The Rockler Magnetic Cord Keeper is a 1-1/2-inch diameter, 7/8-inch thick rare Earth magnetic clip that attaches to any ferrous metal objet to keep unplugged power tool cords off the ground and out of the way. This helps eliminate tripping accidents and keeps the cord ends free of debris, along with the convenience factors. A notched opening is sized right for holding pens, pencils or drill chucks. The Magnetic Cord Keeper (item 42388) sells for $7.99 for a pack of two.