Today I took advantage of market volatility with a Target stock buy. Target (NYSE:TGT) is a familiar stock in my portfolio I’ve bought and sold Target several times over the past 2-years. Each time, I’ve bought Target stock on the dip and sold the stock for a profit.
This latest Target stock buy is 100 shares. I plan on holding Target stock this time, unless it gets called away as part of an options covered call. I bought 100 shares at $67.23 per share, totaling $6,723 dollars. This is my first stock purchase from my new Interactive brokers account. Gotta love IB. My fees totaled $1 dollar. My total cost of 100 Target shares is $6,724.
My Target Stock Buy History
As I mentioned, Target Stock has been good to me. I’ve bought Target 4 times, and sold Target twice.
On 2-10-14, I bought 35 shares for $56.34 a share, totaling $1,971.90. From 3-10-14 to 6-10-15, I accumulated 1.3059 shares, totaling $105.03. Prior to selling I owned 36.0582 shares of Target stock at a total cost + fees of $2,065. I sold all of my Target shares on 6-10-2015 at $79.91 per share, totaling 2,881.41. After fees, I made $909.51
On 6-11-2016 I bought 25 shares of Target stock at $68.68, totaling $1,717. I bought 22.6487 more shares 3 days later at $66.05. My total cost basis on 47.6487 shares was $3,226.85. I sold all shares on 8-15-2015 for $74.93 per share, totaling $3,570.32. After fees, I made $350.42.
Lots of numbers I know. Abbreviated version. I made $1,127.10 dollars by selling Target stock twice. This is a big deal, because every penny counts. I’ve also made another $107 selling options while I waited to make my purchase of 100 shares.
$1,234.10 dollars earned by manipulating TGT stock. To put this into perspective. My real cost basis on the 100 shares I just bought is $5,489.90 or $54.89 a share. Not bad in my book. I’ll continue to sell covered calls on this 100 shares every 60 days or so. This is the power of buying low, selling high, and trading options. In the future, 5 or ten years from now, my cost basis on 100 shares of Target stock could be $0.00.
Target Stock Buy Takeaways
Quick post today. There are a bunch of bloggers buying up Target lately, so if you’re interest there’s plenty of analysis out there. Or you can read the Target post I wrote a few months ago, not much has changed.
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Investment Hunting is a personal finance blog that follows the trades and strategies of a dividend growth investor and options trader. Stocks, dividends, options, retirement, and financial independence are covered on the blog.