I just bought 500 shares of Exxon Mobil (XOM). I will be writing a report on this purchase soon. These shares will be going into my “Wealth Builder.”
Buy 500 Shares of XOM @ $48.00
At this price I paid I will be receiving a 7.25% dividend. I will take this dividend in shares, not cash. My goal is to build the amount of shares of XOM I own. As my shares build I’ll receive dividends on original shares and my dividend payment new shares.
Successful trading,
Steve
The Options Coach
Hey coach! Hope all is well. Would this be a position you sell covered calls against? A way to increase the already healthy yield from the dividend? These are the trades that interest me the most. I have never dabbled in options. Only equities.
Hi Bill,
I know it’s not up yet, but XOM will go into my “Wealth Builder” section. I’ll have it up and running very soon. Wealth Builder has 4 portfolios. 1 in called “Double Dipping Portfolio.” Stocks in this portfolio will have a high dividend yield. They must also have decent premiums. I will get dividend payments in stock, not cash. Also, I’ll sell Covered Calls and buy shares with the premium I receive. My goal will be to not get assigned on these positions and collect shares from dividends and buy shares with the premium earned . Hence, collect dividends on the new share total. And of course pick good stocks that go up in value. I bought XOM at $48. The dividend will be 7.25%. If at the time of dividend distribution the stock is still at $48 I’ll receive a dividend of 9 shares. I’ll be selling a Call this week. I’ll post how many shares I buy with the premium.