On 8/22/08, I sold 2 CCJ Sep08 30 Covered Calls for a net deposit of $260.50 in an IRA account.  My basis for these CCJ shares is now 35.65.

I am a little under water for these CCJ shares so do not want to have them called away.  CCJ does pay a small dividend of .06 per quarter.  That’s nothing to shout about but it is a dividend.  CCJ moved up to 30.25 today so I will need to watch it in case I need to roll it out and possibly up.

CCJ has done too well since mid July.  It has fallen from about 42.50 to a low of about 27.50 about a week ago.  It may be on a rebound which is all the more the reason that I need to watch it in case these options need to be rolled out and up.