Tuesday, October 30, 2012

New 15-15 Positions

After a discussion on my JustCoveredCalls Yahoo group last week, I established 4 new positions on ANF, BTU, CNX, & SCHN (see Trades below). The criteria used is a minimum of 15% downside protection and 15% annualized return. I added additional criteria to further qualify the positions. The following is the selection criteria:
  • All dividend paying companies.
  • Covered by Morningstar and Value Line Daily Options Survey.
  • Current price below M* Fair Value.
  • CSP strike below or within $5 above the M* Consider Buy Price.
  • CSP downside protection of 15% or greater.
  • CSP annualized return of 15% or greater.

If these positions work out well, I'll probably continue to establish a limited number of these positions in my portfolio, but the bulk of my portfolio will continue to follow the criteria documented in my trading plan.

Friday, October 26, 2012

SU - New Position

A new CSP position was established today on Suncor Energy (SU). All prices include IB commissions.

CriteriaValue
Dividend Champions StatusChallenger
Years of Consecutive Dividend Increases7
Fair Value Estimate$52.00
Target Buy Price$36.40
Target Margin of Safety30.00%
Actual Buy Price$31.00
Actual Margin of Safety40.38%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/26/2012SUCSP Margin UsedCSP 100 SU @ 31.00 ($3,100.00) 
10/26/2012SUInitial Put OptionSTO 1 Dec12 31.00 Put @ 0.66  $65.94

Position Summary

Cost Basis($3,100.00)
Income Generated$65.94
Percent Income Generated2.13%
Annualized Income Generated13.86%
Net Profit If Assigned$65.94
Percent Return If Assigned2.13%
Annualized Return If Assigned13.86%
Days Held to Expiration56 days

SCHN - New Position

A new CSP position was established today on Schnitzer Steel Industries (SCHN). All prices include IB commissions.

This is a position which requires a minimum of 15% Downside Protection and 15% Annualized Return.

CriteriaValue
Downside Protection16.52%
Annualized Return19.28%
Fair Value Estimate$44.00
Target Buy Price$26.40
Target Margin of Safety40.00%
Actual Buy Price$25.00
Actual Margin of Safety43.18%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/26/2012SCHNCSP Margin UsedCSP 100 SCHN @ 25.00 ($2,500.00) 
10/26/2012SCHNInitial Put OptionSTO 1 Dec12 25.00 Put @ 0.74  $73.94

Position Summary

Cost Basis($2,500.00)
Income Generated$73.94
Percent Income Generated2.96%
Annualized Income Generated19.28%
Net Profit If Assigned$73.94
Percent Return If Assigned2.96%
Annualized Return If Assigned19.28%
Days Held to Expiration56 days

OXY - New Position

A new CSP position was established today on Occidental Petroleum (OXY). All prices include IB commissions.

CriteriaValue
Dividend Champions StatusContender
Years of Consecutive Dividend Increases10
Fair Value Estimate$108.00
Target Buy Price$75.60
Target Margin of Safety30.00%
Actual Buy Price$75.00
Actual Margin of Safety30.56%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/26/2012OXYCSP Margin UsedCSP 100 OXY @ 75.00 ($7,500.00) 
10/26/2012OXYInitial Put OptionSTO 1 Dec12 75.00 Put @ 1.62  $161.94

Position Summary

Cost Basis($7,500.00)
Income Generated$161.94
Percent Income Generated2.16%
Annualized Income Generated14.07%
Net Profit If Assigned$161.94
Percent Return If Assigned2.16%
Annualized Return If Assigned14.07%
Days Held to Expiration56 days

BTU - New Position

A new CSP position was established today on Peabody Energy (BTU). All prices include IB commissions.

This is a position which requires a minimum of 15% Downside Protection and 15% Annualized Return.

