I hope everyone enjoyed this weeks book review. I’ll try to do another one in six months time after I read some additional books that have been recommended by readers and other bloggers.

Getting back to Exchange Traded Funds Covered Call transaction, I ran a report to see where the “action” was heading into October 2006. As of Friday, I came up with the following opportunities:
October2006Options.gif
GDX and the 35 Strike (GDXJI symbol) is currently selling at $1.40 which (if bought late today or opening on Monday) at $34.85 and sold the 35 strike October options could return 4% return (sans commissions) on investment in less than 30 days! Do that 12 times a year and you’re looking at 48% return!

Gold, however, has been experiencing quite some volatility so it ultimately depends on where you think gold and gold mining companies will be heading in the future.

FXI (China 25 ETF) comes in returning 2.11% which isn’t too shabby but the price might leave you with some stick shock since FXI is trading at $80.70. This too has been volatile so be careful!