Alright, you can officially call me a flip-flopper.  I saw an opportunity yesterday and I took it.  Earlier this year I was averaging about $750 to $850 a month in ETF Covered Calls and I’ve now tweaked and boosted to $1000 to $1300 so far this summer.  The ETF-Cashinator told me to go for the kill so I picked up 800 shares of USO at $52 and sold in-the-money contracts at $1.70 to rake in $1300. This represents 3.2% return in 33 days. With unrest in Nigeria, hurricane season upon us, geo-political unrest in the middle east (Iran/Iraq) and China firing on all billion cylinders, I had to make a little profit off of energy.

With any luck, I’ll get called in July and move on to what the ETF-Cashinator tells me to move on to. No emotion trading here, the ETF-Cashinator crunches the numbers and tells me where to go to make money with my specified targets (1.5% to 3.5% per month). With this last trade, my portfolio is now up 15.2% from December 06 through July 07.