As I mentioned in my last post on CLI, I am trying to exit part of my position to reduce the 30% weighting which it holds in my portfolio. As such I have previously sold a $22.50 Call and will now sell a $20 call. If this call expires out of the money I while be extremely surprised. Additionally, the ex-dividend date is July 1st, so I assume the stock will be called away if it is above $21.70 on June 30. The profit/loss info is below:
Various -- Bought 100 CLI @ 18.80
3/2/2009 -- Sold To Open 1 CLI July $22.5 Call @ 1.2225
4/1/2009 – CLI Dividend @ .45
4/16/2009 – Bought To Close 1 CLI July $22.5 Call @ 4.45
4/16/2009 – Sold To Open 1 CLI May $25 Call @ 1.7
5/15/2009 – May $25 Call Expired
5/18/2009 – Sold To Open 1 CLI June $22.50 Call @ 2.75
6/19/2009 - June $22.50 Call Expired
6/23/2009 - Sold To Open 1 CLI July $20.00 Call @ 1.70
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $1880.00
Downside Coverage From Current Price: 28.5%
Possible Max Upside: 26.01%
Annualized Max Upside: 68.8%
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