Closing Transaction - Direxion 3x Small Cap Bear (TZA)

I have decided to close the short put position in TZA. In addition to this, I no longer plan to utilize any short etf strategies in my covered call portfolio. If I feel that the market is in the mood for a drop, I will simply sell deeper ITM options. The profit/loss info is below:

12/8/2009 -- Sold To Open 1 TZA January $10 Put @ 0.4824
12/29/2009 -- Bought To Close 1 TZA January $10 Put @ 0.9075

The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Cost Basis: N/A

Potential Gain If Not Assigned At Expiration: -4.47%

Potential Annualized Gain If Not Assigned At Expiration: -81.51%

Dividend Payment - Discover Financial Services (DFS)

Dividend Update. The profit/loss info is below:

12/23/2009 -- Bought 100 DFS @ 14.81
12/23/2009 -- Sold To Open 1 DFS January $15 Call @ 0.45
12/29/2009 -- Dividend @ 0.02


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $1436.00
Commissions (Included In Cost): $0
Current Cost Average: $14.34

Possible Max Upside: 3.90%

Annualized Max Upside: 59.31%

Initial Transaction - Verizon (VZ)

This is a second position in Verizon to take advantage of an upcoming ex-dividend date. The new profit/loss info is below:

12/24/2009 -- Bought 100 VZ @ 33.3599
12/24/2009 -- Sold To Open 1 VZ April $32 Call @ 1.81


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $3154.99
Commissions (Included In Cost): $5


Downside Coverage (from current price of $33.3599): 5.43%

Potential Annualized Gain If Called At First Ex-Div. Date (1/7/2010): 38.57%

Potential Annualized Gain If Called At Second Ex-Div. Date (4/7/2010): 10.29%

Potential Annualized Gain If Called At Expiration (4/17/2010): 14.21%

Initial Transaction - Discover Financial Services (DFS)

This is a new position being established in Discover Financial Services, a credit card company. It also currently yields about 0.5%. The profit/loss info is below:

12/23/2009 -- Bought 100 DFS @ 14.81
12/23/2009 -- Sold To Open 1 DFS January $15 Call @ 0.45


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $1436.00
Commissions (Included In Cost): $0

Downside Coverage (from current price of $14.81): 3.03%

Possible Max Upside: 3.60%

Annualized Max Upside: 54.75%

Initial Transaction - The Buckle (BKE)

This is a new position being established in The Buckle, a retailer which focuses on denim apparel. It also currently yields about 2.73%. The profit/loss info is below:

12/23/2009 -- Bought 100 BKE @ 29.41
12/23/2009 -- Sold To Open 1 BKE January $30 Call @ 0.75


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $2866.00
Commissions (Included In Cost): $5

Downside Coverage (from current price of $29.41): 2.55%

Possible Max Upside: 4.13%

Annualized Max Upside: 62.86%

Initial Transaction - Suncor Energy (SU)

This is a new position being established in Suncor Energy, a Canadian company which focuses on developing the Athabasca oil sands. It also currently yields about 1%. The profit/loss info is below:

12/22/2009 -- Bought 100 SU @ 33.92
12/22/2009 -- Sold To Open 1 SU January $34 Call @ 1.0924


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $3282.76
Commissions (Included In Cost): $0.76

Downside Coverage (from current price of $33.92): 3.2%

Possible Max Upside: 3.15%

Annualized Max Upside: 46.05%

Update Transaction - Marathon Oil (MRO)

This is a new position being established in Marathon Oil, an integrated oil/gas company which currently yields a bit higher than 3%. The profit/loss info is below:

11/30/2009 -- Bought 100 MRO @ 32.64
11/30/2009 -- Sold To Open 1 MRO December $33 Call @ 0.71
12/18/2009 -- Call Expired
12/21/2009 -- Sold To Open 1 MRO January $33 Call @ 0.15


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $3193.00
Commissions (Included In Cost): $10
Current Cost Average: $31.78

Possible Max Upside: 3.66%

Annualized Max Upside: 28.46%