Sunday, July 3, 2011

Money machine Freeport McMoran symbol FCX

          Sometimes we find a company that just makes us so much money we cannot believe it.  IBM was such a company until it was finally taken as a covered call.  Freeport McMoran is a very different company than IBM but it has been a great money maker over the past seven months.

          I have written several posts on FCX.  On Friday I wrote another call on FCX.  Strike price is $60 and the call expires on November 11, 2011.  I received a premium of $2.10 per share.   I have written several calls on FCX for income.   My cost basis is $54.17.  In December a special dividend was paid; in May a regular dividend was paid; and in June another special dividend. 

         The point of this post is that the you need not depend only on dividend machines for income.  A little risk in a well researched stock can also provide very nice income.

          I have listed the links to each of the 6 posts on FCX.

Very Truly Yours,

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