On Monday, 5/19/08, I BTC 10 LVLT Jun08 5 Puts and BTC 10 LVLT Sep08 5 Puts for a net deposit of $159.01 in my taxable account.

This trade allowed me to lock in $218.99 from the prior Put sale (which was also a roll out) because LVLT has risen in value some and because the time value of my Jun08 Puts had eroded.  I see that some of the analysts that follow LVLT have raised their recommendationsto market perform.  I originally got involved with this stock based upon a Jim Cramer recommendation.  If I remember correctly, Jim still thinks that LVLT is below where it should be.  However, it does not really match my current model so if it ever expires worthless I will probably not get involved with it again.  If I should get assigned, I will probably hold it and sell Covered Calls for as long as I can.