Company Name

Stock Symbol

Stock Price

# of shares

Total Cost*

 Option Symbol

 Jan

 Option Price

Income from sale*

Strike Price

Projected return if Called after one month*

Actual 

$ 

return*

Actual 

% 

Return*

Orckit Comm.

ORCT

$10.64

900

$9,596

QEOAV

$0.25

$202

12.5

19%

Comments:

Not called in January. Sold all shares at $9.83 at January 2007 expiration  to closes out position

Rambus Inc.

RMBS

$20.03

400

$8,032

BNQAX

$0.60

$224

22.5

14%

Comments:

Not called in January. Sold all shares at $17.85 at January expiration to closes out position

Advanced Micro Devices

AMD

$22.12

400

$8,868

AMDAE

$0.35

$124

25

14%

Comments:

Exercised get-out price at $18.80 on December 22, 2006 after buying back the calls at $0.05.

Lifecell Corp.

LIFC

$22.21

400

$8,904

QKLAE

$0.45

$164

25

14%

Comments:

Not called in January. Sold all shares at $24.47 at January 2007 expiration to closes out position

Circuit City Stores

CC

$23.17

400

$9,288

CCAE

$0.50

$184

25

10%

Comments:

Exercised get-out price at $19.69 on December 19, 2006 after buying back the calls at $0.05.

Comverse Technology

CMVT

$20.93

400

$8,392

CQVAX

$0.35

$124

22.5

9%

Comments:

Not called in January. Sold all shares at $20.00 at January 2007 expiration to closes out position

VEECO Instruments

VECO

$18.67

500

$9,355

QVCAD

$0.30

$133

20

8%

Comments:

Not called in January. Sold all shares at $19.29 at January 2007 expiration to closes out position

Urban Outfitters

URBN

$24.00

400

$9,620

URQAE

$0.70

$264

25

7%

Comments:

Not called in January. Sold all shares at $24.72 at January expiration to closes out position

Martek Biosicnces

MATK

$24.03

400

$9,632

KQTAE

$0.70

$264

25

7%

Comments:

Not called in January. Sold all shares at $22.92 at January 2007 expiration to closes out position

Ryerson Inc.

RYI

$24.50

400

$9,820

RYIAE

$0.80

$304

25

5%

Comments:

Called in January at $25.00.

Value at January expiration (end of 2006) is down ($1,896)