Update Transaction - Tivo (TIVO)

After releasing earnings on May 27 which were better than expected, Tivo fell about 10%. Based on this fact, I chose to close out the call I had sold, purchase a protective put, and sell an out-of the-money LEAP call in order to finance the purchase of the put. The reason I chose to do this was two-fold. An out-of-the-money LEAP call will not move very much with movements in the stock, which allows the stock to appreciate while also allowing me to buy back the call and sell a closer expiration call without paying to much of a premium. Additionally, after finally becoming profitable Tivo has now reverted back to negative earnings and as such I do want to protect my downside further, while still allowing for a rebound in the economy to send the stock higher. The purchase info is below:

4/19/2009 -- Bought 100 TIVO @ 7.48
4/19/2009 -- Sold To Open 1 TIVO June $7.50 Call @ .63
5/28/2009 -- Bought To Close 1 TIVO June $7.50 Call @ .25
5/28/2009 -- Sold To Open 1 TIVO Nov $10 Call @ .35
5/28/2009 -- Bought To Open 1 TIVO June $5 Put @ .2


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $748.00

Maximum Downside Risk: 39%
Downside Coverage From Current Price: None
Possible Max Upside: 43.17%

Annualized Max Upside: 84.71%