FTEK - Adjustment

The FTEK May08 22.50 Call was ITM so the following adjustment was made today to avoid possible assignment:

29-Apr-08 - Buy Back & Roll Out/Up - BTC 1 May08 22.50 Call @ -3.91 -
29-Apr-08 - Continued Trade - STO 1 Jun08 30.00 Call @ 0.69 -

This traded resulted in a net debit of $3.22/share. I normally try to roll out for a net credit, which would have meant going out farther in time and possibly buying additional shares. However, since this is a non-dividend paying position I didn't want to add more funds to the position or go out too far in time. So I decided to roll out/up to the Jun08 30.00 Call, which was the first OTM strike available that was above my original cost basis.

Current Position Summary:

Stock Investment: $2,839.00
Income Generated: $159.00
Percent Income Generated: 5.60%
Annualized Income Generated: 5.57%
Net Profit If Called: $320.00
Percent Return If Called: 11.27%
Annualized Return If Called: 11.21%
Days Held to Expiration: 367 days

Trade History:

19-Jun-07 - Initial Stock Position - BTO 100 FTEK @ 28.39 -
19-Jun-07 - Initial Call Option - STO 1 Dec07 30.00 Call @ 3.29 - Expired
07-Jan-08 - Continued Trade - STO 1 Feb08 25.00 Call @ 0.34 - Expired
21-Feb-08 - Interim Trade - STO 1 Mar08 22.50 Call @ 0.44 - Expired
25-Mar-08 - Interim Trade - STO 1 May08 22.50 Call @ 0.74 - Closed
29-Apr-08 - Buy Back & Roll Out/Up - BTC 1 May08 22.50 Call @ -3.91 -
29-Apr-08 - Continued Trade - STO 1 Jun08 30.00 Call @ 0.69 -