Dividend Update - Mack-Cali Realty (CLI) (7-1-2009)

This is simply an update to this position showing the passing of an ex-div date. Although the stock ended up being above $22.50 on the day before the ex-div date it was not called away. There are still two other CLI positions which remain uncovered, I will not be writing separate posts for those positions, but they also received the same dividend. The new profit/loss info is below:


Various -- Bought 100 Shares of CLI @ 21.18
3/2/2009 -- Sold To Open 1 July $22.50 Call @ 1.2225
3/10/2009 -- Bought To Close 1 July $22.50 Call @ 1
4/1/2009 -- Dividend @ 0.45
4/3/2009 -- Sold To Open 1 May $22.50 Call @ 2.50
5/15/2009 -- May $22.50 Expired
5/18/2009 -- Sold To Open 1 June $25 Call @ 0.95
6/19/2009 -- June $25 Call Expired
6/22/2009 -- Sold To Open 1 July $22.50 Call @ 0.75
7/1/2009 -- Dividend @ 0.45

The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $2118.00


Downside Coverage (based on current price, 23): 31.2%
Possible Max Upside: 33.52%

Annualized Max Upside: 88.66%