I got the sketch. It seems pretty straightforward and complete. What more is included in the Blueprint? Why should I buy it?

The Blueprint does more than just pick up where The Sketch leaves off… for example, all you see in The Sketch is the first part of the SWN trade.

Well, after that first covered call… I ended up doing Income Method #6. IM#6 is designed so that if your stock goes up, down, or sideways, you make money.

On 3/25/08, I COULD have made another $2.76 by selling calls at the $70 strike. But selling calls is limited. I call that tired old strategy “Plain Vanilla”. Instead of selling a covered call, I used Income Method #6 to BULLETPROOF the stock and take $1.25 income… setting up a situation in which I received a $75 long call for FREE.

When SWN kept going up, I sold an $80 call against THAT call for $2.50. There was no risk in this trade because my short $80 call was “covered” by the free $75 long call.

When SWN closed in May above $80, the Bull Call Spread formed above (long $75/short$80) closed IN the money… and I collected another $5.00 credit.

The total return was $1200.53 after commissions, or 16.23% based on the initial amount invested of $7395. That’s good but the thing I should emphasize is that the risk was never more than 5.34%… AND that the bulk of the money made in this setup was made AFTER it was “Bulletproof”… no risk at all left in the position, though there were opportunities to milk it for more dollars.

So, instead of using “Plain Vanilla” covered calls for lukewarm returns ($2.76 plus being obligated to sell at $70) against a stock in which I’m holding all the risk of a slide…

I used Income Method #6 and management techniques described in The Blueprint to collect SUPER premiums (IM#6 brings in $1.25 + $2.50 later and $5.00 more = $8.75) on a stock that had NO risk. I had already collected enough from doing the adjustments to the trade to cancel all the whopping 5.34% risk I had… but continued to place trades after that to enhance the return.

“Bulletproofing” is what makes The Blueprint a unique book. There are a number of Income Methods, adjustments to your original position, that work differently for different purposes, different people, in different markets. You need to see it.

Income Method #1 is no great shakes… it’s selling a covered call against a protected stock.

Use IM#2 to KEEP that stock AND collect more if it goes up.

IM#3 manipulates the put option to make your stock BULLETPROOF before an expected event… I’ve made piles of cash trading PCLN and RIMM just before earnings announcements with this one. Oh! And though it generates a credit, there is no “covered call” limiting how high your stock can go.

IM#4 leaves the upside open… again, no calls sold… but it’s bulletproof and you can hold for longer than with IM#3.

Like where a stock is going? Think it’ll go higher, or trade in a certain range? Then use Income Method #5 to set up a spread trade that captures MORE of the upside, but does so at a CREDIT. Interesting? I call it the Money Net. It’s in The Blueprint with examples.

That’s five of the Income Methods… and there are a total of ten… so I’d say that there’s a bit there worth seeing.

Thanks for saying that The Sketch was straightforward and complete of itself. You can expect that kind of writing in The Blueprint as well, but with greater detail about the whys and wherefores of the setups plus all TEN Income Methods.

This is an idea whose time has come. The first Blueprint came out in early 2003, after I had traded it for a long time with my own money. Since then I’ve had more than a few copycats. The idea of buying long term put options to protect stocks and selling calls against is no longer revolutionary, though some folks like to say so. A watered down version of The Blueprint is now peddled by numbers of copycats, from stateside lawyers and covered call seminar dropouts to father and son teams in the U.K…

…but NO ONE offers the added experience of the lessons I’ve learned trading this limited risk, high potential form of trading with real money for years… and updating The Blueprint every time I test and prove a new Income Method or tweak an old one to perform better.

Every lesson I’ve learned and think valuable has gone into The Blueprint. It’s the product of years of blood, sweat, tears… and yes, wagered dollars.

SO! Ask for a glass of milk and get a cow, eh? Thanks for asking what you get for the $289. It’s fairly priced, I think, and I have pages of testimonials and thank-you letters that persuade me to keep improving it.