Yesterday I BTC 2 VLO Dec08 20 Covered Calls and STO 2 VLO Mar09 25 Covered Calls for a net deposit of $95.01 in an IRA account.  My basis for these VLO shares is now 54.29.

Well, my Dec08 Covered Calls didn’t last long.  I sold them just last Friday (12/12/08) and here I am rolling them out already.  I was able to roll the strike price up $5 but suspect that I will need to roll them out again prior to Mar09.  I just hope that I will be able to roll the strike price up again.  I expect that I will be able to though.