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Monday, April 21, 2008

Mylan Labs and Seagate Technology -- Closed

1. Mylan Labs (MYL) -- Closed

The position in Mylan Labs (MYL) was closed today by selling the 800 shares owned.

The Transactions History to date is as follows:
02/20/08 Initial Stock Purchase Transaction -- Bought 800 MYL @ $12.85
02/20/08 Initial Calls Sold Transaction -- Sold 8 MYL Mar08 12.5 Calls @ $.75
03/22/08 Mar08 Options Expired
03/24/08 Covered Calls Continuation Transaction -- Sold 8 Apr08 12.5 Calls @ $.20
Note: Price of MYL was $11.27 when the calls were sold today.
04/19/08 Apr08 Options Expired
04/21/08 Sold 800 MYL at $12.51

The overall performance results(including commissions)for the MYL transactions were as follows:
Stock Purchase Cost: $10,289.95
($12.85*800+$9.95 commission)

Net Profit:
(a) Options Income: +$728.10 (800*$.75 + 800*$.20 - 2*$15.95 commissions)
(b) Dividend Income: $0
(c) Capital Appreciation: -$291.90
= ($12.51-$12.85)*800 - 2*$9.95 commissions

Total Net Profit: +$436.20
= ($728.10 + $0 - $291.90)

Annualized Return: +26.2%
(+$436.20/$10,289.95)*(365/59 days)


2. Seagate Technology (STX) -- Closed

The position in Seagate(STX) was closed today by selling the 800 shares owned.

The Transactions History to date is as follows:
12/26/07 Initial Stock Purchase Transaction -- Bought 800 STX @ 25.84
12/26/07 Initial Call Options -- Sold 8 STX Jan08 27.5 Calls @ $.55
01/19/08 Jan08 Options Expiration Date -- STX closed below the strike price
01/30/08 Ex-Dividend Date $.100 * 800 shares = $80 dividend income
02/13/08 Covered Calls Continuation Transaction -- STO 8 Mar08 25 Calls @ $0.45
03/22/08 Mar08 Options Expired
03/24/08 Covered Calls Continuation Transaction -- Sold 8 Apr08 22.5 Calls @ $.60
Note: The price of STX was $21.70 when the calls were sold on 3/24/08.
04/19/08 Apr08 Options Expired
04/21/08 Sold 800 STX at $19.50

The overall performance results(including commissions)for the STX transactions through the Apr08 expiration would be as follows:
Stock Purchase Cost: $20,681.95
($25.84*800+$9.95 commission)

Net Profit:
(a) Options Income: $1,152.15 (800*$.55 + 800*$.45 +800*$.60 - 3*$15.95 commissions)
(b) Dividend Income: $80.00 ($.100 dividend * 800 shares)
(c) Capital Appreciation: -$5,091.90
= ($19.50 - $25.84)*800 - 2*$9.95 commissions

Total Net Profit: -$3,859.75
= (+$1,152.15 + $80.00 - $5,091.90)

Annualized Return: -58.2%
(-$3,859.75/$20,681.95)*(365/117)

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