THEY ARE GIVING ATT AWAY!

Although I tend to write on platinum group metals, I have been an active trader for decades since my years as a General Partner of Lazard Freres.

I think ATT, (symbol T) is being given away. Stock at the moment is $31.27 and I have been buying, adding more today, the January 15, 2021 call, purchased yesterday at $2.86 to $3, and today from $3 to $3.1. The stock is in the money $1.27, with breakeven, using the $3.1 call cost, of $33.1.

The stock at the moment yields 6.59% with stable cash flows and remarkable content as a result of the Time Warner purchase. ATT has the stated intent to significantly pay down its huge debt which it in fact has the cash flow and assets to accomplish, and given the recent hire to run Time Warner, has the opportunity to be rerated, a la Disney.

In a world of negative and nearly negative rates in Germany and Japan and with a 10 year Treasury at 2.03%, owning ATT with a 6.5% dividend is a gift, especially considering its relative safety and the significant 50% upside potential I think is in the stock.