On Wednesday, 1/28/09, I sold 2 IR Feb09 20 Covered Calls for a net deposit of $40.50 in an IRA account.  My basis for these IR shares is now 49.01, excluding dividends received.

IR pays a dividend of .18 per quarter which is about 4.3% annualized.  Not a bad percentage at the current stock price.  Of course, I own IR at a much higher price.  Even so, I can continue to hold IR while collecting the dividends and option premiums.

At this point I don’t have much else to say about IR.  I know it will rebound one day, along with most of the rest of my portfolio.  In the meantime, as I said I will just collect the dividends and option premiums to add to my monthly income stream.