Today, 5/3/12, I BTC 1 ANR May 4, 2012, $16 weekly Put and sold 1 ANR Jun12 $15 Put for a net deposit of $12.49 in an IRA account.  This transaction represents a simple return of about .85% and an annualized return of about 7.28% with 42 days left to expiration.  My basis for these ANR shares would now be about $14.71 if assigned.

I had originally thought I would let these share be assigned tomorrow.  However, the price has fallen so much that I decided to roll this Put out and down one dollar.  I would probably have been okay taking the Put assignment and selling Calls at $16 but just felt better at the moment to do the roll.

ANR does not pay a dividend so these ANR shares are most definitely a trade and not an investment.  S&P continues a 12-month price target of $19 and a hold recommendation on ANR.  MarketEdge continues a price opinion of $16.15 and a Neutral recommendation.  The 23 Yahoo brokers covering ANR are more optimistic with a 12-month price target of $23.78 and a recommendation of 2.1 where 1.0 is a Strong Buy and 5.0 is a Strong Sell.

Today, I sold 1 May 4, 2012, weekly Put for a net deposit of $37.24 in an IRA account.  This transaction represents a simple return of about 2.30% and an annualized return of about 104.93% with 8 days left to expirations.  My basis for these ANR shares would be about $15.83 if assigned.

As I mentioned recently, I have been watching ANR for an opportunity to sell some out of the money weekly Puts in order to put some idle cash to work.  I sold some Puts in another IRA account that should expire worthless tomorrow.  I had enough idle cash in this account to just sell the one Put contract, so not seeing anything better (I know it’s there but I just did not see it) I decided to make the sale.  If assigned, I will look to sell either the weekly or the monthly Covered Call at the $16 or, more likely, the $17 strike price.  If these Puts expire worthless I will see if I can sell $16 Puts again for the following week.

ANR does not pay a dividend so these ANR shares are most definitely a trade and not an investment.  S&P continues a 12-month price target of $19 and a hold recommendation on ANR.  MarketEdge has a price opinion of $16.15 and a Neutral recommendation.  The 23 Yahoo brokers covering ANR are more optimistic with a 12-month price target of $23.78 and a recommendation of 2.1 where 1.0 is a Strong Buy and 5.0 is a Strong Sell.

Today, I sold 3 April 27, 2012, weekly Puts for a net deposit of $34.73 in an IRA account.  This transaction represents a simple return of about .72% and an annualized return of about 87.96% with 3 days left to expirations.  My basis for these ANR shares would be about $15.91 if assigned.

As I mentioned yesterday, I was watching ANR for an opportunity to sell some out of the money weekly Puts in order to put some idle cash to work.  I had intended to make a decision tomorrow but pulled the trigger today because ANR is up above $16 nicely today.  If assigned, I will look to sell either the weekly or the monthly Covered Call at the $16 or, more likely, the $17 strike price.  If these Puts expire worthless I will see if I can sell $16 Puts again for the following week.

ANR does not pay a dividend so these ANR shares are most definitely a trade and not an investment.  S&P continues a 12-month price target of $19 and a hold recommendation on ANR.  MarketEdge has a price opinion of $16.15 and a Neutral recommendation.  The 23 Yahoo brokers covering ANR are more optimistic with a 12-month price target of $23.78 and a recommendation of 2.1 where 1.0 is a Strong Buy and 5.0 is a Strong Sell.