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Covered Call Writing With Exchange Traded Funds (ETFs): Double-Digit Returns, Diversification, Downside Protection Plastic Comb – July 1, 2009


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Covered Call Writing With Exchange Traded Funds (ETFs): Double-Digit Returns, Diversification, Downside Protection + Put Option Writing Demystified: Earn Double-Digit Cash Returns While Waiting to Buy Stocks at a Discount + Covered Call Writing Demystified: Double-Digit Returns on Stocks in a Slower Growth Market for the Conservative Investor
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Product Details

  • Plastic Comb: 194 pages
  • Publisher: Arrow Publications (July 1, 2009)
  • Language: English
  • ISBN-10: 0971551421
  • ISBN-13: 978-0971551428
  • Product Dimensions: 8.4 x 5.9 x 0.6 inches
  • Shipping Weight: 10.4 ounces (View shipping rates and policies)
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (16 customer reviews)
  • Amazon Best Sellers Rank: #1,132,599 in Books (See Top 100 in Books)

Editorial Reviews

From the Author

I have successfully used the strategy of covered call option writing personally for almost twenty years. During that time, I have continually looked for books on the subject. I have never yet found one book that both (1) is totally dedicated to providing an education to the investor exclusively on covered call writing, and (2) provides a program for use by the investor to implement a covered call writing strategy. Virtually all of the books on the subject cover the broad spectrum of option investing, including ultra speculative uses as well as conservative ones. In addition, the authors I have encountered seem to feel it is necessary to impress the reader with their knowledge by making the subject matter virtually unintelligible.

I wrote "COVERED CALL WRITING WITH EXCHANGE TRADED FUNDS (ETFs)" as well as "COVERED CALL WRITING DEMYSTIFIED" (for use in covered call writing with individual common stocks) because there are no other books like them on the market. All levels of investors who have a basic understanding of the stock market and Exchange Traded Funds can also readily understand them. They have everything an investor needs to actually implement a personal program of covered call writing on ETFs or individual stocks owned or acquired in the future. Excel templates for PC use are included with the books. These are templates I’ve developed and used personally to make quality call option writing decisions and to keep accurate records of performance. Manual worksheets are also included so that investors who don’t use a computer can fully implement the program.

About the Author

As a thirty-year career banker and trust officer for Norwest Corporation, now Wells Fargo & Co., one of the nation's largest financial institutions, Paul D. Kadavy was president of numerous banks in three states. He also headed a multi-billion dollar trust department, managed a team of investment professionals, and was a trusted advisor to many of the banks' individual clients. He also subsequently served as president and chief executive officer for another banking enterprise in Las Vegas, Nevada. He is now retired from banking and is a writer, teacher and public speaker.

Kadavy has served on the faculty of the National Graduate Trust School at Northwestern University, The Schools of Banking, Inc., the American Institute of Banking and numerous community colleges in several states. He has been a lecturer on trust, investment and banking subjects to FDIC and Federal Reserve Bank examiners in Washington, D.C. He has been a public speaker for the past twenty-five years.

In addition to authoring Covered Call Writing with Exchange Traded Funds (ETFs) , Kadavy has also written Covered Call Writing Demystified, Put Option Writing Demystified, Covered Call Writing with Qs and Diamonds, Writing Uncovered Put and Call Combinations, Short Spider Straddles, Put and Call Option Writing for the Investment Advisor and Financial Planner, Personal Cash Flow and Net Worth Planning Demystified and The Book of World-Class Quotations: The Best of the Best Quotations on Earth. All of his books are available on Amazon.com.

In addition to writing books, he is the author of banking, trust and investment articles for such national publications as Financial Review, Trusts & Estates, Pension World, The Collector/Investor, Cases & Comment and American Bankers Association Trust Management.

He has developed and successfully used the principles in his books for over twenty-five years.


More About the Author

As a thirty-year career banker and trust officer for Norwest Corporation, now Wells Fargo & Co., one of the nation's largest financial institutions, Paul D. Kadavy was president of numerous banks in three states. He also headed a multi-billion dollar trust department, managed a team of investment professionals, and was a trusted advisor to many of the banks' individual clients. He also subsequently served as president and chief executive officer for another banking enterprise in Las Vegas, Nevada. Now retired from banking, he is a writer, teacher and public speaker.

Kadavy has served as a faculty member of the National Graduate Trust School at Northwestern University, The Schools of Banking, Inc., the American Institute of Banking and numerous community colleges in several states. He was a lecturer on trust, investment and banking subjects to FDIC and Federal Reserve Bank examiners in Washington, D.C. He has been a public speaker for the past twenty-five years.

He has written many banking, trust and investment articles for such national publications as "Financial Review," "Trusts & Estates," "Pension World," "The Collector/Investor," "Cases & Comment" and "American Bankers Association Trust Management."

Kadavy is the author of many financial and other books including "Covered Call Writing Demystified," "Covered Call Writing with Exchange Traded Funds (ETFs)," "Covered Call Writing with Qs and Diamonds," "Put Option Writing Demystified," "Writing Uncovered Put and Call Combinations," "Short Spider Straddles," "Put and Call Option Writing for the Investment Advisor and Financial Planner," "Personal Cash Flow and Net Worth Planning Demystified" and "The Book of World-Class Quotations: The Best of the Best Quotations on Earth." His books are available on Amazon.com.

