Buy 200 shares of SUNTRUST BANKS INC (STI) at $22.45  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of STI LG (Dec$35.00) at $0.50 (closing bid price) expiring on 12/20/2008. Cost is $4,510, and income from sale of the calls is $87 and includes your commissions.  Annualized return if called is 745%.

Comments:

Not called on December 20. Will now sell Dec35 at $0.80. Price at $29.19 and value at $6,072 , up 34.6% on December 20 including sale of all calls. Not called on January 17.  Sold all shares at $19.94 to close out position on January 17. Proceeds $3,968 after commission. Final value including sale of all calls is $4,222, down (6.4%).

Buy 400 shares of TEEKAY CORP (TK) at $12.05  (closing last trade price) and sell 4 call  Out-of-the-Money contracts of TK LW (Dec$17.50) at $0.50 (closing bid price) expiring on 12/20/2008. Cost is $4,840, and income from sale of the calls is $184 and includes your commissions.  Annualized return if called is 631%.

Comments:

Not called on December 20. Will now sell Dec17.5 at $0.60. Price at $15.67and value at $6,676 , up 37.9% on December 20 including sale of all calls. Called on January 17 at $17.50. Proceeds $6,980 after commission. Final value including sale of all calls is $7,388, up 52.6%.

Buy 200 shares of METLIFE INC (MET) at $18.48  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of MET LE (Dec$25.00) at $1.40 (closing bid price) expiring on 12/20/2008. Cost is $3,716, and income from sale of the calls is $267 and includes your commissions.  Annualized return if called is 544%.

Comments:

Called on December 20 at $25.00. Proceeds $4,980 after commission. Final value including sale of all calls is $5,247, up 41.2%.

Buy 200 shares of SUNTRUST BANKS INC (STI) at $22.45  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of STI LF (Dec$30.00) at $1.25 (closing bid price) expiring on 12/20/2008. Cost is $4,510, and income from sale of the calls is $237 and includes your commissions.  Annualized return if called is 499%.

Comments:

Not called on December 20. Will now sell Dec30 at $2.40. Price at $29.19 and value at $6,542 , up 45.1% on December 20 including sale of all calls. Not called on January 17.  Sold all shares at $19.94 to close out position on January 17. Proceeds $3,968 after commission. Final value including sale of all calls is $4,692, up 4.0%

Buy 300 shares of ICICI BANK LTD ADS (IBN) at $13.09  (closing last trade price) and sell 3 call  Out-of-the-Money contracts of IBN LW (Dec$17.50) at $0.70 (closing bid price) expiring on 12/20/2008. Cost is $3,947, and income from sale of the calls is $196 and includes your commissions.  Annualized return if called is 495%.

Comments:

Called on December 20 at $17.50. Proceeds $5,230 after commission. Final value including sale of all calls is $5,426, up 37.5%.

Buy 300 shares of MARSHALL & ILSLEY CORP (MI) at $13.06  (closing last trade price) and sell 3 call  Out-of-the-Money contracts of MI LW (Dec$17.50) at $0.60 (closing bid price) expiring on 12/20/2008. Cost is $3,938, and income from sale of the calls is $166 and includes your commissions.  Annualized return if called is 489%.

Comments:

Not called on December 20. Will now sell Dec17.5 at $0.20. Price at $12.87 and value at $4,072 , up 3.4% on December 20 including sale of all calls. Exercised get-out price at $11.10 (-15%) on January 14 after buying back calls at $0.05. Proceeds $3,310 after commission. Final value including sale of all calls is $3,512, down (10.8%).

Buy 300 shares of NEXEN INC (NXY) at $13.16  (closing last trade price) and sell 3 call  Out-of-the-Money contracts of NXY LW (Dec$17.50) at $0.60 (closing bid price) expiring on 12/20/2008. Cost is $3,968, and income from sale of the calls is $166 and includes your commissions.  Annualized return if called is 476%.

Comments:

Not called on December 20. Will now sell Dec17.5 at $1.50. Price at $16.93 and value at $5,680 , up 43.1% on December 20 including sale of all calls. Called on January 17 at $15.71. Proceeds $4,693 after commission. Final value including sale of all calls is $5,314, up 33.9%.

