Initial Transaction - AT&T (T)

Over the last few months, 200 shares of AT&T have been purchased, to establish a covered call position, the transactions to date are as follows:


Various Dates Initial Stock Purchase -- Bought 100 T @ 25.125
2/21/2009 Additional Stock Purchased -- Bought T @ 23
2/25/2009 Initial Calls Sold -- Sold 1 T March $24 Call @ .895
2/27/2009 Additional Calls Sold -- Sold 1 T April $20 Call @ 3.95
3/6/2009 Bought To Close 1 T March $24 Call @ .3874

The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $4,812.50
Cost-Averaged Share Purchase Price: $24.06

Downside Coverage: 9.26%
Possible Max Upside: 3.03% (based on sale of the 100 shares which are still covered)

A new covered call will be sold on the 100 shares which are no longer covered, when the stock recovers slightly. This call will most likely be out of the money, due to the current depressed share price.