Yesterday I was assigned 4 BVF Jul08 20 Puts in my taxable account.

BVF is trading at 12.33 as I write this.  This assignment is not as bad as it appears because I have rolled out the puts a few times making my basis $12.81 in these shares.  BVF also pays approximately a 12.8% dividend.  I am currently chasing a $15 Oct Covered Call, trying to get another .05 per share on the option.  I tried it yesterday but did not get my price.  If I don’t get what I want today I will probably accept the lower price sometime tomorrow just so I can quit thinking about it.

I will probably keep BVF and sell the Covered Calls as long as I can.  I also own 600 shares in two of my IRA accounts.