I sold 2 CCJ Nov08 20 Covered Calls on 10/22/08 for a net deposit of $30.50 in an IRA account.  My basis for these CCJ shares is now 35.10 excluding dividends received.

CCJ pays a small dividend of .06 per quarter which equates to about 1.21% annualized.  Not much to write home (or here either) about but better than my money market and pass book accounts at the credit union is paying.  And, I get to collect the additional option premiums.  All that aside though, I will probably look for a better dividend return when I get above water here and can let CCJ be called away.

On Monday, 9/22/08, I sold the following Covered Calls for a net deposit of $1049.50 in my taxable and various IRA accounts.

10 AUY Oct08 12 - My basis varies from 6.24 to 11.50 for these shares.

4 DF Oct08 25 - My basis is 33.48 for 200 and 34.28 for the other 200 shares.  I don’t expect these will exceed the strike price but will roll out if they do.

2 GOL Jan09 10 - My basis is 24.12 for these shares.  I sold to far out so that I could get a little more premium without the strike being too close in because I don’t want this called away just yet.

2 TIE Oct08 15 - My basis is 29.21 for these shares.  I doubt that TIE will get to 15 but I will roll these out if it does.

2 VCLK Oct08 12.50 - My basis is 22.95 for these shares.  I will roll these out if VCLK exceeds the strike price.

4 YHOO Oct08 21.00 - My basis is 22.73 for 200 and 24.16 for the other 200 shares.  I will roll these out if, by some chance, YHOO is exceeding the strike price as we near expiration.

2 CCJ Oct08 30.00 - My basis is 35.25 for these shares.  I will roll these out if CCJ exceeds the strike price as we near expiration.

2 AA Oct08 32.50 - My basis is 28.64 for these shares.  I will probably roll them out if AA exceeds the strike price as we near expiration.  AA pays a dividend and is a raw material producer so I have a tendancy to want to hold on to it.

And that is all for Monday’s trades.

On 8/22/08, I sold 2 CCJ Sep08 30 Covered Calls for a net deposit of $260.50 in an IRA account.  My basis for these CCJ shares is now 35.65.

I am a little under water for these CCJ shares so do not want to have them called away.  CCJ does pay a small dividend of .06 per quarter.  That’s nothing to shout about but it is a dividend.  CCJ moved up to 30.25 today so I will need to watch it in case I need to roll it out and possibly up.

CCJ has done too well since mid July.  It has fallen from about 42.50 to a low of about 27.50 about a week ago.  It may be on a rebound which is all the more the reason that I need to watch it in case these options need to be rolled out and up.