Most of the options I open for Jun08 expired worthless.  Most of them were Covered Calls which allowed me to in turn sell new Covered Calls on them.  In the interest of brevity, here is the list of expires with quantity, strike price and whether it was a Put or Call.  I will make additional posts shortly on specific stocks where I have something more to say about them.

Together, these expirations represent $3183.50 in prior deposits in my various accounts.

• 5 JOYG - 80 Put
• 2 PGH - 20 Put
•  7 AUY - 15 Call
• 2 BAC - 35 Call
• 3 CKR - 15 Call
• 51 FBR - 5 Call
• 1 FBR - 2.50 Call
• 2 GOL - 17.50 Call
• 2 IMB - 2.50 Call
• 2 IR - 52.50 Call
• 2 KFT - 35 Call
• 2 LEH - 30 Call
• 2 PM - 55 Call
• 3 S - 10 Call
• 4 TBI - 15 Call
• 4 YHOO - 30 Call

This morning I STO 1 JOYG Jun08 80 Put for a net deposit of $96.25 in an IRA account.

This trade represents a 51.52% annualized return on the potential purchase of JOYG.  Of course that is a highly inflated return because this put contract expires in only 2 weeks.

I had looked at JOYG off and on over the past several months and if memory serves me correctly Jim Cramer has had favorable comments on it.  It is certainly in one of his favorite categories for the next few years, that being a supplier of mining equipment.

I was reminded this morning about JOYG by a post at one of my fellow bloggers, Alex, at www.mytradersjournal.com/stock-options.  Alex sold a July 75 put.  He tends to sell a little further in the future than I do.  I tend to prefer to sell closer puts so as to not be exposed so long and turn the money faster.