Trade - 7/6/09 - ADP

STO (1) Naked Put - ADP July 09 @ $34 for $0.55 each. Net Premium $54.

Risk Management:

Ticker: ADP
Expiratoin: 17-Jul-09
Invest Date 06-Jul-09

Current Stock Price $34.07
Strike Price $34.00
Premium $0.55
Annual Dividend $1.32

Days to Expiration 11
Return (Assumes CSP) 1.62%
Annualized Return 53.68%
Downside Protection 1.82%
Effective Dividend if Put 3.95%