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WATCH LIST - SEPTEMBER - Option Writer 9-14-06

HAVING TROUBLE PRINTING?
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WATCH LIST COMMENTARY: KKD and IIG go on WATCH LIST

KKD - Finally closed under $8.00, but with 1 day remaining
we still have nearly $0.40 or almost 5% of protection going into Friday

IIG - closes barely under $13.50 at $13.42 ,to go on WATCH
list, but with $1.42 protection, we should be okay
unless something totally unthinkable happens tomorrow.

Even with KKD and IIG on the WATCH LIST, we have one (1) day
until expiration and neither of these issues has dropped in one day
as much as they are out of the money going into Friday.

Every other position is in great shape!

Current Issues on the WATCH LIST as of: 9/14/2006

KKD
IIG


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