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CALAMOS STRATEGIC TOTAL RETURN FUND Director's Dealing 2007

Dec 12, 2007

31357_dirs_2007-12-12_c032eb95-2111-47a5-9abb-4ea9ed4485d9.zip

Director's Dealing

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SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: CALAMOS STRATEGIC TOTAL RETURN FUND (CSQ)
CIK: 0001275214
Period of Report: 2007-10-31

Reporting Person: CALAMOS JOHN P SR (Director, president and chairman)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	97010.82	Indirect
Common	45800	Indirect

Footnotes

F1: Includes 7,283.581 shares acquired between November 2006 and October 2007 under the Calamos Strategic Total Return Fund dividend reinvestment plan.

F2: The reporting person is managing member of the limited liability company that owns the reported securities. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.