Discover more from Covered Calls with Reinis Fischer
Latest Stock Buy: Bought 28 TLRY shares at $2.57
On April 3rd, 2023, I bought additional 28 shares of TLRY stock (NASDAQ: TLRY), paying $2.57 per share for my stock portfolio.
I've been selling call-and-put options with TLRY since 2020. I remember days TLRY traded around $20 per share. I wouldn't mind seeing this stock trading there again.
I'm now holding 82 shares of TLRY in my stock portfolio
Using dollar-cost averaging our average cost per TLRY share is $2.90
18 shares to go once I will be able to start selling covered calls and generate extra income from TLRY stock. I'm looking to get there next month (May 2023)
If I would have 100 shares of TLRY today, I could sell on May 5, 2023, covered call with a strike price of $3.0, to get a $0.12 premium. In case my shares would get called away on expiry I would realize $24 in income in about 30 days, that's a potential return of 8.27%
If my call option would expire worthlessly, I would pocket $12 or about 4.13% potential return in about 30 days, and start over by writing additional call options.
At the moment TLRY stock is trading under both its 50/200-day moving averages. For me, it seems that TLRY stock is in a consolidation phase now, which can last for a couple of more weeks/months.
In the short future, I see that the price of $3 could get touched, and for a more optimistic scenario even a price of $3.5 could get touched.
The next earnings date for TLRY stock is planned on April 5, 2023, which could give us some more ideas about where the stock is heading.