Today I BTC 2 Nov put for TIE and rolled them out to Jan for an additional net premium of $241.01.  These have been in and out of the money over the past few days and may end up out of the money on expiration but I was getting a little nervous.  The company widely missed estimates for 3rd qtr profits and sales.  I like the company but did not want it put to me in my taxable account.  As with DSX on Monday, this generates a short term taxable loss for 2007 while still generating additional cash flow into the account.

Today I BTC 2 Nov 40 puts for DSX and rolled them out to Mar for additional net premium of $820.99.  These went ITM when DSX dropped $4 today.  I could not find any news for the drop.  Although I would not mind owning these shares in one of my IRA accounts (they pay a good dividend and have good option premiums), I want to minimize the chance of having these put to me in my taxable account.  The buy back also generates a short term taxable loss for 2007 while still generating additional cash flow into the account.