NTES - Closed

The NTES Aug08 25.00 call was exercised on Fri and the stock was called away for
a profit. The following is the trade history and returns, including IB
commissions.

This is an example of a stock, held for about 2.5 years, where the stock price
was essentially unchanged. Yet again, through selling covered calls, I was able
to make a profit of over 43% or almost 18% annualized.

Covered Call Results

Stock Investment: $9,694.00
Income Generated: $3,877.00
Percent Income Generated: 39.99%
Annualized Income Generated: 16.61%
Net Profit If Called: $4,183.00
Percent Return If Called: 43.15%
Annualized Return If Called: 17.92%
Days Held to Expiration: 879 days

Buy & Hold Comparison

Opening Price: $24.22
Closing Price: $25.43
P/L per Share: $1.19
Shares: 100
Dividends: $0.00
Net Profit: $119.00
Percent Return: 4.91%
Annualized Return: 2.04%
Duration of Trade: 879 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 - Interim Trade - STO 4 Apr07 20.00 Call @ 0.19 - Expired
23-Apr-07 - Interim Trade - STO 4 May07 20.00 Call @ 0.19 - Expired
21-May-07 - Interim Trade - STO 4 Jun07 20.00 Call @ 0.34 - Expired
19-Jun-07 - Interim Trade - STO 4 Sep07 20.00 Call @ 0.32 - Expired
24-Sep-07 - Continued Trade - STO 4 Dec07 20.00 Call @ 0.67 - Expired
24-Jan-08 - Continued Trade - STO 4 Mar08 20.00 Call @ 0.74 - Expired
25-Mar-08 - Continued Trade - STO 4 May08 20.00 Call @ 0.48 - Closed
29-Apr-08 - Buy Back & Roll Out/Up - BTC 4 May08 20.00 Call @ -2.52 -
29-Apr-08 - Continued Trade - STO 4 Jun08 25.00 Call @ 0.68 - Expired
07-Jul-08 - Continued Trade - STO 4 Aug08 25.00 Call @ 0.44 - Exercised
16-Aug-08 - Option Exercised - EX 4 Aug08 25.00 Call @ 25.00 -