NSC - Closed

The Norfolk Southern Corporation (NSC) Dec12 60.00 Call was exercised and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis	$6,000.00
Net Profit	$156.88
Percent Return	2.61%
Annualized Return	16.45%
Days Held to Expiration	58 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
10/24/2012	NSC	CSP Margin Used	CSP 100 NSC @ 60.00		($6,000.00)
10/24/2012	NSC	Initial Put Option	STO 1 Nov12 60.00 Put @ 1.05	Exercised		$104.94
11/16/2012	NSC	CSP Margin Returned	CSP 100 NSC @ -60.00		$6,000.00
11/16/2012	NSC	Stock Assigned	EX 1 Nov12 60.00 Put @ -60.00		($6,000.00)
11/19/2012	NSC	Continued Trade	STO 1 Dec12 60.00 Call @ 0.52	Exercised		$51.94
12/21/2012	NSC	Stock Called	EX 1 Dec12 60.00 Call @ 60.00			$6,000.00
12/21/2012	NSC		Net Cost/Profit-Loss		($6,000.00)	$156.88
DTE	58		Percent Profit-Loss/Annualized		2.61%	16.45%

IWM - Closed

The iShares Russell 2000 Index (IWM) Dec12 78.00 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis	$7,800.00
Net Profit	$36.76
Percent Return	0.47%
Annualized Return	10.12%
Days Held to Expiration	17 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
12/4/2012	IWM	CSP Margin Used	CSP 100 IWM @ 78.00		($7,800.00)
12/4/2012	IWM	Initial Put Option	STO 1 Dec12 78.00 Put @ 0.37	Expired		$36.76
12/21/2012	IWM	CSP Margin Returned	CSP 100 IWM @ -78.00			$7,800.00
12/21/2012	IWM		Net Cost/Profit-Loss		($7,800.00)	$36.76
DTE	17		Percent Profit-Loss/Annualized		0.47%	10.12%

GDX - Closed

The Market Vectors Gold Miners (GDX) Dec12 44.00 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis	$4,400.00
Net Profit	$20.94
Percent Return	0.48%
Annualized Return	17.37%
Days Held to Expiration	10 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
12/11/2012	GDX	CSP Margin Used	CSP 100 GDX @ 44.00		($4,400.00)
12/11/2012	GDX	Initial Put Option	STO 1 Dec12 44.00 Put @ 0.21	Expired		$20.94
12/21/2012	GDX	CSP Margin Returned	CSP 100 GDX @ -44.00			$4,400.00
12/21/2012	GDX		Net Cost/Profit-Loss		($4,400.00)	$20.94
DTE	10		Percent Profit-Loss/Annualized		0.48%	17.37%

EFA - Closed

The iShares MSCI EAFE Index (EFA) Dec12 53.00 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis	$5,300.00
Net Profit	$27.69
Percent Return	0.52%
Annualized Return	11.22%
Days Held to Expiration	17 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
12/4/2012	EFA	CSP Margin Used	CSP 100 EFA @ 53.00		($5,300.00)
12/4/2012	EFA	Initial Put Option	STO 1 Dec12 53.00 Put @ 0.28	Expired		$27.69
12/21/2012	EFA	CSP Margin Returned	CSP 100 EFA @ -53.00			$5,300.00
12/21/2012	EFA		Net Cost/Profit-Loss		($5,300.00)	$27.69
DTE	17		Percent Profit-Loss/Annualized		0.52%	11.22%

EEM - Closed

The iShares MSCI Emerging Markets Index (EEM) Dec12 40.00 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis	$4,000.00
Net Profit	$22.24
Percent Return	0.56%
Annualized Return	11.94%
Days Held to Expiration	17 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
12/4/2012	EEM	CSP Margin Used	CSP 100 EEM @ 40.00		($4,000.00)
12/4/2012	EEM	Initial Put Option	STO 1 Dec12 40.00 Put @ 0.22	Expired		$22.24
12/21/2012	EEM	CSP Margin Returned	CSP 100 EEM @ -40.00			$4,000.00
12/21/2012	EEM		Net Cost/Profit-Loss		($4,000.00)	$22.24
DTE	17		Percent Profit-Loss/Annualized		0.56%	11.94%

COST - Closed

The Costco Wholesale (COST) Dec12 85.50 Put expired and the position was closed. All prices include IB commissions.

This CSP position was initially established at the $92.50 strike but the put strike was adjusted to $85.50 due to a special $7 dividend on 12/06. This lowered my cost basis which increased the percent return.

Position Summary

Cost Basis	$8,550.00
Net Profit	$64.94
Percent Return	0.76%
Annualized Return	11.09%
Days Held to Expiration	25 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
11/26/2012	COST	CSP Margin Used	CSP 100 COST @ 92.50	Adjusted	($9,250.00)
11/26/2012	COST	Initial Put Option	STO 1 Dec12 92.50 Put @ 0.65	Adjusted		$64.94
12/6/2012	COST	CSP Margin Returned	CSP 100 COST @ -92.50		$9,250.00
12/6/2012	COST	Adjusted CSP Margin Used	CSP 100 COST @ 85.50		($8,550.00)
12/6/2012	COST	Adjusted Put Option	STO 1 Dec12 85.50 Put @ 0.00	Expired		$0.00
12/21/2012	COST	CSP Margin Returned	CSP 100 COST @ -85.50			$8,550.00
12/21/2012	COST		Net Cost/Profit-Loss		($8,550.00)	$64.94
DTE	25		Percent Profit-Loss/Annualized		0.76%	11.09%

