Gamble of Day on WM

I am taking a real flyer on this one.

WM BTO 1000 shares @ 4.03 ($4,039.95)
STO 10 3Aug08 @ 1.46 Income $1447.04
If Exercised net 9.75% - Monthly 14.63%, Annual 178.0%
Downside Protection >36%

SPLS New Position & APA Adjusted

I opened a new position in Staples (SPLS) and adjusted my position in APA.

SPLS BTO 500 shares @22.41 ($11,214.95)
STO 5 Aug08 @ 0.85 Income $412.04
If Exercised net 3.87% - Monthly 5.81%, Annual 70.32%


APA BTO 100 shares @ 143.55
STO 1 135Jul08 @ 10.20 net $1007.04
BTC 1 135Jul08 @ 0.50 net ($62.95)
STO 1 130Jul08 @ 1.00 net $87.04 Expired
STO 1 135 Aug 08 @ 0.90 net $77.04
BTC 1 135 Aug08 @ 0.35 (47.95)
STO 1 125 Aug08 @ 1.00 $87.04
Net if Exercised -4.56% - Monthly –3.18% - Annual -38.68% NOTE: Must watch and not let be exercised.

TRA Rolled Out and Up

With the jump in TRA based on its earnings report, I decided to BTC my Aug 45 position and STO an Aug 50 position. Summary of TRA position below:

TRA
BTO 300 shares TRA ($14,625.95)
STO 3 45 Aug 08 @ 5.90 Income $1,757.04
BTC 3 45 Aug08 @ 7.00 ($2,112.95)
STO 3 50 Aug08 @ 3.60 Income $1067.04
If Exercised net 7.33% - Monthly 10.00%, Annual 121.62%

United Health, UNH, New Position

Today I purchased UNH (United Health) and open CCs. I wanted to add a health position to diversify my portfolio.

UNH
BTO 400 shares UNH @23.37 ($10,957.95)
STO 4 27.5 Aug08 @ 1.05 Income 407.04
If Exercised net 3.98% - Monthly 5.69%, Annual 69.17%

COST - Cost Continuing Action

I took a chance on a reduced CC position on COST today since it had a major drop in price.

COST BTO 200 shares @72.85
STO 2 72.5Jul08 @ 1.85 net $377.04 Expired
STO 2 72.5 Aug08 @ 2.30 net 447.04
BTC 2 72.5 Aug08 @0.15 ($42.95)
STO 2 67.5 Aug08@0.75 net $137.04
Net if Exercised -1.2% NOTE: I must watch can NOT let it be exercised, will roll out if necessary

CSCO, VZ, TRA - New Positions

The following new positions were established today. All were ATM.

Account 1
CSCO
BTO 100 shares CSCO ($2,216.76)
STO 1 22 Aug 08 @ 0.88 Income Net $79.74
If Exercised net 2.07% - Monthly 2.83%, Annual 33.9%
If not exercised 3.6%

Account 2
VZ
BTO 300 shares VZ ($10,809.95)
STO 3 35 Aug 08 @ 1.72 Income $503.04
If Exercised net 1.67% - Monthly 2.27%, Annual 27.64%

TRA
BTO 300 shares TRA ($14,625.95)
STO 3 45 Aug 08 @ 5.90 Income $1,757.04
If Exercised net 4.23% - Monthly 5.76%, Annual 70.11%

GE, JPM New Positions - BA, TRA, VZ, GRA, CVS, WHR, MCD, UNH Watch

I remain slightly bearish on the market. Therefore, I sold calls ATM rather than OTM. Last month I was selling ITM to get significant downside protection but I feel a little more confidant this month. The following positions were established in Account 2.

GE
BTO 400 shares GE @ 28.05 Total ($11,229.91)
STO 4 28GE Aug 08 @ 0.79 Income $303.04
If Exercised net 2.32% - Monthly 2.90% , Annual 35.23%

JPM
BTO 300 shares JPM @ 40.19 Total ($12,066.95)
STO 3 40JPM Aug08 @ 1.99 Income $584.04
If Exercised net 4.18% - Monthly 5.22%, Annual 63.53%

I am watching other stocks for new positions but I am waiting for earnings reports this week on the stocks prior to establishing a new position. BA, TRA, VZ, GRA, CVS, WHR, MCD, UNH are being considered depending upon earnings reports and other technicals. Also have to watch my allocation between sectors.

Continuing Positions Account 1 - AUY, JRCC, LDK

Continuing Positions in Account 1 – All trades to date are not shown but exercised positions shown include all transactions and commissions for net for each position.

AUY
STO 1 16 Aug 08 @ 0.25 net $16.74
If exercised net 0.83% - monthly 0.18%, annual 2.1%

AUY
STO 2 15 Aug 08 @ 0.50 net $90.49
If exercised net 17.8% - monthly 4.08%, annual 48.9%

JRCC
STO 2 50 Aug 08 @ 3.85 net $753.48
If exercised net 5.09% - monthly 2.94%, annual 35.3%

LDK
STO 1 45 Aug08 @ 0.85 net $76.74
If exercised net 14.16% - monthly 5.06%, annual 60.7%

APA, AUY, COST, and RIMM Continuing Positions Established

The following continuing positions were established today in Account 2.

APA BTO 100 shares @ 143.55
STO 1 135Jul08 @ 10.20 net $1007.04
BTC 1 135Jul08 @ 0.50 net ($62.95)
STO 1 130Jul08 @ 1.00 net $87.04 Expired
STO 1 135 Aug 08 @ 0.90 net $77.04
Net if Exercised 2.16% - Monthly 1.51% - Annual 18.35%

COST BTO 200 shares @72.85
STO 2 72.5Jul08 @ 1.85 net $377.04 Expired
STO 2 72.5 Aug08 @ 2.30 net 447.04
Net if Exercised 5.01% - Monthly 3.50% - Annual 42.57%

AUY BTO 500 shares @ 16.31
STO 5 15Jul08 @ 1.5 net $737.04 Expired
STO 5 16 Aug 08 @ 0.25 net $112.04
Net if Exercised 8.22% - Monthly 5.73% - Annual 69.77%

RIMM BTO 100 shares @ 123.29
STO 1 115Jul08 @10.00 net $987.04 Expired
STO 1 120 Aug 08 @ 4.00 net $87.04
Net if Exercised 8.28% Monthly 5.78% - Annual 70.32%

Call Exercised - July BMY, SCHW, VZ, GE, JPM, TRA

While on vacation the following options were exercised:
ACCOUNT 1
BMY net after 22 days 2.51% (includes dividend to be paid) monthly 3.42%, annual 49.6%
SCHW net after 168 days 6.34 %, monthly 1.13%, annual 14.5%

ACCOUNT 2
GE net after 16 days 2.44%, monthly 4.57%, annual 55.66%
JPM net after 15 days 1.64%, monthly 3.28%, annual 39.95%
TRA net after 16 days 1.69%, monthly 3.17%, annual 38.62%
VZ net after 16 days 1.87%, monthly 3.51%, annual 42.70%

All returns include commissions. I am now evaluating remaining stocks and determining next actions: sell stock, sell options, etc. I am also evaluating new positions to establish.