Trade - 8/19/09 - HCBK

STO (5) Naked Put - HCBK (HUDSON CITY BANCORP INC) Sep 09 @ $12.50 Strike for $0.20 each. Net Premium $97. This is a regional bank in New Jersey and New York. They are taking advantage of other banks misfortunes. Pull their quarterly and yearly financials and watch how they are growing. Also they are commited to shareholder value and are buying back shares. My BB&T Calls were all taken early so I am looking for some "financial" industry exposure.

Risk Management:

Ticker: HCBK
Expiratoin: 18-Sep-09
Invest Date 19-Aug-09

Current Stock Price $13.42
Strike Price $12.50
Premium $0.20
Annual Dividend $0.60

Days to Expiration 30
Return (Assumes CSP) 1.60%
Annualized Return 19.47%
Downside Protection 8.35%
Effective Dividend if Put 4.88%