Purchased 382.336 Shares of Equity Residential

To cover the position with the PUTs sold on Union Pacific, the facilitator decided to buy a stock that is currently dirt cheap. Equity Residential is currently at its three-year low at $51.31. Including transaction fees, the Fund is paying $52.31 per share and has purchased $20,000 worth of Equity Residential. Look at this graph:

In effect, the Fund is buying a long-term investment to cover the insurance via PUTs issued for Union Pacific. After research, the last time Equity Residential was at $51.31 was back during the first quarter of 2010, over 10 years ago. 

As of today, the value investment portfolio consists of $30,000 of Equity Residential and $10,000 of Essex Property Trust. It earned $330.40 on the sale of 59 PUTs for Union Pacific. Act on Knowledge.