I sold another bond.
music selection: “Changes” — Yes
On 8DEC2015 I bought 2 units of Cliff’s Natural Resources 15JAN2018 maturity bond for 29.538 cents on the dollar. I paid 48.26 in accrued interest and 12 dollars in commissions. Recovering oil prices had resulted in a great deal of price appreciation and I decided to sell rather than wait till maturity. I sold for 88 cents on the dollar on Friday. I paid 9.75 in commissions and collected 49.58 in accrued interest. While holding the bond, I picked up two coupon payments of 119 dollars.
My total purchase cost was 651.02 and my total proceeds were 2037.83. The trade was in force for 185 days. My annualized return over those 185 days was 420.28% with 1,386.81 going to profit. I have good till canceled sell orders open on six more discounted bonds, each of which will turn over 300 dollars in profit. I may look for some new bonds to open replacement positions soon.
Devour your prey raptors!