Johnson Controls (JCI) was down 8% after reporting it's quarterly report this morning. I think this was a little overdone. So I decided to sell an Oct 20 '12 $25 Put @ 1.20. If this gets assigned I'll own JCI with a YOC of just over 3%. From a quick look, it seems that JCI has increased its dividend every year since 1998 besides during the great recession of 2009. I really wouldn't mind owning the stock but if I get a good opportunity to buy back the put at a profit then I may do so.
From Etrade:
Johnson Controls, Inc. (Johnson Controls) provides automotive interiors. It provides batteries for automobiles and hybrid electric vehicles, along with related systems engineering, marketing and service expertise. Its building efficiency business designs, produces, markets and installs integrated heating, ventilating and air conditioning systems, building management systems, controls, security and mechanical equipment. In addition, the building efficiency business provides technical services, energy management consulting and operations of entire real estate portfolios. In May 2011, it sold its commercial refrigeration to YIT Oyj. In September 2011, it acquired Li-ion automotive battery joint venture from Saft Groupe SA. On March 26, 2012, Pricol Pune Limited became a 50:50 joint venture company of Pricol Limited and the Company. In April 2012, Emerson Electric Co acquired the Marine Container and Boiler business of the Company.
You can see all of my options activity on my options tab.
Not feel so great after reading of decline in shares.
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