This morning I sold 2 BAC Jan08 35 Covered Calls for a net deposit of $108.50 in an IRA account.
This represents an annualized return of 25.79% on my current basis.  Of course my current basis is 46.47 so I do not want this called away at this price.  I’ve been watching BAC since the May08 [...]

This morning I sold 6 GM Jul08 12.50 Puts for a net deposit of $143.50 in my taxable account.  This represents an annualized return of 13.50% on the potential purchase of the stock.
I just couldn’t watch GM at this level anymore without getting further exposed.  I have to look back to sometime in 1989 (split [...]

I BTC 2 DSX Jun08 40 Puts and STO 2 DSX Sep08 40 Puts for a net deposit of $281.01 in my taxable account.
 I debated whether or not to roll these out.  DSX pays a good dividend, currently 10.09%, and has been raising it each quarter this year.  If assigned DSX in Jun08 I would [...]