I sold half my shares....Hi everyone,
I've posted here before but I'm mostly a lurker.
When the stock price hit $50, I decided to sell half my shares and lock in my initial investment. I thought I was so smart.
Thankfully, I kept the other half, but I ended up selling a covered call on it to make more money. Strike price $56, expiring November, for $3.50 per contract.
If WEED breaks $60 meaningfully, I will get called out and forced to sell at $56 (equivalent of $59 when taking into account the option premium).
As a long, this worries me. I really, really hope I don't get called out. I would love a major consolidation into the low 50's so I can buy more.
As my name implies, I'm not the most experienced investor, and I've never seen anything run like Canopy. It's amazing, and makes my "Blue chip dividend" stocks boring as hell.
Worst case, I doubled my money in 6 months (got in end of Jan 2018) if I get called out. Best case, strock drops hard and I can buy more, and my Call option expires worthless.
One can dream. GLTA!!