Latest Stock Buy: Bought 2 AMZN shares at $102.82

On May 1st, 2023, we bought an additional 2 shares of Amazon (NASDAQ: AMZN) stock, paying $102.82 per share for our Partnership Fund.

We are now holding 23 shares of AMZN in our Partnership Fund portfolio

Using dollar-cost averaging our average cost per AMZN share is $104.71 (-0.13)

77 shares to go once we will be able to start selling covered calls and generate extra income from AMZN stock. At the current investment speed (2 shares per month) we could get there in the next 39 months or around July 2026. 

If we had 100 shares of AMZN today, we could sell June 2nd, 2023, covered call (32 days to expiry) with a strike price of $110, to get a $1.26 premium. In case our shares would get called away on expiry we would realize $655 in income from our total investment, that's a potential return of 6.25%

If our options would expire worthlessly, we would simply pocket $126 or about 1.20%, and start over by writing additional call options.

I hope to reach 100 shares of AMZN in the portfolio and looking at that at least 10 shares would be bought from the capital earned from selling options premium.

At the time of writing this article, Amazon stock is trading in between 50/200-day Moving averages. From a technical trading perspective, there is a chance stock could break the resistance level at $107. Support at $99.