December 12, 2010

Finding Time - No More Excuses

With the holidays and work as they are, I am having difficulty finding time to write in my blog........excuses.

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.
My future goals for this blog are to continue to write about my monthly investment endeavors, and to finish writing about how I completed the goals outlined in the book "Your Money or Your Life". 

2 comments:

  1. EJ,

    Looks 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?

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  2. Looks like you were right on MCP. It just took a bit longer than you had to offer. Bummer
    DH

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