Things I want to do (TIWTD) Buying AT&T

in #money6 years ago

I am not a financial adviser, this is just something i did and wanting to share it with the rest of the world on why I did it. I would love to hear what is everyone's opinion is on the subject too.

I've been looking at the AT&T for a while now and I have always been looking for an opportunity to buy it at the right price.
For me the right price was $31-32. Hear me out. AT&T062018.PNG

WHY I PICKED AT&T :
At the time of writing this, it's 06/21/18, this is right before the market opened. The current price has been the resistance line for the past 6 years. The last time it was below $30 was in June of 2012. I actually purchased AT&T on May 25 2018.
I purchased some shares on Robinhood at $32.66 and couple call options at 35.5 to be expired on June 6 2018. I paid about 8 cent per contract. At this time, I knew that AT&T was in court regarding the merger with Time Warner, and honestly I was betting on the merger going through. Now let me show you what really happened. People bought the hype and sold on the news.

WHAT I DID :
The days were before the news came out, I couldn't be more happy. My contracts were doubling in price each day.
When it hit 20 cent per contract, i decided to sell half my contracts because I got back my original investment plus some.
So now I'm thinking to myself, I will just hold on the remaining contacts I have since i technically got it for free. Little did I know, those contacts went as high as 50 cents each. But here comes the best part, the day after the news came out, they became completely worthless. This is because time was running out on my contact and everyone was trying to dump it.

WHAT I AM DOING NOW:
I decided that I want to keep investing in AT&T. I still think that at it's current price, it is still a bargain. Like i stated on the top, the last time AT&T dropped below $30 was in June of 2012. Price from $31-32 is a very strong resistance line. However, I do have some cash set aside if it does drop below $30. Whenever I buy any stock, I always make sure that I have some cash left, so if it does drop, I can buy again. Besides AT&T is a great Blue Chip stock. Investing is a game of patience. Just buy it and forget it. The chances of AT&T becoming worthless is almost impossible. Even less likely now that they have merged with Time Warner.

This is just my 2 cent on this topic and what i plan to do. Let me know what you think by leaving a commit below.

Thank you and have nice day.

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