On 8/31/09, I sold 2 ACAS Jan10 5 Covered Calls for a net deposit of $18.49 in an IRA account.  My basis for these ACAS shares is now 23.46, excluding dividends received.

At this point, ACAS is a pure speculative play for me.  If (did I say if..I mean when) the economy revives ACAS should do okay.  Otherwise, I may lose it all or just bump along down here picking up some option premium about twice a year and an occasional dividend.  Speaking of dividends, the last one paid in early August.  It was valued at $1.07 per share and was split between cash and additional stock.  I received 37.04 in cash and 176.96 in additional stock.  I keep meaning to sell the extra stock but just haven’t gotten around to it yet.