On 1/19/10, I sold 4 ETFC Mar10 2 Covered Calls for a deposit of $30.94 in my taxable account.  My basis for these ETFC shares is now 17.90.

I’ve finally decided to let ETFC be called away and take the loss if it reaches the strike price by expiration day.  If not this time then maybe next time.  I will just continue to sell Covered Calls on it just above it’s current price to reduce my loss but do not at this time expect to take any action to save the stock.  I guess something could change my mind but I don’t see that unless I still own it a year from now when there is some suggestion that it’s mortgage portfolio may have improved enough to raise the stock price.  We’ll see how it turns out.