Actually I only bought small positions. I've been waiting to start a large position. It's still a big gutcheck, I can't afford to lose anymore money. Imagine my horror if I bought at 28 and the price dropped to 25...
AGNC 52 wk low is $27.61 12/20/2011 after Dividend. The economy may be worse this Christmas. I doubt Congress and Obama will have the FiscalCliff worked out by then if at all. I see a very uncertain crap shoot. I will stand clear, you genius types with big balls jump right in.
Obviously book value and buybacks don't mean anything. However, at 28, there's a considerable margin of safety and even a 40% div cut (worst case) would still give a 10% yield.
There's no way I'm going to risk it all on a div run that might not come. I'm going back to my conservative approach of buying undervalued securities and waiting, so I would buy march or jun calls if the price is right.
I've lost way too much money doing reckless trades, so now I'm back to the basics.