The markets have lost some momentum as the issue with Greece is upon us. We saw a decline in the WTI oil prices over the past while by around $8.00 a barrel. There is mention of areas of Canada to be in a recession or close to being in a recession. The prices of stocks have fallen over the last month.
In my two brokerage accounts, I didn't have enough money to warrant buying a long term position. Once money is in my TFSA is is not advantageous to take it out. This is because any individual cannot put that money he or she takes out until the following year.
I decided do buy call options.
On July 14, I purchased 3 call options of TD with Aug 21, 2015 expiration with a $52.00 strike price. The premium paid was $1.20 per contract excluding commissions.
Total Cost with commissions = 3*100*1.20+$12.95
This trade is on the Canadian exchanges.
Disclosure: own 100 shares of TD
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.
individual should do their due diligence to make their own financial
decisions based on their financial situation and tolerance for risk.