Thursday, April 09, 2020

BRY trade 04/09/2020

This post is a continuation of the $50 a month stock challenge I started October 14, 2019.  Click on, "No Commission Stock Trades", on the right side of the page to read from the start.

            $381.94 self-imposed April trading limit.
            2% of $381.94 = $7.64 April profit needed.

    March 23, I bought 1 BRY @ $2.35, today April 09, I sold 1 BRY @ $2.60.

     $2.60...…....…...1 BRY @ $2.60
     $2.35.....bought 1 BRY @ $2.35
     $0.25 total profit

     $0.25 / $2.35 = 10.63% ROI

      * because I purchased 2 BRY @ $7.30 on 02/21 and 1 BRY @  $2.35 on 03/23, I need to indicate to my broker that I want to sell the 1 BRY @ $2.35 bought on 03/23. The default method is FIFO (First In First Out) but I can change it to "LIFO" or "cheapest" on any trade, just indicate it to my broker.

     BRY has suspended all forward dividends until crude oil prices recover. We will still receive the "captured dividend" on our 2 shares purchased on 02/21 payable 04/15. 
     The 1 share I sold today (purchased on 03/21) was bought after "dividend ex-date" and was not eligible for the dividend.
     While $0.25 profit from the sale seems insignificant, remember I only had $2.35 invested. ROI of 10.63% IS a large return on investment (ROI).

     BRY is still in play for me until crude oil recovers (the price should move up as crude moves up). Remember our goal of 2% monthly on all invested money, a $0.05 gain at the current price meets that criteria.  

     Don't under estimate gains even from small positions. Money not invested earns nothing.

Disclaimer, I am not a professional.
your comments are welcome and appreciated or


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