Monday, February 14, 2011


Over the weekend my Chevron -CVX- stock was taken away just before ex-Dividend. I bought it Nov.4 (3 months, 10 days ago - although I calc'd 4 months for the return); selling the March 80 call - CVX is now 97 - the trade had much downside security, but also made it unfavorable to roll out the call.
An early dividend of $72 plus the $646 call price (Intrinsic and extrinsic) netted me a profit of $231 after all commissions, or 8.17% annualized at 4 months. Not bad.

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