Covered Call Analyzer from Investment Enhancing Systems, Inc.

Buy 700 shares of MECHEL OAO (MTL) at $6.68 (closing last trade price) and sell 7 call Out-of-the-Money contracts of MTL EU (May$7.50) at $0.50 (closing bid price) expiring on 5/16/2009. Cost is $4,696, and income from sale of the calls is $330 and includes your commissions. Annualized return if called is 245%.
Comments:	Exercised get-out price at $5.68 (-15%) on Apri 30 after buying back calls at $0.05. Final value including sale of all calls is $4,250, down (9.5%).
Buy 700 shares of EAGLE BULK SHIPPING INC (EGLE) at $6.89 (closing last trade price) and sell 7 call Out-of-the-Money contracts of QEK EU (May$7.50) at $0.55 (closing bid price) expiring on 5/16/2009. Cost is $4,843, and income from sale of the calls is $365 and includes your commissions. Annualized return if called is 208%.
Comments:	Exercised get-out price at $5.86 (-15%) on April 20 after buying back calls at $0.05. Final value including sale of all calls is $4,411, down (8.9%).
Buy 200 shares of GARMIN LTD (GRMN) at $22.00 (closing last trade price) and sell 2 call Out-of-the-Money contracts of GQR EE (May$25.00) at $0.55 (closing bid price) expiring on 5/16/2009. Cost is $4,420, and income from sale of the calls is $97 and includes your commissions. Annualized return if called is 200%.
Comments:	Not called on May 16. Price at $20.74 and value at $4,245 down (8.9%) after the sale of all calls. Sold all shares at $20.74 on May 16, 2009 to close out position.
Buy 200 shares of OWENS ILLINOIS INC (OI) at $17.96 (closing last trade price) and sell 2 call Out-of-the-Money contracts of OI ED (May$20.00) at $0.55 (closing bid price) expiring on 5/16/2009. Cost is $3,612, and income from sale of the calls is $97 and includes your commissions. Annualized return if called is 175%.
Comments:	Called on May 16 at $20.00. Total return including call premium is $4,077, up 12.9%.
Buy 300 shares of RAYMOND JAMES FINANCIAL (RJF) at $16.28 (closing last trade price) and sell 3 call Out-of-the-Money contracts of RJF EW (May$17.50) at $1.05 (closing bid price) expiring on 5/16/2009. Cost is $4,904, and income from sale of the calls is $301 and includes your commissions. Annualized return if called is 172%.
Comments:	Not called on May 16. Price at $15.84 and value at $5,052 up 3.0% after the sale of all calls. Sold all shares at $20.74 on May 16, 2009 to close out position.
Buy 100 shares of FASTENAL COMPANY (FAST) at $35.65 (closing last trade price) and sell 1 call Out-of-the-Money contracts of FQA EH (May$40.00) at $0.60 (closing bid price) expiring on 5/16/2009. Cost is $3,585, and income from sale of the calls is $49 and includes your commissions. Annualized return if called is 169%.
Comments:	Not called on May 16. Price at $33.59 and value at $3,408 down (4.9%) after the sale of all calls. Sold all shares at $33.59 on May 16, 2009 to close out position.
Buy 400 shares of ROYAL CARIBBEAN CRUISES (RCL) at $11.98 (closing last trade price) and sell 4 call Out-of-the-Money contracts of RCL EV (May$12.50) at $1.10 (closing bid price) expiring on 5/16/2009. Cost is $4,812, and income from sale of the calls is $424 and includes your commissions. Annualized return if called is 166%.
Comments:	Called on May 16 at $12.50. Total return including call premium is $5,404, up 12.3%.
Buy 200 shares of HERBALIFE LTD (HLF) at $18.63 (closing last trade price) and sell 2 call Out-of-the-Money contracts of HLF ED (May$20.00) at $0.80 (closing bid price) expiring on 5/16/2009. Cost is $3,746, and income from sale of the calls is $147 and includes your commissions. Annualized return if called is 140%.
Comments:	Called on May 16 at $20.00. Total return including call premium is $4,127, up 10.2%.
Buy 100 shares of TERRA INDUSTRIES INC (TRA) at $28.19 (closing last trade price) and sell 1 call Out-of-the-Money contracts of TRA EF (May$30.00) at $1.40 (closing bid price) expiring on 5/16/2009. Cost is $2,839, and income from sale of the calls is $129 and includes your commissions. Annualized return if called is 133%.
Comments:	Not called on May 16. Price at $28.36 and value at $2,965 up 4.4% after the sale of all calls. Sold all shares at $28.36 on May 16, 2009 to close out position.
Buy 100 shares of JB HUNT TRANSPORT SVCS (JBHT) at $27.56 (closing last trade price) and sell 1 call Out-of-the-Money contracts of JHQ EF (May$30.00) at $0.65 (closing bid price) expiring on 5/16/2009. Cost is $2,776, and income from sale of the calls is $54 and includes your commissions. Annualized return if called is 131%.
Comments:	Not called on May 16. Price at $26.90 and value at $2,744 down (1.2%) after the sale of all calls. Sold all shares at $26.90 on May 16, 2009 to close out position.
