Today I sold 5 AUY Dec08 5 Covered Calls for a net deposit of 147.25 in 3 IRA accounts.  My basis for these AUY shares is now 9.56 for 1 lot, 9.02 for 1 lot and 11.18 for 3 lots.

I’ve been sitting on these AUY shares since my last options expired in Oct08.  I wanted to sell a strike price at 10 but just got tired of waiting and decided to take the chance that AUY will not be above 5 when options expire in December, or if it is that I will be able to roll out and probably up prior to them being assigned.  At least, that is what the options tables look like today.  We’ll see what happens in December.

In the meantime, I continue to hold the AUY shares and collect the .01 dividend each month.  That isn’t great but it is consistent.