Sold and repurchased AAPL, lowered cost basis by $6 a share and collected dividend. I'll continue using trailing stop loss on AAPL as I ride it up and down the range it is in. Covered call expired on ARNA, received premium. Cash secured put expired in LINE, received premium. Opened put on CAT, strike price 82.50 in June.
Watch ARNA, June 7 release of Belviq followed by preliminary sales numbers. ARNA also has off label prescriptions possible for Q for diabetes. Other drugs in pipeline for pain relief and alzheimers. ARNA is a keeper for now and probably for a long time-lots of good things possible there including a buyout from one of the big pharmas.
LINE took a dive after some bad press from Barron's-loaded up on the dip. I will now do some covered calls on LINE after the price recovers. It is an upstream MLP, upstream meaning it does exploration and production of oil and gas. This is different than a midstream which does transportation and storage (like KMP, which we own). Midstreams are more predictable and less prone to commodity price change effects. I plan on selling LINE thru calls and picking up MMP or EDP which are midstreams that also have no general partner so they keep all of their profits. BTW downsteam MLP's exist and they do refining-there are only a few of them. The oil majors are entering this entire space.
About Me
- jc
- Interested in saving and investing for financial freedom. Mid to late career IT worker with 20+ years in the state retirement system seeking alternate income through dividend growth investments. Final goal is to pass it down to my children and that they do the same for their children-a continuing generational wealth transfer.
