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Tuesday, June 3, 2008

Bought Regions Financial Corp Covered Calls

A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) as follows:

Established Regions Financial Corp(RF) Covered Calls for Jul08

06/03/08 Bought 1000 RF @ $16.77
06/03/08 Sold 10 RF Jul08 $17.50 Calls @ $.75

Annualized Return If Stock Price Unchanged (ARIU): +53.4%
Annualized Return If Exercised (ARIE): +88.0%
Downside Breakeven Protection: 6.7%

The annualized returns shown above includes a $.38 ex-dividend on Jun 13th.

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