Investment Enhancing Systems, Inc. – Covered Call Analyzer

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Note: In all of our lists and portfolios, we have established a get-out price which we exercise when the stock price drops 15%. If this happens during the month, we will get-out and report the sale of the stock and the buy-back of the calls at the next expiration weekend postings.

	Income*	Cost*	Balance
Cash balance from September:			$5,753
400 shares of MATK purchased in May at $23.79 and sell 4 contracts of KQT FF (Jun$30.00) at $0.35 expiring on 6/17/2006. Not called in June. Price at $29.48 and value $11,792 on 6/17/2006. Sell 4 KQT GF (Jul30) at $1.95. Not called in July. Price at $26.21 and value $10,484 on 7/22/2006. Sell 4 KQT HF (Aug30) at $0.30. Not called in August. Price at $28.63 and value $11,452 on 8/19/2006. Sell 4 KQT IF (Sep30) at $1.10. Not called in September. Price at $21.87 and value $8,748 on 9/16/2006. Sell 4 KQT JE (Oct25) at $0.25. Note that we have lowered the strike price to $25.00 since it is still above the initial purchase price. Not called in October. Price at $23.64 and value $9,456 on 10/20/2006. Sell 4 KQT KE (Nov25) at $0.60.	+$224	still own shares	$5,753
700 shares of NLS purchased in July at $13.12 and sell 7 contracts of NLS HC (Aug$15.00) at $0.25 expiring on 8/19/2006. Not called in August. Price at $13.06 and value $9,142 on 8/19/2006. Holding, waiting for a better call price. Price at $13.77 and value $9,637 on 9/16/2006. Sell 7 NLS JC (Oct15) at $0.20. Not called in October. Price at $13.99 and value $9,793 on 10/20/2006. Sell 4 NLS KC (Nov15) at $0.25.	+$157	still own shares	$5,753
600 shares of ATHR purchased in July at $15.78 and sell 6 contracts of QRA HW (Aug$17.50) at $0.75 expiring on 8/19/2006. Not called in August. Price at $17.13 and value $10,278 on 8/19/2006. Sell 6 QRA IW (Sep17.5) at $0.95. Not called in September. Price at $17.49 and value $10,494 on 9/16/2006. Sell 6 C HW J (Oct17.5) at $1.25. Called in October at $17.50. Proceeds $10,480 after commission.			$16,233
500 shares of ATHR purchased in September at $17.49 and sell 5 contracts of QRA JD (Oct$20.00) at $0.45 expiring on 10/21/2006. Called in October at $20.00. Proceeds $9,980 after commission.			$26,213
500 shares of RMBS purchased in September at $18.11 and sell 5 contracts of BNQ JD (Oct$20.00) at $1.10 expiring on 10/21/2006. Not called in October. Price at $16.71 and value $8,355 on 10/20/2006. Sell 4 BNQ KD (Nov20) at $0.35.	+$157	still own shares	$26,213
700 shares of TARO purchased in September at $13.73 and sell 7 contracts of QTT JC (Oct$15.00) at $0.70 expiring on 10/21/2006. Not called in October. Price at $12.50 and value $8,570 on 10/20/2006. Sell 4 QTT KC (Nov15) at $0..25.	+$154	still own shares	$26,213
400 shares of GOLD purchased in September at $20.53 and sell 4 contracts of GUD JX (Oct$22.50) at $0.55 expiring on 10/21/2006. Not called in October. Price at $21.56 and value $8,624 on 10/20/2006. Sell 4 GUD KX (Nov22.5) at $0.80.	+$304	still own shares	$26,213
400 shares of NFLX purchased in September at $22.72 and sell 4 contracts of QNQ JE (Oct$25.00) at $0.50 expiring on 10/21/2006. Not called in October. Price at $22.24 and value $8,896 on 10/20/2006. Sell 4 QNQ KE (Nov25) at $0.50.	+$184	still own shares	$26,213
From Conservative "Stocks-to-Consider" for October 21, 2006
Buy 400 shares of MFLX at $22.47 (closing last trade price) and sell 4 contracts of FUX KF (Nov$30.00) at $0.30 (closing bid price) expiring on 11/18/2006.	+$104	$9,008	$17,205
Buy 600 shares of COGT at $14.71 (closing last trade price) and sell 6 contracts of QAO KW (Nov$17.50) at $0.25 (closing bid price) expiring on 11/18/2006.	+$131	$8,846	$8,359
Buy 400 shares of BCSI at $20.56 (closing last trade price) and sell 4 contracts of IYU KX (Nov$22.50) at $0.65 (closing bid price) expiring on 11/18/2006.	+$244	$8,244	$115

Totals for October:	+$1,659		$115
Portfolio value at October 21, 2006 is $80,967 after $1,649 taken as income .

The stocks listed above are for illustrative and educational purposes only and should not be construed as an endorsement, recommendation, or solicitation to buy or sell any particular security.

Starting in January 2006, Investment Enhancing Systems, Inc. provided this retirement portfolio using the stocks identified in our Conservative "Stocks-to-Consider" list. We started by investing $100,000 in stock buy/writes identified by the Covered Call Analyzer on expiration weekend for January 2006. Since it is a retirement portfolio, we take the premium income each month as income. We reinvest (keep in the portfolio) stock price appreciation to the strike price. Our objective is to maintain and grow the portfolio while maintaining a monthly income of over $2000. Click on the month below to view details of stocks bought and calls sold and when we held the stock or exercised our get-out price. We anticipate good months and poor months, with a general gain at year end. PATIENCE usually wins.