Retirement Income

Stocks and Options

December 30th, 2007 at 11:26 pm

Dec 07 Freeport-McMoRan Copper & Gold Inc. - FCX

This is a much better story than my last couple of posts.  One Dec07 105 call, 2 Dec07 75 puts and 1 Dec07 80 put all expired in various accounts.  I kept all $700 of the premiums which were sold in Nov07.

I like FCX because it pays a decent dividend (they just raised it) and sometimes pays special dividends.  The option premium is also quite good.  It fits into my investing goals so I am happy to own this stock.

I sold 1 FCX Jan08 115 call for $133.25 into an IRA account.  I could have realized more if I had sold the 110 calls but I think it might run up past that.  I would like to continue to own and milk this one for awhile yet.  I own the stock at 92.80 after being assigned it at 100 in Nov and selling the Dec 105 which expired and the current Jan 08 115.

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