One of the CSP positions in the CCIP was closed today after only being held for two days. Although it was a relatively miniscule amount on an absolute basis, I'm trying to start slow in terms of CSP's. The market's jump today made it worthwhile to close out the position, and establish a new one for next month. If the GE price drops to around 13.15 I may sell another $12 July CSP. The performance metrics are below:
5/27/2009 -- Sold To Open 1 GE June $12 Put @ 0.32
6/1/2009 -- Bought To Close 1 GE June $12 Put @ 0.11
6/1/2009 -- Sold To Open 1 GE July $12 Put @ 0.4
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Put Sale Profit: $61.00
Downward Movement Required (Put Sold When GE@13.70): 12.4%
Possible Max Upside: 5.08%
Annualized Max Upside: 39.48%
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