Buy 400 shares of CANADIAN SOLAR INC (CSIQ) at $11.32  (closing last trade price) and sell 4 call Out-of-the-Money contracts of GQA KW (Nov$17.50) at $0.65 (closing bid price) expiring on 11/22/2008. Cost is $4,548, and income from sale of the calls is $244 and includes your commissions.  Annualized return if called is 618%.

Comments:

Exercised get-out price at $9.62 (-15%) on October 23 after buying back calls at $0.05. Final value including sale of all calls is $4,056, down (10.8%).

Buy 900 shares of A-POWER ENERGY GENERATIO (APWR) at $5.27  (closing last trade price) and sell 9 call Out-of-the-Money contracts of UQR KU (Nov$7.50) at $0.55 (closing bid price) expiring on 11/22/2008. Cost is $4,763, and income from sale of the calls is $472 and includes your commissions.  Annualized return if called is 538%.

Comments:

Exercised get-out price at $4.48 (-15%) on November 18 after buying back calls at $0.05. Final value including sale of all calls is $4,435, down (6.9%).

Buy 400 shares of CANADIAN SOLAR INC (CSIQ) at $11.32  (closing last trade price) and sell 4 call Out-of-the-Money contracts of GQA KC (Nov$15.00) at $1.10 (closing bid price) expiring on 11/22/2008. Cost is $4,548, and income from sale of the calls is $424 and includes your commissions.  Annualized return if called is 430%.

Comments:

Exercised get-out price at $9.62 (-15%) on October 23 after buying back calls at $0.05. Final value including sale of all calls is $4,236, down (6.9%).

Buy 600 shares of RENESOLA LTD ADR (SOL) at $7.39  (closing last trade price) and sell 6 call Out-of-the-Money contracts of SOL KB (Nov$10.00) at $0.50 (closing bid price) expiring on 11/22/2008. Cost is $4,454, and income from sale of the calls is $281 and includes your commissions.  Annualized return if called is 428%.

Comments:

Exercised get-out price at $6.28 (-15%) on October 22 after buying back calls at $0.05. Final value including sale of all calls is $4,000, down (10.2%).

Buy 400 shares of SANDRIDGE ENERGY INC (SD) at $11.62  (closing last trade price) and sell 4 call Out-of-the-Money contracts of SD KC (Nov$15.00) at $1.10 (closing bid price) expiring on 11/22/2008. Cost is $4,668, and income from sale of the calls is $424 and includes your commissions.  Annualized return if called is 392%.

Comments:

Exercised get-out price at $9.88 (-15%) on October 24 after buying back calls at $0.05. Final value including sale of all calls is $4,340, down (7.0%).

Buy 800 shares of JA SOLAR HOLDINGS CO ADS (JASO) at $6.00  (closing last trade price) and sell 8 call Out-of-the-Money contracts of QJP KU (Nov$7.50) at $0.65 (closing bid price) expiring on 11/22/2008. Cost is $4,820, and income from sale of the calls is $498 and includes your commissions.  Annualized return if called is 363%.

Comments:

Exercised get-out price at $5.10 (-15%) on October 23 after buying back calls at $0.05. Final value including sale of all calls is $4,516, down (6.3%).

Buy 300 shares of NABORS INDUSTRIES LTD (NBR) at $15.51  (closing last trade price) and sell 3 call Out-of-the-Money contracts of NBR KD (Nov$20.00) at $0.90 (closing bid price) expiring on 11/22/2008. Cost is $4,673, and income from sale of the calls is $256 and includes your commissions.  Annualized return if called is 353%.

Comments:

Exercised get-out price at $13.18 (-15%) on October 23 after buying back calls at $0.05. Final value including sale of all calls is $4,180, down (10.5%).

Buy 500 shares of COMMERCIAL METALS CO (CMC) at $9.88  (closing last trade price) and sell 5 call Out-of-the-Money contracts of CMC KV (Nov$12.50) at $0.70 (closing bid price) expiring on 11/22/2008. Cost is $4,960, and income from sale of the calls is $333 and includes your commissions.  Annualized return if called is 341%.

Comments:

Exercised get-out price at $8.40 (-15%) on November 19 after buying back calls at $0.05. Final value including sale of all calls is $4,490, down (9.5%).

Buy 500 shares of XL CAPITAL LTD (XL) at $9.85  (closing last trade price) and sell 5 call Out-of-the-Money contracts of XL KV (Nov$12.50) at $0.65 (closing bid price) expiring on 11/22/2008. Cost is $4,945, and income from sale of the calls is $308 and includes your commissions.  Annualized return if called is 340%.

Comments:

Exercised get-out price at $7.37 (-15%) on October 23 after buying back calls at $0.05. Final value including sale of all calls is $4,450, down (10.0%).

Buy 500 shares of TESORO CORPORATION (TSO) at $9.93  (closing last trade price) and sell 5 call Out-of-the-Money contracts of TSO KV (Nov$12.50) at $0.70 (closing bid price) expiring on 11/22/2008. Cost is $4,985, and income from sale of the calls is $333 and includes your commissions.  Annualized return if called is 334%.

Comments:

Exercised get-out price at $8.44 (-15%) on October 24 after buying back calls at $0.05. Final value including sale of all calls is $4,510, down (9.5%).

