On January 29, 2021, we bought 15 shares of NIO stock (NYSE:O ) paying $57.17 per share.
Unlike most of the other stocks I buy, NIO is not a dividend stock, instead, I see NIO as a potential growth stock
NIO is a Chinese automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. The company is also involved in the FIA Formula E Championship, the first single-seater, all-electric racing series
NIO stock forecast
The 17 analysts offering 12-month price forecasts for NIO Inc have a median target of 68.81, with a high estimate of 100.94 and a low estimate of 15.26. The median estimate represents a +20.56% increase from the last price of 57.07.Source CNN money
To finance this purchase we spent one-fourth of our options income in the month of January, see January 2021 Options Income Report - $3,284.00
We now hold in total 15 shares of NIO
Using dollar-cost averaging our average cost per one NIO share is $57.17
Also, NIO takes 2.15% from our stock portfolio
If we had 100 shares of NIO today, we could sell February 5, 2021, covered call (weekly options) with a strike price of $60, to get a $2.19 premium. In case our shares would get called away on the expiry date we would realize $502 income in 7 days, that's a potential return of 8.78% since we started buying NIO.
It's planned to buy more NIO shares once a month until we will reach 100 shares. It looks like we might get there around June or July 2021.
85 shares to go!