Monday, March 24, 2008

SPDR S&P500 Index Trust -- Closed

The position in SPDR S&P500 Index Truse (SPY) was closed today by selling the 200 shares owned:

Transactions History:
02/20/08 Initial Stock Position -- Bought 200 SPY @ $133.89
02/21/08 Initial Call Options -- Sold 2 SPY Mar08 135 Calls @ $3.55
03/22/08 Mar08 Option Expiration Date – SPY closed below the strike price at $132.08
03/24/08 200 SPY sold at $135.00

The overall performance results (including commissions) for the SPY transactions were as follows:
Stock Purchase Cost: $26,787.95
($133.89*200+$9.95 commission)

Net Profit:
(a) Options Income: $698.55 (200*$3.55 - $11.45 commissions)
(b) Dividend Income: $0
(c) Capital Appreciation: +$202.10
= ($135.00-$133.89)*200 - 2*$9.95 commissions

Total Net Profit: +$900.65
= ($698.55+$0+$202.10)

SPY ANNUALIZED ROI: +37.2%
(+$900.65/$26,787.95)*(365/33 days)

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