Monthly Options Expiration Results through August 18th, 2023

Each month after the monthly options expiration date, this summary report provides the results on all positions that have been closed out during the past month (i.e. since the prior month's options expiration date). So this post covers the period from the day after last month's July 21st, 2023 options expiration through yesterday's August 18th, 2023 monthly options expiration date.  

During this past month, the Covered Calls Advisor Portfolio held a total of eleven positions.  Seven positions were closed out at a profit, one position was closed out at a loss, and three positions expired out-of-the-money on yesterday's monthly options expiration date (so those shares currently remain in the Covered Calls Advisor Portfolio).   

The specific results for each position are summarized as follows: 

• Four Covered Calls positions expired in-the-money (stock price above the strike price) on their May 19th, 2023 monthly options expiration date as follows: 

1. Baker Hughes Company -- +1.4% absolute return-on-investment in 19 days (equivalent to a +27.0% annualized return-on-investment).
2. Match Group Inc. -- +1.5% absolute return-on-investment in 12 days (equivalent to a +47.1% annualized return-on-investment).
3. Microsoft Corporation -- +0.9% absolute return-on-investment in 7 days (equivalent to a +45.2% annualized return-on-investment).
4. Uber Technologies Inc. -- +1.6% absolute return-on-investment in 18 days (equivalent to a +32.5% annualized return-on-investment).

• Two Covered Calls positions expired in-the-money on their respective Weekly options expiration dates during the past month as follows:

1. DICK'S Sporting Goods Inc. -- +1.5% absolute return-on-investment in 17 days (equivalent to a +32.1% annualized return-on-investment).
2. iShares China Large-Cap ETF -- +1.9% absolute return-on-investment in 18 days (equivalent to a +38.5% annualized return-on-investment).

• One Covered Call position in Exxon Mobil Corporation was closed out by early assignment on the day prior to its quarterly ex-dividend date with a +0.8% absolute return-on-investment in 7 days (equivalent to a +40.9% annualized return-on-investment).

• One Covered Calls position in the iShares 20+ Year Treasury Bond ETF was closed out early at a loss by my decision.  The result was a -2.7% absolute return-on-investment in 17 days (equivalent to a -57.8% annualized return-on-investment).

• Three Covered Calls positions in Delta Air Lines Inc., Honeywell International Inc., and iShares China Large-Cap ETF closed out-of-the-money yesterday on their August 18th, 2023 monthly options expiration date, so the options expired and the shares now remain in the Covered Calls Advisor Portfolio.  Early next week, a decision will be made to either close out the positions by selling the shares or to continue the Covered Calls positions by selling future Call options against the shares currently held.  As always, the details of all transactions will be posted on this blog site on the same day the transactions occur.

During the past year (last 12 months) 117 of 130 positions (90.0%) in the Covered Calls Advisor Portfolio (CCAP) were closed out at a profit.  The Covered Calls Advisor Portfolio weighted average annualized-return-on-investment (aroi) was +21.9% during the past year and the average holding period for these 130 closed positions was 18.4 days.  In comparison, the benchmark S&P 500 returned +5.6% during the same prior one-year period.   

This Covered Calls Advisor blog is available to anyone interested in learning about implementing a successful Covered Calls investing strategy.  As always, I also encourage you to email me at partlow@cox.net any time you would like my feedback on your comments or questions on anything related to the Covered Calls investing strategy.  

Best Wishes to All,

Jeff Partlow
Covered Calls Advisor
partlow@cox.net