Investment Enhancing Systems, Inc. – Covered Call Analyzer

Covered Call Analyzer CONSERVATIVE "STOCKS-TO-CONSIDER"

for December, 2007

Company Name	Stock Symbol	Stock Price	# of shares	Total Cost*	Option Symbol	Jan Option Bid Price	Income from sale*	Strike Price	Projected return if Called after one month*	Actual $ return*	Actual % Return*
MBIA INC.	MBI	$20.03	400	$8,032	MBIAF	$0.35	$124	30	49%	($1,112)	-14%
Comments:	Exercised get-out price at $17.03 (-15%) on January 8 after buying back calls at $0.05.
US AIRWAYS GROUP INC	LCC	$15.40	600	$9,260	LCCAD	$0.25	$131	20	30%	($1,304)	-14%
Comments:	Exercised get-out price at $13.09 (-15%) on January 3 after buying back calls at $0.05.
UNITED RENTALS INC.	URI	$17.91	500	$8,975	URIAX	$0.50	$233	22.5	27%	($712)	-8%
Comments:	Not called in January, 2008. Price at $16.02 on 1/19/2008. All shares sold at $16.02 to close out position for the year.
ADC TELECOMM	ADCT	15.91	600	$9,566	TLQAD	$0.25	$131	20	26%	($1,352)	-14%
Comments:	Exercised get-out price at $13.09 (-15%) on January 8 after buying back calls at $0.05.
PALOMAR MEDICAL TECH	PMTI	$18.77	500	$9,405	HKQAX	$0.40	$183	22.5	21%	($1,270)	-14%
Comments:	Exercised get-out price at $13.09 (-15%) on December 27 after buying back calls at $0.05.
KING PHARMA	KG	$10.57	900	$9,533	KGAV	$0.30	$247	12.5	20%	($113)	-1%
Comments:	Not called in January, 2008. Price at $10.17 on 1/19/2008. All shares sold at $10.17 to close out position for the year.
AMERICREDIT CORP.	ACF	$12.93	700	$9,071	ACFAC	$0.50	$330	15	19%	($1,084)	-12%
Comments:	Exercised get-out price at $10.09 (-15%) on January 17 after buying back calls at $0.05.
PMI GROUP INC.	PMI	$13.14	700	$9,218	PMIAC	$0.75	$505	15	19%	($930)	-10%
Comments:	Exercised get-out price at $13.09 (-15%) on January 4 after buying back calls at $0.05.
YRC WORLDWIDE INC.	YRCW	$17.05	500	$8,545	YUXAD	$0.25	$108	20	18%	($1,215)	-14%
Comments:	Exercised get-out price at $13.09 (-15%) on January 3 after buying back calls at $0.05.
BUILD-A-BEAR-WORKSHOP	BBW	$15.00	600	$9,020	BBWAW	$0.30	$161	17.5	18%	($1,238)	-14%
Comments:	Exercised get-out price at $13.09 (-15%) on January 3 after buying back calls at $0.05.
Income from sale of calls is +$1,772.
Cost of these ten (10) stocks is $90,625 Return from premiums and appreciation at ($10,330). Real return is -11.4% (($10,330)/$90,625)

*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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