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Additional Option Writer JUNE 2007 recommendations 5-23-07

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We are adding the following two (2) put writes to our JUNE recommended list

We are recommending put writes in the following issues.

GIVN - Given Imaging, Ltd. engages in the development, manufacture, and marketing of diagnostic products for the visualization and detection of disorders of the gastrointestinal tract. Its principal product is the Given System, a wireless imaging system that uses disposable video capsules. The Given System comprises three principal components: the PillCam video capsule, a disposable, miniature video camera contained in a capsule, which is ingested by the patient; a portable data recorder and array of sensors that are worn by the patient; and a computer workstation with proprietary RAPID software for downloading, processing, and analyzing recorded data

ELN - Elan Corporation, plc operates as a neuroscience-based biotechnology company primarily in Ireland and the United States. It operates through two segments, Biopharmaceuticals and Elan Drug Technologies. The Biopharmaceuticals segment engages in the research, development, and commercialization of therapies in the areas of autoimmune diseases and neurodegenerative diseases.

We are recommending the following specific put writes

GIVN 27.07
SELL JUNE 25 PUT = QPG-RE
Target Price $30.00
Potential Profit(10 x = $300.00

Initial Margin $5,714 10 (contracts)
Return on Investment 5.25%
Cost Basis in Stock = $24.70
Days to Expiration = 23
Stock goes on Watch List Price at: $26.00
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $25.00

ELN $19.10
SELL JUNE 17.50 PUT = ELN-RW
Target Price $25.00
Potential Profit(10 x = $250.00

Initial Margin $4,070 10 (contracts)
Return on Investment 6.14%
Cost Basis in Stock = $17.25
Days to Expiration = 23
Stock goes on Watch List Price at: $18.50
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $17.50

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