On 2/24/09, I sold 5 AA Mar09 7.50 Calls for a net deposit of $68.35 in an IRA account.  My basis for these AA shares is now 28.99, excluding dividends received.

AA pays a dividend of .17 per quarter which is about a 10.9% yield at its current price of 6.23.  Of course, I own it somewhat higher than that so my yield is only about 2.3% at my current basis, plus option premiums of course.

I think I will probably continue to hold onto AA (that is my natural inclination for most stocks), selling Covered Calls and collecting the dividends.  I believe its share value will recover back to the 30 – 40 dollar range in the next year or so as the world economy recovers and the demand for aluminum increases.