Today I sold 2 BAC Feb09 10 Covered Calls for a net deposit of $18.50 in an IRA account.  My basis for these BAC shares is now 45.10, excluding any dividends received. How the mighty have fallen.  Just last September I sold 2 BAC Jan09 40 Covered Calls for 350.50.  Now I am reduced to sell the [...]

I keep writing about collecting dividends along with option premiums as part of my basic investment philosophy.  I thought I should begin to write about the dividends a little, if nothing more than to report them.  They do happen on a regular basis and add to my annual investment income.  So with that… Today, I received [...]

On Wednesday, 1/28/09, I sold 2 IR Feb09 20 Covered Calls for a net deposit of $40.50 in an IRA account.  My basis for these IR shares is now 49.01, excluding dividends received. IR pays a dividend of .18 per quarter which is about 4.3% annualized.  Not a bad percentage at the current stock price.  [...]