Another position in Direxion Financial Bull 3x Shares was established on April 9, 2009. This is the fourth covered call position established for May expiration. This ETF returns 300% of the Russell 1000 Financial services index.
4/21/2009 -- Bought 100 FAS @ 6.445
4/21/2009 -- Sold To Open 1 FAS May $5 Call @ 1.95
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $644.50
Downside Coverage: 30.2%
Possible Max Upside: 10.12%
Annualized Max Upside: 142.1%
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