IvelinRadkov
The markets are looking for direction, as they have been pinned in a range the last two months, and we just do not see meaningful upside much past 4200 on the S&P 500 Index (SP500). We think the
AT&T Stock: Leverage Tactical Trading For Outsized Returns (Rating Upgrade)
Summary
- We made a very controversial call to sell chunks of AT&T Inc. stock as it hit $19 and $20.
- The stock has tanked over 17% since reporting earnings.
- As we guided to tactically wait for well under $17 to come back into the name, we are once again ready to buy for income.
- Cash flow is key here, but with the yield now approaching 7%, you can generate more income not just by trading the stock around a core position, but through a covered call approach.
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Analyst’s Disclosure:I/we have a beneficial long position in the shares of T either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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