Petrobras (PBR)

This position is in Petrobras, a Brazilian oil & gas conglomerate. This position was originally opened in October after PBR had reached a new 52-week low. Petrobras is one of the most technologically advanced deepwater oil companies in the world, and as such would be primed to participate in the development of future deepwater projects, which are going to be the majority of new oil developments. Based on the current price, however, it is likely that this position will be exited at expiration in January. The profit/loss info is below:

Based on the current cost basis, the potential annualized return for this position if called at expiration in January would be 23.56%.