Company Name

Stock Symbol

Stock Price

# of shares

Total Cost*

 Option Symbol

 Nov

 Option Bid Price

Income from sale*

Strike Price

Projected return if Called after one month*

Actual 

$ 

return*

Actual 

% 

Return*

CAL MAINE FOODS INC

CALM

$23.48

400

$9,412

QKMKF

$0.40

$144

30

29%

Comments:

Not called in November. Price at $24.43 on 11/17/2007. Will now sell Dec30 at $0.50. Not called in December. Price at $25.43 on 12/22/2007. Will now sell Jan30 at $0.60. Not called in January, 2008. Price at $23.97 on 1/19/2008. All shares sold at $23.97 to close out position for the year.

SEPRACOR INC.

SEPR

$23.71

400

$9,504

ERQKF

$0.30

$104

30

27%

Comments:

Not called in November. Price at $26.91 on 11/17/2007. Will now sell Dec30 at $0.45. Not called in December. Price at $27.10 on 12/22/2007. Will now sell Jan27.5 at $1.20. Note that we have lowered the strike price but it is still above the purchase price. Called in January, 2008 at $27.50.

TRIDENT MICROSYSTEMS

TRID

$14.00

700

$9,820

HVUKW

$0.25

$155

17.5

26%

Comments:

Stock tanked on October 26. Held stock for one week anticipating a bounce and then sole all shares at $7.48 to close out position.

VALUECLICK INC.

VCLK

$25.98

300

$7,814

QCSKF

$1.40

$406

30

20%

Comments:

Exercised get-out price at $22.08 (-15%) on November 8 after buying back calls at $0.05.

ZALE CORPORATION

ZLC

$21.92

400

$8,788

ZLCKE

$0.45

$164

25

16%

Comments:

Not called in November. Price at $20.54 on 11/17/2007. Will now sell Dec22.5 at $0.65. Not that we have lowered the strike price, but it is still above the purchase price. Exercised get-out price at $18.63 (-15%) on November 27 after buying back calls at $0.05.

OMCL

$26.19

300

$7,877

UMKKF

$0.40

$106

30

16%

Comments:

Not called in November. Price at $26.47 on 11/17/2007. Will now sell Dec30 at $0.25. Not called in December. Price at $26.56 on 12/22/2007. Will now sell Jan30 at $0.15. Not called in January, 2008. Price at $28.24 on 1/19/2008. All shares sold at $28.24 to close out position for the year.

CREE INC.

CREE

$26.71

300

$8,033

CQRKF

$0.70

$196

30

14%

Comments:

Not called in November. Stock price hit get out price of $22.70 during expiration week. Rather than buying back calls, we held the stock until after expiration and then sold all shares at $22.58 to close out position.

OPTIONSEXPRESS HOLDINGS

OXPS

$26.61

300

$8,003

QYBKF

$0.45

$121

30

14%

Comments:

Not called in November. Price at $29.26 on 11/17/2007. Will now sell Dec30 at $1.15. Called in December at $30.00.

OFFICE DEPOT INC

ODP

$19.96

500

$10,000

ODPKX

$0.30

$133

22.5

14%

Comments:

Exercised get-out price at $16.97 (-15%) on November 8 after buying back calls at $0.05.

AMKOR TECHNOLOGY INC

AMKR

$11.36

800

$9,108

QELKV

$0.45

$338

12.5

14%

Comments:

Exercised get-out price at $9.66 (-15%) on November 8 after buying back calls at $0.05.

Income from sale of calls is +$3,397.

All positions closed out in January 2008. Cost of these ten (10) stocks is $88,359 Return from premiums and appreciation at ($6,313). Real return is -7.2% (($6,313)/$88,359)