<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-09-29</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001115091</issuerCik>
        <issuerName>CALLWAVE INC</issuerName>
        <issuerTradingSymbol>CALL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001302164</rptOwnerCik>
            <rptOwnerName>Giannini David A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>136 W. CANON PERDIDO STREET, STE. A</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA BARBARA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>93101</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice President - Engineering</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.50</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2000-04-24</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2010-04-24</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>27000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.67</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2001-04-24</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2011-04-24</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>33000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.50</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-02-10</value>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-02-10</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>12000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.50</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-02-25</value>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-02-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>36000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This option vests and becomes exercisable as to 1/8th shares after six months of grant date of 4/24/00 and as to an additional 1/48th of shares per month thereafter.</footnote>
        <footnote id="F2">This option vests and becomes exercisable as to 1/8th shares after six months of grant date of 4/24/01 and as to an additional 1/48th of shares per month thereafter.</footnote>
        <footnote id="F3">This option vests and becomes exercisable as to 1/8th shares after six months of grant date of 2/10/03 and as to an additional 1/48th of shares per month thereafter.</footnote>
        <footnote id="F4">This option vests and becomes exercisable as to 1/8th shares after six months of grant date of 2/25/04 and as to an additional 1/48th of shares per month thereafter.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ David A. Giannini</signatureName>
        <signatureDate>2004-10-06</signatureDate>
    </ownerSignature>
</ownershipDocument>

