I sold CUSIP: 032359AE1

music selection: “Warning” — Queensryche

On 10JUN2020, I bought the 6.1250 coupon AFSI bond with 15AUG2023 maturity for 93.5000 cents on the dollar.  I originally had 6 bonds but one sold earlier in the week.  The remaining five bonds cleared the market at par today.

I initially paid 5 dollars in commissions as well as 166.20 in accrued interest.  Today’s sell at 100.0000 includes 5.75 in commissions and fees, a coupon payment plus accrued interest totaling to 257.74.  Total cash out was 4,846.20 and total cash in was 5,2521.99.  My profit is thus 405.79 which is 8.37% over 187 days or 16.34% annualized.

This was always a “money good” bond.  I feel pretty lucky to have found such easy money.  I’ll be monitoring the bond price and getting back in if it falls to 92 or below again.  I have already flipped this bond between 90 and 100 twice.  A third time would be just keen.

Devour your prey raptors!

Dispose of remaining position in AFSI bonds

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