Today, 6/27/12, I sold 1 NLY Oct12 $16.00 Put for a net deposit of $39.24 in an IRA Account. My basis for these NLY shares, if Put to me, would be about $15.81. This transaction represents a simple return of about 2.48% and an annualized return of about 7.84% with 115 days to expiration.
As I just wrote in my post about selling a WFC Put my July EIX $42.50 Call was exercised and those shares were called away. I still had some of that cash to use, and decided that NLY was a decent place to use it, especially since I like NLY for its dividend, and would not mind owning more of it. If I am assigned, I will look to sell Covered Calls on the shares and hopefully be able to collect some dividends in the mean time.
S&P has a 12-month price target of $17 with a Hold recommendation. MarketEdge Second Opinion has a price opinion of $16.66 with a Long recommendation. The 18 Yahoo! Analysts have a 12-month price target of $16.94 and a 2.7 recommendation where 1.0 is a Strong Buy and 5.0 is a Strong Sell.