CriteriaValue
Downside Protection17.40%
Annualized Return18.53%
Fair Value Estimate$30.00
Target Buy Price$18.00
Target Margin of Safety40.00%
Actual Buy Price$24.00
Actual Margin of Safety3.33%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/26/2012BTUCSP Margin UsedCSP 100 BTU @ 24.00 ($2,400.00) 
10/26/2012BTUInitial Put OptionSTO 1 Dec12 24.00 Put @ 0.68  $68.24

Position Summary

Cost Basis($2,400.00)
Income Generated$68.24
Percent Income Generated2.84%
Annualized Income Generated18.53%
Net Profit If Assigned$68.24
Percent Return If Assigned2.84%
Annualized Return If Assigned18.53%
Days Held to Expiration56 days

Thursday, October 25, 2012

CNX - New Position

A new CSP position was established today on Consol Energy (CNX). All prices include IB commissions.

This is a position which requires a minimum of 15% Downside Protection and 15% Annualized Return.

CriteriaValue
Downside Protection19.41%
Annualized Return16.18%
Fair Value Estimate$45.00
Target Buy Price$27.00
Target Margin of Safety40.00%
Actual Buy Price$29.00
Actual Margin of Safety35.56%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/25/2012CNXCSP Margin UsedCSP 100 CNX @ 29.00 ($2,900.00) 
10/25/2012CNXInitial Put OptionSTO 1 Jan13 29.00 Put @ 1.09  $109.24

Position Summary

Cost Basis($2,900.00)
Income Generated$109.24
Percent Income Generated3.77%
Annualized Income Generated16.18%
Net Profit If Assigned$109.24
Percent Return If Assigned3.77%
Annualized Return If Assigned16.18%
Days Held to Expiration85 days

Wednesday, October 24, 2012

STRA - New Position

A new CSP position was established today on Strayer Education Inc (STRA). All prices include IB commissions.

CriteriaValue
Dividend Champions StatusChallenger
Years of Consecutive Dividend Increases8
Fair Value Estimate$110.00
Target Buy Price$66.00
Target Margin of Safety40.00%
Actual Buy Price$40.00
Actual Margin of Safety63.64%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/24/2012STRACSP Margin UsedCSP 100 STRA @ 40.00 ($4,000.00) 
10/24/2012STRAInitial Put OptionSTO 1 Dec12 40.00 Put @ 0.77  $76.94

Position Summary

Cost Basis($4,000.00)
Income Generated$76.94
Percent Income Generated1.92%
Annualized Income Generated12.10%
Net Profit If Assigned$76.94
Percent Return If Assigned1.92%
Annualized Return If Assigned12.10%
Days Held to Expiration58 days

PH - New Position

A new CSP position was established today on Parker Hannifin Corp (PH). All prices include IB commissions.

CriteriaValue
Dividend Champions StatusChampion
Years of Consecutive Dividend Increases56
Fair Value Estimate$105.00
Target Buy Price$73.50
Target Margin of Safety30.00%
Actual Buy Price$70.00
Actual Margin of Safety33.33%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/24/2012PHCSP Margin UsedCSP 100 PH @ 70.00 ($7,000.00) 
10/24/2012PHInitial Put OptionSTO 1 Dec12 70.00 Put @ 1.46  $145.94

Position Summary

Cost Basis($7,000.00)
Income Generated$145.94
Percent Income Generated2.08%
Annualized Income Generated13.12%
Net Profit If Assigned$145.94
Percent Return If Assigned2.08%
Annualized Return If Assigned13.12%
Days Held to Expiration58 days

NSC - New Position

A new CSP position was established today on Norfolk Southern Corporation (NSC). All prices include IB commissions.

CriteriaValue
Dividend Champions StatusContender
Years of Consecutive Dividend Increases11
Fair Value Estimate$85.00
Target Buy Price$59.20
Target Margin of Safety30.00%
Actual Buy Price$60.00
Actual Margin of Safety29.41%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/24/2012NSCCSP Margin UsedCSP 100 NSC @ 60.00 ($6,000.00) 
10/24/2012NSCInitial Put OptionSTO 1 Nov12 60.00 Put @ 1.05  $104.94

Position Summary

Cost Basis($6,000.00)
Income Generated$104.94
Percent Income Generated1.75%
Annualized Income Generated27.76%
Net Profit If Assigned$104.94
Percent Return If Assigned1.75%
Annualized Return If Assigned27.76%
Days Held to Expiration23 days

CSX - New Position

A new CSP position was established today on CSX Corporation (CSX). All prices include IB commissions.

