ETF Covered Calls

A great deal of exciting happenings in the markets this week.  SMH rocketed past $35 to hover around $37.  If it holds, I’ll get called at $35 and make an additional $750 in profit.  If it drops back down below $35, I’ll sell August calls.  I’m hoping it holds so I can move on to energy ETFs (OIH & XLE).   Meanwhile, my FXI buy-write at $98 is almost certainly to get called as expected and I’ll keep the premiums I’ve earned.
Here is a list of this week’s high yield ETF covered calls.  Remember, the Fed will be meeting of May 9th and my bet is that they will RAISE rates so it may bolster the US Dollar and push gold down.  This may negatively impact the market too so be careful out there!

Nothing good this week for May so what’s hot for June?  FXI/PGJ(China), OIH (Energy), XHB (Home Builders)

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future results.

It has been an interesting week.  Made $1100 with an ETF covered call on OIH and finally made an entry point into energy.  Nothing showing up in May but June looks promising in Gold, Energy, and Housing (eek).

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future results.

Sorry about the day late post. Looks like Gold, Home Builders and Energy is hot. Be careful with home builders, the mortgage lender meltdown would make me nervous with home builders.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future results.

I sold 10 contracts for May 07 $35 Calls on SMH (SMHEG) for $0.70 this morning. This brought in another $700 in addition to the $750 in February and the $850 in December. So far my return from SMH since December 06 has been $850+$750+$700 = $2300. This equates to 6.7% return from December 4 thru April 10th. If called in May, I’ll earn an additional $750 (2.2%) to bring my total return from Dec 06 thru May 07 to 8.9 pct. If I don’t get called, I’ll look at  August Calls.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future results.

I won’t be posting tomorrow so here are the ETF-Cashinator™ picks for this week.  GDX is looking good as gold continues to climb.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future results.