Buy 400 shares of FIRSTFED FINANCIAL CORP (FED) at $10.55  (closing last trade price) and sell 4 contracts of FED GV (Jul$12.50) at $0.70 (closing bid price) expiring on 7/19/2008. Cost is $4,240, and income from sale of the calls is $264 and includes your commissions.  Annualized return if called is 315%.

Comments:

Exercised get out price at $8.97 (-15%) on June 27 after buying back calls at $0.05. Final value including sale of all calls is $3,816, down (10.0%)

Buy 300 shares of WESTERN REFINING INC (WNR) at $12.60  (closing last trade price) and sell 3 contracts of WNR GC (Jul$15.00) at $0.75 (closing bid price) expiring on 7/19/2008. Cost is $3,800, and income from sale of the calls is $211 and includes your commissions.  Annualized return if called is 313%.

Comments:

Exercised get out price at $10.71 (-15%) on July 2 after buying back calls at $0.05. Final value including sale of all calls is $3,394, down (10.7%)

Buy 300 shares of GUSHAN ENVIRON ENGY ADR (GU) at $12.60  (closing last trade price) and sell 3 contracts of GU GC (Jul$15.00) at $0.60 (closing bid price) expiring on 7/19/2008. Cost is $3,800, and income from sale of the calls is $166 and includes your commissions.  Annualized return if called is 297%.

Comments:

Not called on July 19. Will now sell Aug15 at $0.35. Price at $12.53 and value at $4,015 , up 5.7% on July 19 including sale of all calls. Not called on August 16.  Sold all shares at $12.25 to close out position on August 16. Final value including sale of all calls is $3,841, up 1.1%.

Buy 300 shares of CHINA SECURITY & SURV (CSR) at $15.11  (closing last trade price) and sell 3 contracts of CSR GW (Jul$17.50) at $0.60 (closing bid price) expiring on 7/19/2008. Cost is $4,553, and income from sale of the calls is $166 and includes your commissions.  Annualized return if called is 247%.

Comments:

Not called on July 19. Will now sell Aug17.5 at $0.25. Price at $14.54 and value at $4,588 , up 0.8% on July 19 including sale of all calls. Not called on August 16.  Sold all shares at $16.04 to close out position on August 16. Final value including sale of all calls is $4,978, up 9.3%.

Buy 200 shares of TESSERA TECHNOLOGIES (TSRA) at $17.45  (closing last trade price) and sell 2 contracts of TJQ GD (Jul$20.00) at $0.80 (closing bid price) expiring on 7/19/2008. Cost is $3,510, and income from sale of the calls is $147 and includes your commissions.  Annualized return if called is 237%.

Comments:

Exercised get out price at $14.83 (-15%) on July 11 after buying back calls at $0.05. Final value including sale of all calls is $3,090, down (12.0%)

Buy 200 shares of SOLARFUN POWER HLDGS ADR (SOLF) at $20.24  (closing last trade price) and sell 2 contracts of QFG GX (Jul$22.50) at $1.50 (closing bid price) expiring on 7/19/2008. Cost is $4,068, and income from sale of the calls is $287 and includes your commissions.  Annualized return if called is 230%.

Comments:

Exercised get out price at $17.20 (-15%) on July 2 after buying back calls at $0.05. Final value including sale of all calls is $3,704, down (8.9%)

Buy 400 shares of REGIONS FINANCIAL CORP (RF) at $11.22  (closing last trade price) and sell 4 contracts of RF GV (Jul$12.50) at $0.75 (closing bid price) expiring on 7/19/2008. Cost is $4,508, and income from sale of the calls is $284 and includes your commissions.  Annualized return if called is 224%.

Comments:

Exercised get out price at $9.54 (-15%) on July 11 after buying back calls at $0.05. Final value including sale of all calls is $4,064, down (9.8%)

Buy 200 shares of CHINA FINANCE ONLINE ADS (JRJC) at $18.25  (closing last trade price) and sell 2 contracts of JQJ GD (Jul$20.00) at $1.05 (closing bid price) expiring on 7/19/2008. Cost is $3,670, and income from sale of the calls is $197 and includes your commissions.  Annualized return if called is 187%.

Comments:

Not called on July 19. Will now sell Aug20 at $0.85. Price at $17.79 and value at $3,912 , up 6.6% on July 19 including sale of all calls. Not called on August 16.  Sold all shares at $15.66 to close out position on August 16. Final value including sale of all calls is $3,329, down (9.3%).

Buy 200 shares of BB&T CORP (BBT) at $24.70  (closing last trade price) and sell 2 contracts of BBT GY (Jul$27.50) at $0.90 (closing bid price) expiring on 7/19/2008. Cost is $4,960, and income from sale of the calls is $167 and includes your commissions.  Annualized return if called is 186%.

Comments:

Exercised get out price at $21.00 (-15%) on July 14 after buying back calls at $0.05. Final value including sale of all calls is $4,344, down (12.4%)

Buy 300 shares of GENERAL MOTORS CORP (GM) at $13.79  (closing last trade price) and sell 3 contracts of GM GC (Jul$15.00) at $0.87 (closing bid price) expiring on 7/19/2008. Cost is $4,157, and income from sale of the calls is $247 and includes your commissions.  Annualized return if called is 185%.

