Today I BTC 2 PNRA May08 45 Calls and STO 2 PNRA Nov08 50 Calls for a net deposit into an IRA account of $201.01.

I originally was assigned PNRA at $65 in July 2007.  Looking back at my history records I see that I Puts at 70 the BTC and rolled out and down to 65, rolled out the 65 and then was assigned the stock.  I have sold Covered Calls on it since then and currently have a basis of 56.06.

I have been watching PNRA move up for awhile and finally decided today to roll it out and up to prevent it being called away from me at a price that is below my basis.  Not only did I deposit the additional $201.01 but I was able to BTC the Calls for 3.35 which I had originally sold for 6.15 thereby locking in $560 from the prior transaction.  On top of that I have raised my strike price by $5.  This is still below my basis but better than yesterday.