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%

Comments:

Called in April at $15.00.

CONTINENTAL AIRLINES

CAL

$36.83

200

$7,386

CALDH

$1.15

$217

40

11%

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%

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%

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.

IBN

$36.91

200

$7,402

IBNDH

$0.90

$167

40

10%

Comments:

Called in April at $40.00.

MTH

$32.34

300

$9,722

MTHDG

$0.75

$211

35

10%

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%

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%

Comments:

Called in April at $22.50.

WORTHINGTON INDUSTRIES

WOR

$18.61

500

$9,325

WORDD

$0.35

$158

20

9%

Comments:

Called in April at $20.00.

AGNICO-EAGLE MINES

AEM

$37.69

200

$7,558

AEMDH

$1.05

$197

40

8%

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)