Investment Enhancing Systems, Inc. – Covered Call Analyzer

$10,000 Monitored Aggressive Portfolio Trades for March 2008

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.

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	Call Premium	Cost	Balance
Balance from February:			$1,091
From Aggressive "Stocks-to-Consider" for January 19, 2008 and putting $2,000 in the money available field
100 shares of PGNX purchased in January at $16.68 and sell 1 contracts of GUB BW (Feb$17.50 ) at $2.30 expiring on 2/16/2008. Not called on February 16, 2008 (expiration weekend), price at $16.14, and value including call premium is $1,971, up +17.5%. Will now sell Mar17.5 at $1.50 expiring on March 22, 2008. Exercised get-out price at $14.18 (-15%) on March 6 after buying back calls at $0.05. Proceeds $1,408 after commission.	($17)		$2,582
100 shares of RVBD purchased in January at $19.10 and sell 1 contracts of UEX BX (Feb$22.50 ) at $1.10 expiring on 2/16/2008. Not called on February 16, 2008 (expiration weekend), price at $22.39, and value including call premium is $2,481, up +29.2%. Will now sell Mar22.5 at $1.55 expiring on March 22, 2008. Exercised get-out price at $16.24 (-15%) on March 13 after buying back calls at $0.05. Proceeds $1,614 after commission.	($17)		$4,079
100 shares of DAL purchased in January at $14.85 and sell 1 contracts of DAL BW (Feb$17.50 ) at $0.65 expiring on 2/16/2008. Not called on February 16, 2008 expiration weekend), price at $17.32, and value including call premium is $1,924, up +28.7%. Will now sell Mar17.5 at $1.50 expiring on March 22, 2008. Exercised get-out price at $12.62 (-15%) on March 10 after buying back calls at $0.05. Proceeds $1,252 after commission.	($17)		$5,314
From Aggressive "Stocks-to-Consider" for February 16, 2008 and putting $2,000 in the money available field
100 shares of SOLF at $17.02 and sell 1 contracts of QFG CD (Mar$20.00 ) at $1.15 expiring on 3/22/2008. Exercised get-out price at $14.47 (-15%) on February 21 after buying back calls at $0.05. Proceeds $1,437 after commission.	($17)		$6,573462
100 shares of LEN at $18.59 and sell 1 contracts of LEN CD (Mar$20.00 ) at $1.05 expiring on 3/22/2008. Exercised get-out price at $15.80 (-15%) on March 7 after buying back calls at $0.05. Proceeds $1,570 after commission.	($17)		$9,192
100 shares of RMBS at $18.28 and sell 1 contracts of BNQ CD (Mar$20.00 ) at $0.95 expiring on 3/22/2008. Not called in March. Price at $17.67 and value at $2,014 at 3/17/2007. Will now sell Apr20 at $1.75.	$164	still own shares	$8,731
From Aggressive "Stocks-to-Consider" for March 22, 2008 and putting $2,000 in the money available field
Buy 100 shares of TSRA at $14.62 (closing last trade price) and sell 1 contracts of TJQ DW (Apr$17.50 ) at $1.25 (closing bid price) expiring on 4/19/2008.	$114	$1,482	$7,363
Buy 100 shares of SLM at $15.78 (closing last trade price) and sell 1 contracts of SLM DW (Apr$17.50 ) at $1.15 (closing bid price) expiring on 4/19/2008.	$104	$1,598	$5,869
Buy 100 shares of MDCO at $18.20 (closing last trade price) and sell 1 contracts of MQL DD (Apr$20.00 ) at $1.30 (closing bid price) expiring on 4/19/2008	$119	$1,840	$4,148
Buy 100 shares of XMSR at $11.94 (closing last trade price) and sell 1 contracts of QSY DV (Apr$12.50 ) at $1.30 (closing bid price) expiring on 4/19/2008.	$119	$1,214	$3,053
Buy 100 shares of IDCC at $19.46 (closing last trade price) and sell 1 contracts of DAQ DD (Apr$20.00 ) at $1.20 (closing bid price) expiring on 4/19/2008.	$109	$1,966	$1,169
Totals for March:	$644		$1,169
Portfolio value at March 22, 2008 is $11,156*, up 11.6%.

*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 19, 2008 (expiration weekend), Investment Enhancing Systems, Inc. initiated a new $10,000 aggressive portfolio for 2007, 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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