Covered Call Analyzer from Investment Enhancing Systems, Inc.

The Covered Call Analyzer

$100,0000 Retirement Portfolio Trades for May 21, 2011

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

From April:

$5,444

From Conservative "Stocks-to-Consider" for February 19, 2011 and putting $10,000 into the money available field.

Buy 300 shares of GARMIN (GRMN) at $33.02  (closing last trade price) and sell 3 call  Out-of-the-Money contracts of GRMN1119C35 (Mar$35.00) at $0.74 (closing bid price) expiring on 3/19/2011. Cost is$9,927, and income from sale of the calls is $208 and includes your commissions.   Actual return if called at expiration is 7.9%. Not called on March 19. Will now sell Apr35 at $0.65. Price at $33.82 and value at $10,534, including sale of all calls, up +6.1. Not called on April 16. Will now sell May35 at $0.83. Price at $33.90 and value at $10,793, including sale of all calls, up +8.7. Not called on May 21. Will now sell Jun35 at $0.66. Price at $34.98 and value at $11,300, including sale of all calls, up +13.8. $184 $5,444

From Conservative "Stocks-to-Consider" for March 19, 2011 and putting $10,000 into the money available field.

Buy 500 shares of JABIL CIRCUIT (JBL) at $18.59  (closing last trade price) and sell 5 call  Out-of-the-Money contracts of JBL1116D20 (Apr$20.00) at $0.55 (closing bid price) expiring on 4/16/2011. Cost is$9,315, and income from sale of the calls is $258 and includes your commissions.   Actual return if called at expiration is 10.1%. Not called on April 16. Will now sell May20 at $0.50. Price at $19.18 and value at $10,080, including sale of all calls, up +8.2. Called on May 21 at $20.00. Proceeds $9,980 after commission. Total return including call premium is $10,470, up +12.4%. $15,424

Buy 500 shares of FED AGRICULTURAL MTGE K (AGM) at $18.78  (closing last trade price) and sell 5 call  Out-of-the-Money contracts of AGM1116D20 (Apr$20.00) at $0.70 (closing bid price) expiring on4/16/2011. Cost is $9,410, and income from sale of the calls is $333 and includes your commissions.   Actual return if called at expiration is 9.8% .Not called on April 16. Will now sell May20 at $0.50. Price at $18.01 and value at $9,570, including sale of all calls, up +1.7. Not called on May 21. Price at $17.85. Sold all shares at $17.85 to close out position because there were no favorable call premiums. Proceeds $8,905 after commission. Final value including sale of all calls is $9,490, up +0.9%. $24,329

Buy 700 shares of CHICO'S FAS (CHS) at $13.90  (closing last trade price) and sell 7 call  Out-of-the-Money contracts of CHS1116D15 (Apr$15.00) at $0.25 (closing bid price) expiring on 4/16/2011. Cost is$9,750, and income from sale of the calls is $155 and includes your commissions.   Actual return if called at expiration is 9.3%..Not called on April 16. Will now sell May15 at $0.65. Price at $14.85 and value at $10,984, including sale of all calls, up +12.7. Not called on May 21. Will now sell Jun14 at $0.50. Note that we have lowered the strike price but it is still above the purchase price. Price at $14.10 and value at $10,699, including sale of all calls, up +9.7. $329 $24,329

From Conservative "Stocks-to-Consider" for April 16, 2011 and putting $10,000 into the money available field.

Buy 1000 shares of AEGEAN MARINE PETROLEUM (ANW) at $9.16  (closing last trade price) and sell 10 call  Out-of-the-Money contracts of ANW1121E10 (May$10.00) at $0.60 (closing bid price) expiring on5/21/2011. Cost is $9,180, and income from sale of the calls is $575 and includes your commissions.   Actual return if called at expiration is 15.2%. Not called on May 21. Will now sell Jun10 at $0.20. Price at $8.85 and value at $9,600, including sale of all calls, up +4.6%. $175 $24,329

Buy 200 shares of SOTHEBYS A (BID) at $49.71  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of BID1121E55 (May$55.00) at $0.85 (closing bid price) expiring on 5/21/2011. Cost is$9,962, and income from sale of the calls is $157 and includes your commissions.   Actual return if called at expiration is 12.0%. Exercised get-out price at $42.25 (-15%) on May 13 after buying back calls at $0.05. Proceeds $8,460 after commission. Final value including sale of all calls is $8,584, down (13.8%). $32,789

