The first month of the year 2014 January is now behind us. It is time for the monthly update. During the month I successfully completed a trade in Sherritt International Corporation for a profit of $88.10 after commission.
On January 24th, I initiated a position in Tim Horton's on the Toronto Stock Exchange. As the dividend yield is low and am trying to write a covered call with a $60.00 Strike price. When writing a covered call, the seller is paid a premium. This is because as the seller, I will obligated to sell my shares at $60.00 if the price rises above $60.00 before or on the expiration date.
The following stocks were DRIPPED.
- Enerplus 2 shares @ $20.35
- Just Energy 6 shares @ $7.76
- Bank of Nova Scotia 0.113637 shares@ 61.5995
The current value of my portfolio is $58198.06. This represents an increase of 5.62 percent.
I will update my investment tab spread sheet.
Disclosure: Long ERF, JE, BNS, and THI.