Company Name

Stock Symbol

Stock Price

# of shares

Total Cost*

 Option Symbol

 Apr

 Option 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%

Comments:

Exercised get-out price on March 27after buying back calls at $0.05

CAPITALSOURCE INC

CSE

$10.23

900

$9,227

CSEDV

$0.75

$652

12.5

28.8%

Comments:

Called on April 19, 2008 at $12.50.

CLEARWIRE CORP A

CLWR

$10.41

900

$9,389

QCWDV

$0.90

$787

12.5

28.0%

Comments:

Called on April 19, 2008 at $17.50.

TESSERA TECHNOLOGIES

TSRA

$14.62

600

$8,792

TJQDW

$1.25

$731

17.5

27.5%

Comments:

Called on April 19, 2008 at $17.50.

RAMBUS INC

RMBS

$17.37

500

$8,855

BNQDD

$1.75

$858

20

22.4%

Comments:

Called on April 19, 2008 at $20.00.

MTG

$13.06

700

$9,162

MTGDC

$1.05

$715

15

22.2%

Comments:

Exercised get-out price on March 26 after buying back calls at $0.05

ALIGN TECHNOLOGY INC

ALGN

$1.39

800

$9,132

CUADV

$1.10

$858

12.5

18.7%

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 March 26 after buying back calls at $0.05

SLM CORP

SLM

$15.78

600

$9,488

SLMDW

$1.15

$671

17.5

17.5%

Comments:

Not called on April 19, 2008 (expiration weekend), price at $17.20, and value including call premium is $11,692, up 23.2%. Will now sell May17.5 at $1.20 expiring on May 17, 2008. Called on May 17, 2008 at $17.50.

MEDICINES COMPANY THE

MDCO

$18.20

500

$9,120

MQLDD

$1.30

$633

20

16.4%

Comments:

Not called on April 19, 2008 (expiration weekend), price at $18.02, and value including call premium is $9,825, up +7.7%. Will now sell May20 at $0.40 expiring on May 17, 2008. Not called on May 17, 2008 (expiration weekend), price at $19.02. Sold all shares at $19.02 on May 16 to close out position.

XM SATELLITE RADIO HLDGS

XMSR

$11.94

800

$9,572

QSYDV

$1.30

$1,018

12.5

14.9%

Comments:

Not called on April 19, 2008 (expiration weekend), price at $10.75, and value including call premium is $9,876, up +3.2%. Will now sell May12 at $0.35 expiring on May 17, 2008. Note strike price is in $1.00 increments. Called on May 17, 2008 at $12.50.

Income from sale of calls is +$8,666.

All positions closed out on May 17.

Cost of these ten (10) stocks is $91,793. At May 17, 2008 (expiration weekend), this list value is $104,295,  up 13.6%.