Investment Enhancing Systems, Inc. – Covered Call Analyzer

The Covered Call Analyzer

COVSERVATIVE "STOCKS-TO-CONSIDER" for July, 2008

NOTE: In April 2008, we have increased this list from 10 to 20 and reduced the money available from $10,000 to $5,000 for each stock purchase. The text in the table below is what the Analyzer provides for each buy/write. The Comments row will provide what happened to each of these buy/writes next month on expiration weekend.

On the weekend following the third Friday of each month (expiration weekend), this page will list several stocks that were found using the online Covered Call Analyzer. A review of all the stock/call combinations listed by the Analyzer is made and certain qualifying combinations are listed here. We are using the default values of the Covered Call Analyzer, with the exception of the money available which is set to $5,000 (our default value), and we usually include some stocks selected from the "Stock/Call Combinations with high PE or negative earnings" list, but these are carefully selected after reviewing the data presented in the "Analyze these stock/call combinations" page. We are looking for combinations that provide a high cash premium. These are the ones that the markets are saying should go up. Each listing is exactly what the Analyzer provides when it is run.

Click on the stock symbol and you will be taken to MSN Money stock analysis page for the stock to consider. You can click on the options link on that page to take you to a full set of option chains for the stock

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.

This list was published on July 19, 2008. Next update of this page will be the weekend of August 16, 2008.

