Trade - 7/28/09 - IPI

STO (1) Naked Put - IPI (INTREPID POTASH INC) Aug 09 @ $25 for $1.20 each. Net Premium $119.

Just a limp into this one. I will add to it if we get a pull back.

Risk Management:

Ticker: IPI
Expiratoin: 21-Aug-09
Invest Date 28-Jul-09

Current Stock Price $26.65
Strike Price $25.00
Premium $1.20
Annual Dividend $-

Days to Expiration 24
Return (Assumes CSP) 4.80%
Annualized Return 73.00%
Downside Protection 10.69%
Effective Dividend if Put 0.00%