Covered Call Analyzer from Investment Enhancing Systems, Inc.

The Covered Call Analyzer

$10,000 Monitored Aggressive Portfolio Trades for November 2008

We suspended our get-out rule on September 15, 2008 due to volatility. They continue suspended for positions opened before October 18, 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.

Close Window

	Call Premium	Cost	Balance
Balance from October:			$410
From Aggressive "Stocks-to-Consider" for May 17, 2008 and putting $2,000 in the money available field
Buy 100 shares of MF GLOBAL LTD (MF) at $14.46 (closing last trade price) and sell 1 contracts of MF FC (Jun$15.00) at $1.10 (closing bid price) expiring on 6/21/2008. Cost is $1,456, and income from sale of the calls is $99 and includes your commissions. Annualized return if called is 102%. Stock tanked on June 19. Price at June 21 is $6.86. Decided to hold. Price at July 19 is $6.24 and value at $723, down (50.4%) . Continuing to hold. Price at August 16 is $7.34 and value at $734, down (42.8%) . Continuing to hold. Price at September 20 is $8.75 and value at $973, down (33.1%) . Continuing to hold. Price at $3.43 and value at $343 at 10/18/2008. Will now sell Nov5 at $0.25. Not called on November 22. Price at $1.91 and value at $191 at 11/22/2008. Will now sell Dec2.5 at $0.15. Note that we have lowered the strike price.	$4	still own shares	$414
From Aggressive "Stocks-to-Consider" for September 20, 2008 and putting $2,000 in the money available field
Buy 100 shares of UAL CORP (UAUA) at $13.24 (closing last trade price) and sell 1 call Out-of-the-Money contracts of UAL JC (Oct$15.00) at $2.05 (closing bid price) expiring on 10/18/2008. Cost is $1,344, and income from sale of the calls is $194 and includes your commissions. Annualized return if called is 340%. Not called on October 18. Price at $12.28 and value at $1,228 at 10/18/2008. Will now sell Nov15 at $1.65. Not called on November 22. Price at $7.67 and value at $767 at 11/22/2008. Will now sell Dec15 at $0.55.	$43	still own shares	$457
Buy 100 shares of HUNTSMAN CORP (HUN) at $10.88 (closing last trade price) and sell 1 call Out-of-the-Money contracts of HUN JV (Oct$12.50) at $1.95 (closing bid price) expiring on 10/18/2008. Cost is $1,108, and income from sale of the calls is $184 and includes your commissions. Annualized return if called is 384%. Not called on October 18. Price at $12.38 and value at $1,238 at 10/18/2008. Will now sell Nov12.5 at $3.00. Not called on November 22. Price at $6.54 and value at $654 at 11/22/2008. Will now sell Dec7.5 at $0.75. Note that we have lowered the strike price.	$63	still own shares	$520
Buy 100 shares of CONTINENTAL AIRLINES (CAL) at $18.40 (closing last trade price) and sell 1 call Out-of-the-Money contracts of CAL JD (Oct$20.00) at $1.95 (closing bid price) expiring on 10/18/2008. Cost is $1,860, and income from sale of the calls is $184 and includes your commissions. Annualized return if called is 227%. Not called on October 18. Price at $16.91 and value at $1,691 at 10/18/2008. Will now sell Nov20 at $1.25. Not called on November 22. Price at $11.30 and value at $1,130 at 11/22/2008. Will now sell Dec15 at $0.80. Note that we have lowered the strike price.	$68	still own shares	$588
Buy 200 shares of SALIX PHARMACEUTICALS (SLXP) at $6.87 (closing last trade price) and sell 2 call Out-of-the-Money contracts of PQN JU (Oct$7.50) at $0.80 (closing bid price) expiring on 10/18/2008. Cost is $1,394, and income from sale of the calls is $147 and includes your commissions. Annualized return if called is 237%. Not called on October 18. Price at $7.38 and value at $1,476at 10/18/2008. Will now sell Nov7.5 at $0.90. Called on November 22 at $7.50. Proceeds $1,490 after commission. Total return including call premium is $1,657, up 19.7%.			$2,078
Buy 200 shares of SILVER WHEATON CORP (SLW) at $9.49 (closing last trade price) and sell 2 call Out-of-the-Money contracts of SLW JB (Oct$10.00) at $0.70 (closing bid price) expiring on 10/18/2008. Cost is $1,918, and income from sale of the calls is $127 and includes your commissions. Annualized return if called is 142%. Not called on October 18. Price at $4.51 and value at $902 at 10/18/2008. Will now sell Nov5 at $0.60. Note that we have lowered the strike price. Not called on November 22. Price at $2.81 and value at $562 at 11/22/2008. Sold all shares to close out position. Proceeds $552 after commission.			$2,630
Buy 100 shares of SAVIENT PHARMACEUTICALS (SVNT) at $19.73 (closing last trade price) and sell 1 call Out-of-the-Money contracts of UVP JX (Oct$22.50) at $1.45 (closing bid price) expiring on 10/18/2008. Cost is $1,993, and income from sale of the calls is $134 and includes your commissions. Annualized return if called is 256%. Not called on October 18. Price at $12.06 and value at $1,206 at 10/18/2008. Will now sell Nov15 at $0.80. Note that we have lowered the strike price. Not called on November 22. Price at $3.28 and value at $328 at 11/22/2008. Sold all shares to close out position. Proceeds $318 after commission.			$2,948
Buy 100 shares of TESSERA TECHNOLOGIES (TSRA) at $17.85 (closing last trade price) and sell 1 call Out-of-the-Money contracts of TJQ JD (Oct$20.00) at $1.40 (closing bid price) expiring on 10/18/2008. Cost is $1,805, and income from sale of the calls is $129 and includes your commissions. Annualized return if called is 234%. Not called on October 18. Price at $14.82 and value at $1,482 at 10/18/2008. Will now sell Nov17.5 at $1.05. Note that we have lowered the strike price. Not called on November 22. Price at $16.08 and value at $1,608 at 11/22/2008. Will now sell Dec17.5 at $1.45.	$133		$3,181
From Aggressive "Stocks-to-Consider" for November 22, 2008 and putting $2,000 in the money available field
Buy 100 shares of METLIFE INC (MET) at $18.48 (closing last trade price) and sell 1 call Out-of-the-Money contracts of MET LD (Dec$20.00) at $3.00 (closing bid price) expiring on 12/20/2008. Cost is $1,868, and income from sale of the calls is $289 and includes your commissions. Annualized return if called is 294%.	$289	$1,868	$1,502
Buy 100 shares of NEXEN INC (NXY) at $13.16 (closing last trade price) and sell 1 call Out-of-the-Money contracts of NXY LC (Dec$15.00) at $1.35 (closing bid price) expiring on 12/20/2008. Cost is $1,336, and income from sale of the calls is $124 and includes your commissions. Annualized return if called is 281%.	$124	$1,336	$290
Totals for November:	$724	$3,204	$290
Portfolio value at November 22 is $7,388*, down (26.1%)

*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 2008, 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.

top