Wednesday, July 6, 2011


No surprise - my Verizon stock, which I dearly love, was called away the day before ex-Dividend date (today). Since I mark all my stocks ex-d and pay dates for my recordkeeping, I saw it coming but decided to let it go, as we are coming into the JASON period of the market (June through November)which not only gets a bit hairy, but I go on vacation a lot during Sept./Oct.
Since I am Bullish on year-end (as everyone else is !), I might just sell an Oct. 36 put ( stock at $37.40) to get an annualized 11% on the put and take the stock on at $36 if it falls to that, or below. That would actually be the same return as if I had rolled the Call to Oct. for $.50 extrinsic plus $.5 dividend today.
Return for the past 6 months on VZ was not that exciting, at 7.63% annualized,since it was held to full term. Bought 200 shares at $7523, got $196 in two dividends and $623 from the calls sold in January.
I'll be discussing the first 6 months' results and new tweaks (selling puts, capturing annual dividends versus quarterly) at the SFBAOG meeting on July 16 monthly expiry meeting at Fort Mason.

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