Today I decided to stick my neck out some more.  I bought 200 FRE for a net cost of $1689.99 and sold 2 FRE Aug08 10 Covered Calls for a net deposit of $90.50 in an IRA account.  My basis in FRE after these transactions is 8.00 per share. The market was up big today [...]

Last Friday (7/25/08), I BTC 6 GM Sep08 12.50 Puts and STO 6 GM Dec08 12.50 Puts for a net deposit of $755.00 in my taxable account. If put to me, my basis for these GM shares would be 9.85.  GM is trading a little of 11.00 right now.  My basis provides me with some additional [...]

On Friday (7/25/08), I sold 53 FBR Jan09 2.50 Covered Calls for a net deposit of $1245.25 in my taxable account and 4 IRA accounts.  My basis for FBR ranges from 8.40 to 9.26 per share including option premiums but excluding dividends received. As you can see, I am way underwater on FBR.  It is [...]