Covered Call Analyzer from Investment Enhancing Systems, Inc.

Covered Call Analyzer CONSERVATIVE "STOCKS-TO-CONSIDER"

for March, 2007

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Company Name

Stock Symbol

Stock Price

# of shares

Total Cost*

Option Symbol

Apr

Option Price

Income from sale*

Strike Price

Projected return if Called after one month*

Actual

$

return*

Actual

%

Return*

SIERRA WIRELESS INC.

SWIR

$13.64

700

$9,568

IYQDC

$0.25

$155

15

11%
+$1,087 +11%

Comments:

Called in April at $15.00.

CONTINENTAL AIRLINES

CAL

$36.83

200

$7,386

CALDH

$1.15

$217

40

11%
-$3 0%

Comments:

Not called in April. Price at $38.92 on 4/21/2007. Will now sell May40 at $1.50. Not called in May. Price at $38.21 on 5/19/2007. Will now sell Jun40 at $1.30. Not called in June. Price at $33.09 on 6/16/2007. Sold all shares at $33.09 to close out position

STANDARD PACIFIC CORP

SPF

$22.90

400

$9,180

SPFDE

$0.50

$184

25

11%
($1,036) -11%

Comments:

Not called in April. Price at $22.04 on 4/21/2007. Will now sell May25 at $0.20. Not called in May. Price at $21.02 on 5/19/2007. Will now sell Jun22.5 at $0.35. Note that we have lowered the strike price. Exercised get-out price at $19.47 (-15%) on June 12 after buying back the calls at $0.05.

D. H. HORTON INC

DHI

$22.83

400

$9,152

DHIDE

$0.40

$144

25

11%
+$80 +1%

Comments:

Not called in April. Price at $23.39 on 4/21/2007. Will now sell May25 at $1.35. Not called in May. Price at $22.55 on 5/19/2007. Holding. Price at $21.36 on 6/16/2007. Sold all shares at $21.36 to close out position.

ICICI BANK LTD
IBN

$36.91

200

$7,402

IBNDH

$0.90

$167

40

10%
+$765 +10%

Comments:

Called in April at $40.00.

MERITAGE HOMES
MTH

$32.34

300

$9,722

MTHDG

$0.75

$211

35

10%
($275) -3%

Comments:

Not called in April. Price at $33.70 on 4/21/2007. Will now sell May35 at $0.90. Not called in May. Price at $34.00 on 5/19/2007. Will now sell Jun35 at $0.95. Not called in June. Price at $29.82 on 6/16/2007. Sold all shares at $29.82 to close out position.

YAHOO, INC.

YHOO

$29.88

300

$8,984

YHQDZ

$0.50

$136

32.5

10%
($305) -3%

Comments:

Not called in April. Price at $27.46 on 4/21/2007. Holding. Price at $29.75 on 5/19/2007. Will now sell Jun30 at $1.15. Note that we have lowered the strike price but it is still above the purchase price. Not called in June. Price at $27.31 on 6/16/2007. Sold all shares at $27.31 to close out position.

BLOCK (H&R)

HRB

$20.88

400

$8,372

HRBDX

$0.35

$124

22.5

9%
+$752 +9%

Comments:

Called in April at $22.50.

WORTHINGTON INDUSTRIES

WOR

$18.61

500

$9,325

WORDD

$0.35

$158

20

9%
+$833 +9%

Comments:

Called in April at $20.00.

AGNICO-EAGLE MINES

AEM

$37.69

200

$7,558

AEMDH

$1.05

$197

40

8%
+$173 +2%

Comments:

Not called in April. Price at $37.42 on 4/21/2007. Will now sell May40 at $0.75. Not called in May. Price at $35.02 on 5/19/2007. Will now sell Jun40 at $0.20. Not called in June. Price at $36.75 on 6/16/2007. Sold all shares at $36.75 to close out position.

Income from sale of calls is +$3,667.

