03-04-2014, 11:06 AM
Just did a quick overview of the portfolio. Approximately 33% of holdings are in long term positions where no calls will be written. The other 2/3 is 100% covering calls about 37% of which is currently 'in the money'. Upside is severely limited with this arrangement, but risk is somewhat mitigated and cash flow is dramatically increased. YTD the portfolio is +1.8% and is sitting at a new all time high when adjusted for withdrawals.
Alex