On 2/24/09, I sold 2 DSX Mar09 15 Covered Calls for a net deposit of $50.50 in an IRA account.  My basis for these DSX shares is now 35.07, excluding dividends received.

DSX continues to be highly rated by the various analysts with its low debt and quality long term ship contracts cited at major factors.  I am heartened to read that as my basis is currently well above the stock price of 11.73.

DSX has been paying a good and increasing dividend with the last one at .95 per quarter.  However, the company suspended its dividend after the 3rd quarter payment to “take advantage of market opportunities,” the company said in a statement.

So, while the dividends will not be appearing for now I will continue to hold the stock and be somewhat content with the option premiums until the dividends reappear.