Covered Call Analyzer from Investment Enhancing Systems, Inc.

The Covered Call Analyzer

$10,000 Monitored Aggressive Portfolio Trades for February 21, 2009

NOTE: Because the markets tanked on Tuesday, January 20 (Inauguration Day), the first day of trading after publishing this list, we held off placing trades until about midday. We show our actual trades after the suggested trades listed below and have modified the trade values accordingly.

see below

This is a rolling portfolio and we will look at open positions and make new trades using monies from called positions each month on expiration weekend.

This is the start of a new year

The statements starting "Buy...." is what the Covered Call Analyzer tells you to do after finding the best buy/writes and calculating the values.

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	Call Premium	Cost	Balance
From January:			$763
From Aggressive "Stocks-to-Consider" for January 17, 2009 and putting $2,000 in the money available field
Buy 100 shares of LINCOLN NATIONAL CORP (LNC) at $18.21 (closing last trade price) and sell 1 call Out-of-the-Money contracts of LNC BD (Feb$20.00) at $2.00 (closing bid price) expiring on 2/21/2009. Cost is $1,831, and income from sale of the calls is $189 and includes your commissions. Annualized return if called is 197%. ACTUAL: Bought 100 shares of LINCOLN NATIONAL CORP (LNC) at $16.37 (closing last trade price) and sell 1 call Out-of-the-Money contracts of LNC BD (Feb$20.00) at $1.50 (closing bid price) expiring on 2/21/2009. Cost is $1,647, and income from sale of the calls is $139 and includes your commissions. Exercised get-out price at $13.91 (-15%) on February 20 after buying back calls at $0.05. Proceeds $1,381 after commission. Final value including sale of all calls is $1,513, down (8.1%).	($17)		$2,127
Buy 300 shares of DEVELOPERS DIVERSIFIED (DDR) at $6.28 (closing last trade price) and sell 3 call Out-of-the-Money contracts of DDR BU (Feb$7.50) at $0.60 (closing bid price) expiring on 2/21/2009. Cost is $1,894, and income from sale of the calls is $166 and includes your commissions. Annualized return if called is 280%. ACTUAL: Bought 300 shares of DEVELOPERS DIVERSIFIED (DDR) at $5.63 (closing last trade price) and sell 3 call Out-of-the-Money contracts of DDR BU (Feb$7.50) at $0.45 (closing bid price) expiring on 2/21/2009. Cost is $1,699, and income from sale of the calls is $121 and includes your commissions. Exercised get-out price at $4.79 on January 26 after buying back calls at $0.05. Proceeds $1,427 after commission. Final value including sale of all calls is $1,528, down (10.1%).	($30)		$3,524
Buy 300 shares of KEYCORP (KEY) at $6.31 (closing last trade price) and sell 3 call Out-of-the-Money contracts of KEY BU (Feb$7.50) at $0.55 (closing bid price) expiring on 2/21/2009. Cost is $1,903, and income from sale of the calls is $151 and includes your commissions. Annualized return if called is 266%. ACTUAL: Bought 300 shares of KEYCORP (KEY) at $6.29 (closing last trade price) and sell 3 call Out-of-the-Money contracts of KEY BU (Feb$7.50) at $0.55 (closing bid price) expiring on 2/21/2009. Cost is $1,897, and income from sale of the calls is $151 and includes your commissions. Not called on February 21. Will now sell Mar7.5 at $0.45. Price at $6.07 and value at $1,513 , down (8.1%) on February 21 including sale of all calls.	$121	still own shares	$3,645
Buy 200 shares of EXCO RESOURCES INC (XCO) at $8.84 (closing last trade price) and sell 2 call Out-of-the-Money contracts of XCO BB (Feb$10.00) at $0.80 (closing bid price) expiring on 2/21/2009. Cost is $1,778, and income from sale of the calls is $147 and includes your commissions. Annualized return if called is 209%. ACTUAL: Bought 200 shares of EXCO RESOURCES INC (XCO) at $8.21 (closing last trade price) and sell 2 call Out-of-the-Money contracts of XCO BB (Feb$10.00) at $0.70 (closing bid price) expiring on 2/21/2009. Cost is $1,652, and income from sale of the calls is $127 and includes your commissions. Not called on February 21. Will now sell Mar10 at $0.90. Price at $9.42 and value at $2,011 , up 21.7% on February 21 including sale of all calls.	$167	still own shares	$3,812
Buy 300 shares of SANDRIDGE ENERGY INC (SD) at $6.57 (closing last trade price) and sell 3 call Out-of-the-Money contracts of SD BU (Feb$7.50) at $0.50 (closing bid price) expiring on 2/21/2009. Cost is $1,981, and income from sale of the calls is $136 and includes your commissions. Annualized return if called is 207%. ACTUAL: Bought 300 shares of SANDRIDGE ENERGY INC (SD) at $6.15 (closing last trade price) and sell 3 call Out-of-the-Money contracts of SD BU (Feb$7.50) at $0.55 (closing bid price) expiring on 2/21/2009. Cost is $1,854, and income from sale of the calls is $150 and includes your commissions. Not called on February 21. Will now sell Mar7.5 at $0.35. Price at $6.44 and value at $2,083 , up 12.3% on February 21 including sale of all calls.	$91	still own shares	$3,903
Buy 100 shares of UAL CORP (UAUA) at $11.95 (closing last trade price) and sell 1 call Out-of-the-Money contracts of UAL BV (Feb$12.50) at $1.45 (closing bid price) expiring on 2/21/2009. Cost is $1,205, and income from sale of the calls is $134 and includes your commissions. Annualized return if called is 145%. ACTUAL: Bought 100 shares of UAL CORP (UAUA) at $12.24 (closing last trade price) and sell 1 call Out-of-the-Money contracts of UAL BC (Feb$15.00) at $0.70 (closing bid price) expiring on 2/21/2009. Cost is $1,234, and income from sale of the calls is $58 and includes your commissions. Exercised get-out price at $10.40 on January 30 after buying back calls at $0.05. Proceeds $1,030 after commission. Final value including sale of all calls is $1,082, down (12.3%).	($17)		$4,916
From Aggressive "Stocks-to-Consider" for February, 2009 and putting $2,000 in the money available field
Buy 200 shares of KB HOME (KBH) at $9.29 (closing last trade price) and sell 2 call Out-of-the-Money contracts of KBH CB (Mar$10.00) at $0.90 (closing bid price) expiring on 3/21/2009. Cost is $1,878, and income from sale of the calls is $167 and includes your commissions. Annualized return if called is 201%.	$167	$1,878	$3,207
Buy 200 shares of EXCO RESOURCES INC (XCO) at $9.42 (closing last trade price) and sell 2 call Out-of-the-Money contracts of XCO CB (Mar$10.00) at $0.90 (closing bid price) expiring on 3/21/2009. Cost is $1,904, and income from sale of the calls is $167 and includes your commissions. Annualized return if called is 180%.	$167	$1,904	$1,470
Buy 100 shares of MEDICIS PHARMA CORP CL A (MRX) at $11.93 (closing last trade price) and sell 1 call Out-of-the-Money contracts of MRX CV (Mar$12.50) at $1.35 (closing bid price) expiring on 3/21/2009. Cost is $1,213, and income from sale of the calls is $124 and includes your commissions. Annualized return if called is 173%.	$124	$1,213	$380
Totals for February:	$773	$4,995	$381
Portfolio value at February 21 is $10,572*, up +5.7%. The NASDAQ for the year so far is down (5.8%)

