[nitromicro]

Oddly, I cannot read you reply.
Larrypnitro@gmail.com

[nitromicro]

This reply has been marked as private.

[nitromicro]

No worries, since I’ve joined fullyinformed, I’ve done 87 trades on WFC. I own 400 shares and current cost base is now down to $23.9957. The higher price options in My PUT ladder after the most recent earnings had to be rolled last Friday, still looking good.

Larry

[nitromicro]

Thanks. I’m in a similar situation with At&T (Only I hold significantly more shares). I have greater confidence in AT&T than Verizon.

I comfortable to hold these shares as once the Time Warner deal is approved, the stock should rally.

[nitromicro]

April 21st, STO 5x VZ May 12 $47 Put option @.45
April 21st, STO 10x VZ May 12 $46.5 Put Option @.40
May 1st, STO 10x VZ May 12 $46 Put Option @.50
May 3rd, BTC 5x VZ May 12 $47 Put Option @1.23
May 3rd, STO 4x VZ July 21 $46 Put Option $1.60
May 12th, BTC 10x VZ May 12 $46.5 Put Option @.49
May 12th, STO 4x VZ July 21 $46 Put Option $1.42
May 12th Assigned 1000 VZ $46
May 15th SOLD 1000 VZ $45.85 (NET $0.35 Profit)
May 15th STO 6x VZ May 26 $45.5 Put Option $0.33

Sitting at $1100 up in cash with obligations to buy 600 shares next week at $45.50 and 800 in July @$46.00 not a bad rolldown considering I was at 25 PUTs between $46 and $47.

[nitromicro]

Well, the positive is that these are dividend paying stocks. So you can sell and just take the loss, hold and collect the dividend and then sell or simply hold if you believe in the stock.

I only do theses “tricks” on stocks I don’t mind owning.
INTC, MET, BMO all worked great. GSK not so much.

With many years of practice we will perhaps trade with the skill of a TEddi. I’ve only been doing casual investing in stocks since the late 90s, Teddi still has 20 years more practise than me.

[nitromicro]

So, I could not get a decent fill on the covered calls, I tried the $40 May 16th both $2.25 at the open and $2.10 later in the day. I also tried the Mar 26th $39.50 for $2.55. I couldn’t get filled. I simply sold the shares to for $41.86. A small $100 profit. Sometimes theses don’t always work out.

[nitromicro]

OK, today I bought 1,000 shares of GlaxoSmith Kline (GSK) for $41.76. It goes ex-dividend Wednesday May 10th for $0.483. I’ll put a covered call on it tomorrow assuming it gets a rise tomorrow. I hope to get $2.25 for a May 19th $40 Covered Call. If the shares rise tomorrow, I might get it, if not I’ll be prepared to drop it down to $2.10, if I can’t get a fill by midday.

[nitromicro]

I closed them yesterday for .04.

[nitromicro]

My 2 cents.

I’m prevented from selling naked calls.

So I buy the shares on dips 2 days prior to ex dividend and sell the Call the day before ex divvie date. I find the share tend to rise the day prior as people rush in to capture the dividend. Not 100%, but then again nothing is.

Larry

[nitromicro]

Closed all Calls today and sold all the shares at 52.55.

Sweet, sweet profits.

[nitromicro]

From my experience, if it goes ex-dividend on Monday (meaning it trades sans dividend) at market open at 9:30am EST. I’ve seen my shares called as late as Monday 8:34am. I guess it depends on your broker. I’ve also had shares disappear the Saturday and/or Sunday. No way of knowing for sure, I’m afraid.

[nitromicro]

I do the Smith manoeuvre via a HELOC. The Home equity rate is higher, but I like being able to pay it down at will. I pay it down with trading profits, it gives comfort to my wife that way and a happy mate means I’m a happy hubby.

Happy days,

Larry

[nitromicro]

No shares were called. Dividend + call premium = $1465.00 USD.
Awesome ROI.

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[nitromicro]

As at 8:47am, I’ve had 800 share called, still got 200. I’m fine with that (if they are still there at market open).

[nitromicro]

Hi LGmn,

I closed the call side on the short lived rally that Att had post earnings. Made 2x. I’d close the PUTs now for a profit if I had bought any, which I didn’t. (I had sold PUTs at $40 and $39.50). I just sold some more at $39. Due to the high divvie I’m expecting a snap back to the 200 day moving average. The divvie is almost 5%, 4.96% to be exact.

[nitromicro]

Actually, the governments and regulators are causing this. The regulators are responsible for Home Capitals woes as they have announced an investigation into two year old dealings with bad brokers (they weren’t properly disclosed).

The government is creating a downturn by announcing taxes on property purchases made by foreigners and in my province, imposing rent controls on newly built rental condos and apartments.

Living the dream in a socialist paradise.
Join me comrade?

[nitromicro]

The dip in the Canadian banks seems to be an overreaction to the overreaction on Home Capital finance woes. The borrowers are still paying their mortgages (which is different than what happened in the US). Home Capital had a poor structure where investors could get high interest on deposits AND withdraw funds at will.

No doubt, the market in Vancouver was overheated and Toronto still is. Will people walk away from their houses/condos and hand back the keys, I don’t think so. However I’m sure some speculators with high leverage will get burnt.

Perhaps we will see another leg down for the big banks then a slow recovery once the media fascination with Home Capital dies down?

[nitromicro]

I got my 5/12 fill at 0.30 (current bid ask is .23/.28)

[nitromicro]

I tried too late to sell Intc 5/12 PUTs at 35.5 for .30
The offer is still open.

[nitromicro]

Expecting a spring back?

I’ve sold $47 and $46.50 PUTs.

[nitromicro]

Yes, that’s ice still in the lake, but we’re laying by the pool. We Canadians are hardy.

[nitromicro]

I sold my IT firm in 2012, I was presenting presenting on the process of selling your business. The event was attended by about 100 owners of IT services firms. It’s called the Channelnext event.

P.S. Thanks for all that you do. That CAT trade worked out so well. Happy to speak at Teddifest someday.

[nitromicro]

Nice profit and a great quote. My dad was a factory worker and mom worked part time in a high school cafeteria. Didn’t come from money.
Today I’m at a resort north of Montreal. Speaking at an event. All expenses paid.

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[nitromicro]

My covered CALL YUM 04/21/17 65 YUM BRANDS INC Expired, my 63 PUTs expired. I still hold some shares. interesting stock, but CMG taught me to not hold food retailers too long.

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