Covered Call Analyzer from Investment Enhancing Systems, Inc.

The Covered Call Analyzer

$10,000 Monitored Aggressive Portfolio Trades for December 17, 2011

This is a rolling portfolio and we will look at open positions and make new trades using monies from called and sold positions each month on expiration weekend. The statements starting "Buy...." is what the Covered Call Analyzer tells you to do after finding the best buy/writes and calculating the values.

Call Premium Cost Balance

From November: $549

From Aggressive "Stocks-to-Consider" for February 19, 2011 and putting $2,000 in the money available field

Buy 100 shares of CHINA MEDIAEXPRESS HOLDIN (CCME) at $14.42  (closing last trade price) and sell 1 call Out-of-the-Money contracts of CCME1119C17.5 (Mar$17.50) at $0.80 (closing bid price) expiring on 3/19/2011. Cost is $1,452, and income from sale of the calls is $69 and includes your commissions. Actual return if called at expiration is 25.3%. Not called on March 19. Price at $11.88 and value at $1,256 %, including sale of all calls, down (13.5%). Stock was halted on March 11. Will hold all shares until trading resumes and then decide what to do. Stock will probably tank upon opening. Stock remained halted through April 16. Will continue to maintain in portfolio at halted price of $11.88 at April 16. In anticipation of the stock dropping in price when trading resummed, we "walked" the price down from the halted price of $11.88 to $3.88 in $2.00 increments each week starting April 26. The stock resumed trading as CCME.PK on May 19. As expected, the stock tanked and closed that day at $2.11. We will continue to hold to see if there is a rebound after the "shorts" have made their money. The stock closed on Friday at $1.71 and we will reflect this price is the portfolio return. We will continue to hold to see if there is a rebound after the "shorts" have made their money. The stock closed on June 17at $1.82 and we will reflect this price is the portfolio return. The stock closed on July 16 at $1.60 and we will reflect this price is the portfolio return. The stock closed on August 20 at $0.49 and we will reflect this price is the portfolio return. The stock closed on September 17 at $0.27 and we will reflect this price is the portfolio return. The stock closed on October 22 at $0.17 and we will reflect this price is the portfolio return. The stock closed on November 19 at $0.12 and we will reflect this price is the portfolio return. The stock closed on December 17 at $0.09 and we will reflect this price is the portfolio return.
$549

From Aggressive "Stocks-to-Consider" for August 20, 2011 and putting $2,000 in the money available field

Buy 200 shares of HARVEST NATURAL RESOURCES (HNR) at $9.12 (closing last trade price) and sell 2 call Out-of-the-Money contracts of HNR1117I12.5 (Sep$12.50) at $0.30 (closing bid price) expiring on 9/17/2011. Cost is $1,834, and income from sale of the calls is $47 and includes your commissions. Actual return if called at expiration is 38.9%. Not called on September 17. Will now sell Oc15 at $0.35. Note that we have raised the strike price. Price at $12.50 and value at $2,594, including sale of all calls, up +41.5%. Not called on October 22. Will now sell Nov12.5 at $0.55. Note that we have lowered the strike price. Price at $11.29 and value at $2,459, including sale of all calls, up +34.1%. Not called on November 19. Will now sell Dec10 at $0.30. Note that we have lowered the strike price. Price at $8.74 and value at $1,996, including sale of all calls, up +8.8%. Exercised get-out price at $7.75 (-15%) on December 8 after buying back calls at $0.05. Proceeds $1,540 after commission. Final value including sale of all calls is $1,775, down (3.2%).

$2,089

From Aggressive "Stocks-to-Consider" for November 19, 2011 and putting $2,000 in the money available field

Buy 100 shares of IVANHOE MINES (IVN) at $19.14  (closing last trade price) and sell 1 call Out-of-the-Money contracts of IVN1117L22 (Dec$22.00) at $0.95 (closing bid price) expiring on 12/17/2011. Cost is$1,924, and income from sale of the calls is $84 and includes your commissions. Actual return if called at expiration is 18.7%. Not called on December 17. Price at $16.79. Sold all shares at $16.79 to close out position because there were no favorable call premiums. Proceeds $1,669 after commission. Final value including sale of all calls is $1,763, down (8.4%). $3,758