Buy 400 shares of REGIONS FINANCIAL CORP (RF) at $10.11 (closing last trade price) and sell 4 call Out-of-the-Money contracts of RF HV (Aug$12.50) at $0.60 (closing bid price) expiring on 8/16/2008. Cost is $4,064, and income from sale of the calls is $224 and includes your commissions. Annualized return if called is 372%.
Comments:
Buy 200 shares of RENESOLA LTD ADR (SOL) at $16.70 (closing last trade price) and sell 2 call Out-of-the-Money contracts of SOL HD (Aug$20.00) at $0.80 (closing bid price) expiring on 8/16/2008. Cost is $3,360, and income from sale of the calls is $147 and includes your commissions. Annualized return if called is 305%.
Comments:
Buy 200 shares of TESORO CORPORATION (TSO) at $16.69 (closing last trade price) and sell 2 call Out-of-the-Money contracts of TSO HD (Aug$20.00) at $0.75 (closing bid price) expiring on 8/16/2008. Cost is $3,358, and income from sale of the calls is $137 and includes your commissions. Annualized return if called is 302%.
Comments:
Buy 100 shares of TBS INTERNATIONAL LTD (TBSI) at $37.21 (closing last trade price) and sell 1 call Out-of-the-Money contracts of TQF HI (Aug$45.00) at $1.05 (closing bid price) expiring on 8/16/2008. Cost is $3,741, and income from sale of the calls is $94 and includes your commissions. Annualized return if called is 297%.
Comments:
Buy 500 shares of ISTAR FINANCIAL INC (SFI) at $8.94 (closing last trade price) and sell 5 call Out-of-the-Money contracts of SFI HB (Aug$10.00) at $1.05 (closing bid price) expiring on 8/16/2008. Cost is $4,490, and income from sale of the calls is $508 and includes your commissions. Annualized return if called is 296%.
Comments:
Buy 500 shares of WESTERN REFINING INC (WNR) at $8.76 (closing last trade price) and sell 5 call Out-of-the-Money contracts of WNR HB (Aug$10.00) at $0.80 (closing bid price) expiring on 8/16/2008. Cost is $4,400, and income from sale of the calls is $383 and includes your commissions. Annualized return if called is 291%.
Comments:
Buy 100 shares of ZIONS BANCORP (ZION) at $25.32 (closing last trade price) and sell 1 call Out-of-the-Money contracts of ZNQ HF (Aug$30.00) at $0.95 (closing bid price) expiring on 8/16/2008. Cost is $2,552, and income from sale of the calls is $84 and includes your commissions. Annualized return if called is 272%.
Comments:
Buy 400 shares of SYNCHRONOSS TECHNOLOGIES (SNCR) at $10.90 (closing last trade price) and sell 4 call Out-of-the-Money contracts of QQR HV (Aug$12.50) at $0.65 (closing bid price) expiring on 8/16/2008. Cost is $4,380, and income from sale of the calls is $244 and includes your commissions. Annualized return if called is 257%.
Comments:
Buy 500 shares of BOYD GAMING CORP (BYD) at $9.15 (closing last trade price) and sell 5 call Out-of-the-Money contracts of BYD HB (Aug$10.00) at $0.85 (closing bid price) expiring on 8/16/2008. Cost is $4,595, and income from sale of the calls is $408 and includes your commissions. Annualized return if called is 231%.
Comments:
Buy 300 shares of OFFICEMAX INCORPORATED (OMX) at $13.35 (closing last trade price) and sell 3 call Out-of-the-Money contracts of OMX HC (Aug$15.00) at $0.65 (closing bid price) expiring on 8/16/2008. Cost is $4,025, and income from sale of the calls is $181 and includes your commissions. Annualized return if called is 212%.
Comments:
Buy 400 shares of BIDZ.COM INC (BIDZ) at $11.36 (closing last trade price) and sell 4 call Out-of-the-Money contracts of QGZ HV (Aug$12.50) at $0.80 (closing bid price) expiring on 8/16/2008. Cost is $4,564, and income from sale of the calls is $304 and includes your commissions. Annualized return if called is 211%.
Comments:
Buy 500 shares of AMERICREDIT CORP (ACF) at $9.12 (closing last trade price) and sell 5 call Out-of-the-Money contracts of ACF HB (Aug$10.00) at $0.60 (closing bid price) expiring on 8/16/2008. Cost is $4,580, and income from sale of the calls is $283 and includes your commissions. Annualized return if called is 200%.
Comments:
Buy 100 shares of QUICKSILVER RESOURCES (KWK) at $30.92 (closing last trade price) and sell 1 call Out-of-the-Money contracts of KWK HG (Aug$35.00) at $1.00 (closing bid price) expiring on 8/16/2008. Cost is $3,112, and income from sale of the calls is $89 and includes your commissions. Annualized return if called is 200%.
Comments:
Buy 200 shares of SATYAM COMPUTER SERVICE (SAY) at $22.04 (closing last trade price) and sell 2 call Out-of-the-Money contracts of SAY HE (Aug$25.00) at $0.55 (closing bid price) expiring on 8/16/2008. Cost is $4,428, and income from sale of the calls is $97 and includes your commissions. Annualized return if called is 197%.
Comments:
Buy 300 shares of TCF FINANCIAL CORP (TCB) at $13.41 (closing last trade price) and sell 3 call Out-of-the-Money contracts of TCB HC (Aug$15.00) at $0.55 (closing bid price) expiring on 8/16/2008. Cost is $4,043, and income from sale of the calls is $151 and includes your commissions. Annualized return if called is 196%.
Comments:
Buy 100 shares of TRICO MARINE SERVICES (TRMA) at $26.50 (closing last trade price) and sell 1 call Out-of-the-Money contracts of QFS HF (Aug$30.00) at $0.80 (closing bid price) expiring on 8/16/2008. Cost is $2,670, and income from sale of the calls is $69 and includes your commissions. Annualized return if called is 195%.
Comments:
Buy 100 shares of LEGG MASON INC (LM) at $35.59 (closing last trade price) and sell 1 call Out-of-the-Money contracts of LM HH (Aug$40.00) at $1.20 (closing bid price) expiring on 8/16/2008. Cost is $3,579, and income from sale of the calls is $109 and includes your commissions. Annualized return if called is 193%.
Comments:
Buy 500 shares of SYNOVUS FINANCIAL CORP (SNV) at $9.44 (closing last trade price) and sell 5 call Out-of-the-Money contracts of SNV HB (Aug$10.00) at $0.85 (closing bid price) expiring on 8/16/2008. Cost is $4,740, and income from sale of the calls is $408 and includes your commissions. Annualized return if called is 184%.
Comments:
Buy 200 shares of FRONTIER OIL CORPORATION (FTO) at $18.27 (closing last trade price) and sell 2 call Out-of-the-Money contracts of FTO HD (Aug$20.00) at $1.00 (closing bid price) expiring on 8/16/2008. Cost is $3,674, and income from sale of the calls is $187 and includes your commissions. Annualized return if called is 182%.
Comments:
Buy 200 shares of MACY'S INC (M) at $18.09 (closing last trade price) and sell 2 call Out-of-the-Money contracts of M HD (Aug$20.00) at $0.70 (closing bid price) expiring on 8/16/2008. Cost is $3,638, and income from sale of the calls is $127 and includes your commissions. Annualized return if called is 175%.
Comments:
Income from sale of calls is +$4,229.
Cost of these ten (20) stocks is $77,992. At JuLY 19, 2008 (expiration weekend), this list value is $81,822, 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.

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