This is a new position being established in Suncor Energy, a Canadian company which focuses on developing the Athabasca oil sands. It also currently yields about 1%. The profit/loss info is below:
12/22/2009 -- Bought 100 SU @ 33.92
12/22/2009 -- Sold To Open 1 SU January $34 Call @ 1.0924
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $3282.76
Commissions (Included In Cost): $0.76
Downside Coverage (from current price of $33.92): 3.2%
Possible Max Upside: 3.15%
Annualized Max Upside: 46.05%
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