Verizon
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Started by wxgrant - March 20, 2019, 3:39 p.m.

Trying to get another dividend stock. I sold the 55 strike put last month in Verizon. Bought it back today and sold the 58 strike that expires April 5th. If I can get put the stock that should put me on the books before the record date for the June dividend. With the premium I have collected my price point will be 56.68 per share including commissions. 

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Re: Verizon
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By metmike - March 20, 2019, 11:43 p.m.
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I know nothing about Verizon but when you make posts like this(like with Ford stock) and gets me interested in looking at what you're doing because it's just fascinating and fun.

We very much appreciate you sharing your stock and commodities trades with us Grant!

By metmike - March 20, 2019, 11:50 p.m.
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One of the best traders that I've ever known who used the handle "Barefoot" that posted here and at the coffee forum did nothing but sell coffee futures options for a living.

He had a very successful system that he used for decades and he would be short many hundreds of  contracts of puts/calls at certain times. At other times, he just waited patiently for the right set up.............however long it took.

He would often say "I've  never put the word BUY in front of any order"

By wxgrant - March 21, 2019, 11:34 a.m.
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I usually find the only winning move is to sell a put on a stock I want to own. I am also doing this with ATT and have sold the $31 put. But with the premium I have collected my price point $29.49 per share. The plan is to sell a 30 delta LEAP call, about a year out. That will be even more premium and should allow me to collect dividends for a year. If the price goes up and the stock is taken away, it will still be a winner. If it drops, I am in better shape than if I just bought it straight out. 

By wxgrant - March 26, 2019, 11:22 p.m.
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Well, the price shot up. I bought back the put and made more than waiting for the dividend. I have a week or so to decide if I will buy for the dividend. 

By metmike - March 26, 2019, 11:30 p.m.
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Congrats Grant!

By wxgrant - April 2, 2019, 7:07 p.m.
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I couldn't leave it alone. Sold the 60.50 put last week to try and get put the stock. Based on the price I will probably tomorrow. My cost basis is 58.52 now. I will sell a 62.5 call against the stock that expires close to 300 days. That will lower my cost basis to around 57. Now I hope the quarterly 60 cent dividend is worth it. I did this with Century Link as well and so far so good! 

By metmike - April 3, 2019, 1:34 a.m.
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Thanks for sharing your trades Grant!

By wxgrant - April 4, 2019, 11:01 a.m.
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As expected I was put the stock. My price point is $57.46/share so overall I am happy. I sold a long call against the stock this morning. 

By metmike - April 4, 2019, 3:02 p.m.
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Thanks