AA - Open Position

Written on January 5, 2009 – 9:00 am | by admin

Today I opened a position in AA. I entered the buy/write transaction on Friday and didn’t get filled.  I got filled this morning.  The details:

Buy: 200 @ $11.67 ($0 commission)
Initial Investment: $2334
Sold: $10 strike @ $1.95 ( $5.50 commission)
Net Investment: $1949.50
Expected Return: 2.30%

I am ok with holding this for a while as I don’t see the largest Aluminum producer going out of business.  They also have a $0.17 dividend next month (or 1.74% on my cost basis)  should I still hang on to it.  


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