The Market is crashing again today – time to shop! I sold options on Enbridge Inc. (ENB) again, since I still believe the shares are deeply undervalued. Here are the details of the trade:
- Sold: 10 Jan 18, 2019 Puts
- Strike Price: $30.00
- *Premium Collected: $550.00
If I am forced to buy the 1000 shares, my entry price will be $29.45 per share – almost a 38% discount to Enbridge’s recently lowered Morningstar Fair Value of $47.00 per share. Enbridge is currently paying a 6.32% dividend – estimated to be around $500.00 every three Months.
*Excludes transaction costs.
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