CriteriaValue
Dividend Champions StatusChallenger
Years of Consecutive Dividend Increases8
Fair Value Estimate$31.00
Target Buy Price$21.70
Target Margin of Safety30.00%
Actual Buy Price$20.00
Actual Margin of Safety35.48%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/24/2012CSXCSP Margin UsedCSP 100 CSX @ 20.00 ($2,000.00) 
10/24/2012CSXInitial Put OptionSTO 1 Nov12 20.00 Put @ 0.27  $27.24

Position Summary

Cost Basis($2,000.00)
Income Generated$27.24
Percent Income Generated1.36%
Annualized Income Generated21.61%
Net Profit If Assigned$27.24
Percent Return If Assigned1.36%
Annualized Return If Assigned21.61%
Days Held to Expiration23 days

COV - New Position

A new CSP position was established today on Covidien (COV). All prices include IB commissions.

CriteriaValue
Dividend Champions StatusChallenger
Years of Consecutive Dividend Increases6
Fair Value Estimate$76.00
Target Buy Price$53.20
Target Margin of Safety30.00%
Actual Buy Price$52.50
Actual Margin of Safety30.92%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/24/2012COVCSP Margin UsedCSP 100 COV @ 52.50 ($5,250.00) 
10/24/2012COVInitial Put OptionSTO 1 Nov12 52.50 Put @ 0.49  $48.94

Position Summary

Cost Basis($5,250.00)
Income Generated$48.94
Percent Income Generated0.93%
Annualized Income Generated14.79%
Net Profit If Assigned$48.94
Percent Return If Assigned0.93%
Annualized Return If Assigned14.79%
Days Held to Expiration23 days

ANF - New Position

A new CSP position was established today on Abercrombie & Fitch (ANF). All prices include IB commissions.

This is a position which requires a minimum of 15% Downside Protection and 15% Annualized Return.

CriteriaValue
Downside Protection19.71%
Annualized Return16.66%
Fair Value Estimate$42.00
Target Buy Price$25.20
Target Margin of Safety40.00%
Actual Buy Price$25.00
Actual Margin of Safety40.48%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/24/2012ANFCSP Margin UsedCSP 100 ANF @ 25.00 ($2,500.00) 
10/24/2012ANFInitial Put OptionSTO 1 Nov12 25.00 Put @ 0.26  $26.24

Position Summary

Cost Basis($2,500.00)
Income Generated$26.24
Percent Income Generated1.05%
Annualized Income Generated16.66%
Net Profit If Assigned$26.24
Percent Return If Assigned1.05%
Annualized Return If Assigned16.66%
Days Held to Expiration23 days

ALTR - New Position

A new CSP position was established today on Altera Corp (ALTR). All prices include IB commissions.

CriteriaValue
Dividend Champions StatusChallenger
Years of Consecutive Dividend Increases6
Fair Value Estimate$42.00
Target Buy Price$29.40
Target Margin of Safety30.00%
Actual Buy Price$27.00
Actual Margin of Safety35.71%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/24/2012ALTRCSP Margin UsedCSP 100 ALTR @ 27.00 ($2,700.00) 
10/24/2012ALTRInitial Put OptionSTO 1 Dec12 27.00 Put @ 0.55  $54.94

Position Summary

Cost Basis($2,700.00)
Income Generated$54.94
Percent Income Generated2.03%
Annualized Income Generated12.81%
Net Profit If Assigned$54.94
Percent Return If Assigned2.03%
Annualized Return If Assigned12.81%
Days Held to Expiration58 days

