I know they cut their dividend and the stock is way down however, I bought 100 shares to get the $0.25 quarterly dividend. I also sold the May 30 delta call against it to lower my price point. Right now I have a price point of $11.58 per share.
Thanks for sharing that Grant!
I noticed that Ford held strong support around 8.3 and is putting in a wedge/triangle(with the bottom starting at lows of just over 2 months ago) with an upside break out above $9(there and just below has been very strong resistance recently).
Go to 6 months on the chart at the link below to see that formation.........or even the 1 year chart:
Ford's U.S. sales decreased between 4.4% and 6.4% in February which were both worse than forecasted metrics.
Despite the year-over-year volume drop, Ford is selling the right sales mix as the F-Series outsold its nearest competitor by the widest margin ever in Q4 2018.
This mix is driving top-line growth as fourth-quarter 2019 showed a quarterly revenue increase of 1% up to $41.8 billion from the same quarter in 2018.
While cash is expected to tighten due to restructuring costs, management is committed to the dividend and the changes will better position the company for the long term.
I have been in and out of Ford. Once the put made 50% I would buy it back. The sell when it drops. Buy it back after 50%. I sold another $9 put in Ford yesterday but my price point now if I get put the stock will be around $7 per share.
Wow, Grant, you are a day trader(me too even though my more successful years were always from position trading......holding the position for at least several days)
Well, I got lucky as well with Ford. It has been moving. I have sold four $9 puts and bought three of them back. I might just let this one go because I like my price point and can sell a call 6 months out if put the stock and likely collect two quarterly dividends.