Buy 400 shares of MANITOWOC CO INC (MTW) at $11.89  (closing last trade price) and sell 4 call Out-of-the-Money contracts of MTW KC (Nov$15.00) at $0.60 (closing bid price) expiring on 11/22/2008. Cost is $4,776, and income from sale of the calls is $224 and includes your commissions.  Annualized return if called is 316%.

Comments:

Exercised get-out price at $10.11 (-15%) on October 22 after buying back calls at $0.05. Final value including sale of all calls is $4,232, down (11.4%).

Buy 400 shares of PATTERSON-UTI ENERGY INC (PTEN) at $12.26  (closing last trade price) and sell 4 call Out-of-the-Money contracts of NZQ KC (Nov$15.00) at $0.95 (closing bid price) expiring on 11/22/2008. Cost is $4,924, and income from sale of the calls is $364 and includes your commissions.  Annualized return if called is 305%.

Comments:

Exercised get-out price at $10.42 (-15%) on October 24 after buying back calls at $0.05. Final value including sale of all calls is $4,496, down (8.7%).

Buy 400 shares of SLM CORP (SLM) at $10.31  (closing last trade price) and sell 4 call Out-of-the-Money contracts of SLM KV (Nov$12.50) at $0.90 (closing bid price) expiring on 11/22/2008. Cost is $4,144, and income from sale of the calls is $344 and includes your commissions.  Annualized return if called is 302%.

Comments:

Exercised get-out price at $8.76 (-15%) on October 23 after buying back calls at $0.05. Final value including sale of all calls is $3,812, down (8.0%).

Buy 300 shares of CAMECO CORP (CCJ) at $14.45  (closing last trade price) and sell 3 call Out-of-the-Money contracts of CCJ KW (Nov$17.50) at $1.15 (closing bid price) expiring on 11/22/2008. Cost is $4,355, and income from sale of the calls is $331 and includes your commissions.  Annualized return if called is 294%.

Comments:

Exercised get-out price at $12.28 (-15%) on November 20 after buying back calls at $0.05. Final value including sale of all calls is $3,985, down (8.5%).

Buy 100 shares of AMAG PHARMACEUTICALS INC (AMAG) at $36.75  (closing last trade price) and sell 1 call Out-of-the-Money contracts of AVM KH (Nov$40.00) at $7.40 (closing bid price) expiring on 11/22/2008. Cost is $3,695, and income from sale of the calls is $729 and includes your commissions.  Annualized return if called is 292%. RISKY

Comments:

Exercised get-out price at $31.24 (-15%) on October 20 after buying back calls at $0.05. Final value including sale of all calls is $3,836, up +3.8%.

Buy 200 shares of SUPERIOR ENERGY SVCS INC (SPN) at $18.77  (closing last trade price) and sell 2 call Out-of-the-Money contracts of SPN KX (Nov$22.50) at $1.50 (closing bid price) expiring on 11/22/2008. Cost is $3,774, and income from sale of the calls is $287 and includes your commissions.  Annualized return if called is 280%.

Comments:

Exercised get-out price at $15.95 (-15%) on October 27 after buying back calls at $0.05. Final value including sale of all calls is $3,454, down (8.5%).

Buy 300 shares of PETROHAWK ENERGY CORP (HK) at $13.07  (closing last trade price) and sell 3 call Out-of-the-Money contracts of HK KC (Nov$15.00) at $1.70 (closing bid price) expiring on 11/22/2008. Cost is $3,941, and income from sale of the calls is $496 and includes your commissions.  Annualized return if called is 279%.

Comments:

Not called on November 22. Will now sell Dec15 at $1.65. Price at $13.97 and value at $5,167 , up 31.1% on November 22 including sale of all calls. Called on December 20 at $15.00. Final value including sale of all calls is $5,456, up 38.4%.

Buy 300 shares of AMYLIN PHARMACEUTICALS (AMLN) at $12.61  (closing last trade price) and sell 3 call Out-of-the-Money contracts of AQM KC (Nov$15.00) at $0.95 (closing bid price) expiring on 11/22/2008. Cost is $3,803, and income from sale of the calls is $271 and includes your commissions.  Annualized return if called is 265%.

Comments:

Exercised get-out price at $10.72 (-15%) on October 23 after buying back calls at $0.05. Final value including sale of all calls is $3,457, down (9.1%).

Buy 400 shares of CANADIAN SOLAR INC (CSIQ) at $11.32  (closing last trade price) and sell 4 call Out-of-the-Money contracts of GQA KV (Nov$12.50) at $1.80 (closing bid price) expiring on 11/22/2008. Cost is $4,548, and income from sale of the calls is $704 and includes your commissions.  Annualized return if called is 265%.

Comments:

Exercised get-out price at $9.62 (-15%) on October 23 after buying back calls at $0.05. Final value including sale of all calls is $4,516, down (0.7%).

Buy 300 shares of TRINA SOLAR LTD ADS (TSL) at $14.75  (closing last trade price) and sell 3 call Out-of-the-Money contracts of TSL KW (Nov$17.50) at $1.05 (closing bid price) expiring on 11/22/2008. Cost is $4,445, and income from sale of the calls is $301 and includes your commissions.  Annualized return if called is 259%.

Comments:

Exercised get-out price at $12.54 (-15%) on October 22 after buying back calls at $0.05. Final value including sale of all calls is $4,033, down (9.3%).

Income from sale of calls is +$7,385.

All positions closed out at December 20.

Cost of these ten (20) stocks is $89,768. At December 20, 2008 (expiration weekend), this list value is $84,492, down (5.9%). The NASDAQ is down (8.6%).