The position in Spirit Aerosystemsn(SPR) was closed today by selling the 300 shares owned. This was a poor investment choice -- as a major supplier to Boeing, Spirit stock has declined rapidly as a direct result of the ongoing and unresolved strike against Boeing.
The Transactions History to date was as follows:
08/18/08 Bought 300 SPR @ $23.35
08/18/08 Sold 3 SPR Sep08 $25.00 Calls @ $.70
09/20/08 Sep08 Options Expired
09/26/08 Sold to Close 300 Shares SPR @ $16.00
The overall performance results(including commissions)for the SPR transactions were as follows:
Stock Purchase Cost: $7,013.95
($23.35*300+$8.95 commission)
Net Profit:
(a) Options Income: +$198.80 (300*$.70-$11.20 commissions)
(b) Dividend Income: $0
(c) Capital Appreciation: -$2,222.90
= ($23.35-$16.00)*300 - 2*$8.95 commissions
Total Net Profit: -$2,024.10
= (+$198.80 +$0 -$2,222.90)
Annualized Return: -270.1%
(-$2,024.10/$7,013.95)*(365/39 days)
