NTGR - New Position

A new position was established today on NTGR. The following is the trade information, including IB commissions:

19-Mar-07 - Initial Stock Position - BTO 100 NTGR @ 27.77
15-Jun-07 - Initial Call Option - STO 1 Jun07 25.00 Call @ 4.09

Stock Investment: $2,777.00
Income Generated: $409.00
Percent Income Generated: 14.73%
Net Profit If Called: $132.00
Percent Return If Called: 4.75%
Annualized Return If Called: 19.72%
Days to Expiration: 88 days

NITE - New Position

A new position was established today on NITE. The following is the trade information, including IB commissions:

19-Mar-07 - Initial Stock Position - BTO 100 NITE @ 15.65
19-Mar-07 - Initial Call Option - STO 1 Jul07 15.00 Call @ 1.94

Stock Investment: $1,565.00
Income Generated: $194.00
Percent Income Generated: 12.40%
Net Profit If Called: $129.00
Percent Return If Called: 8.24%
Annualized Return If Called: 24.46%
Days to Expiration: 123 days

JNPR - New Position

A new position was established today on JNPR. The following is the trade information, including IB commissions:

19-Mar-07 - Initial Stock Position - BTO 100 JNPR @ 18.09
19-Mar-07 - Initial Call Option - STO 1 Jul07 17.00 Call @ 2.34

Stock Investment: $1,809.00
Income Generated: $234.00
Percent Income Generated: 12.94%
Net Profit If Called: $125.00
Percent Return If Called: 6.91%
Annualized Return If Called: 20.50%
Days to Expiration: 123 days

CWTR - New Position

A new position was established today on CWTR. The following is the trade information, including IB commissions:

19-Mar-07 - Initial Stock Position - BTO 100 CWTR @ 17.64
19-Mar-07 - Initial Call Option - STO 1 Jul07 17.50 Call @ 1.84

Stock Investment: $1,764.00
Income Generated: $184.00
Percent Income Generated: 10.37%
Net Profit If Called: $160.00
Percent Return If Called: 9.64%
Annualized Return If Called: 28.60%
Days to Expiration: 123 days

ASF - New Position

A new position was established today on ASF. The following is the trade information, including IB commissions:

19-Mar-07 - Initial Stock Position - BTO 100 ASF @ 36.83
19-Mar-07 - Initial Call Option - STO 1 Jul07 35.00 Call @ 4.29

Stock Investment: $3,683.00
Income Generated: $429.00
Percent Income Generated: 11.65%
Net Profit If Called: $246.00
Percent Return If Called: 6.68%
Annualized Return If Called: 19.82%
Days to Expiration: 123 days

KOMG - Adjustment

The following adjustment was made today on KOMG:

19-Mar-07 - Buy Back - BTC 1 Jun07 45.00 Call @ -0.11 -
19-Mar-07 - Dollar Cost Averaging - BTO 100 KOMG @ 31.64 -
19-Mar-07 - Combined Cost Basis - $8,151.00 200 @ 40.76 -
19-Mar-07 - Continued Trade - STO 2 Jun07 35.00 Call @ 1.30 -

Current Position Summary:

Stock Investment: $8,151.00
Income Generated: $1,878.00
Percent Income Generated: 23.04%
Net Profit If Called: $727.00
Percent Return If Called: 8.92%
Annualized Return If Called: 7.20%
Days to Expiration: 452 days

Trade History:

20-Mar-06 - Initial Stock Position - BTO 100 KOMG @ 49.87 -
20-Mar-06 - Initial Call Option - STO 1 Apr06 45.00 Call @ 5.93 - Expired
24-Apr-06 - Continued Trade - STO 1 Jun06 45.00 Call @ 2.79 - Expired
26-Jun-06 - Continued Trade - STO 1 Dec06 45.00 Call @ 4.89 - Expired
18-Dec-06 - Continued Trade - STO 1 Jun07 45.00 Call @ 2.69 - Closed
19-Mar-07 - Buy Back - BTC 1 Jun07 45.00 Call @ -0.11 -
19-Mar-07 - Dollar Cost Averaging - BTO 100 KOMG @ 31.64 -
19-Mar-07 - Combined Cost Basis - $8,151.00 200 @ 40.76 -
19-Mar-07 - Continued Trade - STO 2 Jun07 35.00 Call @ 1.30 -

NTES - Adjustment

The following adjustment was made today on NTES:

19-Mar-07 - Continued Trade - STO 4 Apr07 20.00 Call @ 0.19 -

Current Position Summary:

Stock Investment: $9,694.00
Income Generated: $3,331.00
Percent Income Generated: 34.36%
Net Profit If Called: $1,637.00
Percent Return If Called: 16.89%
Annualized Return If Called: 15.56%
Days to Expiration: 396 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 - Expired
19-Mar-07 - Continued Trade - STO 4 Apr07 20.00 Call @ 0.19 -

This Months Market Decline

This months market decline had very little effect on my portfolio. No adjustments were necessary, since I have so much downside protection.

Although the benchmark index (VTI) declined 4.55% this month, my CC portfolio had a return on invested capital (actual income generated) of 1.11% and the liquidation value of my portfolio declined by only 1.24%. Even with this market decline, my liquidation value is still up 2.47% YTD, while the benchmark index (VTI) is down -2.32% YTD.

TEX - Closed Position

The TEX Mar07 55.00 Call was exercised and the stock was called away for a profit. The following is the trade history and returns, including IB commissions.

Covered Call Results

Stock Investment: $5,914.00
Income Generated: $610.00
Net Profit: $196.00
Percent Return: 3.31%
Annualized Return: 24.19%
Duration of Trade: 50 days

Buy & Hold Comparison

Opening Price: $59.14
Closing Price: $68.36
P/L per Share: $9.22
Shares: 100
Dividends: $0.00
Net Profit: $922.00
Percent Return: 15.59%
Annualized Return: 113.81%
Duration of Trade: 50 days

Trade History:

25-Jan-07 - Initial Stock Position - BTO 100 TEX @ 59.14 -
25-Jan-07 - Initial Call Option - STO 1 Mar07 55.00 Call @ 6.10 -
16-Mar-07 - Option Exercised - EX 1 Mar07 55.00 Call @ 55.00 -

Another example of a position that would have done better as Buy & Hold.
Still, it met my goal of 24% annualized return.