Company Name

Stock Symbol

Stock Price

# of shares

Total Cost*

 Option Symbol

 Jun

 Option Price

Income from sale*

Strike Price

Projected return if Called after one month*

Actual 

$ 

return*

Actual 

% 

Return*

QIAO XING UNIVERSAL

XING

$13.55

700

$9,505

QAEFC

$0.40

$260

15

13%

Comments:

Not called in June. Price at $13.49 on 6/16/2007. Sold Jul15 at $0.45. Share price dropped below our get-out price at $11.52 (-15%) on July 17. Since it was within a week we decided to hold the stock to expiration so we would not have to buy back the calls. Sold all shares at $11.20 after expiration.

NETEASE.COM INC. -A

NTES

$17.83

500

$8,935

NQGFD

$0.25

$108

20

13%

Comments:

Not called in June. Price at $17.48 on 6/16/2007. Sold Jul17.5 at $0.55. Note that we have lowered the strike price. Called in July at $17.50.

IMERGENT, INC.

IIG

$23.10

400

$9,260

IIGFE

$0.90

$344

25

11%

Comments:

Not called in June. Price at $25.00 (the strike price) on 6/16/2007. Sold Jul25 at $1.50. Not called in July. Price at $24.43 on 7/21/2007. Will now sell Aug25 at $0.75. Not called in August. Price at $18.24 on 8/18/2007. Will now sell Sep20 at $0.65. Note that we have lowered the strike price. Called in September at $20.00.

CHICO'S FAS INC.

CHS

$24.90

400

$9,980

CHSFY

$0.30

$104

27.5

11%

Comments:

Not called in June. Price at $25.41 on 6/16/2007. Sold Jul27.5 at $0.30. Share price dropped below our get-out price at $21.17 (-15%) on July 18. Since it was within a week we decided to hold the stock to expiration so we would not have to buy back the calls. Sold all shares at $21.10 after expiration.

MASSEY ENERGY COMPANY

MEE

$27.38

300

$8,234

MEEFF

$0.55

$151

30

11%

Comments:

Not called in June. Price at $27.98 on 6/16/2007. Sold Jul30 at $0.60. Not called in July. Price at $23.45 on 7/21/2007. Sold all shares at $23.45 to close out position.

GPS

$18.44

500

$9,240

GPSFD

$0.25

$108

20

9%

Comments:

Not called in June. Price at $18.97 on 6/16/2007. Sold Jul20 at $0.20. Not called in July. Price at $18.63 on 7/21/2007. Will now sell Aug20 at $0.15. Not called in August. Price at $17.24 on 8/18/2007. Will now sell Sep20 at $0.10. Not called in September. Price at $18.50 on 9/22/2007. Will now sell Oct20 at $0.15. Not called in October. Price at $17.75 on 10/20/2007. Will now sell Nov20 at $0.15. Called in November at $20.00.

TALBOTS INC

TLB

$20.85

400

$8,360

TLBFX

$0.30

$104

22.5

9%

Comments:

Not called in June. Price at $21.86 on 6/16/2007. Sold Jul22.5 at $0.50. Called in July at $22.50.

OMNIVISION TECHNOLOGY

OVTI

$14.40

600

$8,660

UCMFC

$0.65

$371

15

8%

Comments:

Called in June at $15.00.

APRIA HEALTHCARE GROUP

AHG

$28.33

300

$8,519

AHGFF

$0.65

$181

30

8%

Comments:

Not called in June. Price at $29.03 on 6/16/2007. Sold Jul30 at $0.65. Not called in July. Price at $29.57 on 7/21/2007. Will now sell Aug30 at $0.90. Not called in August. Price at $25.77 on 8/18/2007. Will now sell Sep30 at $0.15. Not called in September. Price at $26.68 on 9/22/2007. Sold all shares at $26.68 to close out postion.

GEORGIA GULF CORP

GGC

$18.99

500

$9,515

GGCFD

$0.50

$233

20

7%

Comments:

Exercised get-out price at $16.14 (-15%) after buying back calls at $0.05.

Income from sale of calls is +$4,791.

All positions closed out in November. Cost of these ten (10) stocks is $90,208 Return from premiums and appreciation at ($1,177) Real return is -1.3% (($1,177)/$90,208)