Yesterday, I BTC 2 IR Aug09 25 Covered Calls and STO 2 IR Mar10 30 Covered Calls for a net debit of $513.03 in an IRA account.  My basis for these IR shares is now 52.47, excluding dividends received.

These trades cost me 2.56 per share for a gain of a potential $5 per share if called away at this strike price.  Of course, they also raised my basis by the same 2.56 per share.

I don’t know where IR is going but it appears right at the moment that it might be starting to plateau at about the current price of just under 32.  If it does, and it stays there, I will need to roll out the new Mar09 Calls but may be able to do so at a lower cost. 

I see that IR is a player in the growing commercial building retrofitting to be more energy efficient.  That may account for part of the increase in stock price.