Thank you, and all the best to you as well.

In answer to your questions:

The dividend for BGG will be paid on 01/02/08 (the “payable date”) to all owners of the stock on record as of 12/03/07 (the “record date”). Rather than take profits in my shares of BGG by selling them outright prior to 12/03, I instead sold in-the-money calls against them – in effect locking in the profit while still remaining a shareholder on record as of the record date, and eligible to receive the dividend. (It isn’t uncommon for me to receive dividend payouts from stocks I no longer own a week or two after they’ve been called away.)

My smaller-than-normal position in ABK is due entirely to the uncertainties and risks associated with that stock and sector. This is reflected in the option volatility, which is currently well over 100%. So even though I sold fewer puts, there was still plenty of premium to be had.

I’m currently positioned to take advantage of both up and/or down moves in the market, so I’m just waiting opportunistically to see which way it goes. Also I’m focusing mostly on individual stocks and not worrying too much about the overall market, which right now is definitely a bit of a mixed picture. If I can sell puts on good dividend-paying stocks that are trading at “bargain” prices, I know that the odds of coming out ahead, sooner or later, are likely to be in my favor, regardless of what the market may do in the next few weeks or months.

Thanks again for your interest.

Congradulations on another good month.. Nice way to end the year.

Comments..
First, a very Happy and Healthy New Year to you and your family. May this new year bring you good fortune, wisdom and wealth.

Question if I may.. On your “called away options”, you indicate that you are still intitled to the option of the stock ? Is that correct ? (never had a stock called that still paid a div after it was called).

On your ABK Put sale, via your less then normal options writes, are you more concern or cautious now on the future direction or just on ABK ?

I’m somewhat concern overall, but have to say the markets could be consolidating for a nice run up ..

Thank you for past year posts and hopefully continued interest to share your trading..

Best Regards,
F.S.