All positions closed out in June, 2007, many sold off in June because they were not generating enough call premium to keep.
Cost of these ten (10) stocks is $86,649 Return from premiums and appreciation at +$2,077. Real return is 2.4% ($2,077/$86,649)

*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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Company Name	Stock Symbol	Stock Price	# of shares	Total Cost*	Option Symbol	Apr Option Price	Income from sale*	Strike Price	Projected return if Called after one month*	Actual $ return*	Actual % Return*
SIERRA WIRELESS INC.	SWIR	$13.64	700	$9,568	IYQDC	$0.25	$155	15	11%	+$1,087	+11%
Comments:	Called in April at $15.00.
CONTINENTAL AIRLINES	CAL	$36.83	200	$7,386	CALDH	$1.15	$217	40	11%	-$3	0%
Comments:	Not called in April. Price at $38.92 on 4/21/2007. Will now sell May40 at $1.50. Not called in May. Price at $38.21 on 5/19/2007. Will now sell Jun40 at $1.30. Not called in June. Price at $33.09 on 6/16/2007. Sold all shares at $33.09 to close out position
STANDARD PACIFIC CORP	SPF	$22.90	400	$9,180	SPFDE	$0.50	$184	25	11%	($1,036)	-11%
Comments:	Not called in April. Price at $22.04 on 4/21/2007. Will now sell May25 at $0.20. Not called in May. Price at $21.02 on 5/19/2007. Will now sell Jun22.5 at $0.35. Note that we have lowered the strike price. Exercised get-out price at $19.47 (-15%) on June 12 after buying back the calls at $0.05.
D. H. HORTON INC	DHI	$22.83	400	$9,152	DHIDE	$0.40	$144	25	11%	+$80	+1%
Comments:	Not called in April. Price at $23.39 on 4/21/2007. Will now sell May25 at $1.35. Not called in May. Price at $22.55 on 5/19/2007. Holding. Price at $21.36 on 6/16/2007. Sold all shares at $21.36 to close out position.
ICICI BANK LTD	IBN	$36.91	200	$7,402	IBNDH	$0.90	$167	40	10%	+$765	+10%
Comments:	Called in April at $40.00.
MERITAGE HOMES	MTH	$32.34	300	$9,722	MTHDG	$0.75	$211	35	10%	($275)	-3%
Comments:	Not called in April. Price at $33.70 on 4/21/2007. Will now sell May35 at $0.90. Not called in May. Price at $34.00 on 5/19/2007. Will now sell Jun35 at $0.95. Not called in June. Price at $29.82 on 6/16/2007. Sold all shares at $29.82 to close out position.
YAHOO, INC.	YHOO	$29.88	300	$8,984	YHQDZ	$0.50	$136	32.5	10%	($305)	-3%
Comments:	Not called in April. Price at $27.46 on 4/21/2007. Holding. Price at $29.75 on 5/19/2007. Will now sell Jun30 at $1.15. Note that we have lowered the strike price but it is still above the purchase price. Not called in June. Price at $27.31 on 6/16/2007. Sold all shares at $27.31 to close out position.
BLOCK (H&R)	HRB	$20.88	400	$8,372	HRBDX	$0.35	$124	22.5	9%	+$752	+9%
Comments:	Called in April at $22.50.
WORTHINGTON INDUSTRIES	WOR	$18.61	500	$9,325	WORDD	$0.35	$158	20	9%	+$833	+9%
Comments:	Called in April at $20.00.
AGNICO-EAGLE MINES	AEM	$37.69	200	$7,558	AEMDH	$1.05	$197	40	8%	+$173	+2%
Comments:	Not called in April. Price at $37.42 on 4/21/2007. Will now sell May40 at $0.75. Not called in May. Price at $35.02 on 5/19/2007. Will now sell Jun40 at $0.20. Not called in June. Price at $36.75 on 6/16/2007. Sold all shares at $36.75 to close out position.
Income from sale of calls is +$3,667.
All positions closed out in June, 2007, many sold off in June because they were not generating enough call premium to keep. Cost of these ten (10) stocks is $86,649 Return from premiums and appreciation at +$2,077. Real return is 2.4% ($2,077/$86,649)