More Exxon Mobil Stock in my Account with BJ
I have been sitting with about $7500 dollars in the money market in my account with BJ. That represents about 10% of the value of the account. I felt that was justified since I had written the April put at 50 on CNI(Canadian National Railroad) and I thought I was going to be assigned on those puts. However, with CNI over 60 I am anticipating that these puts are going to expire worthless. Therefore, I am now free to use the money for something else.
The account currently has three stocks: CNI, RS (Reliance Steel) and XOM (Exxon Mobil). I felt that I did not have enough money to add a fourth stock to the list. I also noticed that oil prices have been going up lately and we are headed for the summer driving season. Therefore, I bought 100 shares of Exxon Mobil in the account. I paid $67.58 per share. The account now has 400 shares of Exxon Mobil. The symbol for Exxon Mobil is XOM.
The current value of the account is $77,067.97.
Bob
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