ETF Covered Calls

Slim pickin’s for June but July is bountiful.  Check out GDX, FXI, XLE, OIH and others.  With gas above $3/gallon, energy has been a good play for me since I’m now heavily embedded in OIH but I can’t complain.  I’ve made $3000 over the past couple of weeks with OIH.

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.

Bought 200 shares of OIH at $170 and sold 2 Jun 07 $170 Calls for $5. Pocketed $1000.00 in cash today. This represents 2.9% return in under 30 days! If OIH drops, I’ll look to sell July, September or October calls.

My portfolio’s return from Dec 06 through Jun 07 will be around 12 pct.

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 picked up 300 shares of GDX at $39 and sold June 07 $39 strike calls for $1.15 to pick up $345 in cash in my Mini-Account. This represents 2.9 pct return for 27 days out to options expiry. The Fed meets on June 28/29 so I’m not concerned about the fed sending gold swinging up/down during this period.

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’s been a great week as I’ve had all my options exercised.  I made $750 today with my May $35 strikes called as SMH is hovering at $37.13.  Over all I made 9% since December selling near the money calls on SMH and the profits wouldn’t last forever.  I’m glad I finally got called though as I plan on focusing on Energy ETFs this summer.

Here are this week’s high yield ETF Covered Calls for June and July as of May 18th 2007…. China (FXI), Gold (GDX) and Oil (OIH) are hot!  Watch out with China, that ETF has been red hot and is probably due for another correction over the summer!

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.

Next Friday is Options Expiry. I hope the market holds so I can liquidate all my shares via exercises. You’ve heard the expression, Sell in May and Go Away! Well, I’m not going away but I am going to focus on Energy this summer. I have a feeling it will perform exceptionally well this year. If everything holds, I’ll make an additional $750 next week on my SMH holdings and be called away and sit in cash. My FXI mini-trade will likely get called as well and I’ll bank those profits.

What’s hot for June? FXI, XHB, EWZ and GDX. With the Fed holding rates steady, GDX might be a prudent play but you never know!

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.

A lot of action in China, Energy and Gold.  Keep an eye of the Fed as they meet next week and could put a damper on the markets recent jump.

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.