How I'm Building My Interactive Brokers Account with TLRY Stock and Call Options

| Investments | 2 seen

On March 1, 2023, I bought additional 21 shares of TLRY stock (NASDAQ: TLRY), paying $2.80 per share for my stock portfolio.

I've been selling call-and-put options with TLRY since 2020. I remember days TLRY traded around $20 per share. I wouldn't mind seeing this stock trading there again.

TLRY stock price March 1st, 2023

During month of February TLRY stock have lost more than 16% of the value, while SP 500 lost little more than 4% last month. 

I'm now holding 54 shares of TLRY in my stock portfolio

Using dollar-cost averaging our average cost per TLRY share is $3.05

46 shares to go once I will be able to start selling covered calls and generate extra income from TLRY stock. I'm looking to get there by April / May 2023.

If I would have 100 shares of TLRY today, I could sell April 6, 2023, covered call (36 days to expiry) with a strike price of $3.5, to get a $0.08 premium. In case my shares would get called away on expiry I would realize $53 in income in about 36 days, that's a potential return of 17.37%

If my call option would expire worthlessly, I would pocket $8 or about 2.62% potential return in about 36 days, and start over by writing additional call options.

TLRY stock 50/200-day moving averages

At the moment TLRY stock is trading under both its 50/200-day moving avarages. For me it seems that TLRY stock in into a consoliditation phae now, whch can last for a couple of more weeks/months. In the short future I see that the price of $3 could get touched and for more optimistic scnerario even price of $3.5 could get touched. 

The nexrt earnings date for TLRY stock is planned on April 5, 2023, which could gives us some more ideas where the stock is heading.

TLRY stock forecast

The 14 analysts offering 12-month price forecasts for Tilray Brands Inc have a median target of 3.40, with a high estimate of 9.00 and a low estimate of 2.80. The median estimate represents a +22.08% increase from the last price of 2.79.

About TLRY

Tilray Brands, Inc. is an American pharmaceutical, cannabis-lifestyle and consumer packaged goods company, incorporated in the United States, headquartered in New York City. Tilray also has operations in Canada, Australia, New Zealand, and Latin America, with growing facilities in Germany and Portugal

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