Another pair of bonds sold on Friday.

music selection:  “Ice Ice Baby” — Vanilla Ice

On 11JAN2016 I purchased two bonds.  This was the Freeport McMoran 2.375, 15MAR2018 maturity.  I paid 72 cents on the dollar, twelve dollars in commissions, and 15.70 in accrued interest.  On Friday, I sold the bonds for 98.9 cents on the dollar.  I paid 4.25 in commissions and and collected 13.72 in accrued interest.  The trade was in force for 165 days and round trip, yields 81.92% annualized.  In all, 1,467.10 capital was at risk and I cleared 2011.23 for 543.53 in profit.  I think the risk/reward proposition on that beats owning either FCX or the yield on options on the same.

Devour your prey raptors!

Update Discounted Bonds

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2 thoughts on “Update Discounted Bonds

  • June 25, 2016 at 7:09 pm

    The Lizard King – I take 81.92% annualized yield any day. Good Job !!! Do you think the markets will be down next week, or will people be buying?

    • June 25, 2016 at 9:53 pm

      I have no crystal ball. I’d expect Monday to get a little bounce as people start to digest Brexit. After that, anything can happen.


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