Buy 300 shares of CHINACAST EDUCATION (CAST) at $5.11  (closing last trade price) and sell 3 call Out-of-the-Money contracts of CAST1117L7.5 (Dec$7.50) at $0.25 (closing bid price) expiring on12/17/2011. Cost is $1,543, and income from sale of the calls is $61 and includes your commissions. Actual return if called at expiration is 49.8%. Not called on December 17. Price at $5.40. Sold all shares at $5.40 to close out position because there were no favorable call premiums. Proceeds $1,610 after commission. Final value including sale of all calls is $1,680, up +8.9% $5,368

Buy 100 shares of AMEDISYS (AMED) at $11.88  (closing last trade price) and sell 1 call Out-of-the-Money contracts of AMED1117L15 (Dec$15.00) at $0.25 (closing bid price) expiring on 12/17/2011. Cost is$1,198, and income from sale of the calls is $14 and includes your commissions. Actual return if called at expiration is 26.4%. Not called on December 17. Price at $10.39. Sold all shares at $10.39 to close out position because there were no favorable call premiums. Proceeds $1,029 after commission. Final value including sale of all calls is $1,053, down (12.1%). $6,397

Buy 100 shares of RESEARCH IN MOTION (RIMM) at $18.19  (closing last trade price) and sell 1 call Out-of-the-Money contracts of RIMM1117L22.5 (Dec$22.50) at $0.55 (closing bid price) expiring on12/17/2011. Cost is $1,829, and income from sale of the calls is $44 and includes your commissions. Actual return if called at expiration is 25.4%. Exercised get-out price at $15.46 (-15%) on December 13 after buying back calls at $0.05. Proceeds $1,536 after commission. Final value including sale of all calls is $1,573, down (14.0%). $7,933

From Aggressive "Stocks-to-Consider" for December 17, 2011 and putting $2,000 in the money available field

Buy 200 shares of ONCOTHYREON (ONTY) at $7.67  (closing last trade price) and sell 2 call Out-of-the-Money contracts of ONTY1221A10 (Jan$10.00) at $0.65 (closing bid price) expiring on 1/21/2012. Cost is$1,544, and income from sale of the calls is $117 and includes your commissions. Actual return if called at expiration is 37.1%. $117 $1,544 $6,506

Buy 200 shares of TARGACEPT (TRGT) at $7.79  (closing last trade price) and sell 2 call Out-of-the-Money contracts of TRGT1221A10 (Jan$10.00) at $0.80 (closing bid price) expiring on 1/21/2012. Cost is$1,568, and income from sale of the calls is $147 and includes your commissions. Actual return if called at expiration is 36.9%. $147 $1,568 $5,085

Buy 200 shares of RADVISION (RVSN) at $8.24  (closing last trade price) and sell 2 call Out-of-the-Money contracts of RVSN1221A10 (Jan$10.00) at $0.60 (closing bid price) expiring on 1/21/2012. Cost is$1,658, and income from sale of the calls is $107 and includes your commissions. Actual return if called at expiration is 27.1%. $107 $1,658 $3,534

Buy 100 shares of MCMORAN EXPLORATION (MMR) at $13.82  (closing last trade price) and sell 1 call Out-of-the-Money contracts of MMR1221A15 (Jan$15.00) at $1.12 (closing bid price) expiring on1/21/2012. Cost is $1,392, and income from sale of the calls is $101 and includes your commissions. Actual return if called at expiration is 15.0%. $101 $1,392 $2,243

Buy 100 shares of COBALT INTERNATIONAL (CIE) at $11.00  (closing last trade price) and sell 1 call Out-of-the-Money contracts of CIE1221A12.5 (Jan$12.50) at $0.90 (closing bid price) expiring on1/21/2012. Cost is $1,110, and income from sale of the calls is $79 and includes your commissions. Actual return if called at expiration is 19.7%. $79 $1,110 $1,212

Buy 100 shares of VIVUS (VVUS) at $10.09  (closing last trade price) and sell 1 call Out-of-the-Money contracts of VVUS1221A11 (Jan$11.00) at $0.79 (closing bid price) expiring on 1/21/2012. Cost is $1,019, and income from sale of the calls is $68 and includes your commissions. Actual return if called at expiration is 14.6%. $68 $1,019 $261

Totals for December:
$619 $8,291 $261

Portfolio value at opening on December 17, 2011 is $8,492*, down (15.1%). The S&P500 average for the year so far is down (5.0%)

*After the effect of all commissions.

