Buy 600 shares of LINCOLN NATIONAL CORP (LNC) at $7.31  (closing last trade price) and sell 6 call Out-of-the-Money contracts of LNC DB (Apr$10.00) at $0.65 (closing bid price) expiring on 4/18/2009. Cost is $4,406, and income from sale of the calls is $371 and includes your commissions.  Annualized return if called is 561%.

Comments:

Called on April 18 at $10.00.   Final value including sale of all calls is $6,351, up 44.1%.

Buy 200 shares of DIREXION SHRS ENRGY BULL (ERX) at $23.47  (closing last trade price) and sell 2 call Out-of-the-Money contracts of ERX DF (Apr$30.00) at $0.90 (closing bid price) expiring on 4/18/2009. Cost is $4,714, and income from sale of the calls is $167 and includes your commissions.  Annualized return if called is 388%.

Comments:

Not called on April 18.  Sold all shares at $26.98 to close out position on April 18. Final value including sale of all calls is $5,563, up 18.0%

Buy 500 shares of ZIONS BANCORP (ZION) at $9.92  (closing last trade price) and sell 5 call Out-of-the-Money contracts of ZNQ DV (Apr$12.50) at $0.55 (closing bid price) expiring on 4/18/2009. Cost is $4,980, and income from sale of the calls is $258 and includes your commissions.  Annualized return if called is 386%.

Comments:

Called on April 18 at $12.50. Final value including sale of all calls is $6,488, up 30.3%.

Buy 600 shares of CONTINENTAL AIRLINES (CAL) at $8.10  (closing last trade price) and sell 6 call Out-of-the-Money contracts of CAL DB (Apr$10.00) at $0.50 (closing bid price) expiring on 4/18/2009. Cost is $4,880, and income from sale of the calls is $281 and includes your commissions.  Annualized return if called is 361%.

Comments:

Called on April 18 at $10.00. Final value including sale of all calls is $6,261, up 28.3%.

Buy 400 shares of SL GREEN REALTY CORP (SLG) at $10.37  (closing last trade price) and sell 4 call Out-of-the-Money contracts of SLG DV (Apr$12.50) at $0.85 (closing bid price) expiring on 4/18/2009. Cost is $4,168, and income from sale of the calls is $324 and includes your commissions.  Annualized return if called is 349%.

Comments:

Called on April 18 at $12.50.  Final value including sale of all calls is $5,304, up 27.3%.

Buy 200 shares of AFLAC INC (AFL) at $18.38  (closing last trade price) and sell 2 call Out-of-the-Money contracts of AFL DX (Apr$22.50) at $0.95 (closing bid price) expiring on 4/18/2009. Cost is $3,696, and income from sale of the calls is $177 and includes your commissions.  Annualized return if called is 334%.

Comments:

Called on April 18 at $22.50. Final value including sale of all calls is $4,647, up 26.0%.

Buy 200 shares of METLIFE INC (MET) at $20.78  (closing last trade price) and sell 2 call Out-of-the-Money contracts of MET DE (Apr$25.00) at $1.30 (closing bid price) expiring on 4/18/2009. Cost is $4,176, and income from sale of the calls is $247 and includes your commissions.  Annualized return if called is 323%.

Comments:

Called on April 18 at $25.00. Final value including sale of all calls is $5,227, up 25.2%.

Buy 700 shares of PRINCIPAL FINANCIAL GRP (PFG) at $7.00  (closing last trade price) and sell 7 call Out-of-the-Money contracts of PFG DU (Apr$7.50) at $1.15 (closing bid price) expiring on 4/18/2009. Cost is $4,920, and income from sale of the calls is $785 and includes your commissions.  Annualized return if called is 285%.

Comments:

Called on April 18 at $7.50. Final value including sale of all calls is $6,014, up 22.2%.

Buy 400 shares of AMYLIN PHARMACEUTICALS (AMLN) at $11.35  (closing last trade price) and sell 4 call Out-of-the-Money contracts of AQM DV (Apr$12.50) at $1.20 (closing bid price) expiring on 4/18/2009. Cost is $4,560, and income from sale of the calls is $464 and includes your commissions.  Annualized return if called is 250%.

Comments:

Exercised get-out price at $9.65 (-15%) on April 6 after buying back calls at $0.05. Final value including sale of all calls is $4,288, down (6.0%).

