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Trade recommendations closed for January 2007 expiration.

1. SPY Double Diagonal initiated on 31 Oct 2006

31 Oct: Initiate position for $0.10 debit
5 Dec: Roll recommendation for $0.45 credit
18 Dec: Close position for $0.05 debit

P&L: +$25 per position
Percentage P&L: 25/210 = 11.9%

2. IWM Double Diagonal initiated on 22 Nov 2006

22 Nov: Initiate position for $0.05 credit
14 Dec: Roll recommendation for $0.75 credit
8 Jan: Close position for $0.40 debit

P&L: +$40 per position
Percentage P&L: 40/195 = 20.51%

3. SPY Double Diagonal initiated on 22 Nov 2006

22 Nov: Initiate position for $0.05 debit
15 Dec: Roll recommendation for $0.80 credit
12 Jan: Close position for $0.15 debit

P&L: +$60 per position

Percentage P&L: 60/205 = 29.27%

4. SPX Iron Condor initiated on 7 Dec 2006

7 Dec : Initiate position for $1.20 credit
12 Jan: Close position for $0.20 debit

P&L: +$100 per position

Percentage P&L: 100/380 = 26.23%

5. IWM Iron Condor initiated on 18 Dec 2006

18 Dec : Initiate position for $0.85 credit
3 Jan: Close position for $0.60 debit

P&L: +$25 per position

Percentage P&L: 25/115 = 21.74%

6. DIA Iron Condor initiated on 19 Dec 2006

19 Dec : Initiate position for $0.85 credit
10 Jan: Close position for $0.50 debit

P&L: +$35 per position

Percentage P&L: 35/115 = 30.43%

Comment

What a great start we have for the new year! All our positions for January were profitable. Even if you were to enter only 1 trade per recommendation, you would have made $285 using a total margin of $1220. That is a return of 23.36%. We look forward to having a great year ahead.

Yours sincerely,

Gary

Founder, Head Trader of MarketNeutralOptions