Buy 100 shares of OVERSEAS SHIPHOLDING GRP (OSG) at $29.92  (closing last trade price) and sell 1 call  Out-of-the-Money contracts of OSG LH (Dec$40.00) at $0.60 (closing bid price) expiring on 12/20/2008. Cost is $3,012, and income from sale of the calls is $49 and includes your commissions.  Annualized return if called is 449%.

Comments:

Not called on December 20. Will now sell Dec40 at $3.10. Price at $39.55 and value at $4,302 , up 42.8% on December 20 including sale of all calls. Called on January 17 at $40.00. Proceeds $3,980 after commission. Final value including sale of all calls is $4,327, up 43.7%.

Buy 100 shares of AFLAC INC (AFL) at $33.71  (closing last trade price) and sell 1 call  Out-of-the-Money contracts of AFL LI (Dec$45.00) at $0.65 (closing bid price) expiring on 12/20/2008. Cost is $3,391, and income from sale of the calls is $54 and includes your commissions.  Annualized return if called is 447%.

Comments:

Called on December 20 at $45.00. Proceeds $4,480 after commission. Final value including sale of all calls is $4,533, up 33.7%.

Buy 100 shares of SOUTHWESTERN ENERGY CO (SWN) at $26.70  (closing last trade price) and sell 1 call  Out-of-the-Money contracts of SWN LG (Dec$35.00) at $1.15 (closing bid price) expiring on 12/20/2008. Cost is $2,690, and income from sale of the calls is $104 and includes your commissions.  Annualized return if called is 443%.

Comments:

Not called on December 20. Will now sell Dec35 at $0.60. Price at $28.23 and value at $2,975 , up 10.6% on December 20 including sale of all calls. Not called on January 17.  Sold all shares at $28.60 to close out position on January 17. Proceeds $2,840 after commission. Final value including sale of all calls is $3,012, up 12.0%

Buy 200 shares of COMERICA INC (CMA) at $17.13  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of CMA LX (Dec$22.50) at $0.55 (closing bid price) expiring on 12/20/2008. Cost is $3,446, and income from sale of the calls is $97 and includes your commissions.  Annualized return if called is 435%.

Comments:

Not called on December 20. Will now sell Dec22.5 at $0.60. Price at $19.01 and value at $4,006 , up 16.3% on December 20 including sale of all calls. Exercised get-out price at $14.56 (-15%) on January 15 after buying back calls at $0.05. Proceeds $2,892 after commission. Final value including sale of all calls is $3,093, down (10.2%).

Buy 200 shares of METLIFE INC (MET) at $18.48  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of MET LX (Dec$22.50) at $2.15 (closing bid price) expiring on 12/20/2008. Cost is $3,716, and income from sale of the calls is $417 and includes your commissions.  Annualized return if called is 421%.

Comments:

Called on December 20 at $22.50. Proceeds $4,480 after commission. Final value including sale of all calls is $4,897, up 31.8%.

Buy 100 shares of XTO ENERGY INC (XTO) at $30.41  (closing last trade price) and sell 1 call  Out-of-the-Money contracts of XTO LH (Dec$40.00) at $0.50 (closing bid price) expiring on 12/20/2008. Cost is $3,061, and income from sale of the calls is $39 and includes your commissions.  Annualized return if called is 417%.

Comments:

Not called on December 20. Will now sell Dec40 at $1.55. Price at $37.10 and value at $3,892 , up 27.2% on December 20 including sale of all calls. Not called on January 17.  Sold all shares at $35.29 to close out position on January 17. Proceeds $3,516 after commission. Final value including sale of all calls is $3,685, up 20.4%

Buy 400 shares of NABORS INDUSTRIES LTD (NBR) at $11.85  (closing last trade price) and sell 4 call  Out-of-the-Money contracts of NBR LC (Dec$15.00) at $0.60 (closing bid price) expiring on 12/20/2008. Cost is $4,760, and income from sale of the calls is $224 and includes your commissions.  Annualized return if called is 401%.

