This afternoon I wrote some put options against Hutchison Whampoa (13). HWL is a stock I already own (in fact it is my largest individual stock holding) and am happy to acquire more of with a view to expecting continued turn around in 3G and continued growth in the other core businesses.
Here are the details:
Underlying: Hutchison Whampoa (13)
Strike: $59.55
Market: $60.40
Maturity: 21/09/2010
Annualised yield: 25.2%
Effective purchase price if exercised: $58.28
Effective discount to market price if exercised: 3.5%
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