On February 22, 2021, I bought additional 10 shares of LI (NASDAQ:LI) for our daughter's stock portfolio, paying $28.48 per share. Funds for this purchase were taken from my dad's inheritance fund.
Li Auto Inc., also known as Li Xiang, is a Chinese electric vehicle manufacturer headquartered in Beijing, with manufacturing facilities in Changzhou
Unlike most of my other buys - LI is not a dividend stock. When buying this stock I'm looking at potential value growth.
We are now holding 30 shares with LI
Our average buy price: $30.78
I plan to increase the total share count to 100 in a reasonable time frame (say the end of 2021) and once we have 100 shares start selling covered calls on it to generate extra income. Actually it looks like I might get to 100 shares already in July/August
Just for the illustration:
We could sell a covered call on LI today (February 25, 2021) with expiry on March 05, 2021 (weekly options), with a strike price of $31, and get for that about $1.39 premium. That about 4.51% potential income return in 9 days
70 shares to go!