Trade - 7/13/09 - CLX

STO (1) Covered Call on CLX Aug 09 Strike @ $60 for $0.55. Net Premium $54.

This is one where I bought CLX a couple of weeks ago for $55 and planned to wait until it moved up a couple of ticks and then write a deep out of the money Call. With the stock now trading at $57.30 I am taking a 1% premium (hopefully each month on top of the dividend) on a $60 call. If I get called it will add almost another 10% to the return (price appreciation). This is a slightly different variation on my other investments looking for safety with a high quality stock with a supersafe dividend.