An initial position in CX was established on April 8, 2009. This position was established with funds gained by closing other covered call positions early, which had become so much in the money that time premium had essentially gone away. This particular purchase was made to add more international diversification to the portfolio.
4/6/2009 -- Bought 100 CX @ 7.415
4/6/2009 -- Sold To Open 1 CX April $7.5 Call @ .35
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $741.50
Downside Coverage: 4.7%
Possible Max Upside: 5.52%
Annualized Max Upside: 223.87%
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