Investment Enhancing Systems, Inc. – Covered Call Analyzer

Covered Call Analyzer CONSERVATIVE "STOCKS-TO-CONSIDER"

for August, 2007

NOTE: We had temporarily suspended out get-out rule (at -15%) between July 25 and September 22, 2007 because of the volatility in the markets. We have reinstated the get-out rule effective September 22 (expiration weekend). Any open positions on any list or portfolio will be sold if their price drops 15% below the stock price at September 22.

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Company Name	Stock Symbol	Stock Price	# of shares	Total Cost*	Option Symbol	Sep Option Bid Price	Income from sale*	Strike Price	Projected return if Called after one month*	Actual $ return*	Actual % Return*
BEAZER HOMES USA IN	BZH	$11.09	800	$8,892	BHZIV	$1.40	$1,098	12.5	25%	($578)	-6%
Comments:	Not called in September. Price at $10.06on 9/22/2007. Will now sell Oct12.5 at $0.55. Exercised get-out price at $8.55 on September 25 after calling back calls at $0.05.
AMKOR TECHNOLOGY INC	AMKR	$10.69	900	$9,641	QELIV	$0.40	$337	12.5	20%	($274)	-3%
Comments:	Not called in September. Price at $11.10 on 9/22/2007. Will now sell Oct12.5 at $0.25. Not called in October. Price at $11.36 on 10/20/2007. Will now sell Nov12.5 at $0.45. Exercised get-out price at $9.44 on November 8 after calling back calls at $0.05.
VALUECLICK INC.	VCLK	$19.45	500	$9,745	QCXIX	$0.50	$233	22.5	18%	+$1,895	+19%
Comments:	Not called in September. Price at $20.48on 9/22/2007. Will now sell Oct22.5 at $0.35. Called in October at $22.50.
CAL MAINE FOODS INC	CALM	$15.58	600	$9,368	QKMIW	$0.75	$431	17.5	17%	+$1,563	+17%
Comments:	Called in September at $17.50.
GOLDCORP INC.	GG	$21.67	400	$8,688	GGIE	$0.35	$124	25	16%	+1,436	+16%
Comments:	Called in September at $25.00.
COUNTRYWIDE FINANCIAL	CFC	$21.43	400	$8,592	CFCIX	$2.55	$1,004	22.5	16%	($792)	-9%
Comments:	Not called in September. Price at $19.61on 9/22/2007. Will now sell Oct22.5 at $0.40. Exercised Get-out price at $16.67 on October 18 after buying back calls at $0.05.
FOOT LOCKER INC.	FL	$15.28	600	$9,118	FLIW	$0.25	$131	17.5	16%	($460)	-5%
Comments:	Not called in September. Price at $16.34on 9/22/2007. Will now sell Oct17.5 at $0.25. Not called in October. Price at $14.05 on 10/20/2007. Will now sell Nov15 at $0.30. Note that we have lowered the strike price. Exercised Get-out price at $13.89 on November 6 after buying back calls at $0.05.
IMMERSION CORPORATION	IMMR	$13.72	700	$9,624	IMUIC	$0.90	$640	15	15%	+$1,990	+21%
Comments:	Not called in September. Price at $14.72on 9/22/2007. Will now sell Oct15 at $0.75. Called in October at $15.00.
SEPRACOR INC.	SEPR	$26.48	300	$7,964	ERQIF	$0.35	$91	30	14%	($307)	-4%
Comments:	Not called in September. Price at $28.47on 9/22/2007. Will now sell Oct30 at $1.10. Exercised Get-out price at $16.67 on October 19 after buying back calls at $0.05.
RANDGOLD RESOURCES	GOLD	$22.19	400	$8,896	GUDIE	$0.25	$84	25	13%	+$1,188	+13$
Comments:	Called in September at $25.00.
Income from sale of calls is +$6,312.
All positions closed out in November. Cost of these ten (10) stocks is $90,598 Return from premiums and appreciation at +$5,662. Real return is +6.3% ($5,662/$90,598)

*After the effect of all commissions.

The stocks listed above are for illustrative and educational purposes only and should not be construed as an endorsement, recommendation, or solicitation to buy or sell any particular security.

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