Buy 100 shares of NATIONAL OILWELL VARCO (NOV) at $76.50  (closing last trade price) and sell 1 call  Out-of-the-Money contracts of NOV1121E85 (May$85.00) at $0.89 (closing bid price) expiring on5/21/2011. Cost is $7,670, and income from sale of the calls is $78 and includes your commissions.   Actual return if called at expiration is 11.8%. Not called on May 21. Price at $67.76. Sold all shares at $67.76 to close out position because there were no favorable call premiums. Proceeds $6,756 after commission. Final value including sale of all calls is $6,854, down (10.6%). $39,545

Buy 500 shares of ASSURED GUARANTY (AGO) at $17.60  (closing last trade price) and sell 5 call  Out-of-the-Money contracts of AGO1121E19 (May$19.00) at $0.69 (closing bid price) expiring on 5/21/2011. Cost is $8,820, and income from sale of the calls is $328 and includes your commissions.   Actual return if called at expiration is 11.4%. Not called on May 21. Price at $16.61. Sold all shares at $16.61 to close out position because there were no favorable call premiums. Proceeds $8,285 after commission. Final value including sale of all calls is $8,633, down (2.1%). $47,830

Buy 300 shares of CHESAPEAKE ENERGY (CHK) at $32.73  (closing last trade price) and sell 3 call  Out-of-the-Money contracts of CHK1121E36 (May$36.00) at $0.35 (closing bid price) expiring on 5/21/2011. Cost is $9,839, and income from sale of the calls is $91 and includes your commissions.   Actual return if called at expiration is 10.7%. Not called on May 21. Will now sell Jun33 at $0.35.Note that we have lowered the strike price but it is still above the purchase price. Price at $30.62 and value at $9,367, including sale of all calls, down (4.8%). $91 $47,830

Buy 400 shares of RPC (RES) at $23.26  (closing last trade price) and sell 4 call  Out-of-the-Money contracts of RES1121E25 (May$25.00) at $0.65 (closing bid price) expiring on 5/21/2011. Cost is $9,324, and income from sale of the calls is $244 and includes your commissions.   Actual return if called at expiration is 9.9%. Not called on May 21. Will now sell Jun25 at $0.65. Price at $23.49 and value at $9,884, including sale of all calls, up +5.8%. $244 $47,830

From Conservative "Stocks-to-Consider" for May 21, 2011 and putting $10,000 into the money available field.

Buy 200 shares of FREEPORT-MCMORAN (FCX) at $48.38  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of FCX1118F52 (Jun$52.00) at $0.72 (closing bid price) expiring on 6/18/2011. Cost is $9,696, and income from sale of the calls is $131 and includes your commissions.   Actual return if called at expiration is 8.6%. $131 $9,696 $38,134

Buy 400 shares of RPC (RES) at $23.49  (closing last trade price) and sell 4 call  Out-of-the-Money contracts of RES1118F25 (Jun$25.00) at $0.65 (closing bid price) expiring on 6/18/2011. Cost is $9,416, and income from sale of the calls is $244 and includes your commissions.   Actual return if called at expiration is 8.8%. $244 $9,416 $28,718

Buy 200 shares of INTERDIGITAL (IDCC) at $42.67  (closing last trade price) and sell 2 call  Out-of-the-Money contracts of IDCC1118F46 (Jun$46.00) at $0.85 (closing bid price) expiring on 6/18/2011. Cost is$8,554, and income from sale of the calls is $157 and includes your commissions.   Actual return if called at expiration is 9.4%. $157 $8,554 $20,164

Buy 800 shares of PIER 1 IMPORTS (PIR) at $11.41  (closing last trade price) and sell 8 call  Out-of-the-Money contracts of PIR1118F12 (Jun$12.00) at $0.35 (closing bid price) expiring on 6/18/2011. Cost is$9,148, and income from sale of the calls is $258 and includes your commissions.   Actual return if called at expiration is 7.8%. $258 $9,148 $12,016

Buy 400 shares of TESORO (TSO) at $23.65  (closing last trade price) and sell 4 call  Out-of-the-Money contracts of TSO1118F25 (Jun$25.00) at $0.55 (closing bid price) expiring on 6/18/2011. Cost is $9,480, and income from sale of the calls is $204 and includes your commissions.   Actual return if called at expiration is 7.6%. $204 $9,480 1,536

Totals for May:
$2,017 $46,294 $1,536

Taking $2,000 out as income total leaves $17 that will be added to the cash balance:
$1,553

Portfolio value at June expiration (June 18) is $93,911* after $10,000 taken as income in five months. Total return including income is $103,911*, up 3.9% The S&P500 average for the year so far is down (4.6%).

*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.