Sunday, October 21, 2012

SU - Closed

The Suncor Energy (SU) Oct12 31.00 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis$3,100.00
Net Profit$27.94
Percent Return0.90%
Annualized Return13.71%
Days Held to Expiration24 days

Trade History

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
9/25/2012SUCSP Margin UsedCSP 100 SU @ 31.00 ($3,100.00) 
9/25/2012SUInitial Put OptionSTO 1 Oct12 31.00 Put @ 0.28Expired $27.94
10/19/2012SUCSP Margin ReturnedCSP 100 SU @ -31.00  $3,100.00
10/19/2012SU Net Cost/Profit-Loss ($3,100.00)$27.94
DTE24 Percent Profit-Loss/Annualized 0.90%13.71%

STRA - Closed

The Strayer Education Inc (STRA) Oct12 50.00 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis$5,000.00
Net Profit$42.94
Percent Return0.86%
Annualized Return13.06%
Days Held to Expiration24 days

Trade History

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
9/25/2012STRACSP Margin UsedCSP 100 STRA @ 50.00 ($5,000.00) 
9/25/2012STRAInitial Put OptionSTO 1 Oct12 50.00 Put @ 0.43Expired $42.94
10/19/2012STRACSP Margin ReturnedCSP 100 STRA @ -50.00  $5,000.00
10/19/2012STRA Net Cost/Profit-Loss ($5,000.00)$42.94
DTE24 Percent Profit-Loss/Annualized 0.86%13.06%

NSC - Closed

The Norfolk Southern Corporation (NSC) Oct12 62.50 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis$6,250.00
Net Profit$61.94
Percent Return0.99%
Annualized Return15.73%
Days Held to Expiration23 days

Trade History

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
9/26/2012NSCCSP Margin UsedCSP 100 NSC @ 62.50 ($6,250.00) 
9/26/2012NSCInitial Put OptionSTO 1 Oct12 62.50 Put @ 0.62Expired $61.94
10/19/2012NSCCSP Margin ReturnedCSP 100 NSC @ -62.50  $6,250.00
10/19/2012NSC Net Cost/Profit-Loss ($6,250.00)$61.94
DTE23 Percent Profit-Loss/Annualized 0.99%15.73%

EXPD - Closed

The Expeditors International (EXPD) Oct12 35.00 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis$3,500.00
Net Profit$39.52
Percent Return1.13%
Annualized Return17.17%
Days Held to Expiration24 days

Trade History

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
9/25/2012EXPDCSP Margin UsedCSP 100 EXPD @ 35.00 ($3,500.00) 
9/25/2012EXPDInitial Put OptionSTO 1 Oct12 35.00 Put @ 0.40Expired $39.52
10/19/2012EXPDCSP Margin ReturnedCSP 100 EXPD @ -35.00  $3,500.00
10/19/2012EXPD Net Cost/Profit-Loss ($3,500.00)$39.52
DTE24 Percent Profit-Loss/Annualized 1.13%17.17%

CSX - Closed

The CSX Corporation (CSX) Oct12 20.00 Call Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis$4,000.00
Net Profit$42.48
Percent Return1.06%
Annualized Return16.15%
Days Held to Expiration24 days

Trade History

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
9/25/2012CSXCSP Margin UsedCSP 200 CSX @ 20.00 ($4,000.00) 
9/25/2012CSXInitial Put OptionSTO 2 Oct12 20.00 Put @ 0.21Expired $42.48
10/19/2012CSXCSP Margin ReturnedCSP 200 CSX @ -20.00  $4,000.00
10/19/2012CSX Net Cost/Profit-Loss ($4,000.00)$42.48
DTE24 Percent Profit-Loss/Annualized 1.06%16.15%

Monday, October 8, 2012

SVXY - New Position

A new CSP position was established today on ProShares Short VIX Short-Term Futures (SVXY). All prices include IB commissions.

