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Non-Tech : The Critical Investing Workshop
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To: Uncle Frank who wrote ()3/22/2000 12:13:00 AM
From: abuelita   of 35685
 
I'd like to call upon the collective minds on the porch to critique a "plan" I've devised for myself - the intention being to average down on my LPTHA position.

First of all, I have 230 LPTHA at $69.00 (I know, it was a impulse purchase!)

I also have 200 ELON at $60.00 which I bought on margin.

My plan is to write 2 contracts on ELON (first time) for May 75 for a premium of approximately $21.00 which would give me $4200.
Now I could buy another 100 LPTHA (give or take a few bucks).

Then, when my CC expires in May at $75.00, I will have made
$15.00/share ($3,000) for a total upside of $7,200.

All this as opposed to just selling my ELON shares now at $80.00 for a profit of $20 per share.

Does this make sense or should I just go back to making bread the old fashioned way. I'd appreciate your comments. TIA

Rose
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