Today I BTC 2 PM Sep08 55 Covered Calls and STO 2 Mar09 60 Covered Calls for a net deposit of $141.01 in an IRA account.  My basis in PM is now 48.86.

PM closed below 55 today but has been above 55 a few times recently and I just did not want it called away from me just yet just because somebody wanted to capture the dividend.  PM pays a decent dividend, which it just raised to .54 from .46 per quarter which translates to about 4% annually.  I could have let it be called away at 55 and made a decent profit but would rather pick up an additional $1000 if somebody really wants to call it away.  If not, I can sell calls again in March.