Investment Enhancing Systems, Inc. – Covered Call Analyzer

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	Income*	Cost*	Balance
300 shares of SLAB purchased at $29.36 in March. Sell 3 Apr30 at $1.10. Not called in April. Price at $27.34 and value $8,202 on 4/16/2005. Sell 3 May30 at $0.80. Not called in May. Price at $27.33 and value $8,199 on 5/20/2005. Sell Jun30 at 0.20. Not called in June. Price at $28.53 and value $8,559 on 6/18/2005. Will now sell Jul30 at 0.45.	$121	still own shares	$3,558
800 shares of CYD purchased in April at $11.09. Sell 8 Apr12.5 at $0.60. Not called in May. Price at $12.20 and value $9,760 on 5/20/2005. Sell Jun12.5 at 0.80. Called at $12.50 in June. Proceeds $9,980 after commission.			$13,538
500 shares of PLAY purchased in April at $18.03. Sell 5 Apr20 at $0.90. Not called in May. Price at $18.92 and value $9,460 on 5/20/2005. Sell Jun20 at 0.45. Called at $20.00 in June. Proceeds $9,980 after commission.			$23,518
300 shares of IMCL purchased in April at $31.37. Sell 3 May35 at $0.85. Not called in May. Price at $33.07 and value $9,921 on 5/20/2005. Sell Jun35 at 0.90. Not called in June. Price at $33.80 and value $10,140 on 6/18/2005. Will now sell Jul35 at 1.30.	$375	still own shares	$23,518
500 shares of MYGN purchased in April at $17.15 using Aggressive List. Sell 5 Apr22.5 at $0.95. Not called in May. Price at $17.33 and value $8,665 on 5/20/2005. Will now sell Jun17.5 at 0.75. Strike price lowered to 17.5, still above purchase price. Price at $15.50 and value $7,750 on 6/18/2005. Will now sell Jul17.5 at 0.15.	$57	still own shares	$23,518
800 shares of TASR purchased in May at $11.13. Sell 8 Jun12.5 at $0.55. Not called in June. Price at $10.65 and value $8,520 on 6/18/2005. Will now sell Jul12.5 at 0.35.	$258	still own shares	$23,518
600 shares of NFLX at $15.89. Sell 6 Jun17.5 at $0.55. Not called in June. Price at $17.22 and value $10,332 on 6/18/2005. Will now sell Jul17.5 at 0.75.	$431	still own shares	$23,518
600 shares of OVTI at $16.18. Sell 6 Jun17.5 at $0.55. Not called in June. Price at $15.64 and value $9,384 on 6/18/2005. Will now sell Jul17.5 at 0.65.	$371	still own shares	$23,518
300 shares of DWA at $32.15. Sell 3 Jun35 at $0.70. Exercised get-out price at $27.33 after buying back calls at 0.24. Proceeds $8,179 after commission.	($87)		$31,697
600 shares of OS at $16.61. Sell 6 Apr17.5 at $0.80. Called at $17.50 in June. Proceeds $10,480 after commission.			$42,177
From Conservative "Stocks-to-Consider" for June 18, 2005
Buy 800 shares of IIG at $11.20. Sell 8 Jun12.5 at $0.55.	$418	$8,980	$33,197
Buy 600 shares of ZEUS at $15.95. Sell 6 Jun17.5 at $0.45.	$251	$9,590	$23,607
Buy 300 shares of BCSI at $27.67. Sell 3 Jun30 at $0.70.	$196	$8,321	$15,286
Buy 200 shares of AAPL at $38.16. Sell 2 Jun40 at $1.35.	$257	$7,652	$7,634
Totals for May:	$2,648		$7,634
Portfolio value at June 18, 2005 is $96,862 after $2,648 taken as income.

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 in January 2005, 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 2005. Since it is a retirement portfolio, we take the premium income each month as income. We reinvest (keep in the portfolio) stock price appreciation to the strike price. Our objective is to maintain and grow the portfolio while maintaining a monthly income of over $2000. Click on the month below to view details of stocks bought and calls sold and when we held the stock or exercised our get-out price. We anticipate good months and poor months, with a general gain at year end. PATIENCE usually wins.