End of July update

S and P 500 9.68%
Buy List 6.72%
Covered Call list 8.25%

Raven Split 2 for 1 last week.

August option sale

July option struck AFL and KKR. (Captial Gain $33,819)
August options bought back AFL at 43.28
August Covered call sales $56,074..

Covered call portfolio 8.15%

July option expirations

At the end of July option period the standings are

S&P 500 8.35%
Buy list  5.58%
Covered call list 8.02%

The notable stock on the list is DF which dropped from $17.25(high) to $12.13(Friday close). Concern about the drought in the midwest affecting feed prices for milk is the culprit, but Deutsche Bank gave a target price of $18.00. (Not that target estimates from the sell side means a damn thing). Eddie's simplest valuation method places the target price at $18.32.

The next post will cover August Covered call sales.

Yahoo hires a rock star...

http://www.sfgate.com/news/article/Marissa-Mayer-s-challenge-as-Yahoo-CEO-3710910.php#photo-320223

Marissa Mayer was hired away from Google to be CEO of Yahoo.  This will be Yahoo's 7th CEO in 5 years.  I think the most common comment around water coolers will not be Yahoo made a great choice, but that she sure is cute.  I do not think that will translate to a better product for Yahoo.

The new 1% Club

http://sacramento.cbslocal.com/2012/07/16/largest-public-pension-fund-earns-dismal-1-percent/

CalPERS manages the retirement fund for State of California public employees. For the last fiscal year which ended on June 30th, they provided an all around return of 1%.  (S and P 500 was about 3.5% for that period.)

Half Way Home

The year is half over....

S and P 500 8.31%
Buylist           7.97%
Covered Call account 7.72%

Also UVXY is down to 9.81