I've been wanting to try some options trading for awhile, but have not gotten around to doing it until now. I just finished entering my first covered call.

This is something of a big step for me. I've been "in the market" since about August 2006, and semi-actively trading for about two years. A little while ago, my step-father told me about his regular use of covered calls to generate income and bring down the cost basis of his investments, and I thought it sounded like a neat idea.

I got an e-mail today from ShareBuilder. Awhile back I had opened a number of accounts to take advantage of some free-money deals, but they each required purchasing a stock. Since ShareBuilder's real-time trade fees are relatively high compared to some other brokers, I have simply left my purchases where they were, earning small dividends appreciating – and then depreciating. (Yes, the stocks are actually worth less now, even with reinvested dividends, than they were when I bought them – good thing I bought them with free money.)

I have been meaning to start education savings plans for my two daughters now for some time. I have approximately $2,000 saved up for one and $1,300 for the other, just sitting in a high-yield bank account earning interest.

I hate Jim Cramer. Mostly, because he's a socialist, but also because – no, actually, that's pretty much it.

Here are five articles illustrating why he's dumb.

During the month of October, Zecco is offering unlimited free trades with no minimum balance requirement. This is a great deal, since normally they require $2,500 minimum account balance for only 10 free trades each month.

If the Bear Stearns schmooze-fest, the takeover of Fannie Mae and Freedie Mac, and the proposed $700 billion bailout of financial institutions haven't made you feel all giddy inside, then perhaps this will. Starting today, a number of East Coast states are selling the right to emit carbon.

Howdy all!

It's been awhile since I've blogged, and I apologize. Hopefully nobody's been anguishing about my lack of posts, and you've all taken some time to catch up on other financial matters that need attending to.

Is anyone but me sick and tired of hearing Warren Buffett give his opinion about how much other people can pay in taxes? Not everybody has gajillions of dollars, and even if they did, that's no reason for the government to take half of it (or more!) when you die.

His latest comments are being propagated by MarketWatch:

A progressive and meaningful estate tax is needed to curb the movement of a democracy toward plutocracy.

According to a story at Market Watch, Clear Indexes LLC is giving some college students a opportunity to design a new ETF. In addition to bragging rights and the euphoria of designing a successful product, the winner will receive $4,000.

Today I experienced my first stock split: Simulations Plus (SLP). I figured I'd write up some of its effects on me and my finances for anyone who wants to know what it's like from a newby perspective.