On 8/31/09, I sold 3 ZQK Feb10 Covered Calls for a net deposit of $47.74 in my taxable account.  My basis for these ZQK shares is now 10.03.

ZQK seems to be showing some signs of life again.  I read that they were able to negotiate an extension on the maturity of a large line of credit which was due on Jul 31.  They are apparently in negotiations for a new, larger 4 year line of credit to replace the existing which they expect to close by the end of September.

Since then, there have been some days with order imbalances on the NYSE on the buy side. 

Although these are encouraging signs my goal with ZQK, at least at this point, is to continue selling Covered Calls until I can get it called away above my basis.  I would reconsider if at that time the option premiums I am able to generate are in the 20% annualized range.  The lower my basis becomes the more likely that may be.