Sold 10 MPW Calls

As you know I own 1000 shares of MPW in my margin account. I have been selling Calls against these shares and today I sold another 1 week 10 contract Call. I received a premium of 12¢ for $120.

I sold 10 MPW 6/9/23 $8.50 Calls. These expire this coming Friday. With the $120 premium I bought 14 more shares of the stock. I bought these shares with the premium and transferred them into my non-margin account. My margin account still has the 1000 shares and my non-margin account now has 1577 shares, and growing.

Sell to Open 10 MPW 6/9/23 $8.50 C @ 12¢ (+$120)

Buy 14 Shares MPW @ $8.33

The next dividend Ex-Date for MPW is 6/14/23 so these shares will be in on the dividend which has been approved to be paid on 7/13/23.

I also own 500 shares of Neuberger Berman Next Generation Connectivity Fund (NBXG). This exchange traded fund (ETF) pays a monthly dividend, not quarterly. It pays $1.20 per share every year which is 10¢ per share every month. I like the monthly dividend because it compounds every month so it will grow faster than a quarterly.

NBXG paid a dividend on May 31st and I received 5 shares. If this fund continues to pay the 12% dividend I will stay in the fund long term.

If you have any questions on my dividend stock strategy send me an email. I hope to write about my long term dividend stock strategy soon. This will involve many dividend stocks. I hope to build to a point where I can eventually draw a monthly or quarterly dividend paycheck. We’ll see!

 

Successful trading,

Steve

The Options Coach