Buy 200 shares of SOUTHERN COPPER CORP (PCU) at $21.04 (closing last trade price) and sell 2 call Out-of-the-Money contracts of PCU EX (May$22.50) at $0.80 (closing bid price) expiring on 5/16/2009. Cost is $4,228, and income from sale of the calls is $147 and includes your commissions. Annualized return if called is 129%.
Comments:	Exercised get-out price at $17.85 (-15%) on Apri 27 after buying back calls at $0.05. Final value including sale of all calls is $3,694, down (12.6%).
Buy 300 shares of PENN VIRGINIA CORP (PVA) at $14.41 (closing last trade price) and sell 3 call Out-of-the-Money contracts of PVA EC (May$15.00) at $0.95 (closing bid price) expiring on 5/16/2009. Cost is $4,343, and income from sale of the calls is $271 and includes your commissions. Annualized return if called is 128%.
Comments:	Called on May 16 at $15.00. Total return including call premium is $4,751, up (9.4%).
Buy 200 shares of HOLLY CORP (HOC) at $23.98 (closing last trade price) and sell 2 call Out-of-the-Money contracts of HOC EE (May$25.00) at $1.40 (closing bid price) expiring on 5/16/2009. Cost is $4,816, and income from sale of the calls is $267 and includes your commissions. Annualized return if called is 122%.
Comments:	Not called on May 16. Price at $23.53 and value at $4,974 up 3.3% after the sale of all calls. Sold all shares at $23.53 on May 16, 2009 to close out position.
Buy 100 shares of ILLINOIS TOOL WORKS INC (ITW) at $32.22 (closing last trade price) and sell 1 call Out-of-the-Money contracts of ITW EG (May$35.00) at $0.55 (closing bid price) expiring on 5/16/2009. Cost is $3,242, and income from sale of the calls is $44 and includes your commissions. Annualized return if called is 121%.
Comments:	Not called on May 16. Price at $33.01 and value at $3,345 up 3.2% after the sale of all calls. Sold all shares at $33.01 on May 16, 2009 to close out position.
Buy 200 shares of FRONTLINE LTD (FRO) at $18.99 (closing last trade price) and sell 2 call Out-of-the-Money contracts of FRO ED (May$20.00) at $0.85 (closing bid price) expiring on 5/16/2009. Cost is $3,818, and income from sale of the calls is $157 and includes your commissions. Annualized return if called is 116%.
Comments:	Called on May 16 at $20.00. Total return including call premium is $4,137, up (8.4%).
Buy 200 shares of HCP INC (HCP) at $21.79 (closing last trade price) and sell 2 call Out-of-the-Money contracts of HCP EX (May$22.50) at $1.40 (closing bid price) expiring on 5/16/2009. Cost is $4,378, and income from sale of the calls is $267 and includes your commissions. Annualized return if called is 116%.
Comments:	Not called on May 16. Price at $20.60 and value at $4,37 up 0.2% after the sale of all calls. Sold all shares at $20.60 on May 16, 2009 to close out position.
Buy 100 shares of ESTEE LAUDER CO INC THE (EL) at $27.98 (closing last trade price) and sell 1 call Out-of-the-Money contracts of EL EF (May$30.00) at $0.80 (closing bid price) expiring on 5/16/2009. Cost is $2,818, and income from sale of the calls is $69 and includes your commissions. Annualized return if called is 116%.
Comments:	Called on May 16 at $30.00. Total return including call premium is $3,049, up (8.2%).
Buy 100 shares of BLACK & DECKER CORP (BDK) at $33.53 (closing last trade price) and sell 1 call Out-of-the-Money contracts of BDK EG (May$35.00) at $1.65 (closing bid price) expiring on 5/16/2009. Cost is $3,373, and income from sale of the calls is $154 and includes your commissions. Annualized return if called is 109%.
Comments:	Not called on May 16. Price at $31.58 and value at $3,311 down (1.8%) after the sale of all calls. Sold all shares at $31.58 on May 16, 2009 to close out position.
Buy 200 shares of GARMIN LTD (GRMN) at $22.00 (closing last trade price) and sell 2 call Out-of-the-Money contracts of GQR EX (May$22.50) at $1.40 (closing bid price) expiring on 5/16/2009. Cost is $4,420, and income from sale of the calls is $267 and includes your commissions. Annualized return if called is 102%.
Comments:	Not called on May 16. Price at $20.74 and value at $4,415 down (0.1%) after the sale of all calls. Sold all shares at $20.74 on May 16, 2009 to close out position.
Buy 100 shares of INFOSYS TECHNOLOGIES ADS (INFY) at $27.98 (closing last trade price) and sell 1 call Out-of-the-Money contracts of IUN EF (May$30.00) at $0.50 (closing bid price) expiring on 5/16/2009. Cost is $2,818, and income from sale of the calls is $39 and includes your commissions. Annualized return if called is 102%.
Comments:	Called on May 16 at $22.50. Total return including call premium is $3,019, up (7.1%).
Income from sale of calls is +$3,537
All positions closed on May 16, 2009; Cost of these ten (20) stocks is $78,486 . At May 16, 2009 (expiration weekend), this list value is $79,763, up 1.6%. The DOW was up 1.7% for the period this list was open.