Kadavy has completed his first novel and is currently working on a second novel, both of which he plans to publish around the end of the year.

Customer Reviews

Using ETF's gives you a broad diversification which mitigates risk in the equities market.
Bill Stevenson
I'd highly recommend this book to anyone, but particularly smaller investors who can't get broad divesification through individual stock ownership.
Victoria Gorman
If you know the answer to that question already, or are willing to google it, then you time is better served finding another book on strategy.
Michael P. Quinn

Most Helpful Customer Reviews

14 of 14 people found the following review helpful By Marty Karman on December 1, 2002
Format: Plastic Comb
The use of Exchange Traded Funds is rapidly replacing mutual funds as the investment of choice for stock investors. Yet, even so, with the long-term prospect of stock prices growing much more slowly than in the past, new ideas are needed to achieve acceptable returns. "Covered Call Writing With Exchange Traded Funds (ETFs)" offers a turnkey solution for double-digit investment results. Its "how to" program provides what in my view is an optimum situation...diversification through the use of ETFs and increased returns through covered call writing. Since covered call writing can't be done on mutual funds, ETFs are becoming the logical choice for investors because of this and for many other reasons described in the book. The ability to write covered calls on ETFs just adds frosting to the cake. As investors experience only slow growth in their stock portfolios over the coming years, as I believe they will, this book, and a similar book for individual stocks, "Covered Call Writing Demystified," should find a growing audience.
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19 of 21 people found the following review helpful By "jobruckner" on August 12, 2003
Format: Plastic Comb
This book was written for investors that are new to covered call writing and want the diversification they can get from ETFs. I just wanted to throw my two cents worth in, because the reviewer who said the book wasn't of any value because he's an expert call writer obviously missed the point. The description of the book clearly states that it is for those of us who are new to this. Didn't he bother to take time to read the book description? I might agree that if you are really an "expert" at this already, you probably don't need this book. But a real expert would have read the book description to see if it made any sense for him to buy it. All I can say is that I'm very glad I bought two of Kadavy's books about covered call writing (also bought "Covered Call Writing Demystified"). For those of us who bought all of the wrong stocks during the bubble and watched them go down, the combination of buying diversified ETFs and writing covered calls on them should be good for solid returns way into the future. This book will tell you what it is all about and how to do it too in a way that you can understand and work for yourself without some broker churning your account.
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15 of 16 people found the following review helpful By Victoria Gorman on March 29, 2003
Format: Plastic Comb
I am new to covered call writing, but have found this book to be my solution to the stock market doldrums. I liquidated my poorly performing mutual funds and have purchased ETFs with the help of the information provided in this book. I then started writing covered calls on them. So far my results easily substantiate the book's claim that double-digit returns are there to be had using this strategy. For the first time in several years I have some hope of recovering my losses.
A real side benefit for me is that the income I get from covered call writing is tax free. I'm using my past mutual fund losses to offset the nice gains I'm realizing from writing covered calls!
I'd highly recommend this book to anyone, but particularly smaller investors who can't get broad divesification through individual stock ownership. The strategy is also excellent for those who have losses. As in my case, you should be able to use those past losses to offset the gains from your call writing so that no taxes have to be paid.
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9 of 9 people found the following review helpful By Bill Stevenson on November 26, 2002
Format: Plastic Comb
"Covered Call Writing with Exchange Traded Funds" is an excellent book to help you get started using covered call writing as an investment strategy. It is easy to read, straightforward, and comprehensive. The book provides all the information necessary to utilize your capital to earn higher returns than the current martket otherwise provides. The program Mr. Kadavy describes has the multiple advantages of providing downside protection in a flat or declining market like we have experienced in 2001 & 2002, while still giving you the potential to earn double digit returns. I have been writing covered calls for about 8 months and it has been more sucessful than anything else I have done in the stock market in the last 5 years. Using ETF's gives you a broad diversification which mitigates risk in the equities market. The decision to invest in the stock market is one each of us must make for ourselves. But if you decide to be in the market, covered call writing, done properly, reduces risk and increases returns. Mr Kadavy's book prepares you to do it right.
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8 of 8 people found the following review helpful By Howard W. Tribble on November 3, 2008
Format: Plastic Comb
I was disappointed in this book as it is drafted toward a market entry-level reader who may be interested in learning the basics of Exchange Traded Funds and the benefits of trading Covered Call Options against those positions to create a steady stream of income. Profitable, yet simple strategy. Extremely basic information; however it is a good buy for the price for the novice trader.
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10 of 11 people found the following review helpful By U.B. Kiddin on May 9, 2006
Format: Plastic Comb Verified Purchase
Very good book for people new to writing covered calls. I learned alot from the book and have put the theory into practice by writing several CC's. Unfortunately I have not found many good CC opportunities around ETFs, most have been in the 1.5-2% range one to two months out. On the other hand I found many exceptionally good opportunties on regular stocks. My only major problems so far (and it's a good one to have) is that in 4/5 cases, the stocks for which I wrote CC's have gone well beyond the strike prices. In response I have "rolled up" a few CC's to take advantage of the increased capital appreciation opportunity. This has worked fairly well but is far more complex than just letting the CC ride until expiration. My only suggestions to improve this book would be to add a section on guidelines for rolling up and down in response to stock price swings, and maybe something on writing ITM CC's instead of just OTM calls. Overall an excellent and concise book, certainly one of the most immediately useful and practical investment books that I own. Very nice job.
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