Comments:

Exercised get out price at $11.72 (-15%) on June 27 after buying back calls at $0.05. Final value including sale of all calls is $3,733, down

(10.2%)

Buy 300 shares of CONTINENTAL AIRLINES B (CAL) at $14.23  (closing last trade price) and sell 3 contracts of CAL GC (Jul$15.00) at $1.35 (closing bid price) expiring on 7/19/2008. Cost is $4,289, and income from sale of the calls is $391 and includes your commissions.  Annualized return if called is 183%.

Comments:

Exercised get out price at $12.10 (-15%) on June 23 after buying back calls at $0.05. Final value including sale of all calls is $3,991, down (6.9%)

Buy 200 shares of WELLS FARGO & CO (WFC) at $24.50  (closing last trade price) and sell 2 contracts of WFC GY (Jul$27.50) at $0.60 (closing bid price) expiring on 7/19/2008. Cost is $4,920, and income from sale of the calls is $107 and includes your commissions.  Annualized return if called is 182%.

Comments:

Called on July 19 at $27.50. Final value including sale of all calls is $5,587, up 13.6%.

Buy 100 shares of FOCUS MEDIA HOLDING LTD (FMCN) at $27.05  (closing last trade price) and sell 1 contracts of QOH GF (Jul$30.00) at $1.15 (closing bid price) expiring on 7/19/2008. Cost is $2,725, and income from sale of the calls is $104 and includes your commissions.  Annualized return if called is 181%.

Comments:

Not called on July 19. Will now sell Aug30 at $1.00. Price at $25.92 and value at $2,784 , up 2.2% on July 19 including sale of all calls. Not called on August 16.  Sold all shares at $26.25 to close out position on August 16. Final value including sale of all calls is $2,729, up 0.1%.

Buy 200 shares of TESORO CORPORATION (TSO) at $20.35  (closing last trade price) and sell 2 contracts of TSO GX (Jul$22.50) at $0.80 (closing bid price) expiring on 7/19/2008. Cost is $4,090, and income from sale of the calls is $147 and includes your commissions.  Annualized return if called is 178%.

Comments:

Exercised get out price at $17.30 (-15%) on June 30 after buying back calls at $0.05. Final value including sale of all calls is $3,584, down

(12.4%)

Buy 400 shares of EVERGREEN SOLAR INC (ESLR) at $11.66  (closing last trade price) and sell 4 contracts of QLU GV (Jul$12.50) at $0.80 (closing bid price) expiring on 7/19/2008. Cost is $4,684, and income from sale of the calls is $304 and includes your commissions.  Annualized return if called is 173%.

Comments:

Exercised get out price at $9.91 (-15%) on June 23 after buying back calls at $0.05. Final value including sale of all calls is $4,232, down (9.6%)

Buy 100 shares of CAPITAL ONE FINANCIAL CP (COF) at $40.90  (closing last trade price) and sell 1 contracts of COF GI (Jul$45.00) at $1.60 (closing bid price) expiring on 7/19/2008. Cost is $4,110, and income from sale of the calls is $149 and includes your commissions.  Annualized return if called is 171%.

Comments:

Not called on July 19. Will now sell Aug45 at $2.50. Price at $42.87 and value at $4,674 , up 13.7% on July 19 including sale of all calls. Not called on August 16.  Sold all shares at $43.95 to close out position on August 16. Final value including sale of all calls is $4,544, up 10.6%.

Buy 100 shares of INTEROIL CORP (IOC) at $33.33  (closing last trade price) and sell 1 contracts of IOC GG (Jul$35.00) at $2.90 (closing bid price) expiring on 7/19/2008. Cost is $3,353, and income from sale of the calls is $279 and includes your commissions.  Annualized return if called is 166%.

Comments:

Exercised get out price at $28.33 (-15%) on June 23 after buying back calls at $0.05. Final value including sale of all calls is $3,095, down (7.7%)

Buy 300 shares of VERIFONE HOLDINGS INC (PAY) at $13.80  (closing last trade price) and sell 3 contracts of PAY GC (Jul$15.00) at $0.60 (closing bid price) expiring on 7/19/2008. Cost is $4,160, and income from sale of the calls is $166 and includes your commissions.  Annualized return if called is 159%.

Comments:

Exercised get out price at $11.73 (-15%) on July 10 after buying back calls at $0.05. Final value including sale of all calls is $3,655, down (12.1%)

Buy 100 shares of PENN NATIONAL GAMING INC (PENN) at $37.04  (closing last trade price) and sell 1 contracts of UQN GH (Jul$40.00) at $1.90 (closing bid price) expiring on 7/19/2008. Cost is $3,724, and income from sale of the calls is $179 and includes your commissions.  Annualized return if called is 159%.

Comments:

Exercised get out price at $31.48 (-15%) on July 2 after buying back calls at $0.05. Final value including sale of all calls is $3,310, down (11.1%)

Buy 200 shares of KB HOME (KBH) at $18.21  (closing last trade price) and sell 2 contracts of KBH GD (Jul$20.00) at $0.60 (closing bid price) expiring on 7/19/2008. Cost is $3,662, and income from sale of the calls is $107 and includes your commissions.  Annualized return if called is 158%.

Comments:

Exercised get out price at $15.48 (-15%) on July 11 after buying back calls at $0.05. Final value including sale of all calls is $3,203, down (12.5%)

Income from sale of calls is +$3,715.

All positions closed out at August 16.

Cost of these ten (20) stocks is $80,982. At August 16, 2008 (expiration weekend), this list value is $76,223, down (5.9%).