As I was starting to write this note I realized that I have been allowing things, excuses, get in the way of me following through on my journey to financial freedom and my commitment to this blog. I still invest on a monthly basis. However, I have started to become too relaxed, comfortable, with my successes. I have been getting comfortable with earning money from my place of employment, instead of driving myself to financial freedom. I started "Keep Your Mind and Money Moving" with a lot of drive and energy. But, I have found myself getting lazy as I bring home my biweekly paychecks. It's embarrassing how fast I let myself get distracted. But alas, I have let life happen to me once again and have given excuses to myself and others as to why I have not been maintaining my blog.
Instead of wasting time giving you excuses; I will tell you what I have been doing. In November I became the proud owner of 100 shares of MCP for $37/share. Sadly, it is now trading between $30 and $32 a share. I am not sure if this is a correction, or if I made a really bad purchase and bought at a high. Either way I am determined to make lemonade out of lemons. So for December, I sold a $37 Call against my MCP shares and earned $35.03 after fees. It is not much, but it is still more than what I would make if I had that money sitting in a savings account. Along with selling a Call, I also sold a Put with my remaining cash. I decided to invest/speculate in REE, another Rare Earth Metals company. I sold a $9 Put, for a $57 profit.
To sum this message up:
- I have allowed myself to become distracted from writing in this blog.
- I have continued to invest my money on a monthly basis in options
- If all goes well, by the end of next week I will have made $92.03 from my option trading for December.
EJ,
ReplyDeleteLooks like MCP is bouncing back up....what is the expiration for the MCP call? Also, on REE, did you first buy a Put, then sold it back for a 57 profit, or is your put 57 in the money?
Looks like you were right on MCP. It just took a bit longer than you had to offer. Bummer
ReplyDeleteDH