On 8/18/08, I sold 3 S Sepo8 10 Covered Calls for a net deposit of $79.75 in an IRA account.  My basis for S is now 21.56.

S is not currently paying a dividend so it does not meet my general investment philosophy.  Unlike some other stocks I suspect that I will let S go when I get my basis below a strike price I can sell at.  I just don’t feel good about it.

S has been trading in a range between about 10 and about 7.50 for about the past 4 months.  Some might say it is building a base for a rise but I am not so sure.  I tend to think it is just muddling along.