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Dividend Harvesting Scheme
Posted on 11/1/24 at 7:08 am
Posted on 11/1/24 at 7:08 am
Wanted to throw it out there and see what the board's opinion on my little scheme I've cooked up. Been doing this in a ROTH so that I do not have to worry about tax implications.
I have been buying and selling 3 dividend stocks, JEPQ, SVOL and CRF. Buying and selling before the Ex Dividend date and selling before the next one.
I have am up about 12% in 2 months with adding more shares than when I started while the stocks have been basically about 1% increase.
What do yall think?
I have been buying and selling 3 dividend stocks, JEPQ, SVOL and CRF. Buying and selling before the Ex Dividend date and selling before the next one.
I have am up about 12% in 2 months with adding more shares than when I started while the stocks have been basically about 1% increase.
What do yall think?
4
Posted on 11/1/24 at 7:32 am to shotskimakesmysat
Have you heard the tic tok theory that if you buy a whole roll of scratch off tickets it guarantees you break even at minimum? I think that chick actually came up with this idea first.
Posted on 11/1/24 at 7:35 am to shotskimakesmysat
I think it works great until it doesn't.
Posted on 11/1/24 at 7:40 am to Enadious
I think the same way. Its working right now, but I don't think its a good long term play.
It is money that is allocated to dividend stocks, primarily split between JEPQ and CRF. Hoping it doesn't the learning curve is not to harsh if it goes south.
It is money that is allocated to dividend stocks, primarily split between JEPQ and CRF. Hoping it doesn't the learning curve is not to harsh if it goes south.
Posted on 11/1/24 at 8:00 am to shotskimakesmysat
You more or less have to be correct every time. The dividends and distributions are always correct.
Unless you’re in something like clm that announces a rights offering, I just don’t see it working out long term.
Also, your plan will always have s/t gains, whereas after a year dividends become qualified.
Unless you’re in something like clm that announces a rights offering, I just don’t see it working out long term.
Also, your plan will always have s/t gains, whereas after a year dividends become qualified.
Posted on 11/1/24 at 6:14 pm to shotskimakesmysat
It doesn't seem to me to make much sense to do this instead of collecting the dividend. The only way I could think of it making any sort of sense is if it's a foreign stock that has taxes withheld on the dividends and is in a tax advantaged account.
Posted on 11/1/24 at 6:18 pm to shotskimakesmysat
Dividend sniping can work if you pick the right horses. But if you hold a stonk for less than 61 days the dividends are taxed at a higher rate.
There are also disadvantages in both directions when it comes to growth. If the stock drops (which it will, all else being equal) you have to sit on it until it gets back to the purchase price. If it grows after you sell you missed the growth and it's more expensive to get back in 3 months later.
There are also disadvantages in both directions when it comes to growth. If the stock drops (which it will, all else being equal) you have to sit on it until it gets back to the purchase price. If it grows after you sell you missed the growth and it's more expensive to get back in 3 months later.
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