On January 22, 2011 (expiration weekend), Investment Enhancing Systems, Inc. initiated a new $10,000 aggressive portfolio for 2011, 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 and sold more calls 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.

	Call Premium	Cost	Balance
From November:			$549
From Aggressive "Stocks-to-Consider" for February 19, 2011 and putting $2,000 in the money available field
Buy 100 shares of CHINA MEDIAEXPRESS HOLDIN (CCME) at $14.42 (closing last trade price) and sell 1 call Out-of-the-Money contracts of CCME1119C17.5 (Mar$17.50) at $0.80 (closing bid price) expiring on 3/19/2011. Cost is $1,452, and income from sale of the calls is $69 and includes your commissions. Actual return if called at expiration is 25.3%. Not called on March 19. Price at $11.88 and value at $1,256 %, including sale of all calls, down (13.5%). Stock was halted on March 11. Will hold all shares until trading resumes and then decide what to do. Stock will probably tank upon opening. Stock remained halted through April 16. Will continue to maintain in portfolio at halted price of $11.88 at April 16. In anticipation of the stock dropping in price when trading resummed, we "walked" the price down from the halted price of $11.88 to $3.88 in $2.00 increments each week starting April 26. The stock resumed trading as CCME.PK on May 19. As expected, the stock tanked and closed that day at $2.11. We will continue to hold to see if there is a rebound after the "shorts" have made their money. The stock closed on Friday at $1.71 and we will reflect this price is the portfolio return. We will continue to hold to see if there is a rebound after the "shorts" have made their money. The stock closed on June 17at $1.82 and we will reflect this price is the portfolio return. The stock closed on July 16 at $1.60 and we will reflect this price is the portfolio return. The stock closed on August 20 at $0.49 and we will reflect this price is the portfolio return. The stock closed on September 17 at $0.27 and we will reflect this price is the portfolio return. The stock closed on October 22 at $0.17 and we will reflect this price is the portfolio return. The stock closed on November 19 at $0.12 and we will reflect this price is the portfolio return. The stock closed on December 17 at $0.09 and we will reflect this price is the portfolio return.			$549
From Aggressive "Stocks-to-Consider" for August 20, 2011 and putting $2,000 in the money available field
Buy 200 shares of HARVEST NATURAL RESOURCES (HNR) at $9.12 (closing last trade price) and sell 2 call Out-of-the-Money contracts of HNR1117I12.5 (Sep$12.50) at $0.30 (closing bid price) expiring on 9/17/2011. Cost is $1,834, and income from sale of the calls is $47 and includes your commissions. Actual return if called at expiration is 38.9%. Not called on September 17. Will now sell Oc15 at $0.35. Note that we have raised the strike price. Price at $12.50 and value at $2,594, including sale of all calls, up +41.5%. Not called on October 22. Will now sell Nov12.5 at $0.55. Note that we have lowered the strike price. Price at $11.29 and value at $2,459, including sale of all calls, up +34.1%. Not called on November 19. Will now sell Dec10 at $0.30. Note that we have lowered the strike price. Price at $8.74 and value at $1,996, including sale of all calls, up +8.8%. Exercised get-out price at $7.75 (-15%) on December 8 after buying back calls at $0.05. Proceeds $1,540 after commission. Final value including sale of all calls is $1,775, down (3.2%).			$2,089
From Aggressive "Stocks-to-Consider" for November 19, 2011 and putting $2,000 in the money available field
Buy 100 shares of IVANHOE MINES (IVN) at $19.14 (closing last trade price) and sell 1 call Out-of-the-Money contracts of IVN1117L22 (Dec$22.00) at $0.95 (closing bid price) expiring on 12/17/2011. Cost is$1,924, and income from sale of the calls is $84 and includes your commissions. Actual return if called at expiration is 18.7%. Not called on December 17. Price at $16.79. Sold all shares at $16.79 to close out position because there were no favorable call premiums. Proceeds $1,669 after commission. Final value including sale of all calls is $1,763, down (8.4%).			$3,758
