After reviewing the remaining option premium for this naked put which is part of the NPIP, the decision has been made to close the position. Generally, I will close positions in this portfolio when the annualized return has fallen under 2%. The final profit/loss info is below:
10/22/2010 -- Sold To Open 1 LLL January 2012 $55 Put @ 3.2899
5/2/2011 -- Bought To Close 1 LLL January 2012 $55 Put @ 0.6578
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Cost Basis: N/A
Final Profit: 4.79%
Original Projected Annualized Profit: 4.80%
Final Annualized Profit: 9.10%
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