Equity put option written

I wrote another put option against the Hong Kong Tracker fund (2800) today:

Strike: $14.36
Price of underlying : $15.40
Determination date: 21 May 2009
Maturity: 25 May, 2009
Implied annualised yield (if not exercised): 9.03%

This is a lower yield than my other outstanding contract, reflecting the perception that risk levels have fallen.

As an aside, I could get much higher yields by writing options against individual stocks. However, this carries higher risks and I am more comfortable with lower yields against an index fund. Contracts on individual contracts would also require me to get approval under our staff dealing policies.