Today I sold 8 ETFC Oct09 5 Covered Calls for a net deposit of $186.00 in an IRA account.  My basis for these ETFC shares is now 17.17.

I would like to add that my basis is excluding dividends but, as you may know, ETFC does not pay a dividend.  A few years ago I thought ETFC was a good Put play.  I made money for awhile with it but then I found that I owned a bunch of it.

I am selling Covered Calls until the day I can unload it at a profit.  However, if the price continues to stay as low as it has been it may turn out that my return on my basis will be so high then that I will be happy to hold onto it.