MR.GIC Record update....not good

[selkirk]

Time to see the record and though it came in with a gain of 5.5%, and beat all of the indexes there was some very bad mistakes. next year will be better.
the portfolio was started on April 16, 2002. so the main indexes averages at the end of March were: DJIA -23.18, Nasdaq 100 -29.88, SP 500 -26.08, TSX/SP 60 -19.14%.

April was a turn around for most of the indexes but they are all still in negative territory since April.

prices were taken as of May 6, 2003

Mr Gic..

Portfolio

Saxon small cap $5000 invested at $17.237 to buy 304.536 units.
$13.77X 304.536 = $4193.46

XIU I 60s 300 shares PP $42.50 Avg P $40.33 divs $102.30
$38X300= $11400

XIU I 60s calls 3 contracts Sept. $41 (.30/.45) $90 credit

Summit Reit (smu.un) 500 shares (purchase price $14.98/yield 10%) divs=$765
$15.40X500= $7700

Manulife Financial 300 shares ($45.95) divs= $191
$37.99X300=$11397

MFC July $40 calls 3 contracts .75/.85 $225 credit

TD 400 shares $224 divs,
$35.14X400= $14056

500 BFI Canada Income Fund BFC.un$10.97
divs= $500
$12.15X500= $6075

Encana $45 P July (.60/.75) 2 contracts X .60 = $120 credit

CP 4 $27.50 Oct Puts $1.70/$1.80 400X1.70 = $720

CGI (GIB.a-TSX) 8 contracts $7P August (.45/.50) credit $360

cash = -$1259.17


Portfolio Value= $52,753.29
+5.5%

note: took off $810 for the options I have written. feel this is fair but you could take off as much as $1050, if you took the ask. went by close price, however some of these options do not trade for days. believe all will expire worthless.

added divs from my two income trusts BFC and summit, but will from now on only calculate divs every 3 months.

thanks
selkirk

 

[selkirk]

Mr Gic..

Portfolio

Saxon small cap $5000 invested at $17.237 to buy 304.536 units.
$13.77X 304.536 = $4193.46

XIU I 60s 300 shares PP $42.50 Avg P $40.33 divs $102.30
$38X300= $11400

XIU I 60s calls 3 contracts Sept. $41 (.30/.45) $90 credit

Summit Reit (smu.un) 500 shares (purchase price $14.98/yield 10%) divs=$765
$15.40X500= $7700

Manulife Financial 300 shares ($45.95) divs= $191
$37.99X300=$11397

MFC July $40 calls 3 contracts .75/.85 $225 credit

TD 400 shares $224 divs,
$35.14X400= $14056

500 BFI Canada Income Fund BFC.un$10.97
divs= $500
$12.15X500= $6075

Encana $45 P July (.60/.75) 2 contracts X .60 = $120 credit

CP 4 $27.50 Oct Puts $1.70/$1.80 400X1.70 = $720

CGI (GIB.a-TSX) 8 contracts $7P August (.45/.50) credit $360

BCE 3P contracts Jan $25 (.75/$1) $225 credit

cash = -$1034.17

BCE is the biggest telephone company in Canada. New managment is cutting costs and will see better earnings as a result. not the most exciting play the stock is currently over $28 cdn. paying over 4.6% yield not a bad stock.

last trade until the summer when some of these options will expire (hopefully).

best plays

1.have been these options, most have expired worthless.

2.also Both income trusts have performed very well. SMU.un BFC.un

worse plays.
1. one option to many on MFC.
2. sold CAE and the stock rallied over 30% in one month, bad timing stock has a major debt payment coming due. earnings report was not as bad as I feared. they still face obstacles but if management can raise money through a debt or equity issue the rally may continue. will be very volatile.

thanks
selkirk

 

[selkirk]

just thought would update the dividends in the portfolio from April to June. Note: income trusts only two months worth of divs because added the April divs for smu.un, bfc.un already.

