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AUGUST - Option Writer WATCH LIST 8-15-06

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AUGUST 15, 20006 OPTION WRITER
WATCH LIST

STOCK

PRICE

ON WATCH LIST IF:

WATCH LIST PRICE

SID

31.42

below >>

28.00

BRLI

22.04

below >>

21.50

AMAG

31.62

below >>

31.50

GM

30.54

below >>

31.50

CAL

23.11

below >>

25.00

AMR

20.04

below >>

22.00

BOOM

31.34

below >>

31.50

TEN

23.63

below >>

23.00

WATCH LIST COMMENTARY: CHANGES

WATCH LIST: TEN & AMAG come off the WATCH list

TEN - closes above $23.00 and comes off our WATCH LIST with $23.63 close. In addition we have $1.12 of downside going into expiration

AMAG - up to $31.62 and closes above our WATCH LIST price of $31.50 and comes off the WATCH list. This close gives us about $1.62 protection coming down to Friday

WATCH LIST: ACTION

BOOM - almost comes off the WATCH list with $31.34 close which is slightly below WATCH LIST price of $31.50. It gives us $1.34 of wiggle room with 3 days left to expiration.

CAL -Continued easing of oil prices and the good inflation news along with the continued middle cease fire helped CAL get above our short put price, eventhough it remains under our WATCH LIST of $25.00. We have about $0.61 cents of protection.The key will be oil prices for the next few days

AMR - closes up to $20.04,added by the same plus the CAL had today, middle ease and probably more by sliding oil prices. Hoping for a stand here at the $20 price, oil prices will also be the key for this issue heading down the stretch. Of course the stock still is on the WATCH LIST, with oil prices remaining the wild card.

GM- bounces slightly to $30.54 which is still below the $31.50 WATCH LIST Price

and thus remains on the list. However, we do have some room between here and the $27.50 short strike price.

CURRENT ISSUES on WATCH LIST: 8-15-06

BOOM CAL AMR GM

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