Covered Call Analyzer from Investment Enhancing Systems, Inc.

The Covered Call Analyzer

$100,0000 Retirement Portfolio Trades for January 17, 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 review open positions and make new trades using monies from called positions each month on expiration weekend.

NOTE: We will be taking out call premium up to $2,000 per month. Any call premium balance is put back into the Retirement portfolio and used to purchase more stock. This should produce $24,000 of income in 2009 from this $100,000 portfolio.

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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	Income*	Cost*	Balance
Beginning Cash:			$100,000
From Conservative "Stocks-to-Consider" for January 17, 2009 and putting $10,000 into the money available field.
Buy 500 shares of LINCOLN NATIONAL CORP (LNC) at $18.21 (closing last trade price) and sell 5 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 $9,125, and income from sale of the calls is $983 and includes your commissions. Annualized return if called is 212%. ACTUAL: Bought 500 shares of LINCOLN NATIONAL CORP (LNC) at $16.37 (closing last trade price) and sell 5 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 $8,205, and income from sale of the calls is $733 and includes your commissions.	$733	$8,205	$91,795
Buy 1500 shares of DEVELOPERS DIVERSIFIED (DDR) at $6.28 (closing last trade price) and sell 15 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 $9,440, and income from sale of the calls is $868 and includes your commissions. Annualized return if called is 296%. ACTUAL: Bought 1500 shares of DEVELOPERS DIVERSIFIED (DDR) at $5.63 (closing last trade price) and sell 15 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 $8,465, and income from sale of the calls is $643 and includes your commissions.	$643	$8,465	$83,330
Buy 1300 shares of BARCLAYS PLC ADR (BCS) at $7.25 (closing last trade price) and sell 13 call Out-of-the-Money contracts of BCS BB (Feb$10.00) at $0.55 (closing bid price) expiring on 2/21/2009. Cost is $9,445, and income from sale of the calls is $686 and includes your commissions. Annualized return if called is 468%. ACTUAL: Bought 1300 shares of BARCLAYS PLC ADR (BCS) at $4.30 (closing last trade price) and sell 13 call Out-of-the-Money contracts of BCS BU (Feb$7.50) at $0.40 (closing bid price) expiring on 2/21/2009. Cost is $5,610, and income from sale of the calls is $490 and includes your commissions.	$490	$5,610	$77,720
Buy 600 shares of PRINCIPAL FINANCIAL GRP (PFG) at $16.19 (closing last trade price) and sell 6 call Out-of-the-Money contracts of PFG BD (Feb$20.00) at $1.10 (closing bid price) expiring on 2/21/2009. Cost is $9,734, and income from sale of the calls is $641 and includes your commissions. Annualized return if called is 311%. ACTUAL: Bought 600 shares of PRINCIPAL FINANCIAL GRP (PFG) at $14.74 (closing last trade price) and sell 6 call Out-of-the-Money contracts of PFG BD (Feb$20.00) at $0.80 (closing bid price) expiring on 2/21/2009. Cost is $8,864, and income from sale of the calls is $461 and includes your commissions.	$461	$8,864	$68,856
Buy 500 shares of LINCOLN NATIONAL CORP (LNC) at $18.21 (closing last trade price) and sell 5 call Out-of-the-Money contracts of LNC BX (Feb$22.50) at $1.10 (closing bid price) expiring on 2/21/2009. Cost is $9,125, and income from sale of the calls is $533 and includes your commissions. Annualized return if called is 304%. ACTUAL: Bought 500 shares of LINCOLN NATIONAL CORP (LNC) at $16.37 (closing last trade price) and sell 5 call Out-of-the-Money contracts of LNC BX (Feb$22.50) at $0.80 (closing bid price) expiring on 2/21/2009. Cost is $8,205, and income from sale of the calls is $408 and includes your commissions.	$408	$8,205	$60,651
Buy 700 shares of TRINITY INDUSTRIES INC (TRN) at $13.46 (closing last trade price) and sell 7 call Out-of-the-Money contracts of TRN BC (Feb$15.00) at $0.70 (closing bid price) expiring on 2/21/2009. Cost is $9,442, and income from sale of the calls is $470 and includes your commissions. Annualized return if called is 169%. ACTUAL: Bought 700 shares of TRINITY INDUSTRIES INC (TRN) at $12.89 (closing last trade price) and sell 7 call Out-of-the-Money contracts of TRN BC (Feb$15.00) at $0.55 (closing bid price) expiring on 2/21/2009. Cost is $9,043, and income from sale of the calls is $365 and includes your commissions.	$365	$9,043	$51,608