Dividends came to $446.45, XIU $52.95, SMU.un $127.50, MFC $54, TD $112, BFC.un $100 cdn $. will write another option but will wait until the end of June.

thanks
selkirk


Mr Gic..

Portfolio

Saxon small cap $5000 invested at $17.237 to buy 304.536 units.
$13.77X 304.536 = $4193.46

XIU I 60s 300 shares PP $42.50 Avg P $40.33 divs $155.25
$38X300= $11400

XIU I 60s calls 3 contracts Sept. $41 (.30/.45) $90 credit

Summit Reit (smu.un) 500 shares (purchase price $14.98/yield 10%) divs=$892.50
$15.40X500= $7700

Manulife Financial 300 shares ($45.95) divs= $245
$37.99X300=$11397

MFC July $40 calls 3 contracts .75/.85 $225 credit

TD 400 shares $336 divs,
$35.14X400= $14056

500 BFI Canada Income Fund BFC.un$10.97
divs= $600
$12.15X500= $6075

Encana $45 P July (.60/.75) 2 contracts X .60 = $120 credit

CP 4 $27.50 Oct Puts $1.70/$1.80 400X1.70 = $720

CGI (GIB.a-TSX) 8 contracts $7P August (.45/.50) credit $360

BCE 3P contracts Jan $25 (.75/$1) $225 credit

cash = -$587.72

 

[selkirk]

write 4 p contracts of TRP (TransCanada Pipelines $24 cdn. ) Jan. currently trading over $25, like the stock below $24, nice yield. safe dividend.

Mr Gic..

Portfolio

Saxon small cap $5000 invested at $17.237 to buy 304.536 units.
$13.77X 304.536 = $4193.46

XIU I 60s 300 shares PP $42.50 Avg P $40.33 divs $155.25
$38X300= $11400

XIU I 60s calls 3 contracts Sept. $41 (.30/.45) $90 credit

Summit Reit (smu.un) 500 shares (purchase price $14.98/yield 10%) divs=$892.50
$15.40X500= $7700

Manulife Financial 300 shares ($45.95) divs= $245
$37.99X300=$11397

MFC July $40 calls 3 contracts .75/.85 $225 credit

TD 400 shares $336 divs,
$35.14X400= $14056

500 BFI Canada Income Fund BFC.un$10.97
divs= $600
$12.15X500= $6075

Encana $45 P July (.60/.75) 2 contracts X .60 = $120 credit

CP 4 $27.50 Oct Puts $1.70/$1.80 400X1.70 = $720

CGI (GIB.a-TSX) 8 contracts $7P August (.45/.50) credit $360

BCE 3P contracts Jan $25 (.75/$1) $225 credit

TRP Jan $24 P 4 contracts .95 400X.95= $380
cash = -$207.72

 

[selkirk]

Mr Gic..

Portfolio

Saxon small cap $5000 invested at $17.237 to buy 304.536 units.
$13.77X 304.536 = $4193.46

XIU I 60s 300 shares PP $42.50 Avg P $40.33 divs $155.25
$38X300= $11400

XIU I 60s calls 3 contracts Sept. $41 (.30/.45) $90 credit

Summit Reit (smu.un) 500 shares (purchase price $14.98/yield 10%) divs=$892.50
$15.40X500= $7700

Manulife Financial 300 shares ($45.95) divs= $245
$37.99X300=$11397

TD 400 shares $336 divs,
$35.14X400= $14056

TD Jan $42.50 Calls 4 Contracts .25/.35 400X.25=$100

500 BFI Canada Income Fund BFC.un$10.97
divs= $600
$12.15X500= $6075

Encana $47.50 P 2 contracts $1.65/$1.80 200 X $1.65=$330

CP 4 $27.50 Oct Puts $1.70/$1.80 400X1.70 = $720

CGI (GIB.a-TSX) 8 contracts $7P August (.45/.50) credit $360

BCE 3P contracts Jan $25 (.75/$1) $225 credit

TRP Jan $24 P 4 contracts .95 400X.95= $380
cash = $222.28


the MFC $40 July Calls, ECA $45 Puts, expired worthless, will write ECA $47.50 Jan took the bid close (worse price for record purposes), also write TD $42.50 call for only $100.

