Metlife Inc. (MET) presents a trading opportunity that offers a 4.62% return in just 60 days.

A covered call on MetLife at the $55.00 level expiring on Feb. '15 offers an assigned return rate of 4.62% or 28.12% annualized. This trade offers 2.32% downside protection, and offers some profit so long as the stock closes above $52.57 at expiration.

A lower-cost hedged trade on MetLife would involve buying the Jan. '16 $35.00 for about $19.55 instead of taking a long position on MET and pairing it with the same sold call. This positions costs $18.30 instead of the $52.57 it costs to initiated the covered call. This trade has an assigned return rate of 9.29%. In this position the stock can fall by 0.97% before any losses are incurred. This trade has an assigned return rate of 9.29% or 57% annualized (for comparison purposes only).

MetLife has traded between $46.15 and $57.57 over the last 52 weeks and traded between $53.21 and $54.21 Friday. Technical indicators are bearish and support has been near $52.75 and resistance has been around $54.75.