As was discussed in my post after May expiration, I chose to continue the position in Omnicare, a pharmaceutical supply company, similar to a Walgreens. The premiums continue to remain relatively high for a company which is not very speculative, they continue to have high operating margins relative to their peers. The purchase info is below.
4/27/2009 -- Bought 100 OCR @ 26.465
4/27/2009 -- Sold To Open 1 OCR May $27.50 Call @ 1.25
5/15/2009 -- Call Option Expired
5/19/2009 -- Sold To Open 1 OCR June $27.5 Call @ 0.95
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $2646.50
If stock is called at expiration:
Downside Coverage (based on current share price): 9.4%
Possible Max Upside: 13.62%
Annualized Max Upside: 92.08%
Wednesday, May 20, 2009
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