Monthly Options Expiration Results through November 17th, 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 October 20th, 2023 options expiration through yesterday's November 17th, 2023 monthly options expiration date.  

During this past month, the Covered Calls Advisor Portfolio held a total of nine positions.  Seven positions were closed out at a profit, one position was closed out at a loss, and one position 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 November 17th, 2023 monthly options expiration date: Las Vegas Sands Corporation -- +2.1% absolute return-on-investment in 21 days (equivalent to a +35.8% 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. Lowe's Companies Inc. -- +1.8% absolute return-on-investment in 21 days (equivalent to a +31.0% annualized return-on-investment).
2. Morgan Stanley -- +2.3% absolute return-on-investment in 21 days (equivalent to a +40.2% annualized return-on-investment).
3. Uber Technologies Inc. -- +2.4% absolute return-on-investment in 14 days (equivalent to a +61.9% annualized return-on-investment).

• Three Covered Calls positions were closed out by early assignment on the last trading day prior to their ex-dividend dates as follows: 

1. Citigroup Inc. -- +1.1% absolute return-on-investment in 9 days (equivalent to a +42.6% annualized return-on-investment).
2. Hershey Company -- +0.4% absolute return-on-investment in 7 days (equivalent to a +23.3% annualized return-on-investment).
3. Exxon Mobil Corporation -- +0.8% absolute return-on-investment in 6 days (equivalent to a +49.4% annualized return-on-investment).

• One Covered Calls position was closed out by early decision at a loss: CVS Health Corporation -- -1.9% absolute return-on-investment in 12 days (equivalent to a -57.8% annualized return-on-investment).  

• One Covered Calls position in Match Group Inc. closed out-of-the-money yesterday on its November 17th, 2023 monthly options expiration date, so the Call 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 position 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) 113 of 125 positions (90.4%) 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 +13.7% during the past year and the average holding period for these 125 closed positions was 18.4 days.  In comparison, the benchmark S&P 500 has returned +14.2% 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 (and Happy Thanksgiving!),

Jeff Partlow
Covered Calls Advisor
partlow@cox.net