Buy 200 shares of BANK OF NEW YORK MELLON (BK) at $23.80  (closing last trade price) and sell 2 call Out-of-the-Money contracts of BK DY (Apr$27.50) at $1.10 (closing bid price) expiring on 4/18/2009. Cost is $4,780, and income from sale of the calls is $207 and includes your commissions.  Annualized return if called is 244%.

Comments:

Buy 400 shares of UBS AG (UBS) at $10.97  (closing last trade price) and sell 4 call Out-of-the-Money contracts of UBS DV (Apr$12.50) at $0.55 (closing bid price) expiring on 4/18/2009. Cost is $4,408, and income from sale of the calls is $204 and includes your commissions.  Annualized return if called is 227%.

Comments:

Buy 200 shares of COMERICA INC (CMA) at $17.86  (closing last trade price) and sell 2 call Out-of-the-Money contracts of CMA DD (Apr$20.00) at $1.25 (closing bid price) expiring on 4/18/2009. Cost is $3,592, and income from sale of the calls is $237 and includes your commissions.  Annualized return if called is 226%.

Comments:

Called on April 18 at $20.00. Final value including sale of all calls is $4,217, up 17.4%.

Buy 300 shares of SILVER STANDARD RESOURCE (SSRI) at $15.28  (closing last trade price) and sell 3 call Out-of-the-Money contracts of IZU DW (Apr$17.50) at $0.60 (closing bid price) expiring on 4/18/2009. Cost is $4,604, and income from sale of the calls is $166 and includes your commissions.  Annualized return if called is 222%.

Comments:

Buy 300 shares of US BANCORP (USB) at $13.42  (closing last trade price) and sell 3 call Out-of-the-Money contracts of USB DC (Apr$15.00) at $0.90 (closing bid price) expiring on 4/18/2009. Cost is $4,046, and income from sale of the calls is $256 and includes your commissions.  Annualized return if called is 221%.

Comments:

Called on April 18 at $15.00. Final value including sale of all calls is $4,735, up 17.0%.

Buy 200 shares of AFLAC INC (AFL) at $18.38  (closing last trade price) and sell 2 call Out-of-the-Money contracts of AFL DD (Apr$20.00) at $1.75 (closing bid price) expiring on 4/18/2009. Cost is $3,696, and income from sale of the calls is $337 and includes your commissions.  Annualized return if called is 218%.

Comments:

Buy 400 shares of KB HOME (KBH) at $11.25  (closing last trade price) and sell 4 call Out-of-the-Money contracts of KBH DV (Apr$12.50) at $0.70 (closing bid price) expiring on 4/18/2009. Cost is $4,520, and income from sale of the calls is $264 and includes your commissions.  Annualized return if called is 207%.

Comments:

Buy 200 shares of DIREXION SHRS ENRGY BULL (ERX) at $23.47  (closing last trade price) and sell 2 call Out-of-the-Money contracts of ERX DE (Apr$25.00) at $2.30 (closing bid price) expiring on 4/18/2009. Cost is $4,714, and income from sale of the calls is $447 and includes your commissions.  Annualized return if called is 196%.

Comments:

Buy 700 shares of SUNTECH POWER HOLDINGS (STP) at $6.91  (closing last trade price) and sell 7 call Out-of-the-Money contracts of STP DU (Apr$7.50) at $0.50 (closing bid price) expiring on 4/18/2009. Cost is $4,857, and income from sale of the calls is $330 and includes your commissions.  Annualized return if called is 187%.

Comments:

Buy 300 shares of LEGG MASON INC (LM) at $13.78  (closing last trade price) and sell 3 call Out-of-the-Money contracts of LM DC (Apr$15.00) at $0.95 (closing bid price) expiring on 4/18/2009. Cost is $4,154, and income from sale of the calls is $271 and includes your commissions.  Annualized return if called is 187%.

Comments:

Buy 300 shares of MCDERMOTT INTERNAT INC (MDR) at $13.55  (closing last trade price) and sell 3 call Out-of-the-Money contracts of MDR DC (Apr$15.00) at $0.60 (closing bid price) expiring on 4/18/2009. Cost is $4,085, and income from sale of the calls is $166 and includes your commissions.  Annualized return if called is 179%.

Comments:

Income from sale of calls is +$5,921

All positions closed out on April 18.

Cost of these ten (20) stocks is $87,955 . At April 18, 2009 (expiration weekend), this list value is $104,695, up 19.0%. The NASDAQ was up 14.8% for the period this list was open.