On 3/23/09, I sold 5 BAC Apr09 9 Covered Calls for a net deposit of $248.25 in an IRA account.  My basis for these BAC shares is now 20.42, excluding dividends received.

I’ve sold Covered Calls on a number of stocks this month where the strike price may be a little too close.  I’m not entirely convinced that the current rally is really the start of a bull market so suspect that there is a chance that some of the stocks will not hold the recently achieved higher prices or continue to move higher.  This is a little unusual for me because I tend to be an optimist.  BAC is one of those stocks.  It has fallen off of late but it may yet rally and move up to and beyond the 9 strike price.  I just need to watch it and be prepared to roll it out and probably up if I am proven wrong.  But, then, what else is new?