Buy Halliburton

The Covered Calls Advisor Portfolio (CCAP) established the following new covered call position:

10/24/07 Bought 700 HAL @ 40.01
10/24/07 Sold 7 HAL Nov07 40 Calls @ $1.25

Annualized Return If Unchanged: 47.1%
Annualized Return If Exercised: 47.1%
Downside Breakeven Protection: 3.1%

This position completes the establishing of positions for Nov07 covered calls. Approximately $9,600 cash (3.7% of total CCAP value) remains in CCAP to cover potential management of existing positions, such as roll ups.

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