NTES - Adjustment

The following adjustment was made today on NTES:

17-Jan-07 - Buy Back & Roll Out/Up - BTC 4 Jan07 18.75 Call @ -0.41 -
17-Jan-07 - Continued Trade - STO 4 Mar07 20.00 Call @ 0.99 -

The Jan07 18.75 Call was ITM and had very little time value left so I bought it back and rolled out to Mar07 and up to the 20.00 strike to avoid assignment. If assigned in Jan the annualized return would have been 10.20%. By rolling out 2 months and up to a higher strike the potential annualized return is now 16.27%. Notice also that I have over 33% income generated during the holding period, which has been reinvested into other positions.

Current Position Summary:

Stock Investment: $9,694.00
Income Generated: $3,254.00
Percent Income Generated: 33.57%
Net Profit If Called: $1,560.00
Percent Return If Called: 16.09%
Annualized Return If Called: 16.27%
Days to Expiration: 361 days

Trade History:

20-Mar-06 - Initial Stock Position - BTO 100 NTES @ 96.94 - 4-1 Split
20-Mar-06 - Initial Call Option - STO 1 Jun06 85.00 Call @ 15.29 - 4-1 Split
28-Mar-06 - Split Stock Position - SPLT 400 NTES @ 24.24 -
28-Mar-06 - Split Call Option - SPLT 4 Jun06 21.25 Call @ 3.82 - Expired
26-Jun-06 - Continued Trade - STO 4 Jan07 22.50 Call @ 3.19 - Closed
23-Oct-06 - Buy Back & Roll Out/Down - BTC 4 Jan07 22.50 Call @ -0.16 -
23-Oct-06 - Continued Trade - STO 4 Jan07 18.75 Call @ 0.69 - Closed
17-Jan-07 - Buy Back & Roll Out/Up - BTC 4 Jan07 18.75 Call @ -0.41 -
17-Jan-07 - Continued Trade - STO 4 Mar07 20.00 Call @ 0.99 -