Header Out on Vacation - Will Monitor Positions

I will be on vacation for the next week plus. I will return home on Sunday 20 in time for new CCs on Monday. Currently it looks like I will only have a few options exercised unless we see an untrend next week and with Freddie and Fannie I am not overly confident that will occur. I will have my computer with me and being checking as call Friday arrives to see if any actions are required.

OptionsXpress / CSE Customers

The rates shown on OptionsXpress site for CSE customers are verymisleading and the claim by CSE that the rates at OptionsXpress aregood is misleading. To get the 1.25 per contract rate you must buymore than 10 contracts for an individual stock and maintain over 35contract trades per quarter. The per quarter requirement is OK. Butwho can made 10 or more contracts for every stock they trade.Otherwise the rate is 12.95 per trade of options on each stock. That is 1 conctract is 12.95 or 3 contracts are 12.95 total.

Beware if you are considering using OptionsXpress. I am trying to getinfo from CSE/Joe to see their position since they are pushingOptionsXpress.

Red Robin Gourmet Burger (RRGB) Added

Purchased RRGM and sold CC today.
BTO 300 shares RRGB @ $29.20
STO 3 25Aug08 @ 4.90 per share
Return if Exercised 2.58% , Monthly 2.10 %, Annual 24.78%
Downside Protection 16.64%

RRGM broke price broke through upward the fast MA

Bristol Myers Squibb Co. (BMY) Not Excercised

BMY went ex-dividend on 7/2/08 and my 20 Jul 08 call was not excerised. Therefore, I will receive the dividend 0.31 per share payable 8/1/08. The stock could still be exercised 7/18. If excercised on 18th the total income, when dividend paid, will be 31.74 from CC and 31.00 from dividend for a total of $61.74 on a purchase of $1995.74. Monthly return - 3.27% and Annual return - 39.2% If not excerised I will evaluate whether to sell stock or sell another CC.

Guns and Cash - Todays Transactions

JPM BTO 300 shares @ 35.95
STO 3 32.5Jul08 @ 4.12
Net if Exercised 1.64% - Monthly 3.17% - Annual 37.41%

SWHC BTO 1000 shares @ 5.11
STO 10 5Aug08 @ .55
Not called 10.22% - Monthly 6.6% - Annual 77.71%
Called/Exercised 8.22% - Monthly 5.3% - Annual 62.5%

JPMs price tic finally broke through its fast MA (7day) so I bought ITM because of concern for earnings announcement on 17 Jul

I bought Smith Wesson (SWHC) because I believe the recent court ruling will result in additional hand gun sales. I do not like to buy stocks for less than $15 but I have made good money on SWHC in the past and it pays good cash as a CC.

New Transactions - APA, COST, AUY, TRA, RIMM, GE, VZ

All the following positions were established today either slightly or more deeply ITM. Therefore, the unexercised return is the same as the exercised return, within fractions of a % since the only difference is the commission on an assigned transaction. The net percentages given include all commissions. The current bear market and only2 weeks left in the CC period both influenced my decision to be conservative.
APA BTO 100 shares @ 143.55
STO 1 135Jul08 @ 10.20
Downside Protection 6.95%
Net if Exercised 1.01% - Monthly 1.89% - Annual 23.0%

COST BTO 200 shares @72.85
STO 2 72.5Jul08 @ 1.85
Downside Protection 2.41%
Net if Exercised 1.91% - Monthly 3.58% - Annual 43.57%

AUY BTO 500 shares @ 16.31
STO 5 15Jul08 @ 1.5
Downside Protection 9.0%
Net if Exercised 0.9% - Monthly 1.74% - Annual 20.53%

TRA BTO 200 shares @ 49.89
STO 2 45Jul08 @ 5.90
Downside Protection 11.62%
Net if Exercised 1.96% - Monthly 3.79% - Annual 44.71%

RIMM BTO 100 shares @ 123.29
STO 1 115Jul08 @10.00
Downside Protection 7.94%
Net if Exercised 1.25% - Monthly 2.42% - Annual 28.51%

GE BTO 500 shares @ 27.20
STO 5 27Jul08 @0.93
Downside Protection 3.27%
Net if Exercised 2.55% - Monthly 4.94% - Annual 58.17%

VZ BTO 300 shares @ 35.78
STO 3 35Jul08 @ 1.13
Downside Protection 2.96%
Net if Exercised 0.72% - Monthly 1.39% - Annual 16.42%

Well the market was up when I opened these transactions. However, I may wish I had moredownside protection after today.

APA, COST, AUY, RIMM Possible buys Tomorrow

My new account is now funded and I am looking at stocks to buy and sell CCs for Jul.
Candiadates are:
APA with CC ITM @135 for good downside.
COST with CC ATM @72.50
AUY with CC ITM @15
RIMM with CC ITM @115

Other possibilities depending on trend of price - need up for verification of up trend in stock price
VZ, GE, WMT, MCD

All will be reviewed to price trend before any action tomorrow.