Thursday, January 24, 2013

SCHN - New Position

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

This non-Dividend Champion position meets the minimum requirement of 12% Downside Protection and 12% Annualized Return.

Downside Protection12.78%
Annualized Return13.39%
Fair Value Estimate$44.00
Target Buy Price$26.40
Target Margin of Safety40.00%
Actual Buy Price$27.00
Actual Margin of Safety38.64%

DateStockDescriptionTransactionStatusStock InvestmentIncome Generated
1/24/2013SCHNCSP Margin UsedCSP 100 SCHN @ 27.00 ($2,700.00) 
1/24/2013SCHNInitial Put OptionSTO 1 Mar13 27.00 Put @ 0.50  $49.51

Position Summary

Cost Basis($2,700.00)
Income Generated$49.51
Percent Income Generated1.83%
Annualized Income Generated13.39%
Net Profit If Closed$49.51
Percent Return If Closed1.83%
Annualized Return If Closed13.39%
Days Held to Expiration50 days