Looks like XHB popped today (finally)! I had purchased 400 shares back on 5/27/08 for $19.80 so I just sold September $20 strikes for $1.10 to rake in about $432.00. This represents 6% return in under 40 days. The XHB “well” had been dry for a while but it looks like its starting to gush out cash again. I had purchased another 400 shares at $22.72 on April 10th that I’ll still hold on to but I feel confident about it climbing back up over the next couple of months.
So far, XHB has netted me 18% return despite the ETF being down 14.25% and that’s what ETF Covered Calls is all about.
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