Buy ACH -ALUM CORP CHN + Sell Nov Straddle

One of the cheapest big chinese stocks on PE
Due to float in Shangai soon
+ huge 10% dividend
Premium from options sold = $660 credit = 23%
ACH needs to fall by c30% for trade to lose

Stock = (ACH-N) ALUMINIUM CORP CHN
Exchange = New York Stock Exchange (Agent)
Currency = USD
Type = Buy to Open
Quantity = 130
Price = $29.15
Gross = $3,789.50dr
Net = $3,805.45dr

Contract = (ACH-N) ALUMINIUM CORP CHN nov07 30 Call
Exchange = Chicago Board Options Exchange (Agent)
Type = Sell to Open
Quantity = 1
Price = $3
Gross = $300.00cr
Net = $290.00cr
Trade Date = 25 Apr 2007

Contract = (ACH-N) ALUMINIUM CORP CHN nov07 30 Put

Exchange = Chicago Board Options Exchange (Agent)

Sell to Open

Quantity = 1   Trade Date = 25 Apr 2007

Price = $3.6

Gross = $360.00cr

Net = $350.00cr