Yesterday I STO 2 NLY Oct08 12.50 Puts for a net deposit of $100.50 in an IRA account.  If put to me my basis for these NLY shares would be 12.00.

I know, just a couple of days ago I said something about not selling any new Puts for awhile because of my distrust of the current market.  Then I got some dividends on the few NLY shares that I already own and started to look at it again.  The company has been increasing revenue and EPS, even in this horrible real estate and mortgage market.  NLY has also been raising its dividend which is currently at .55 per quarter (16.36%) up from .34 per quarter in December 07.  I got further support as I read one of my advisory services report that analysts are moving NLY from a Hold to a Buy.  Actually, I should maybe have just bought the stock and sold Covered Calls at a 15 strike.