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I was expecting profits of $4000 for December expiry but I came in at $2300 for my aggregate account returns. Overall, for the month of November, I made $4100 which isn’t too shabby. The markets volatility helped tremendously as premiums were high for all the calls I sold.

Now I have to sit and wait until December 21 options expiry to see what kind of action I might get for January 2008. I’ll follow up at the end of the year with a post on my overall returns but as of today, my annual returns for my three accounts; power, mini, arbitrage are 27.43%, 26.88%, and 12.38% (50.12% if annualized) respectively.

This year’s returns almost doubled last years returns (15.87%, 16.14%) fairly comparably but there’s no way that they’ll double again next year. I tend to think that this year might have been a fluke with the market jerking up and down so wildly like a wild bull but I can’t complain because I’m happy with my returns.

I continue to tweak my algorithms and ETF-cashinator to the point where I can now comfortably hope to make at least 1.67% return monthly (20.04% annualized). Of course, a major market melt down can easily wipe out all my gains and I still see a great deal of turmoil in the markets through at least Q1 of 2008 so who knows… I might just sit in cash or invest very conservatively. At the end of the day though, these are all long term investment accounts (except the arbitrage) so it’s no big deal if the markets drop next year.

You can take a sneak peak of the activity over at http://www.etfcoveredcalls.com.