Trade - 6/15/09 - T

STO (5) Naked Put - T (AT&T) October 09 @ $22 for $1.04 each. Net Premium $516.

Looking for some safety and to lock in some premiums here. Very safe dividend with quite a bit of downside protection.

Risk Management:

Ticker: ATT
Expiratoin: 16-Oct-09
Invest Date 15-Jun-09

Current Stock Price $24.42
Strike Price $22.00
Premium $1.04
Annual Dividend $1.64

Days to Expiration 123
Return (Assumes CSP) 4.73%
Annualized Return 14.03%
Downside Protection 14.17%
Effective Dividend if Put 7.82%