I sold Puts on Enbridge Inc. (ENB) today – taking advantage of another late day market crash. Pipeline companies have been getting punished in 2018 – and I really like this companies core businesses:
- Sold: 10 April 18, 2018 Puts
- Strike Price: $30.00
- *Premium Collected: $850.00
If I am forced to buy the 1000 shares, my entry price will be $29.15 per share – almost a 38% discount to Enbridge’s Morningstar Fair Value. Enbridge is currently paying a 6.32% dividend – and I anticipate that this will grow over the next two years as more pipeline capacity comes online.
Extra: Leaving for Utah tonight – time to chill out!
*Excludes transaction costs.
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