On 7/21/08, I sold 1 WM Oct08 10 Covered Call for a net deposit of $21.25 in my taxable account.
$21.25 is not a great amount of money and Oct08 seems like a long time out but I just don’t trust the financial segment. It seems like something unexpected is always happening. I don’t really think that WM will get to $10 but stranger things have happened. I own these WM shares at an average of 45.93 (gasp) so don’t really want them called away yet.
I am still catching up from being on vacation for 17 days so I am still a little behind posting recent activity in my various accounts. I think I can post everything today.
July has been an okay month for me. Or was it? I own 200 shares of IndyMac Bank (IDMC) and used to own 200 shares of Countrywide Financial Corp (CFC). Of course the CFC is now 36 shares of Bank of America (BAC) which is a little better than CFC. 
As I wrote earlier, I was assigned 300 share of Yamana Gold (AUY) in an IRA account which I am okay with. As document earlier I rolled out several Jul08 options that I did not want to be assigned or called away. All of the rest of my Jul08 option positions expired worthless allowing me to keep all of the option premiums. Here is the list of those options that expired. Note that the Total Received column may be higher because it is the result of rolling out a prior option. For example, the AGU Put was originally sold in Dec07 and rolled out three times before it finally expired in Jul08. The actual net received was 8.72 per share or $1744. Still not too bad though. Also, where there are multiple rows for a stock each row represents a separate trading account.
| Stock Symbol | Option Symbol | Call/Put | Bought / Sold | Strike Price |
Number of Contracts |
Total Received |
| AGU | AGUSM | Put | Sold | 65.00 | 2 | 2010.48 |
| ALSK | ULOGC | Call | Sold | 15.00 | 5 | 138.25 |
| ALSK | ULOGC | Call | Sold | 15.00 | 4 | 89.00 |
| AMD | AMDGK | Call | Sold | 8.00 | 2 | 286.50 |
| AUY | AUYGC | Call | Sold | 15.00 | 5 | 263.25 |
| AUY | AUYGC | Call | Sold | 15.00 | 1 | 51.25 |
| AUY | AUYGC | Call | Sold | 15.00 | 1 | 51.25 |
| BAC | BACGF | Call | Sold | 30.00 | 2 | 84.50 |
| BP | BPGM | Call | Sold | 65.00 | 2 | 360.50 |
| CCJ | CCJGH | Call | Sold | 40.00 | 2 | 200.50 |
| ETFC | EUSGA | Call | Sold | 5.00 | 4 | 69.00 |
| ETFC | EUSGA | Call | Sold | 5.00 | 8 | 146.00 |
| GGC | GGCGA | Call | Sold | 5.00 | 6 | 137.50 |
| GGC | GGCGA | Call | Sold | 5.00 | 3 | 49.75 |
| GGC | GGCGA | Call | Sold | 5.00 | 2 | 20.50 |
| GM | GMGC | Call | Sold | 15.00 | 6 | 275.50 |
| GM | GMGC | Call | Sold | 15.00 | 6 | 305.50 |
| HOG | HOGGV | Call | Sold | 42.50 | 2 | 200.50 |
| IR | IRGV | Call | Sold | 42.50 | 2 | 50.50 |
| LEH | LYHGE | Call | Sold | 25.00 | 2 | 312.50 |
| MO | MOGM | Call | Sold | 22.00 | 2 | 38.50 |
| PDS | PDSGF | Call | Sold | 30.00 | 2 | 50.50 |
| TBI | TBIGC | Call | Sold | 15.00 | 4 | 89.00 |
| TIE | TIEGD | Call | Sold | 20.00 | 2 | 70.50 |
| WM | WMGR | Call | Sold | 12.50 | 1 | 15.25 |
| YHOO | YHQGE | Call | Sold | 25.00 | 2 | 54.50 |
| YHOO | YHQGE | Call | Sold | 25.00 | 2 | 54.50 |
On Tuesday, 5/20/08, I sold 1 WM Jul08 12 Covered Call for a net deposit of $15.25 in my taxable account.
$15.25 is not much to brag about but it is better than a sharp stick in the eye. :-) I’ve talked some about why I own WM in a previous post which you can locate by entering WM in the search box. In short though, I have owned most of my 100 shares for probably 40 years. I purchased some awhile back in order to be able to sell Covered Calls on them. I use my most recently purchased price, even though it is much higher, as the purchased price for the entire 100. From that point, my basis is now $46.04 for my WM stock. I would not consider purchasing shares in WM today. They have cut their dividend to .01 quarterly and the company appears to be a little shaky. I’m somewhat of an optimist though.
