Investment Enhancing Systems, Inc. – Covered Call Analyzer

Covered Call Analyzer CONSERVATIVE "STOCKS-TO-CONSIDER"

for March, 2008

Company Name	Stock Symbol	Stock Price	# of shares	Total Cost*	Option Symbol	Apr Option Bid Price	Income from sale*	Strike Price	Projected return if Called after one month*	Actual $ return*	Actual % Return*
NORTHWEST AIRLINES CORP	NWA	$10.04	900	$9,056	NWADV	$0.75	$652	12.5	31.2%	$8,260	(8.8%)
Comments:	Exercised get-out price on March 27after buying back calls at $0.05
DELTA AIR LINES INC	DAL	$10.00	900	$9,020	DALDV	$0.75	$562	12.5	31.2%	$8,260	(8.8%)
Comments:	Exercised get-out price on March 28 after buying back calls at $0.05
CAPITALSOURCE INC	CSE	$10.23	900	$9,227	CSEDV	$0.75	$652	12.5	28.8%	$11,881	+28.8%
Comments:	Called on April 19, 2008 (expiration weekend), price at $12.50,
TESSERA TECHNOLOGIES	TSRA	14.62	600	$8,792	TJQDW	$1.25	$731	17.5	27.5%	$11,211	+27.5%
Comments:	Called on April 19, 2008 at $17.50.
TRINA SOLAR LTD ADS	TSL	$28.15	300	$8,465	TSLDG	$0.75	$211	35	26.3%	$10,691	+26.3%
Comments:	Called on April 19, 2008 at $35.00.
SUNRISE SENIOR LIVING	SRZ	$20.45	400	$8,200	SRZDE	$0.80	$403048	25	25.4%	$9,588	+16.9%
Comments:	Not called on April 19, 2008 (expiration weekend), price at $21.48, and value including call premium is $9,500, up +12.2%. Will now sell May22.5 at $0.80 expiring on May 17, 2008. Note that we have lowered the strike price because it is still above the purchase price. Called at $22.50 on May 16.
JEFFERIES GROUP INC	JEF	$16.61	600	$9,986	JEFDD	$0.60	$341	20	23.4%	$8,764	(12.2%)
Comments:	Exercised get-out price on April 15 after buying back calls at $0.05
YINGLI GREEN ENERGY ADS	YGE	$14.73	600	$8,858	YGEDW	$0.65	$371	17.5	22.5%	$10,851	+22.5%
Comments:	Called on April 19, 2008 at $17.50.
ISTAR FINANCIAL INC	SFI	$15.14	600	$9,104	SFIDW	$0.70	$401	17.5	19.5%	$10,881	+19.5%
Comments:	Called on April 19, 2008 at $17.50.
ALIGN TECHNOLOGY INC	ALGN	$11.39	800	$9,132	CUADV	$1.10	$858	12.5	18.7%	$8,678	(5.0%)
Comments:	Not called on April 19, 2008 (expiration weekend), price at $10.03, and value including call premium is $9,020, down (1.2%). Will now sell May12.5 at $0.20 expiring on May 17, 2008. Exercised get-out price at $9.68 (-15%) on April 19 after buying back calls at $0.05.
Income from sale of calls is +$5,365.
All positions closed out on May 17. Cost of these ten (10) stocks is $89,875. At May 17, 2008 (expiration weekend), this list value is $99,066, up 10.2%.

*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.

top