Tuesday, April 22, 2008

Buy Microsoft and Bank of New York Mellon

Two new covered call positions were established today in the Covered Calls Advisor Portfolio(CCAP) as follows:

1. Microsoft Covered Calls Established for May08

04/22/08 Bought 1000 MSFT @ $30.02
04/22/08 Sold 10 MSFT May08 $31 Calls @ $.82

Annualized Return If Stock Price Unchanged (ARIU): +39.8%
Annualized Return If Exercised (ARIE): +87.5%
Downside Breakeven Protection: 2.7%

2. Bank of New York Mellon Covered Calls Established for May08

04/22/08 Bought 500 BK @ $40.67
04/22/08 Sold 5 BK May08 $40 Calls @ $2.05

Annualized Return If Stock Price Unchanged (ARIU): +47.6%
Annualized Return If Exercised (ARIE): +47.6%
Downside Breakeven Protection: 5.0%

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