Monday, March 24, 2008

Charles Schwab Corp -- Closed

The position in Charles Schwab Corp (SCHW) was closed today by selling the 1000 shares owned:

Transactions History:
02/21/08 Initial Stock Position -- Bought 1000 SCHW @ $20.10
02/21/08 Initial Call Options -- Sold 10 SCHW Mar08 20 Calls @ $1.05
03/22/08 Mar08 Option Expiration Date – SCHW closed below the strike price at $19.46
03/24/08 1000 SCHW sold at $20.00

The overall performance results (including commissions) for the SCHW transactions were as follows:
Stock Purchase Cost: $20,109.95
($20.10*1000+$9.95 commission)

Net Profit:
(a) Options Income: $1,032.55 (1000*$1.05 - $17.45 commissions)
(b) Dividend Income: $0
(c) Capital Appreciation: -$119.90
= ($20.00-$20.10)*1000 - 2*$9.95 commissions

Total Net Profit: +$912.65
= ($1032.55+$0-$119.90)

SCHW ANNUALIZED ROI: +51.8%
(+$912.65/$20,109.95)*(365/32)

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