On 2/3/10, I sold 2 BMY Mar10 24 Puts for a net deposit of $108.46 in an IRA account.  If Put to me my basis for these BMY shares would be 23.46.

I have 200 other BMY shares with Covered Calls on them at 27, expiring in Mar10.  If these Puts are assigned to me they would average down my basis for BMY by about $1.  Not sure if I’ll get them though, BMY is only .03 below my strike price and has been holding up pretty well over the past couple of weeks.

BMY pays a decent dividend of .32 per quarter which equates to about a 5.3% annualized yield.  It is one of the stocks that I want to continue to acquire on weakness.  I consider it part of my core holdings for the dividend and option premiums that I derive from it.