Buy 600 shares of ZIONS BANCORP (ZION) at $16.49 (closing last trade price) and sell 6 call Out-of-the-Money contracts of ZNQ BX (Feb$22.50) at $0.80 (closing bid price) expiring on 2/21/2009. Cost is $9,914, and income from sale of the calls is $461 and includes your commissions. Annualized return if called is 426%. ACTUAL: Bought 600 shares of ZIONS BANCORP (ZION) at $15.01 (closing last trade price) and sell 6 call Out-of-the-Money contracts of ZNQ BX (Feb$22.50) at $0.65 (closing bid price) expiring on 2/21/2009. Cost is $9,026, and income from sale of the calls is $371 and includes your commissions.	$371	$9,026	$42,582
Buy 300 shares of EQUITY RESIDENTIAL (EQR) at $27.27 (closing last trade price) and sell 3 call Out-of-the-Money contracts of EQR BF (Feb$30.00) at $1.70 (closing bid price) expiring on 2/21/2009. Cost is $8,201, and income from sale of the calls is $496 and includes your commissions. Annualized return if called is 165%. ACTUAL: Bought 300 shares of EQUITY RESIDENTIAL (EQR) at $26.19 (closing last trade price) and sell 3 call Out-of-the-Money contracts of EQR BF (Feb$30.00) at $1.45 (closing bid price) expiring on 2/21/2009. Cost is $7,877, and income from sale of the calls is $421 and includes your commissions. $90,875	$421	$7,877	$34,705
Buy 200 shares of STATE STREET CORP (STT) at $36.35 (closing last trade price) and sell 2 call Out-of-the-Money contracts of STT BH (Feb$40.00) at $2.30 (closing bid price) expiring on 2/21/2009. Cost is $7,290, and income from sale of the calls is $447 and includes your commissions. Annualized return if called is 166%. ACTUAL: Bought 200 shares of STATE STREET CORP (STT) at $19.20 (closing last trade price) and sell 2 call Out-of-the-Money contracts of STT BX (Feb$22.50) at $0.85 (closing bid price) expiring on 2/21/2009. Cost is $3,860, and income from sale of the calls is $157 and includes your commissions.	$157	$3,860	$30,845
Buy 500 shares of MARRIOTT INTERNAT INC A (MAR) at $17.84 (closing last trade price) and sell 5 call Out-of-the-Money contracts of MAR BD (Feb$20.00) at $0.80 (closing bid price) expiring on 2/21/2009. Cost is $8,940, and income from sale of the calls is $383 and includes your commissions. Annualized return if called is 168%.ACTUAL: Bought 500 shares of MARRIOTT INTERNAT INC A (MAR) at $16.81 (closing last trade price) and sell 5 call Out-of-the-Money contracts of MAR BD (Feb$20.00) at $0.70 (closing bid price) expiring on 2/21/2009. Cost is $8,425, and income from sale of the calls is $333 and includes your commissions.	$333	$8,425	$22,420
Buy 300 shares of SOCIEDAD QUIMICA CHILE (SQM) at $26.76 (closing last trade price) and sell 3 call Out-of-the-Money contracts of SQM BF (Feb$30.00) at $1.20 (closing bid price) expiring on 2/21/2009. Cost is $8,048, and income from sale of the calls is $346 and includes your commissions. Annualized return if called is 168%. ACTUAL: Bought 300 shares of SOCIEDAD QUIMICA CHILE (SQM) at $26.61 (closing last trade price) and sell 3 call Out-of-the-Money contracts of SQM BF (Feb$30.00) at $1.10 (closing bid price) expiring on 2/21/2009. Cost is $8,003, and income from sale of the calls is $316 and includes your commissions.	$316	$8,003	$17,417
Totals for January:	$4,4698	$85,583	$14,417
Taking $2,000 out as income total leaves $2,696 that will be added to cash balance.			$17,115
Portfolio value at January 17, 2009 is $102,918* after $2,000 taken as income in one month. Total return including income is *$104,918,** up +4.9%.

*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.

Starting on January 17, 2009, Investment Enhancing Systems, Inc. provided this retirement portfolio using the stocks identified in our Conservative "Stocks-to-Consider" list. We started by investing $100,000 in stock buy/writes identified by the Covered Call Analyzer on expiration weekend for January 17, 2009.Since it is a retirement portfolio, we take $2,000 premium income each month as income. We reinvest (keep in the portfolio) stock price appreciation to the strike price and the balance of call premium. Our objective is to maintain and grow the portfolio while maintaining a monthly income of $2,000. We will update this portfolio each month on expiration weekend, using the Analyzer, to find more buy/writes using the monies realized from called or "get-out" sales.

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