WMT - Adjustment

The following adjustment was made today on WMT:

24-Oct-07 - Buy Back & Roll Down - BTC 2 Dec07 52.50 Call @ -0.11
24-Oct-07 - Interim Trade - STO 2 Dec07 47.50 Call @ 0.49

Current Position Summary:

Stock Investment: $10,045.00
Income Generated: $339.70
Percent Income Generated: 3.38%
Annualized Income Generated: 5.10%
Net Profit If Called: -$205.30
Percent Return If Called: -2.04%
Annualized Return If Called: -3.08%
Days to Expiration: 242 days

Trade History:

23-Apr-07 - Initial Stock Position - BTO 100 WMT @ 49.26 - VICC
23-Apr-07 - Continued Trade - STO 1 May07 52.50 Call @ 0.10 - Expired
21-May-07 - Interim Trade - STO 1 Jun07 47.50 Call @ 0.59 - Closed
04-Jun-07 - Buy Back & Roll Out/Up - BTC 1 Jun07 47.50 Call @ -3.81 -
04-Jun-07 - Dollar Cost Averaging - BTO 100 WMT @ 51.19 -
04-Jun-07 - Combined Cost Basis - $10,045.00 200 @ 50.23 -
04-Jun-07 - Continued Trade - STO 2 Dec07 52.50 Call @ 2.54 - Closed
24-Oct-07 - Buy Back & Roll Down - BTC 2 Dec07 52.50 Call @ -0.11
24-Oct-07 - Interim Trade - STO 2 Dec07 47.50 Call @ 0.49

Note that as a VICC position the primary objective is capital appreciation. The stock will be held long term until it reaches or surpasses it's fair value. Front month OTM call options are sold to bring in a small amount of income while waiting for the stock to appreciate. The calls are sold far enough OTM to avoid assignment and the need to make any mid-month adjustments.