Monday, March 21, 2011

Freeport McMoran a high risk trade revisited

Freeport McMoran, symbol FCX,  was the subject of an option trade
profiled on January 24, 2011. See original post

Since that time FCX split 2 for 1.  This split makes our cost basis $53.75.  The call expired and we were able to write additional calls today at $57.50 for a premium (our income) of $1.42.  FCX is becoming a terrific income machine although it does not qualify as a dividend machine it is a friend for income investors.

Very Truly Yours,