Comments:

Not called on December 20. Will now sell Dec15 at $0.15. Price at $11.23 and value at $7,760 , up 0.0% on December 20 including sale of all calls. Not called on January 17.  Sold all shares at $11.29 to close out position on January 17. Proceeds $4,496 after commission. Final value including sale of all calls is $4,784, up 0.5%

Buy 100 shares of ALLIANCE DATA SYSTEMS (ADS) at $38.40  (closing last trade price) and sell 1 call  Out-of-the-Money contracts of ADS LJ (Dec$50.00) at $0.50 (closing bid price) expiring on 12/20/2008. Cost is $3,860, and income from sale of the calls is $39 and includes your commissions.  Annualized return if called is 398%.

Comments:

Not called on December 20. Will now sell Dec50 at $1.50. Price at $47.28 and value at $4,905 , up 27.1% on December 20 including sale of all calls. Not called on January 17.  Sold all shares at $42.27 to close out position on January 17. Proceeds $4,207 after commission. Final value including sale of all calls is $4,404, up 14.1%

Buy 100 shares of ENSCO INTERNATIONAL INC (ESV) at $27.08  (closing last trade price) and sell 1 call  Out-of-the-Money contracts of ESV LG (Dec$35.00) at $0.55 (closing bid price) expiring on 12/20/2008. Cost is $2,728, and income from sale of the calls is $44 and includes your commissions.  Annualized return if called is 390%.

Comments:

Not called on December 20. Will now sell Dec35 at $0.35. Price at $27.61 and value at $2,828 , up 3.7% on December 20 including sale of all calls. Not called on January 17.  Sold all shares at $27.17 to close out position on January 17. Proceeds $2,697 after commission. Final value including sale of all calls is $2,784, up 2.1%

Buy 100 shares of TARGET CORP (TGT) at $28.08  (closing last trade price) and sell 1 call  Out-of-the-Money contracts of TGT LG (Dec$35.00) at $1.27 (closing bid price) expiring on 12/20/2008. Cost is $2,828, and income from sale of the calls is $116 and includes your commissions.  Annualized return if called is 363%.

Comments:

Not called on December 20. Will now sell Dec35 at $2.64. Price at $34.42 and value at $3,810 , up 34.7% on December 20 including sale of all calls. Called on January 17 at $35.00. Proceeds $3,480 after commission. Final value including sale of all calls is $3,848, up 36.1%.

Buy 200 shares of CABOT OIL & GAS CORP CLA (COG) at $24.33  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of COG LF (Dec$30.00) at $0.85 (closing bid price) expiring on 12/20/2008. Cost is $4,886, and income from sale of the calls is $157 and includes your commissions.  Annualized return if called is 339%.

Comments:

Not called on December 20. Will now sell Dec30 at $0.75. Price at $25.90 and value at $5,474 , up 12.0% on December 20 including sale of all calls. Not called on January 17.  Sold all shares at $25.05 to close out position on January 17. Proceeds $4,990 after commission. Final value including sale of all calls is $5,304, up 8.6%

Buy 200 shares of BB&T CORP (BBT) at $24.71  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of BBT LF (Dec$30.00) at $1.25 (closing bid price) expiring on 12/20/2008. Cost is $4,962, and income from sale of the calls is $237 and includes your commissions.  Annualized return if called is 335%.

Comments:

Not called on December 20. Will now sell Dec30 at $0.90. Price at $27.40 and value at $5,884 , up 18.6% on December 20 including sale of all calls. Exercised get-out price at $21.00 (-15%) on January 15 after buying back calls at $0.05. Proceeds $4,180 after commission. Final value including sale of all calls is $4,581, down (7.7%).

Buy 200 shares of US BANCORP (USB) at $22.53  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of USB LY (Dec$27.50) at $0.85 (closing bid price) expiring on 12/20/2008. Cost is $4,526, and income from sale of the calls is $157 and includes your commissions.  Annualized return if called is 326%.

Comments:

Not called on December 20. Will now sell Dec27.5 at $0.55. Price at $24.85 and value at $5,224 , up 15.4% on December 20 including sale of all calls. Exercised get-out price at $19.15 (-15%) on January 15 after buying back calls at $0.05. Proceeds $3,810 after commission. Final value including sale of all calls is $4,061, down (10.3%).

Income from sale of calls is +$5,812

All positions closed out on January 17, 2009.

Cost of these ten (20) stocks is $77,294. At January 17, 2009 (expiration weekend), this list value is $89,116, up 15.3%. The DOW was up 2.9% for the period this list was open.