<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-02-15</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000105532</issuerCik>
        <issuerName>WELLCO ENTERPRISES INC</issuerName>
        <issuerTradingSymbol>WLC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001228520</rptOwnerCik>
            <rptOwnerName>LUTZ DAVID</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P O BOX 188</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WAYNESVILLE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28786</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Former Officer/Director</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>1996 STOCK OPTION PLAN FOR KEY EMPLOYEES</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>1996-11-19</value>
            </exerciseDate>
            <expirationDate>
                <value>2006-11-19</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>1997 STOCK OPTION PLAN FOR KEY EMPLOYEES</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>1997-07-02</value>
            </exerciseDate>
            <expirationDate>
                <value>2007-07-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>1999 STOCK OPTION PLAN FOR KEY EMPLOYEES</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2000-11-14</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-11-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">THIS FORM 4 REPORTS THAT THE REPORTING PERSON IS NO LONGER SUBJECT TO SECTION 16 FORM 4 OR FORM 5 OBLIGATIONS DUE TO HIS
 RESIGNATION ON FEBRUARY 15, 2006 FROM ALL OFFICER POSITIONS AND THE BOARD OF DIRECTORS OF THE ISSUER.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>DAVID LUTZ</signatureName>
        <signatureDate>2006-02-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
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X0202
4
2006-02-15
1
0000105532
WELLCO ENTERPRISES INC
WLC
0001228520
LUTZ DAVID
P O BOX 188
WAYNESVILLE
NC
28786
0
0
0
1
Former Officer/Director
COMMON STOCK
0
D
1996 STOCK OPTION PLAN FOR KEY EMPLOYEES
5
1996-11-19
2006-11-19
COMMON STOCK
15000
15000
D
1997 STOCK OPTION PLAN FOR KEY EMPLOYEES
12
1997-07-02
2007-07-02
COMMON STOCK
20000
20000
D
1999 STOCK OPTION PLAN FOR KEY EMPLOYEES
8
2000-11-14
2010-11-14
COMMON STOCK
10000
10000
D
THIS FORM 4 REPORTS THAT THE REPORTING PERSON IS NO LONGER SUBJECT TO SECTION 16 FORM 4 OR FORM 5 OBLIGATIONS DUE TO HIS
 RESIGNATION ON FEBRUARY 15, 2006 FROM ALL OFFICER POSITIONS AND THE BOARD OF DIRECTORS OF THE ISSUER.
DAVID LUTZ
2006-02-23