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INITIAL MAY 2007 PUT WRITE RECOMMENDATIONS 4-15-07

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We are starting off our MAY recommended list with the following (3) positions

We are recommending put write positions in the following issues.

CONN - Conns Inc is a specialty retailer currently operating retail locations in Texas and Louisiana. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products.

BSM - BSD Medical Corporation develops, manufactures, markets and services systems to treat cancer and benign diseases using heat therapy as provided by focused radio frequency and microwave energy. It also develops cancer therapy systems that employ precision-guided RF/microwave energy to deliver therapeutic heat into tumors to kill cancer cells and make radiation and/or chemotherapy more effective

NAK - Northern Dynasty owns the rights to purchase 100% of the Pebble gold-copper-molybdenum porphyry deposit, where successful drilling programs have delineated an Inferred Mineral Resource. Northern Dynasty is the largest gold deposit and one of the largest copper deposits in North America.

We are recommending the following specific put writes:

CONN 27.02
SELL MAY 25 PUT = UOK-QE
Target Price $55.00

Potential Profit(10 x = $550.00
Initial Margin $5,954 10 (contracts)
Return on Investment 9.24%
Cost Basis in Stock = $24.45
Days to Expiration = 32
Stock goes on Watch List Price at: $26.00
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $25.00

BSM $8.20
SELL MAY 7.50 PUT = BSM-QU
Target Price $35.00
Potential Profit(10 x = $350.00
Initial Margin $1,990 10 (contracts)
Return on Investment 17.59%
Cost Basis in Stock = $7.15
Days to Expiration = 32
Stock goes on Watch List Price at: $7.75
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $7.50

NAK $11.42
SELL MAY 10.00 PUT = NAK-QB
Target Price $20.00
Potential Profit(10 x = $200.00
Initial Margin $2,484 10 (contracts)
Return on Investment 8.05%
Cost Basis in Stock = $9.80
Days to Expiration = 32
Stock goes on Watch List Price at: $10.75
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $10.00

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