Buy 300 shares of CHINACAST EDUCATION (CAST) at $5.11 (closing last trade price) and sell 3 call Out-of-the-Money contracts of CAST1117L7.5 (Dec$7.50) at $0.25 (closing bid price) expiring on12/17/2011. Cost is $1,543, and income from sale of the calls is $61 and includes your commissions. Actual return if called at expiration is 49.8%. Not called on December 17. Price at $5.40. Sold all shares at $5.40 to close out position because there were no favorable call premiums. Proceeds $1,610 after commission. Final value including sale of all calls is $1,680, up +8.9%			$5,368
Buy 100 shares of AMEDISYS (AMED) at $11.88 (closing last trade price) and sell 1 call Out-of-the-Money contracts of AMED1117L15 (Dec$15.00) at $0.25 (closing bid price) expiring on 12/17/2011. Cost is$1,198, and income from sale of the calls is $14 and includes your commissions. Actual return if called at expiration is 26.4%. Not called on December 17. Price at $10.39. Sold all shares at $10.39 to close out position because there were no favorable call premiums. Proceeds $1,029 after commission. Final value including sale of all calls is $1,053, down (12.1%).			$6,397
Buy 100 shares of RESEARCH IN MOTION (RIMM) at $18.19 (closing last trade price) and sell 1 call Out-of-the-Money contracts of RIMM1117L22.5 (Dec$22.50) at $0.55 (closing bid price) expiring on12/17/2011. Cost is $1,829, and income from sale of the calls is $44 and includes your commissions. Actual return if called at expiration is 25.4%. Exercised get-out price at $15.46 (-15%) on December 13 after buying back calls at $0.05. Proceeds $1,536 after commission. Final value including sale of all calls is $1,573, down (14.0%).			$7,933
From Aggressive "Stocks-to-Consider" for December 17, 2011 and putting $2,000 in the money available field
Buy 200 shares of ONCOTHYREON (ONTY) at $7.67 (closing last trade price) and sell 2 call Out-of-the-Money contracts of ONTY1221A10 (Jan$10.00) at $0.65 (closing bid price) expiring on 1/21/2012. Cost is$1,544, and income from sale of the calls is $117 and includes your commissions. Actual return if called at expiration is 37.1%.	$117	$1,544	$6,506
Buy 200 shares of TARGACEPT (TRGT) at $7.79 (closing last trade price) and sell 2 call Out-of-the-Money contracts of TRGT1221A10 (Jan$10.00) at $0.80 (closing bid price) expiring on 1/21/2012. Cost is$1,568, and income from sale of the calls is $147 and includes your commissions. Actual return if called at expiration is 36.9%.	$147	$1,568	$5,085
Buy 200 shares of RADVISION (RVSN) at $8.24 (closing last trade price) and sell 2 call Out-of-the-Money contracts of RVSN1221A10 (Jan$10.00) at $0.60 (closing bid price) expiring on 1/21/2012. Cost is$1,658, and income from sale of the calls is $107 and includes your commissions. Actual return if called at expiration is 27.1%.	$107	$1,658	$3,534
Buy 100 shares of MCMORAN EXPLORATION (MMR) at $13.82 (closing last trade price) and sell 1 call Out-of-the-Money contracts of MMR1221A15 (Jan$15.00) at $1.12 (closing bid price) expiring on1/21/2012. Cost is $1,392, and income from sale of the calls is $101 and includes your commissions. Actual return if called at expiration is 15.0%.	$101	$1,392	$2,243
Buy 100 shares of COBALT INTERNATIONAL (CIE) at $11.00 (closing last trade price) and sell 1 call Out-of-the-Money contracts of CIE1221A12.5 (Jan$12.50) at $0.90 (closing bid price) expiring on1/21/2012. Cost is $1,110, and income from sale of the calls is $79 and includes your commissions. Actual return if called at expiration is 19.7%.	$79	$1,110	$1,212
Buy 100 shares of VIVUS (VVUS) at $10.09 (closing last trade price) and sell 1 call Out-of-the-Money contracts of VVUS1221A11 (Jan$11.00) at $0.79 (closing bid price) expiring on 1/21/2012. Cost is $1,019, and income from sale of the calls is $68 and includes your commissions. Actual return if called at expiration is 14.6%.	$68	$1,019	$261
Totals for December:	$619	$8,291	$261
Portfolio value at opening on December 17, 2011 is $8,492*, down (15.1%). The S&P500 average for the year so far is down (5.0%)