On 5/27/09, I sold 2 BA Jun09 45 Covered Calls for a net deposit of $210.50 in an IRA account.  My basis for these BA shares is now 51.71, excluding dividends received.

When I sold these Calls the 45 strike price looked a little aggressive.  I thought that the market would begin a pull back in May or June as it has so often in the past.  At this point it appears that may not happen.  With BA above $50 as I write this I am trying to decide if I should roll these Calls out and perhaps up soon or perhaps wait another week for the time value to further decay and perhaps for the market to finally make its anticipated correction.  I suspect that I will wait a few more days.