The markets have been down all day.  The DOW is down just over 200 points right now.  So, I did not get the call premiums I anticipated in yesterday’s post.

I sold Dec 07 calls for the following(Qty,Strike Price): NVDA(2,$35), FCX(1,$105), KFT(2,$32.50), S(3,$17), ALSK(4,$15).

I sold Jan 08 calls for the following: GGC(4,$10).  I would like to have sold Dec calls but I am well underwater (I own them at 22.04 excluding dividends) on this stock and wanted to get a greater premium.

I sold Mar 08 calls for the following: FBR(9,$5).  I am underwater on these shares (I own them at 9.21 excluding dividends).

I sold Jun 08 calls for the following: FBR(9,$5).  I am underwater on these shares (I own them at 8.64, 8.70 and 9.18, excluding dividends).  I had to sell the Jun calls to make anything because these are smaller lots in three different IRA accounts.

I also BTC and then rolled out and down 2 Dec 27.50 GM puts.  I had to go out to the Jun 25 puts to reduce the strike price and create some additional cash ($227) into the account.  This is in the taxable account that I am nursing back to health as noted in comments on prior days.  An interesting note is that I have made over $6,000 on GM and never owned a share.  Of course I may one-day .

I sold new contracts as follows:

2 Dec $75 FCX puts in my taxable account for 22.69% return on the potential liability.  These are sufficiently OTM (FCX closed at 93.11 today) that I feel good about their expiring in Dec.  If not, I will have a lot of time to decide when to roll them further out.

4 Dec $15 BVF puts in an IRA account for a 21.33% return on the potential liability.  The stock closed at 16.45 and its chart suggests that it is near its bottom.  BVF currently pays a 8.61% dividend.

The result of all this activity is a net of $1440.01 of new cash into the various accounts.