On 5/29/09, my 5 AUY Jun09 8 Covered Calls were called away.

I had originally purchased these AUY shares at at average cost of 12.59.  I collected a total of 7.44 in option premiums to reduce my basis to 5.15.  The result is a profit of 2.85 per share.

I was surprised that these AUY shares were called away so far in advance of their expiration.  I would have expected that the option holder would have just sold his options rather than take possession of the stock.  I had really thought that I would be rolling these options out and continue to gather the premiums until my basis was at zero.     However, a profit is a profit and that has not been easy to find with many of my stocks for the past year.  Even that is beginning to change now as the market advances and I continue to sell Covered Calls on the stocks I own.