Options Estimation Model for 2006 - Including Broker and Subscription Fees

Number of Closed Trades in 2006 =

51

51

51

51

1.0

Trades per week

Number of contracts per trade  =

1

2

5

10

Avg. Premium Cost per trade =

$405.10

$810.20

$2,025.49

$4,050.98

Total Premiums =

$20,660

$41,320

$103,300

$206,600

Avg % Profit per Trade X Total Premiums =

-$360.36

-$720.72

-$1,801.80

-$3,603.60

-1.7%

Average profit per trade

Broker Commission (Etrade) =

-$1,146.48

-$1,273.98

-$1,656.48

-$2,293.98

Subscription Cost to date =

-$480.00

-$480.00

-$480.00

-$480.00

Average Profit After Expenses =

-$1,986.84

-$2,474.70

-$3,938.28

-$6,377.58

6.2

 Average hold time in days

12/30/05

12/30/06

% Chg

DOW

10717.5

12,463.15

16.29%

NASDAQ

2205.32

2,415.29

9.52%

S&P500

1248.29

1,418.30

13.62%

Russell 2K

673.22

787.66

17.00%

NYSE

7753.95

9139.02

17.86%

Average

14.86%

Stock

Buy Date

Buy Price

Sell Date

Sell Price

P/L(%)

Option

CEPH

1/3

$5.70

1/6

$8.20

43.9%

CQEEM MAY 65.00 CALL

CEPH

1/9

$5.90

1/13

$8.60

45.8%

CQEEN MAY 70.00 CALL

AU

1/17

$4.80

1/18

$3.60

-25.0%

AUDK APR 55.00 CALL

NEM

1/23

3.30

1/26

4.00

21.2%

NEMCA MAR 57.50 CALL

OIH

1/30

11.80

2/2

8.00

-32.2%

OIHDK APR 155.00 CALL

DO

2/8

9.00

2/10

8.00

-11.1%

DOFP JUN 80.00 CALL

BRCM

2/15

5.30

2/16

5.80

9.4%

RCQEN MAY 70.00 CALL

GENZ

2/21

3.30

2/22

2.55

-22.7%

GZQPN APR 70.00 PUT

SJM

2/28

1.75

3/1

1.45

-17.1%

SJMSH JUL 40.00 PUT

TOL

3/4

3.90

3/8

4.90

25.6%

TOLRG JUN 35.00 PUT

PCU

3/14

6.70

3/16

6.90

3.0%

PCUFP JUN 80.00 CALL

KOMG

3/21

5.80

3/21

4.50

-22.4%

QKXFJ JUN 50.00 CALL

PAAS

3/27

2.90

3/28

2.35

-19.0%

USPEE MAY 25.00 CALL

HOV

4/6

4.20

4/12

4.70

11.9%

HOVTI AUG 45.00 PUT

NUE

4/13

8.50

4/17

9.80

15.3%

NUEGB JUL 110.00 CALL

OS

4/18

7.50

4/20

6.60

-12.0%

OSIJ SEP 50.00 CALL

PAAS

4/28

2.50

5/2

2.20

-12.0%

USPGE JUL 25.00 CALL

VLO

5/1

4.60

5/3

3.90

-15.2%

VLOFM JUN 65.00 CALL

AL

5/8

5.20

5/12

5.40

3.8%

ALIK SEP 55.00 CALL

UNH

5/18

3.50

5/23

4.30

22.9%

UHBUI SEP 45.00 PUT

WIRE

5/23

5.20

5/24

4.00

-23.1%

EJOHH AUG 40.00 CALL

HOV

6/2

4.00

6/7

5.30

32.5%

HOVTG AUG 35.00 PUT

RYL

6/6

3.40

6/8

4.20

23.5%

RYLSI JUL 45.00 PUT

PCAR

6/15

1.00

6/20

1.25

25.0%

PAQHQ AUG 85.00 CALL

KLAC

6/23

1.75

6/26

1.40

-20.0%

KCQUU SEP 37.50 PUT

MXIM

6/27

0.95

6/29

0.75

-21.1%

XIQTF AUG 30.00 PUT

MTH

7/5

2.90

7/11

3.50

20.7%

MTHUI SEP 45.00 PUT

PFCB

7/11

2.55

7/13

3.10

21.6%

HUOVG OCT 35.00 PUT

OII

7/18

1.95

7/28

1.30

-33.3%

OIIJJ OCT 50.00 CALL

OSI

8/1

0.75

8/15

0.60

-20.0%

NOV 25.00 P OSIWE.X

HET

8/15

3.70

8/15

2.65

-28.4%

NOV 60.00 P HETWL.X

QCOM

8/1

1.45

8/19

1.30

-10.3%

OCT 32.50 P AAOVZ.X

PNRA

8/23

1.40

8/28

1.55

10.7%

NOV 45.00 P UPAWI.X

STN

8/21

3.50

8/28

4.40

25.7%

OCT 60.00 P STNVL.X

MTG

8/27

2.50

9/8

1.75

-30.0%

MTGXK DEC 55.00 PUT

VTS

9/3

6.00

9/11

3.90

-35.0%

VTSAM JAN 65.00 CALL

GVA

9/10

4.10

9/14

3.40

-17.1%

GVALK DEC 55.00 CALL

VLO

9/19

3.40

9/21

4.50

32.4%

VLOMJ JAN 50.00 PUT

BTU

9/25

3.90

9/25

2.95

-24.4%

BTUWG NOV 35.00 PUT

ASF

10/9

1.95

10/12

1.85

-5.1%

ASFMF JAN 30.00 PUT

INFY

10/9

4.90

10/13

6.50

32.7%

IUNAW JAN 47.50 CALL

NYX

10/22

4.50

10/26

3.50

-22.2%

NYXLO DEC 75.00 CALL

AAPL

10/19

6.00

10/27

7.20

20.0%

QAAAP JAN 80.00 CALL

AAPL

10/19

6.50

11/1

5.80

-10.8%

QAAAP JAN 80.00 CALL

RTI

11/6

4.00

11/10

4.10

2.5%

RTILM DEC 65.00 CALL

AIG

11/12

2.05

11/14

2.40

17.1%

AIGAN JAN 70.00 CALL

IFF

11/19

3.20

11/27

3.50

9.4%

IFFBI FEB 45.00 CALL

ANN

11/27

2.05

11/28

2.05

0.0%

ANNMG JAN 35.00 PUT

TOL

12/4

0.20

12/5

0.25

Strangle

TOLLG DEC 35.00 CALL

TOL

12/4

0.40

12/5

0.10

-25.0%

TOLXF DEC 30.00 PUT

NYX

12/11

9.40

12/13

7.20

-23.4%

NYXAS JAN 95.00 CALL

ORCL

12/18

0.40

12/12

0.10

Strangle

ORQAT JAN 19.00 CALL

ORCL

12/18

0.50

12/21

0.60

-27.5%

ORQMW JAN 17.50 PUT