We also started writing covered calls against long-term holdings in our employee stock purchase plan shares. There are several issues with adopting such a strategy but the net effect can be beneficial – we will look into the details in a separate post.
Our cash position now stands at 9.1% of our total portfolio value. Valuations have come down again following the correction and we will look into deploying the cash.
Below is our updated portfolio:
| Stock | Buy Date | Buy Price | Current Price | Current % Of Portfolio | Unrealized % Return | Yield as % of BOY Portfolio Value Plus Deposits |
| Altria (MO) | Various | 16.69 | 15.46 | 4.79 | (7.34) | 0.16 |
| Philip Morris International (PM) | 1/4/2005 | 32.19 | 35.63 | 8.09 | 10.68 | 0.23 |
| Kraft Foods (KFT) | Various | 24.03 | 23.51 | 4.86 | (2.18) | 0.11 |
| Pfizer (PFE) | Various | 24.37 | 13.71 | 7.08 | (43.74) | 0.33 |
| ICICI Bank (IBN) | 5/18/2006 and 08/01/2008 | 25.28 | 13.78 | 7.11 | (45.48) | 0.17 |
| Taiwan Semi (TSM) – Call Value | 7/27/2006 | 8.71 | 7.57 | 7.81 | (13.00) | 0.24 |
| Advantage Energy Fund (AAV) | 11/2/2006 | 11.22 | 2.36 | 1.22 | (78.97) | 0.22 |
| Central Europe & Russia Fund (CEE) | Various | 39.23 | 12.42 | 4.49 | (68.31) | 1.85 |
| Patni Computers (PTI) | 8/10/2007 | 20.85 | 4.92 | 2.54 | (76.42) | 0.03 |
| Itron Inc. (ITRI) | 11/07/2007 | 85.01 | 46.84 | 4.84 | (44.96) | None |
| Anthracite (AHR) | 11/09/2007 | 7.97 | 1.15 | 0.59 | (85.57) | 0.35 |
| ClickSoftware (CKSW) | 11/09/2007 | 4.61 | 2.85 | 2.94 | (38.18) | None |
| Harvest Energy (HTE) | 11/28/2007 | 21.01 | 6.35 | 2.62 | (69.78) | 0.45 |
| iRobot (IRBT) | 12/18/2007 | 18.65 | 7.76 | 3.21 | (58.03) | None |
| LDK Solar (LDK) | 01/22/2008 | 30.49 | 6.12 | 1.90 | (79.93) | None |
| Aegon N.V. (AEG) | 04/28/2008 | 15.99 | 4.29 | 1.33 | (73.16) | 0.24 |
| LM Ericsson (ERIC) – Call Value | 05/05/2008 | 11.83 | 7.50 | 6.20 | (36.59) | 0.20 |
| TD Ameritrade (AMTD) | 05/21/2008 | 17.68 | 12.81 | 5.29 | (27.56) | None |
| Trina Solar (TSL) | 06/06/08, 07/31/08, 01/23/09 | 24.78 | 7.49 | 3.87 | (69.85) | None |
| Costco (COST) | 08/01/2008 | 62.28 | 42.76 | 4.42 | (31.34) | 0.03 |
| Frontline Limited (FRO) | 10/06/2008 | 36.95 | 24.10 | 3.73 | (34.75) | 0.41 |
| DryShips Limited (DRYS) | 02/09/2008 | 6.96 | 3.79 | 2.74 | (45.58) | 0 |
| Cash | 9.07 | |||||
| Total Portfolio | (46.43) | 5.46 |
- For Altria and Philip Morris International, assumed spin-off ratio of 30.83:69.17. Altria is yet to supply the cost-basis info
- The yield column is current as of 11/21/2008.
- For LM Ericsson Telephone Company (ERIC), we wrote Apr 7.5 covered calls on them on 01/21/2009.
And, below is the list of transactions done during the year:
| Stock | Buy Date | Buy Price | Sell Date | Sell Price | % Gain (Loss) | % Portfolio Return* |
| DryShips (DRYS) | Various | 11.66 | 01/29/2008 | 8.96 | (23.29) | (1.42) |
| DryShips Feb 15 Calls (OOCBC) | 01/29/2009 | 0.20 | 01/16/2008 | 2.50 | 922 | 0.58 |
| Companhia Siderugica Nacional (SID) | Various | 11.03 | 01/29/2008 | 16.01 | 44.86 | 1.73 |
| Taiwan Semi Feb 7.5 Calls (TSMBU) | Expired | NA | 01/09/2009 | 0.90 | NA | 0.77 |
| Total 2009 Stock Transactions - Gain/(Loss) | - | - | - | - | - | 1.66 |
| Income (Dividends, Interests, etc.) | - | - | - | - | - | NC |
| Net Realized 2009 Gain/(Loss) | - | - | - | - | - | 1.66 |
- % Gain/Loss Relative to Portfolio Value at Beginning of Year + Deposits
- The table assumes realization of profits associated with selling options only after the option is exercised or expiry.
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