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/8/2012SVXYCSP Margin UsedCSP 100 SVXY @ 50.00 ($5,000.00) 
10/8/2012SVXYInitial Put OptionSTO 1 Nov12 50.00 Put @ 0.59  $58.94

Position Summary

Cost Basis($5,000.00)
Income Generated$58.94
Percent Income Generated1.18%
Annualized Income Generated11.03%
Net Profit If Assigned$58.94
Percent Return If Assigned1.18%
Annualized Return If Assigned11.03%
Days Held to Expiration39 days

TBT - New Position

A new CSP position was established today on ProShares UltraShort 20+ Year Treasury (TBT). All prices include IB commissions.

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
10/8/2012TBTCSP Margin UsedCSP 100 TBT @ 60.00 ($6,000.00) 
10/8/2012TBTInitial Put OptionSTO 1 Nov12 60.00 Put @ 0.96  $95.94

Position Summary

Cost Basis($6,000.00)
Income Generated$95.94
Percent Income Generated1.60%
Annualized Income Generated14.97%
Net Profit If Assigned$95.94
Percent Return If Assigned1.60%
Annualized Return If Assigned14.96%
Days Held to Expiration39 days

TBT - Closed

All ProShares UltraShort 20+ Year Treasury (TBT) positions were closed on Thursday 10/4, the day before the 1-4 reverse split. Below is a summary of all the closed positions. All prices include IB commissions.

I decided to close these positions rather than hold them through the split, even though they resulted in a loss. I'll re-establish other TBT and/or other ETF positions with the proceeds.

Position 1 Summary

Cost Basis$9,200.00
Net Profit($4,990.76)
Percent Return-54.25%
Annualized Return-22.10%
Days Held to Expiration896 days

Trade History

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
4/22/2010TBTCSP Margin UsedCSP 200 TBT @ 46.00 ($9,200.00) 
4/22/2010TBTInitial Put OptionSTO 2 May10 46.00 Put @ 0.55Closed $110.57
5/21/2010TBTBuy Back and Roll OutBTC 2 May10 46.00 Put @ -7.24 $0.00($1,448.13)
5/21/2010TBTContinued TradeSTO 2 Sep10 46.00 Put @ 8.14Exercised $1,628.57
9/8/2010TBTCSP Margin ReturnedCSP 200 TBT @ -46.00 $9,200.00 
9/8/2010TBTStock AssignedEX 2 Sep10 46.00 Put @ -46.00Closed($9,200.00)$0.00
9/9/2010TBTInterim TradeSTO 2 Oct10 37.00 Call @ 0.27Expired$0.00$54.57
10/21/2010TBTInterim TradeSTO 2 Nov10 37.00 Call @ 0.27Closed$0.00$54.67
11/18/2010TBTBuy Back and Roll Out/UpBTC 2 Nov10 37.00 Call @ -0.23 $0.00($46.33)
11/18/2010TBTInterim TradeSTO 2 Dec10 38.00 Call @ 0.91Closed$0.00$182.57
12/13/2010TBTBuy Back and Roll Out/UpBTC 2 Dec10 38.00 Call @ -1.83 $0.00($365.43)
12/13/2010TBTInterim TradeSTO 2 Mar11 41.00 Call @ 2.29Closed$0.00$458.67
3/18/2011TBTBuy Back and Roll Out/UpBTC 2 Mar11 41.00 Call @ -0.01 $0.00($2.00)
3/18/2011TBTInterim TradeSTO 2 Apr11 40.00 Call @ 0.19Closed$0.00$38.57
4/6/2011TBTBuy Back and Roll Out/UpBTC 2 Apr11 40.00 Call @ -0.08 $0.00($15.93)
4/6/2011TBTInterim TradeSTO 2 Sep11 42.00 Call @ 1.43Expired$0.00$286.57
2/3/2012TBTInterim TradeSTO 2 Mar12 21.00 Call @ 0.30Expired$0.00$60.55
3/19/2012TBTInterim TradeSTO 2 Apr12 23.00 Call @ 0.26Expired$0.00$52.55
10/4/2012TBTSell to CloseSTC 200 TBT @ -15.80 $0.00$3,159.20
10/4/2012TBT Net Cost/Profit-Loss ($9,200.00)($4,990.76)
DTE896 Percent Profit-Loss/Annualized -54.25%-22.10%

