Friday, January 13, 2012
Well my ESPP shares officially hit my brokerage account today. I was able to get 184.524 shares at $29.33, which is the 15% off of the $34.51 close. Since it transferred to my brokerage account I'll be able to go through with my plan to sell call options to get added income. I'll be running numbers to see what call options will be giving me the best return for the risk of having the shares called away. As long as I can get enough money to pay off the tax hit then that will make up for shares being called away. As I said earlier I hope to be able to target $100 in added monthly income from selling the options. February will be the earliest call that I sell. I'm also looking to possibly purchase some LEAPs in the future. I'll update should I decide to do so. While I don't necessarily want the shares called away from me it wouldn't be the worst thing in the world since they currently represent around 37.5% of my portfolio and I feel that the risk of holding such a large percentage of my portfolio in my company stock is high even for me. Should the oil field go down and I get laid off I'd lose my job and most likely a large portion of my portfolio as well.