I finally sold a WM May08 16 Call on the one lot of WM shares that I own for a deposit of 18/25 in my taxable account.  I’ve written before in this blog about why I own it.  I don’t really know my basis because I have owned 75 of the 100 shares for many, many years and through several mergers so I am using the price of the 25 shares that I purchased in Jan 06 of 46.19.  That was near it high of course.

I also sold the following May08 Puts:

• 3 SGP 17.50 for 108.75 in an IRA account, 32.62% annualized
• 2 YHOO 27.50 for 190.50 in my taxable account, 54.05% annualized
• 2 YHOO 27.50 for 190.50 in an IRA account, 54.05 % annualized
• 2 GM 17.50 for 54.50 in an IRA account, 24.28% annualized

The reasons for SGP and YHOO are the same as last month.  SGP has just been beaten down too low and YHOO because of the pending MSFT deal.  GM because 17.50 appears to be its support going back 5 years and I think GM will continue higher from here, especially once the axle supplier get back to work.

I had a number of Apr08 Options expire worthless allowing me to keep the entire Premium  They are listed below for the record.  Note that the total received may be larger than expected because the option may have been rolled out.