Monthly Options Expiration Results through March 15th, 2024

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 February 16th, 2024 options expiration through yesterday's March 15th, 2024 monthly options expiration date.  

During this past month, the Covered Calls Advisor Portfolio closed a total of twelve positions.  Fortunately, all twelve positions were closed out at a profit.  In addition, one Covered Calls 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: 

• Four Covered Calls positions were closed out when their Call options expired in-the-money (stock price above the strike price) on yesterday's March 15th, 2024 monthly options expiration date as follows:

1. Yum China Holdings Inc. -- +1.4% absolute return-on-investment in 18 days (equivalent to a +29.4% annualized return-on-investment). 
2. Becton Dickinson & Company -- +1.0% absolute return-on-investment in 10 days (equivalent to a +38.1% annualized return-on-investment). 
3. Schlumberger Ltd. -- +2.8% absolute return-on-investment in 46 days (equivalent to a +21.8% annualized return-on-investment).
4. Aptiv PLC -- +1.1% absolute return-on-investment in 11 days (equivalent to a +36.4% annualized return-on-investment).

• Two Covered Calls positions were closed out by early decision as follows:

1. Oshkosh Corporation -- +0.1% absolute return-on-investment in 13 days (equivalent to a +0.3% annualized return-on-investment).
2. Newmont Corporation -- +1.7% absolute return-on-investment in 12 days (equivalent to a +49.2% annualized return-on-investment).

• Three Covered Calls positions were closed out by early assignment when the Call owners decided to exercise their right to close out their options prior to these companies' ex-dividend date.  So, the three Covered Calls positions were closed out. The Calls expired and the shares were sold at their respective strike prices with the following results: 

1. Genuine Parts Company -- +0.9% absolute return-on-investment in 8 days (equivalent to a +40.5% annualized return-on-investment).
2. Newmont Corporation -- +0.9% absolute return-on-investment in 5 days (equivalent to a +68.1% annualized return-on-investment).
3. FedEx Corporation -- +1.1% absolute return-on-investment in 14 days (equivalent to a +28.8% annualized return-on-investment).

• Three Covered Calls positions were closed out in-the-money on their weekly options expiration dates during the past month as follows:

1. Delta Air Lines Inc. -- +1.2% absolute return-on-investment in 15 days (equivalent to a +29.4% annualized return-on-investment).
2. KraneShares CSI China Internet ETF -- +6.4% absolute return-on-investment in 57 days (equivalent to a +41.1% annualized return-on-investment).
3. Target Corporation -- +1.6% absolute return-on-investment in 14 days (equivalent to a +40.6% annualized return-on-investment).

• One Covered Calls position closed out-of-the-money yesterday on its March 15th, 2024 monthly options expiration date, so the Call options expired and the shares now remain in the Covered Calls Advisor Portfolio.  Six hundred shares of Match Group Inc. closed at $33.55 per share which was below its $35.00 strike price.  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) 119 of 132 positions (90.2%) 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 +14.9% during the past year and the average holding period for these 132 closed positions was 20.1 days.  In comparison, the benchmark S&P 500 has returned +30.2% 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 Wishes,

Jeff Partlow
Covered Calls Advisor
partlow@cox.net