Update Transaction - Alpha Natural Resources (ANR) (7-9-2009)

I successfully executed my strategy with ANR, by buying back the August call, waiting for a rise in the ANR share price, and reselling the call. This has essentially netted me an additional 1% gain if the position is called away at August expiration. Although I dont have high expectations of ANR being called away at expiration, I also do not foresee a share price decrease below $20. The new profit/loss info is below:

5/20/2009 -- Bought 100 ANR @ 29.26
5/20/2009 -- Sold To Open 1 ANR June $32.50 Call @ 1.24
5/20/2009 -- Bought To Open 1 ANR June $20 Put @ .3
5/21/2009 -- Bought To Close 1 ANR June $32.50 Call @ .55
5/22/2009 -- Sold To Open 1 ANR June $27.50 Call @ 1.45
5/27/2009 -- Bought To Close 1 ANR $27.50 Call @ 2.18
5/27/2009 -- Sold To Open 1 ANR $30 June Call @ 1.09
6/16/2009 -- Bought To Close 1 ANR $30 June Call @ 0.15
6/16/2009 -- Bought To Open 1 ANR $20 June Put @ 0.5
6/25/2009 -- Sold To Open 1 ANR $30 August Call @ 1.90
7/6/2009 -- Bought To Close 1 ANR $30 August Call @ 0.5
7/9/2009 -- Sold To Open 1 ANR $30 August Call @ 0.75



The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $2926.00
Current Cost Basis: $27.01


Maximum Downside Risk (due to Put): 26%
Downside Coverage: None
Possible Max Upside: 10.67%

Annualized Max Upside: 41.44%