Starting on January 22, 2011, 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 22, 2011. 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. Because this is a conservative portfolio, we have established the get-out price at -15% below the purchase price.

	Income*	Cost*	Balance
From April:			$5,444
From Conservative "Stocks-to-Consider" for February 19, 2011 and putting $10,000 into the money available field.
Buy 300 shares of GARMIN (GRMN) at $33.02 (closing last trade price) and sell 3 call Out-of-the-Money contracts of GRMN1119C35 (Mar$35.00) at $0.74 (closing bid price) expiring on 3/19/2011. Cost is$9,927, and income from sale of the calls is $208 and includes your commissions. Actual return if called at expiration is 7.9%. Not called on March 19. Will now sell Apr35 at $0.65. Price at $33.82 and value at $10,534, including sale of all calls, up +6.1. Not called on April 16. Will now sell May35 at $0.83. Price at $33.90 and value at $10,793, including sale of all calls, up +8.7. Not called on May 21. Will now sell Jun35 at $0.66. Price at $34.98 and value at $11,300, including sale of all calls, up +13.8.	$184		$5,444
From Conservative "Stocks-to-Consider" for March 19, 2011 and putting $10,000 into the money available field.
Buy 500 shares of JABIL CIRCUIT (JBL) at $18.59 (closing last trade price) and sell 5 call Out-of-the-Money contracts of JBL1116D20 (Apr$20.00) at $0.55 (closing bid price) expiring on 4/16/2011. Cost is$9,315, and income from sale of the calls is $258 and includes your commissions. Actual return if called at expiration is 10.1%. Not called on April 16. Will now sell May20 at $0.50. Price at $19.18 and value at $10,080, including sale of all calls, up +8.2. Called on May 21 at $20.00. Proceeds $9,980 after commission. Total return including call premium is $10,470, up +12.4%.			$15,424
Buy 500 shares of FED AGRICULTURAL MTGE K (AGM) at $18.78 (closing last trade price) and sell 5 call Out-of-the-Money contracts of AGM1116D20 (Apr$20.00) at $0.70 (closing bid price) expiring on4/16/2011. Cost is $9,410, and income from sale of the calls is $333 and includes your commissions. Actual return if called at expiration is 9.8% .Not called on April 16. Will now sell May20 at $0.50. Price at $18.01 and value at $9,570, including sale of all calls, up +1.7. Not called on May 21. Price at $17.85. Sold all shares at $17.85 to close out position because there were no favorable call premiums. Proceeds $8,905 after commission. Final value including sale of all calls is $9,490, up +0.9%.			$24,329
Buy 700 shares of CHICO'S FAS (CHS) at $13.90 (closing last trade price) and sell 7 call Out-of-the-Money contracts of CHS1116D15 (Apr$15.00) at $0.25 (closing bid price) expiring on 4/16/2011. Cost is$9,750, and income from sale of the calls is $155 and includes your commissions. Actual return if called at expiration is 9.3%..Not called on April 16. Will now sell May15 at $0.65. Price at $14.85 and value at $10,984, including sale of all calls, up +12.7. Not called on May 21. Will now sell Jun14 at $0.50. Note that we have lowered the strike price but it is still above the purchase price. Price at $14.10 and value at $10,699, including sale of all calls, up +9.7.	$329		$24,329
From Conservative "Stocks-to-Consider" for April 16, 2011 and putting $10,000 into the money available field.
Buy 1000 shares of AEGEAN MARINE PETROLEUM (ANW) at $9.16 (closing last trade price) and sell 10 call Out-of-the-Money contracts of ANW1121E10 (May$10.00) at $0.60 (closing bid price) expiring on5/21/2011. Cost is $9,180, and income from sale of the calls is $575 and includes your commissions. Actual return if called at expiration is 15.2%. Not called on May 21. Will now sell Jun10 at $0.20. Price at $8.85 and value at $9,600, including sale of all calls, up +4.6%.	$175		$24,329
Buy 200 shares of SOTHEBYS A (BID) at $49.71 (closing last trade price) and sell 2 call Out-of-the-Money contracts of BID1121E55 (May$55.00) at $0.85 (closing bid price) expiring on 5/21/2011. Cost is$9,962, and income from sale of the calls is $157 and includes your commissions. Actual return if called at expiration is 12.0%. Exercised get-out price at $42.25 (-15%) on May 13 after buying back calls at $0.05. Proceeds $8,460 after commission. Final value including sale of all calls is $8,584, down (13.8%).			$32,789
