Cognitive Radio(CR) is the technology that allocates the frequency by using dynamic spectrum access. We proposed a model to calculate the optimal level of the cognitive radiotelegraph, where secondary users opportunistically share the spectrum with primary users through the spectrum sensing. When secondary user with cognitive radio detects the arrival of a primary user in its current channel, the secondary user moves to the idle channel or be placed in the virtual queue. We assume that the primary users have finite buffers and the population of secondary users is finite. Using a two-dimensional Makov model with preemptive priority queueing, we could derive the blocking and waiting probability as well as the optimal level of cognitive radiotelegraph under a various range of parameter circumstances.