Today I sold 2 MEE Mayo9 Covered Calls for a net deposit of $60.50 in an IRA account.  My basis for these MEE share is now 28.35, excluding dividends received.

MEE does pay a dividend but it is only .06 per share, up from .05 per share two quarters back.  That equates to about 2% at the current share price.  MEE closed at 12.88 today.

I am a little concerned owing a coal company because of what I hear about Obama not liking coal as a source of energy.  I think though, that coal will need to be used for energy despite regulatory roadblocks that may be placed in the way.

MEE generally meets my investment goals but the dividend is a little lower than I really want.  I am happy that I could sell a current month option this time.  The Apr09 options that just expired I sold back in Dec08.