Buy 100 shares of NATIONAL OILWELL VARCO (NOV) at $76.50 (closing last trade price) and sell 1 call Out-of-the-Money contracts of NOV1121E85 (May$85.00) at $0.89 (closing bid price) expiring on5/21/2011. Cost is $7,670, and income from sale of the calls is $78 and includes your commissions. Actual return if called at expiration is 11.8%. Not called on May 21. Price at $67.76. Sold all shares at $67.76 to close out position because there were no favorable call premiums. Proceeds $6,756 after commission. Final value including sale of all calls is $6,854, down (10.6%).			$39,545
Buy 500 shares of ASSURED GUARANTY (AGO) at $17.60 (closing last trade price) and sell 5 call Out-of-the-Money contracts of AGO1121E19 (May$19.00) at $0.69 (closing bid price) expiring on 5/21/2011. Cost is $8,820, and income from sale of the calls is $328 and includes your commissions. Actual return if called at expiration is 11.4%. Not called on May 21. Price at $16.61. Sold all shares at $16.61 to close out position because there were no favorable call premiums. Proceeds $8,285 after commission. Final value including sale of all calls is $8,633, down (2.1%).			$47,830
Buy 300 shares of CHESAPEAKE ENERGY (CHK) at $32.73 (closing last trade price) and sell 3 call Out-of-the-Money contracts of CHK1121E36 (May$36.00) at $0.35 (closing bid price) expiring on 5/21/2011. Cost is $9,839, and income from sale of the calls is $91 and includes your commissions. Actual return if called at expiration is 10.7%. Not called on May 21. Will now sell Jun33 at $0.35.Note that we have lowered the strike price but it is still above the purchase price. Price at $30.62 and value at $9,367, including sale of all calls, down (4.8%).	$91		$47,830
Buy 400 shares of RPC (RES) at $23.26 (closing last trade price) and sell 4 call Out-of-the-Money contracts of RES1121E25 (May$25.00) at $0.65 (closing bid price) expiring on 5/21/2011. Cost is $9,324, and income from sale of the calls is $244 and includes your commissions. Actual return if called at expiration is 9.9%. Not called on May 21. Will now sell Jun25 at $0.65. Price at $23.49 and value at $9,884, including sale of all calls, up +5.8%.	$244		$47,830
From Conservative "Stocks-to-Consider" for May 21, 2011 and putting $10,000 into the money available field.
Buy 200 shares of FREEPORT-MCMORAN (FCX) at $48.38 (closing last trade price) and sell 2 call Out-of-the-Money contracts of FCX1118F52 (Jun$52.00) at $0.72 (closing bid price) expiring on 6/18/2011. Cost is $9,696, and income from sale of the calls is $131 and includes your commissions. Actual return if called at expiration is 8.6%.	$131	$9,696	$38,134
Buy 400 shares of RPC (RES) at $23.49 (closing last trade price) and sell 4 call Out-of-the-Money contracts of RES1118F25 (Jun$25.00) at $0.65 (closing bid price) expiring on 6/18/2011. Cost is $9,416, and income from sale of the calls is $244 and includes your commissions. Actual return if called at expiration is 8.8%.	$244	$9,416	$28,718
Buy 200 shares of INTERDIGITAL (IDCC) at $42.67 (closing last trade price) and sell 2 call Out-of-the-Money contracts of IDCC1118F46 (Jun$46.00) at $0.85 (closing bid price) expiring on 6/18/2011. Cost is$8,554, and income from sale of the calls is $157 and includes your commissions. Actual return if called at expiration is 9.4%.	$157	$8,554	$20,164
Buy 800 shares of PIER 1 IMPORTS (PIR) at $11.41 (closing last trade price) and sell 8 call Out-of-the-Money contracts of PIR1118F12 (Jun$12.00) at $0.35 (closing bid price) expiring on 6/18/2011. Cost is$9,148, and income from sale of the calls is $258 and includes your commissions. Actual return if called at expiration is 7.8%.	$258	$9,148	$12,016
Buy 400 shares of TESORO (TSO) at $23.65 (closing last trade price) and sell 4 call Out-of-the-Money contracts of TSO1118F25 (Jun$25.00) at $0.55 (closing bid price) expiring on 6/18/2011. Cost is $9,480, and income from sale of the calls is $204 and includes your commissions. Actual return if called at expiration is 7.6%.	$204	$9,480	1,536
Totals for May:	$2,017	$46,294	$1,536
Taking $2,000 out as income total leaves $17 that will be added to the cash balance:			$1,553
Portfolio value at June expiration (June 18) is $93,911* after $10,000 taken as income in five months. Total return including income is *$103,911, up** 3.9% The S&P500 average for the year so far is down (4.6%).