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Next Friday will be the last options expiry for the 2006 year and so far my Power Funds account is up 14% and my mini funds account is up 13% for the year. I may write either December 06 or January 07 calls sometime next week to try to reach my goal of 20% return for the year but I probably won’t reach my goal unless something spectacular happens in the market. I’ll likely squeeze another 1% or 2% return to bring my annual returns to 15% and 14% respectively.

Overall I’m happy with the results. My Mini Funds account didn’t begin trading until late March so I missed out on a whole quarter of potential returns. My Power Funds account got bogged down with a bad trade that is just now almost fully recovered and I won’t be repeating that mistake again.

From this point forward, I’ll be sticking to high yield ETF covered calls and I’ll be publishing my activities and findings over at http://www.etfcoveredcalls.com. My goal for 2007 is 20% return. Happy Hunting.