Friday, October 26, 2012

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.

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