Sunday, August 19, 2012
Another Hat Trick with IP
My IP position was called away at options expiration last Friday. I established this position last month, after looking ahead for stocks that would go ex-dividend during the week of monthly options expirations and calculating for an early assignment. That didn’t happen, and as a result, I scored a hat trick with this latest IP position.
As it turns out, this is the third time I’ve taken a position in IP, and all three times I scored the hat trick, with option premiums, dividends, and stock gains. The previous times were in November 2011, when I first opened the Rescue My IRA account, and again at the beginning of 2012.
So I like this stock – I think I first learned about it from one of the traders on the Yahoo Covered Calls board.
Here’s the history of this most recent position:
IP – 300 Shares, average basis $32.02, 33 Aug 2012 assigned
Option Premiums (total): $140.23
Dividends Collected (ex-dividend 8/13/2012: $78.75
Stock Gain: $275.89
Absolute return 5.15%
Annualized return (30 days) 62.67%