Today I sold 2 CCJ Jun08 40 Puts for a net deposit of 220.50 in an IRA account. This sale represents a 44.95% annualized return on the potential assignment cost.  I have sold Puts on CCJ several times since December 2005.  This it the first Put I have sold since May05 2007 45 Puts in April 2007.  I [...]

I sold 2 RIO Jul08 35 Puts for a net deposit of $112.50 in my taxable account. This sale represents a 10.22% annualized premium on the potential purchase price of RIO.  This is my taxable account which I have been working most of the year to “heal” or to reduce my potential margin exposure.  (I’m actually feeling pretty [...]

Today I sold 2 BP Jun08 75 Puts for a net deposit of 330.50 in an IRA account.  This sale represents a 35.95% annualized return on the purchase price if assigned. Oil is falling today and still BP is up.  I don’t know if the current price for a barrel of oil is a bubble [...]