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Canadian Natural Resources Limited (CNQ)
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Crescent Point Energy Corporation (Canada) (CPG)
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Cenovus Energy Inc (CVE)
Q: Dear Peter and team,
Thank you for answering my earlier question on heavy oil and suggesting your picks. Doing my "homework", I see that these three are cross listed in the US and Canada. NYSE/TSX.
As I plan to hold them for a sometime I plan to write covered calls to augment the dividends. (One of your favourite strategies if I recall.)
With this in mind, may I ask you if it is more prudent buy these in NYSE as the options market is more vibrant on NYSE? Or stick to TSX? I understand that there is a currency risk if I buy them in USD. As the will be in our Regd accounts not too worried about tax consequences.
Many thanks in advance.
Mano
Thank you for answering my earlier question on heavy oil and suggesting your picks. Doing my "homework", I see that these three are cross listed in the US and Canada. NYSE/TSX.
As I plan to hold them for a sometime I plan to write covered calls to augment the dividends. (One of your favourite strategies if I recall.)
With this in mind, may I ask you if it is more prudent buy these in NYSE as the options market is more vibrant on NYSE? Or stick to TSX? I understand that there is a currency risk if I buy them in USD. As the will be in our Regd accounts not too worried about tax consequences.
Many thanks in advance.
Mano
5i Research Answer:
While there can be differences in some securities, generally we would always prefer the US option market over the Canadian market.