I sold 3 BBVA $7 July 21 ’12 Puts @ .55
Net proceeds (after commission) = $152.73
This is obviously a very speculative play. The 52-week low/high is 7.02/13.01. I believe most of the near-term risk is already priced in. If these get assigned I will get 300 shares for an average cost of $6.49/share. I already own 105 shares at a cost of $9.48. Total I’ll have 405 shares at an average cost of $7.27.
BBVA is a 39 billion market cap company at today’s prices. They are currently slightly larger than Bank of Montreal. They have a lot of exposure to Spain. They have been buying up smaller banks recently and they already own a U.S. bank, Compass Bank, that they paid 9.6 Billion for in 2007. I banked with Compass for 10 years before being bought and they have always been well run and profitable. I believe there could be more downside but most of the risk is priced in. I also believe BBVA will do well in the longterm (5+ years).
Their dividend payments have been sporadic:
|
Year
|
Declaration Date
|
Ex-Dividend Date
|
Record Date
|
Payable Date
|
Dividend $ Amount
|
|
2012
|
N/A
|
Jan 05, 2012
|
Jan 09, 2012
|
Jan 25, 2012
|
0.1277
|
|
2012 Total:
|
0.1277
|
||||
|
2011
|
N/A
|
Sep 27, 2011
|
Sep 29, 2011
|
Oct 28, 2011
|
0.1379
|
|
2011
|
N/A
|
Jul 05, 2011
|
Jul 07, 2011
|
Jul 20, 2011
|
0.1421
|
|
2011
|
N/A
|
Mar 29, 2011
|
Mar 31, 2011
|
May 02, 2011
|
0.2138
|
|
2011
|
N/A
|
Jan 05, 2011
|
Jan 07, 2011
|
Jan 20, 2011
|
0.1160
|
|
2011 Total:
|
0.6098
|
||||
|
2010
|
N/A
|
Nov 29, 2010
|
Nov 09, 2010
|
Dec 03, 2010
|
0.3669
|
|
2010
|
N/A
|
Oct 06, 2010
|
Oct 08, 2010
|
Oct 22, 2010
|
0.1244
|
|
2010
|
N/A
|
Jul 07, 2010
|
Jul 09, 2010
|
Jul 22, 2010
|
0.1128
|
|
2010
|
N/A
|
Apr 07, 2010
|
Apr 09, 2010
|
Apr 22, 2010
|
0.2032
|
|
2010
|
N/A
|
Dec 22, 2009
|
Dec 24, 2009
|
Jan 08, 2010
|
0.1293
|
|
2010 Total:
|
0.9366
|
||||
|
2009
|
N/A
|
Oct 07, 2009
|
Oct 09, 2009
|
Oct 23, 2009
|
0.1329
|
|
2009
|
N/A
|
Jul 10, 2009
|
Jul 14, 2009
|
Jul 27, 2009
|
0.1250
|
|
2009
|
N/A
|
Jan 07, 2009
|
Jan 09, 2009
|
Jan 22, 2009
|
0.2171
|
|
2009 Total:
|
0.4750
|
||||
|
2008
|
N/A
|
Oct 07, 2008
|
Oct 09, 2008
|
Oct 20, 2008
|
0.2203
|
|
2008
|
N/A
|
Jul 07, 2008
|
Jul 09, 2008
|
Jul 21, 2008
|
0.2608
|
|
2008
|
N/A
|
Apr 07, 2008
|
Apr 09, 2008
|
Apr 21, 2008
|
0.4288
|
|
2008
|
N/A
|
Jan 07, 2008
|
Jan 09, 2008
|
Jan 22, 2008
|
0.2193
|
|
2008 Total:
|
1.1292
|
||||
|
2007
|
N/A
|
Oct 04, 2007
|
Oct 09, 2007
|
Oct 22, 2007
|
0.2117
|
|
2007
|
N/A
|
Jul 05, 2007
|
Jul 09, 2007
|
Jul 20, 2007
|
0.2035
|
|
2007
|
N/A
|
Apr 04, 2007
|
Apr 09, 2007
|
Apr 20, 2007
|
0.3181
|
|
2007
|
N/A
|
Jan 05, 2007
|
Jan 09, 2007
|
Jan 22, 2007
|
0.1371
|
|
2007 Total:
|
0.8704
|