Bought more MPW

As I reported a couple of days ago; in the last few weeks I brought is $580 in premiums selling Calls on the 1000 shares in my margin account. I also have a Call expiring on 3/3/23 which will give me another $400 premium. The shares in my margin account I hope to get assigned on because I’m paying margin interest. However, with MPW, I really don’t care because if I don’t get assigned I’m holding the stock for the dividend.

With some of the premiums I brought in I bought more shares of the stock. This morning I moved enough money from my margin account over to my non-margin account to buy 30 more shares with the premium money. So I also look at these shares as free shares; I bought them with money I made with an options trade. I placed the order at $12.80 and I just got filled.

Buy 30 Shares of MPW @ $12.80 

I had 1000 shares so now I have 1030 shares. With these new shares added I now have 1030 shares of MPW at an average of $11.68 per share which is 9.93% with the 29¢ dividend.

When I own shares and collect dividend shares, plus buy shares with premiums from selling Call, I call this Double Dipping. I now collect dividends on the shares I received from a dividend payment and shares I bought with premiums. All these shares are FREE Shares.

I will try to keep track. At this point I have 1030 shares, 1000 shares I bought and 30 free shares.

Any questions send me an email.

 

Successful trading,

Steve

The Options Coach