Tuesday, October 6, 2009

Dividend Payment - SIMS Metal Management (SMS)

This is simply a dividend update for the position in SMS. I actually had forgotten about this dividend payment, even though it was one of the original reasons I found the stock. The new profit/loss info is below:

9/28/2009 -- Bought 100 SMS @ 19.69
9/28/2009 -- Sold To Open 1 SMS October $20 Call @ 0.7
10/6/2009 -- Dividend @ 0.08


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Cost Basis: $1899.00

Downside Protection: 3.5%

Potential Gain If Called At Expiration: 5.48%

Potential Annualized Gain If Called At Expiration: 105.21%

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