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Option Writer APRIL 2007 recommendations 3-25-07

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We are recommending the following four (4) put writes to our APRIL recommended list.


We are recommending put writes in the following issues:

GM - General Motors Corp. designs, manufactures, and markets automotive vehicles. General Motors also has substantial interests in digital communications, financial and insurance services, locomotives, and heavy-duty automatic transmissions.

GRA - W. R. Grace & Co. produces specialty chemicals. They primarily operate through the following two business segments: Davison Chemicals and Performance Chemicals. Davison Chemicals manufactures catalysts (fluid cracking, hydroprocessing and polyolein) and silica and zeolite absorbents. Performance Chemicals produces specialty construction and building materials, along with container and closure sealants

IOC - Interoil Corp is a vertically integrated energy company whose primary focus is Papua New Guinea and the surrounding region. Its assets comprise an oil refinery, upstream petroleum exploration licenses, and retail and commercial distribution assets

PRKR - ParkerVision, Inc. operates two segments - the Video Products Division and the Wireless Technology Division. The Video Division is engaged in the design, development and marketing of automated video camera control systems, marketed under the tradename CameraMan and automated production systems, marketed under the tradename PVTV Studio.


We are recommending the following specific put writes

GM 31.99
SELL APR 30 PUT = GM-PF
Target Price $45.00
Potential Profit(10 x = $450.00

Initial Margin $6,848 10 (contracts)
Return on Investment 6.57%
Cost Basis in Stock = $29.55
Days to Expiration = 28
Stock goes on Watch List Price at: $31.00
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $30.00


GRA $24.38
SELL APR 22.50 PUT = GRA-PX
Target Price $40.00
Potential Profit(10 x = $400.00

Initial Margin $5,276 10 (contracts)
Return on Investment 7.58%
Cost Basis in Stock = $22.10
Days to Expiration = 28
Stock goes on Watch List Price at: $23.50
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $22.50


IOC $26.65
SELL APR 22.50 PUT = IOC-PX
Target Price $65.00
Potential Profit(10 x = $650.00

Initial Margin $5,980 10 (contracts)
Return on Investment 10.87%
Cost Basis in Stock = $21.85
Days to Expiration = 28
Stock goes on Watch List Price at: $24.50
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $22.50

PRKR $13.30
SELL APR 12.5 PUT = QER-PV
Target Price $55.00
Potential Profit(10 x = $550.00

Initial Margin $3,210 10 (contracts)
Return on Investment 17.13%
Cost Basis in Stock = $11.95
Days to Expiration = 28
Stock goes on Watch List Price at: $13.00
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $12.50

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