Monthly Options Expiration Results through October 20th, 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 September 15th, 2023 options expiration through yesterday's October 20th, 2023 monthly options expiration date.  

During this past month, the Covered Calls Advisor Portfolio held a total of ten positions.  Five positions were closed out at a profit, three positions were closed out at a loss, and two 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: 

• One Covered Calls position expired in-the-money (stock price above the strike price) on yesterday's October 20th, 2023 monthly options expiration date: Uber Technologies Inc. -- +1.2% absolute return-on-investment in 14 days (equivalent to a +30.1% annualized return-on-investment).  

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

1. The Walt Disney Company -- +1.6% absolute return-on-investment in 15 days (equivalent to a +38.4% annualized return-on-investment).
2. Uber Technologies Inc. -- +0.9% absolute return-on-investment in 11 days (equivalent to a +31.5% annualized return-on-investment).
3. Microsoft Corporation -- +1.3% absolute return-on-investment in 14 days (equivalent to a +33.8% annualized return-on-investment).

• One Covered Call position was closed out by early assignment on the day prior to its ex-dividend date: Oracle Corporation -- +1.0% absolute return-on-investment in 8 days (equivalent to a +47.6% annualized return-on-investment).

• Three Covered Call positions were closed out yesterday by early decision with substantial losses as follows: 

1. Delta Air Lines Inc. -- -17.8% absolute return-on-investment in 88 days (equivalent to a -73.8% annualized return-on-investment).
2. SolarEdge Technologies Inc. -- -30.6% absolute return-on-investment in 59 days (equivalent to a -189.3% annualized return-on-investment).
3. U.S. Bancorp -- -4.7% absolute return-on-investment in 35 days (equivalent to a -48.5% annualized return-on-investment).

• Two Covered Calls positions in Halozyme Therapeutics Inc. and Match Group Inc. closed out-of-the-money yesterday on their October 20th, 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-to-date will be posted on this blog site on the same day the transactions occur.

During the past year (last 12 months) 114 of 126 positions (90.5%) 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 +11.7% during the past year and the average holding period for these 126 closed positions was 18.4 days.  In comparison, the benchmark S&P 500 returned +11.2% 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 Covered Call position ideas or your questions on anything related to the Covered Calls investing strategy.  

Best Regards,

Jeff Partlow
Covered Calls Advisor
partlow@cox.net