BTU - Closed

The Peabody Energy (BTU) Dec12 24.00 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis	$2,400.00
Net Profit	$68.24
Percent Return	2.84%
Annualized Return	18.53%
Days Held to Expiration	56 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
10/26/2012	BTU	CSP Margin Used	CSP 100 BTU @ 24.00		($2,400.00)
10/26/2012	BTU	Initial Put Option	STO 1 Dec12 24.00 Put @ 0.68	Expired		$68.24
12/21/2012	BTU	CSP Margin Returned	CSP 100 BTU @ -24.00			$2,400.00
12/21/2012	BTU		Net Cost/Profit-Loss		($2,400.00)	$68.24
DTE	56		Percent Profit-Loss/Annualized		2.84%	18.53%

ALTR - Closed

The Altera Corp (ALTR) Dec12 27.00 Put expired and the position was closed. All prices include IB commissions.

Position Summary

Cost Basis	$2,700.00
Net Profit	$54.94
Percent Return	2.03%
Annualized Return	12.81%
Days Held to Expiration	58 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
10/24/2012	ALTR	CSP Margin Used	CSP 100 ALTR @ 27.00		($2,700.00)
10/24/2012	ALTR	Initial Put Option	STO 1 Dec12 27.00 Put @ 0.55	Expired		$54.94
12/21/2012	ALTR	CSP Margin Returned	CSP 100 ALTR @ -27.00			$2,700.00
12/21/2012	ALTR		Net Cost/Profit-Loss		($2,700.00)	$54.94
DTE	58		Percent Profit-Loss/Annualized		2.03%	12.81%

ARO CC vs CSP - Adjustment

This is an ongoing position in ARO to show that CC's and CSP's are equivalent positions. Today I adjusted both positions by rolling the options out to Jan and up to a higher strike, in order to avoid assignment on the CC position.

Since the original call had $120 of intrinsic value, the difference between what I paid for the stock and the ITM strike I sold ($1320-$1200), which was used to lower the cost basis, I had to add it back when I bought the call back. The new strike price of $12.50, which again is lower than what I paid for the stock, has intrinsic value of $70 ($1320-$1250), which again will be used to lower the cost basis.

When accounting for intrinsic value in this manner, the cost basis of the CC becomes the same as the cost basis of the CSP, which is the strike price, and the extrinsic value represents the true income generated, making it easier for comparison.

Below are the details of both positions. I'll provide ongoing updates as the positions are managed.

CC Position Summary

Aeropostale (ARO). All prices include IB commissions.

Cost Basis	($1,250.00)
Income Generated	$50.40
Percent Income Generated	4.03%
Annualized Income Generated	29.43%
Net Profit If Successful	$50.40
Percent Return If Successful	4.03%
Annualized Return If Successful	29.43%
Days Held to Expiration	50 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
11/29/2012	ARO	Initial Stock Position	BTO 100 ARO @ 13.20		($1,320.00)
11/29/2012	ARO	Initial Call Option	STO 1 Dec12 12.00 Call @ 1.35	Closed	$120.00	$14.52
12/21/2012	ARO	Buy Back	BTC 1 Dec12 12.00 Call @ -1.13		($120.00)	$6.94
12/21/2012	ARO	Roll Out/Up	STO 1 Jan13 12.50 Call @ 0.99		$70.00	$28.94
1/18/2013	ARO		Totals		($1,250.00)	$50.40
DTE	50		Percent Income/Annualized		4.03%	29.43%

CSP Position Summary

Aeropostale (ARO). All prices include IB commissions.

Cost Basis	($1,250.00)
Income Generated	$47.58
Percent Income Generated	3.81%
Annualized Income Generated	27.79%
Net Profit If Successful	$47.58
Percent Return If Successful	3.81%
Annualized Return If Successful	27.79%
Days Held to Expiration	50 days

Trade History

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
11/29/2012	ARO	CSP Margin Used	CSP 100 ARO @ 12.00	Closed	($1,200.00)
11/29/2012	ARO	Initial Put Option	STO 1 Dec12 12.00 Put @ 0.14	Closed		$14.12
12/21/2012	ARO	Buy Back	BTC 1 Dec12 12.00 Put @ -0.05			($5.48)
12/21/2012	ARO	CSP Margin Returned	CSP 100 ARO @ -12.00		$1,200.00
12/21/2012	ARO	CSP Margin Used	CSP 100 ARO @ 12.50		($1,250.00)
12/21/2012	ARO	Roll Out/Up	STO 1 Jan13 12.50 Put @ 0.39			$38.94
1/18/2013	ARO		Totals		($1,250.00)	$47.58
DTE	50		Percent Income/Annualized		3.81%	27.79%

USO - New Position

A new CSP position was established today on United States Oil (USO). All prices include IB commissions.

Date	Stock	Description	Transaction	Status	Stock Investment	Income Generated
12/11/2012	USO	CSP Margin Used	CSP 100 USO @ 30.00		($3,000.00)
12/11/2012	USO	Initial Put Option	STO 1 Dec12 30.00 Put @ 0.13			$13.24

Position Summary

Cost Basis	($3,000.00)
Income Generated	$13.24
Percent Income Generated	0.44%
Annualized Income Generated	16.11%
Net Profit If Closed	$13.24
Percent Return If Closed	0.44%
Annualized Return If Closed	16.11%
Days Held to Expiration	10 days