Covered Call Analyzer from Investment Enhancing Systems, Inc.

The Covered Call Analyzer

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

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

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	Call Premium	Cost	Balance
From February:			$381
From Aggressive "Stocks-to-Consider" for January 17, 2009 and putting $2,000 in the money available field
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. Called on March21 at $7.50. Proceeds $2,240 after commission. Final value including sale of all calls is $2,511, up 32.4%.			$2,621
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. Called on March21 at $10.00. Proceeds $1,990 after commission. Final value including sale of all calls is $2,284, up 38.3%.			$4,611
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. Exercised get-out price at $5.23 on March 9 after buying back calls at $0.05. Proceeds $1,559 after commission and call buy back. Final value including sale of all calls is $1,781, down (4.0%).	($29)		$6,141
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%. Called on March21 at $10.00. Proceeds $1,990 after commission. Final value including sale of all calls is $2,157, up 15.5%.			$8,131
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%. Exercised get-out price at $8.01 (-15%) on March 5 after buying back calls at $0.05. Proceeds $1,592 after commission. Final value including sale of all calls is $1,746, down (7.8%).	($23)		$9,700
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%. Exercised get-out price at $10.14 (-15%) on March 5 after buying back calls at $0.05. Proceeds $1,014 after commission. Final value including sale of all calls is $1,121, down (6.8%).	($17)		$10,697
From Aggressive "Stocks-to-Consider" for March 21, 2009 and putting $2,000 in the money available field
Buy 200 shares of LINCOLN NATIONAL CORP (LNC) at $7.31 (closing last trade price) and sell 2 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 $1,472, and income from sale of the calls is $117 and includes your commissions. Annualized return if called is 552%.	$117	$1,472	$9,342
Buy 200 shares of PRINCIPAL FINANCIAL GRP (PFG) at $7.00 (closing last trade price) and sell 2 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 $1,410, and income from sale of the calls is $217 and includes your commissions. Annualized return if called is 274%.	$217	$1,410	$8,149
Buy 100 shares of AMYLIN PHARMACEUTICALS (AMLN) at $11.35 (closing last trade price) and sell 1 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 $1,145, and income from sale of the calls is $109 and includes your commissions. Annualized return if called is 235%.	$109	$1,145	$7,113
Buy 100 shares of COMERICA INC (CMA) at $17.86 (closing last trade price) and sell 1 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 $1,796, and income from sale of the calls is $114 and includes your commissions. Annualized return if called is 223%.	$114	$1,796	$5,431
Buy 100 shares of AFLAC INC (AFL) at $18.38 (closing last trade price) and sell 1 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 $1,848, and income from sale of the calls is $164 and includes your commissions. Annualized return if called is 215%.	$164	$1,848	$3,747
Buy 100 shares of ALLSTATE CORP THE (ALL) at $18.59 (closing last trade price) and sell 1 call Out-of-the-Money contracts of ALL DD (Apr$20.00) at $1.25 (closing bid price) expiring on 4/18/2009. Cost is $1,869, and income from sale of the calls is $114 and includes your commissions. Annualized return if called is 165%.	$114	$1,869	$1,992
Buy 200 shares of SUNTECH POWER HOLDINGS (STP) at $6.91 (closing last trade price) and sell 2 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 $1,392, and income from sale of the calls is $87 and includes your commissions. Annualized return if called is 176%.	$87	$1,392	$687
Totals for March:	$853	$9,540	$1,232
Portfolio value at March 21 is $12,094*, up +20.9%. The NASDAQ average for the year so far is down (4.7%)

*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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