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.