Trade - 6/3/09 - AFL

STO (3) Naked Put - AFL (AFLAC) June 09 @ $31 for $1.00 each. Net Premium $298.

After selling this one yesterday I jumped right back in because I like the high premium and good downside protection on this one. A solid company that may not rocket higher but should have no problem holding its own at $31.

Risk Management:

Ticker: AFL
Expiratoin: 19-Jun-09
Invest Date 03-Jun-09

Current Stock Price $33.75
Strike Price $31.00
Premium $1.00
Annual Dividend $1.12

Days to Expiration 16
Return (Assumes CSP) 3.23%
Annualized Return 73.59%
Downside Protection 11.11%
Effective Dividend if Put 3.73%