Wrote Nov 50 Calls On Plum Creek Timber (PCL) Shares

We wrote Nov 50 covered calls (PCLKJ) on our Plum Creek Timber (PCL) shares at $1.70 today. The options are set to expire in less than 6 months and if they get exercised we will realize an overall return of approximately 50%.

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	21.98	3.41	31.73	0.17
Philip Morris International (PM)	1/4/2005	32.19	51.67	5.82	60.50	0.19
Kraft Foods (KFT)	Various	24.03	32.05	3.31	33.35	0.11
Plum Creek Timber (PCL)	5/12/2005	35.5	45.87	7.11	29.20	0.28
Pfizer (PFE)	Various	24.37	19.01	4.91	(21.99)	0.30
ICICI Bank (IBN)	5/18/2006	27.57	34.96	5.42	26.79	0.06
Taiwan Semi (TSM)	7/27/2006	8.71	11.38	5.88	30.78	0.19
Advantage Energy Fund (AAV)	11/2/2006	11.22	12.74	4.28	13.50	0.49
SunTech Power (STP) Call Value	3/14/2007	36.73	40.41	4.18	10.03	None
Central Europe & Russia Fund (CEE)	Various	51.03	57.07	5.90	11.83	1.17
Patni Computers (PTI)	8/10/2007	20.85	12.75	3.29	(38.90)	0.04
Itron Inc. (ITRI)	11/07/2007	85.01	96.45	4.98	13.32	None
Anthracite (AHR)	11/09/2007	7.97	9.55	4.93	19.83	0.74
ClickSoftware (CKSW)	11/09/2007	4.61	2.93	1.51	(36.44)	None
Harvest Energy (HTE)	11/28/2007	21.01	24.70	5.10	17.54	0.79
iRobot (IRBT)	12/18/2007	18.65	13.71	2.83	(25.86)	None
MCG Capital (MCGC)	Various	10.86	5.52	2.28	(49.18)	0.39
LDK Solar (LDK)	01/22/2008	30.49	44.44	6.89	45.74	None
Aegon N.V. (AEG)	04/28/2008	15.99	15.05	4.66	(5.86)	0.28
LM Ericsson (ERIC) (AEG)	05/05/2008	23.65	27.06	5.59	14.40	0.19
TD Ameritrade (AMTD)	05/21/2008	17.68	18.19	3.76	2.86	None
Cash				4.44
Total Portfolio					7.08	5.38

• 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
• For Plum Creek Timber (PCL), we wrote covered calls for 2008 November 50 on 06/03/2008 at $1.70.