This is a new position being established in Discover Financial Services, a credit card company. It also currently yields about 0.5%. The profit/loss info is below:
12/23/2009 -- Bought 100 DFS @ 14.81
12/23/2009 -- Sold To Open 1 DFS January $15 Call @ 0.45
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $1436.00
Commissions (Included In Cost): $0
Downside Coverage (from current price of $14.81): 3.03%
Possible Max Upside: 3.60%
Annualized Max Upside: 54.75%
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