I have wanted to own this stock...I have owned it in the past. The problems is the drought in California...They have a lot of properties here. Yeah, I know they have properties everywhere. We got a decent rain storm this week...With another one to come next week. Water can make or break California farming... https://www.google.com/url?sa=t&rct...16705207.php&usg=AOvVaw2TClOJyekACySJmvlJXhgI Hope to option the Sept 22 $15. for income...We'll see.
Just letting you know I bought more FPI today. 200 shares in one Roth IRA and 100 in the other. With these I do not plan on optioning them (covered calls), unless they rose say 20%. Even then I probably won't. I'll just hold these for inflation protection. It looks like more rains this week and next week in California. The state could release more water in the spring and summer to farmers... California has a dam system where much of our water is stored for years. It's given to cities, farms, and a certain amount must go to the rivers...Too the sea for maintaining fish populations. Fish and cities get the first crack at the water...Followed by farmers. The state has stepped in and can now control how much pumping (ground water) farmers can pump. A difficult balance for everyone. I'm a former farmer (almonds). Californians watch the below graph very closely... https://cdec.water.ca.gov/reportapp/javareports?name=RES
Reading further, I changed my mind this week...I optioned these 300 shares. I noticed that much of their land is long term leased in California. In the Midwest and south they own many of their properties. In general last week, I bought the 300 shares for about $11.82 I think. Today I optioned the Sept 2022 $12.50 for $1.15. I will also grab the 5 cent dividend that came out. I know this is picking up pennies, nickels ($50.-$200.) at a time...But it works for me. I still may buy some more...Just not going hog wild on this stock!! Boring value company with fair/poor dividend and fair option money. My type of company...Just me.