Friday, January 21, 2011

Freeport McMoran a high risk trade January 21, 2011

January 24, 2011 profile.   FCX provided another chance for income today. To refresh your memory we bought FCX at $107.5 sold calls at $115 but the calls expired this weekend. This morning FCX is up and I wrote more calls, again at $115. Expiration is March 19, 2011 and my income from the call is $4.50 per share. As an income investor, you have to love this kind of trade.

Very Truly Yours,