After rolling out SPY
and BA, and then unwinding the COP and WIN positions, the only August contract
I had left in Rescue My IRA was IP. Then
I rolled out to September – so there won’t be any assignments this month. I’ve also already established replacement
positions in TRV and TGT – I’ll post about those later in the week.
Between all of this
action, the account has already generated 1% in cash flows for the month – really,
I’m just waiting on a few ex-dividend dates now. Maybe a few more adjustments, but most of the
contracts I have now are September covered calls.
Here’s the analysis of
the IP position – as with WIN, I have it in the IRA and conventional accounts.
IP – Rescue My IRA position
A 200 share position
with a basis of $47.93/share, total $9,585.00.
Total option
premiums: $501.43
Total dividend payments
(including the May and August): $120.00
Total stock gain at $48: -$2.11
Total, absolute gain
on the position: $619.32
Total, absolute return
percentage ($619.32/$9,585.00): 6.46%
Annualized total
return percentage (held approx 120 days):
19.65%
IP – conventional account position
This is a 100 share
position with a share basis is $47.76, total $4,775.65.
Total option premiums: $208.96
Total dividend
payments (counting ex-dates through the contract term): $60.00
Total stock gain at $48: $7.24
Total, absolute gain
on the position: $276.20
Total, absolute return
percentage ($276.20/$4,775.65): 5.78%
Annualized total
return percentage (held 120 days): 17.59%
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