New Position - UYG

UYG BTO 300 shares @$5.91 ($1,782.92) 12/10/08
STO 3 6 Dec 08 @0.51 Income $140.04
If Exercised 8.25%, Monthly 27.51%, Annual 334.76%

Preparing for End of Call Period

As we approach the Dec call date I am evaluating what actions to take. Many of my positions in Account 2 (10 at this time) are now ITM. Should I roll out/up or let expire. Since this account is an active trader account within a LLC and I use MTM accounting, I may elect to just let the positions be exercised. I can repurchase without wash sale concerns within the LLC to reestablish those positions that I feel should be continued. If other stocks offer better opportunities in the current environment, then I will establish a position with a new stock. THe overall goal beyond 2-3% cash per month is to grow the overall account value.