Update Transaction - Mack-Cali Realty (CLI)

After another (becoming somewhat normal) drop in the price of CLI, I decided to buy back my $25 call for one of my positions (out of 4). This is partially due to my continued belief in the strength of this particular REIT, as well as the fact that it will be paying a dividend in the beginning of July that I would like to get. However, I would like to reduce my overall position in CLI as it is a large portion of my total portfolio so I am keeping my other positions covered with 2 $22.50 June calls, and 1 $25 June call. The new profit/loss projections are below:

Various -- Bought 100 CLI @ 22.90
2/23/2009 -- Sold To Open 1 CLI July $25 Call @ 0.4592

3/6/2009 – Bought To Close 1 CLI July $25 Call @ 0.1408

4/1/2009 – CLI Dividend @ .45

4/9/2009 – Sold To Open 1 CLI July $25 Call @ 2.1426

4/24/2009 -- Bought To Close 1 CLI July $25 Call @ 4.9474

4/24/2009 -- Sold To Open 1 CLI June $30 Call @ 1.9325

5/7/2009 -- Bought To Close 1 CLI June $30 Call @ 0.60

5/7/2009 – Sold To Open 1 CLI June $25 Call @ 1.5926

6/11/2009 – Bought To Close 1 CLI June $25 Call @ 0.25

The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $2290.00


Downside Coverage From Current Price (23.30): 2.5%
Possible Max Upside: Unlimited

Annualized Max Upside: Unlimited