*After the effect of all commissions.

The stocks listed above are for illustrative and educational purposes only and should not be construed as an endorsement, recommendation, or solicitation to buy or sell any particular security.

On January 17, 2009 (expiration weekend), Investment Enhancing Systems, Inc. initiated a new $10,000 aggressive portfolio for 2009, This portfolio uses stocks identified in our Aggressive "Stocks-to-Consider" list by selecting buy/writes from the "Stocks with high or negative PE ratios" list. We have set the money available to $2,000 and have reduced the commissions for purchasing the stock to $9.95 and selling the calls to $9.95 plus $1.50 per contract in our parameters page. Several low cost, on-line brokers offer these low commissions. Since it is an aggressive portfolio, we keep the premium income and stock price appreciation to the strike price in the portfolio. We update the portfolio each month on expiration weekend. Our objective is to maintain and grow the portfolio. The table above lists details of stocks bought and calls sold, and when we held the stock or exercised our get-out price. Note: In all of our lists and portfolios, we have established a get-out price which we exercise when the stock price drops 15%. If this happens during the month, we will get-out and report the sale of the stock and the buy-back of the calls at the next expiration weekend postings. We anticipate good months and poor months, with a general gain at year end. Patience usually wins. Because this portfolio is limited in diversity, it will be much more difficult to realize the types of gains in our larger portfolios.

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