Position 2 Summary

Cost Basis$4,600.00
Net Profit($702.38)
Percent Return-15.27%
Annualized Return-14.00%
Days Held to Expiration398 days

Trade History

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
9/2/2011TBTCSP Margin UsedCSP 200 TBT @ 23.00 ($4,600.00) 
9/2/2011TBTInitial Put OptionSTO 2 Sep11 23.00 Put @ 1.04Closed $207.65
9/16/2011TBTBuy Back and Roll OutBTC 2 Sep11 23.00 Put @ -0.14 $0.00($28.02)
9/16/2011TBTContinued TradeSTO 2 Oct11 23.00 Put @ 1.33Exercised$0.00$265.14
10/21/2011TBTCSP Margin ReturnedCSP 200 TBT @ -23.00 $4,600.00 
10/21/2011TBTStock AssignedEX 2 Oct11 23.00 Put @ -23.00Closed($4,600.00)$0.00
10/27/2011TBTContinued TradeSTO 2 Nov11 23.00 Call @ 0.90Expired$0.00$180.55
10/27/2011TBTContinued TradeSTO 2 Mar12 21.00 Call @ 0.30Expired$0.00$60.55
3/19/2012TBTContinued TradeSTO 2 Apr12 23.00 Call @ 0.26Expired$0.00$52.55
10/4/2012TBTSell to CloseSTC 200 TBT @ -15.80 $0.00$3,159.20
10/4/2012TBT Net Cost/Profit-Loss ($4,600.00)($702.38)
DTE398 Percent Profit-Loss/Annualized -15.27%-14.00%

Position 3 Summary

Cost Basis$5,600.00
Net Profit$75.18
Percent Return1.34%
Annualized Return1.94%
Days Held to Expiration253 days

Trade History

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
1/25/2012TBTCSP Margin UsedCSP 400 TBT @ 14.00Closed($5,600.00) 
1/25/2012TBTInitial Put OptionSTO 4 Jan13 14.00 Put @ 0.57Closed $229.70
10/4/2012TBTBuy BackBTC 4 Jan13 14.00 Put @ -0.39  ($154.52)
10/4/2012TBTCSP Margin UsedCSP 400 TBT @ -14.00Closed$0.00$5,600.00
10/4/2012TBT Net Cost/Profit-Loss ($5,600.00)$75.18
DTE253 Percent Profit-Loss/Annualized 1.34%1.94%

Position 4 Summary

Cost Basis$3,600.00
Net Profit($235.44)
Percent Return-6.54%
Annualized Return-10.61%
Days Held to Expiration225 days

Trade History

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
2/22/2012TBTCSP Margin UsedCSP 200 TBT @ 18.00 ($3,600.00) 
2/22/2012TBTInitial Put OptionSTO 2 Apr12 18.00 Put @ 0.43Expired $86.55
5/4/2012TBTContinued TradeSTO 2 May12 18.00 Put @ 0.26Exercised$0.00$52.85
5/18/2012TBTCSP Margin ReturnedCSP 200 TBT @ -18.00 $3,600.00 
5/18/2012TBTStock AssignedEX 2 May12 18.00 Put @ -18.00Closed($3,600.00)$0.00
9/14/2012TBTContinued TradeSTO 2 Oct12 18.00 Call @ 0.40Closed $79.08
9/24/2012TBTBuy BackBTC 2 Oct12 18.00 Call @ -0.07  ($13.12)
10/4/2012TBTSell to CloseSTC 200 TBT @ -15.80 $0.00$3,159.20
10/4/2012TBT Net Cost/Profit-Loss ($3,600.00)($235.44)
DTE225 Percent Profit-Loss/Annualized -6.54%-10.61%