EMC Corporation (EMC) Covered Calls Exercised And Shares Called Away

The May 16 covered calls (EMCEQ) on our EMC Corporation (EMC) shares we wrote on 04/23/2008 was exercised automatically as the options ended on the money yesterday and our EMC shares were called away.

Below is our updated portfolio:

Stock	Buy Date	Buy Price	Current Price	Current % Of Portfolio	Unrealized % Return	Yield as % of BOY Portfolio Value Plus Deposits
Altria (MO)	Various	16.69	22.45	3.43	34.55	0.17
Philip Morris International (MO)	1/4/2005	32.19	53.38	5.88	65.81	0.19
Kraft Foods (KFT)	Various	24.03	32.51	3.31	35.26	0.11
Plum Creek Timber (PCL)	5/12/2005	35.5	43.58	6.65	22.75	0.26
Pfizer (PFE)	Various	24.37	20.03	5.09	(17.80)	0.32
ICICI Bank (IBN)	5/18/2006	27.57	44.46	6.78	61.24	0.07
Taiwan Semi (TSM)	7/27/2006	8.71	11.70	5.95	34.47	0.19
Advantage Energy Fund (AAV)	11/2/2006	11.22	12.68	4.19	12.97	0.49
SunTech Power (STP) Call Value	3/14/2007	36.73	45	4.58	22.53	None
Central Europe & Russia Fund (CEE)	Various	51.03	59.49	6.05	16.57	1.21
Patni Computers (PTI)	8/10/2007	20.85	13.48	3.43	(35.40)	0.04
Itron Inc. (ITRI)	11/07/2007	85.01	94.39	4.80	10.90	None
Anthracite (AHR)	11/09/2007	7.97	8.96	4.56	12.42	0.70
ClickSoftware (CKSW)	11/09/2007	4.61	3.13	1.59	(32.10)	None
Harvest Energy (HTE)	11/28/2007	21.01	25.55	5.20	21.58	0.82
iRobot (IRBT)	12/18/2007	18.65	13.50	2.75	(26.99)	None
MCG Capital (MCGC)	Various	10.86	6.11	2.49	(43.75)	0.43
LDK Solar (LDK)	01/22/2008	30.49	37.22	5.68	22.06	None
Aegon N.V. (AEG)	04/28/2008	15.99	15.94	4.86	(0.29)	0.29
LM Ericsson (ERIC) (AEG)	05/05/2008	23.65	27.54	5.60	16.42	0.20
Cash				7.58
Total Portfolio					9.21	5.50

• For SunTech Power (STP), we wrote covered calls for 2008 June 45 on 4/1/2008 at $4.30.
• For Taiwan Semi (TSM), we wrote covered calls for 2008 October 12.5 on 4/21/2008 at $0.45.
• For Altria and Philip Morris International, assumed spin-off ratio of 30.83:69.17. Altria is yet to supply the cost-basis info