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Monday, March 23, 2009

Establish World Fuel Services Corp Covered Calls


A new covered call position was established today in the Covered Calls Advisor Portfolio(CCAP) with the purchase of World Fuel Services Corp (INT) covered calls.

A summary of the transactions is as follows:
Established World Fuel Services Corp Covered Calls for Apr09:
03/23/09 Bought 400 INT @ $31.45
03/23/09 Sold 4 INT Apr09 $30.00 Calls @ $3.00

Absolute Return if Exercised at $30.00: +4.9%
= [$3.00-($31.45-$30.00)]/$31.45
Annualized Return if Exercised: +69.1%
Downside Breakeven Price Point: $28.45
Downside Breakeven Protection: 9.5%

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