On Friday, the stock showed a little strength and this was enough to push the value of the option upwards. My limit order (Sell to Close) was filled at $1.25 per contract.
Initial Investment : 2 contracts *$0.85/contract*100 shares +$11.95
Proceeds of Sale = 2*1.25*100-$11.95
ROI = Profit/Initial Investment
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This trade was in my TFSA, so I pay no taxes ever on this profit.
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.
Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.