Dividend Update - Penn-West Energy (PWE) (7-29-2009)

This is simply an update to this position for a recent dividend update. Unfortunately, the position was not called away before the ex-div so I will be holding it until expiration barring any unforeseen substantial increase in share price. The performance metrics are below:

7/21/2009 -- Bought 100 PWE @ 12.79
7/21/2009 -- Sold To Open 1 PWE August $12.50 Call @ 0.6
7/29/2009 -- Dividend @ 0.13


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Cost Basis: 12.19


Maximum Potential Upside: 3.2%

Potential Annualized Gain: 36.49%