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SIRF UP SHARPLY - TAKEN OFF MONITORED WATCH LIST

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SIRF back on the good side of the ledger

Recently we put two (2) issues on our WATCH LIST.

These were issues that we are monitoring extra carefully because they have moved within a price where we might need to act to close out a position and take a loss or potentially make an adjustment to modify the position by rolling out to a higher or lower strike price, or out in time to a higher or lower strike price.

The two (2) issues that were being monitored on our WATCH LIST were

SIRF and ASPM.

SIRF - REMOVED FROM our Watch LIST TODAY

SIRF recently move up very sharply to $25.00 plus a share, as SiRF Technology was chosen by Garmmin as supplier on some of Garmmin's new devices.

GARMMIN entered into an agreement to incorporate SiRF architecture into a range of Garmin devices. Under the terms of the agreement, Garmmin will integrate SiRF's SiRFstarIII architecture on selected Garmmin units.

Because of this favorable action with Garmmin and the favorable movement of the SIRF stock, we are removing SIRF from our monitored stocks WATCH LIST and SIRF is now put back with our current positive positions for the September expiration.

ASPM - ONLY POSITION REMAINING ON CURRENT WATCH LIST

This leaves only ASPM as the only position being monitored for potential action at this time.

ASPM - Improved, but still being monitored on remains on the current WATCH LIST

Today's action has put ASPM slightly back on the positive side of the ledger, ever so slightly. The positive move above $30 and close at $30.36,which is just what the doctor ordered. However, we will still be watching this stock closely to see if any future action is warranted. ASPM is still a hold and looking a lot better at the close on 8-31-05.

However, we will still be keeping this one under close observation and informing you of any change that may be necessary.



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