This morning I sold 2 TIE Jul08 20 Covered Calls for a net deposit of $70.50 in my taxable account.  My basis for these TIE shares is now 26.91 exclusive of dividends received.

As I said yesterday, I would sell the Jul08 Calls if I failed to get my price on the Jun08 20 Calls.  As you might surmise by this post I did not get my price.

TIE has been trading in a range of around 15 and just below 20 for the past couple of months.  I feel pretty confident that these options will expire in Jul08 allowing me to again sell Covered Calls on these shares.  If I am wrong I will, as is my custom, buy them out and sell new Calls further out to capture additional time premium.