Wanted to write covered calls on the MFC but have not seen anything I like and it looks like MFC wants to break $40, so will wait.

May sell SMU.un soon or part of it, as it has had a good run. Finally in a positive cash position.

thanks
selkirk

 

[selkirk]

well the portfolio is doing much better of late, will provide an update on the value in the next month.

MFC did break over $40 cdn. now stands at $41.90 so will write $45 Jan calls ($1/$1.10) will take the worse price for record purposes.

will try to build up cash before buying another stock.


Mr Gic..

Portfolio

Saxon small cap $5000 invested at $17.237 to buy 304.536 units.
$13.77X 304.536 = $4193.46

XIU I 60s 300 shares PP $42.50 Avg P $40.33 divs $155.25
$38X300= $11400

XIU I 60s calls 3 contracts Sept. $41 (.30/.45) $90 credit

Summit Reit (smu.un) 500 shares (purchase price $14.98/yield 10%) divs=$892.50
$15.40X500= $7700

Manulife Financial 300 shares ($45.95) divs= $245
$37.99X300=$11397

Manulife MFC Jan $45 Calls 3 contracts $1.00 $300 credit

TD 400 shares $336 divs,
$35.14X400= $14056

TD Jan $42.50 Calls 4 Contracts .25/.35 400X.25=$100

500 BFI Canada Income Fund BFC.un$10.97
divs= $600
$12.15X500= $6075

Encana $47.50 P 2 contracts $1.65/$1.80 200 X $1.65=$330

CP 4 $27.50 Oct Puts $1.70/$1.80 400X1.70 = $720

CGI (GIB.a-TSX) 8 contracts $7P August (.45/.50) credit $360

BCE 3P contracts Jan $25 (.75/$1) $225 credit

TRP Jan $24 P 4 contracts .95 400X.95= $380
cash = $522.28

 

[selkirk]

Mr Gic..

Portfolio

Saxon small cap $5000 invested at $17.237 to buy 304.536 units.
$13.77X 304.536 = $4193.46

XIU I 60s 300 shares PP $42.50 Avg P $40.33 divs $155.25
$38X300= $11400

XIU I 60s calls 3 contracts Sept. $41 (.30/.45) $90 credit

Summit Reit (smu.un) 500 shares (purchase price $14.98/yield 10%) divs=$892.50
$15.40X500= $7700

Manulife Financial 300 shares ($45.95) divs= $245
$37.99X300=$11397

Manulife MFC Jan $45 Calls 3 contracts $1.00 $300 credit

TD 400 shares $336 divs,
$35.14X400= $14056

TD Jan $42.50 Calls 4 Contracts .25/.35 400X.25=$100

500 BFI Canada Income Fund BFC.un$10.97
divs= $600
$12.15X500= $6075

Encana $47.50 P 2 contracts Jan $1.65/$1.80 200 X $1.65=$330

CP 4 $27.50 Oct Puts $1.70/$1.80 400X1.70 = $720

CGI (GIB.a-TSX) 8 contracts $7P Jan (.25/.35) credit $200

CIX 4 contracts put $14 April (.90/$1) $400 credit

BCE 3P contracts Jan $25 (.75/$1) $225 credit

TRP Jan $24 P 4 contracts .95 400X.95= $380
cash = $1082.28


CGI (GIB.a ) puts for August $7 expired worthless so wrote some for Jan at $7 $200 credit, and CI has taken over some other mutual fund companies to be the second biggest in Canada. So Wrote 4 P April $14 for $360 credit.

Will update value of portfolio in the next two weeks, doing better.

thanks
selkirk