Just got word from my broker that my JNJ position was called away early (I had rolled out the initial call to July, but it was deep-itm (10 points) with ex-d today. Here is the math:
Bot 100 JNJ Dec. 17, 2010 for $6389 (incl. commission); sold April call for 455; bot back and resold 57 1/2 call for net 234 (264 less 30 buyback); got 2 div. for $108 - stock called away at $5741. Net profit was $450, or 7+%; annualized was double that. 14.09%
Not bad for almost the same safety as a CD.
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