I understand that we were waiting for this to be capped but the stock price is very unrealistic
I have been long from 27 to 33 and I felt there was not much upside from there even after it being capped too so exited the position
when the price was at 27 everyone said sell and I bought boat load of calls and did not realize full potential but this is not realistic for the price at this point
33 is an unrealistic price to begin with... either you bet on doomsday <1% or you take the odds...the stock is either worth zero or more than more than 40... but all that dont make a hill of beans if you have followed stocks or even the market in similiar situations you would have known this biaaatch was headed to at least 40 and it is "worth" more IMO but that is irrelavant unless you are an investor, which you should be and I should be but I am too impatient for that LOL...my motto is see the future make money and find the next game, because that is all it is IMO
you want the price a little lower so you can get back in huh? Sold too early, I made a mistake of selling some of my calls for July, fearing of the deadline but I still have shares and longterm calls
Funny how going short makes you a bear. I flipped my July calls for August puts today too. Not because I think BP will be taken over, but because it went up almost 40% in a couple of weeks.
I think the stock eventually goes back over $40, but Murphy's law dictates BP will suffer another setback, sending it back to the low $30's.
you're right - the price is still way too low.
- early capping decreases the amount of oil to be cleaned, the claims, the penalties, etc
- also means they can take a tougher stand on the numerous political extortionists.
- the price runup now makes it highly unlikely there'll be a takeover; we can look forward to long-term recovery to $60+
- $20B ?? Look for that to be partially rescinded; just won't all be needed.
- BP is now in a new business: they have the single most advanced neo-BOP stack in the world.
I hope that this price stabilizes.
I was very simpathetic to BP all the time and wanted that the spill is over.
but I was always risk taking and moved on to other positions last week.
I regret that I did not take full advantage of the price or else I would have made an additional 60K in this position.
but the long term position after the cap is fixed and all the liabilities are know is 45 dollars for this stock. they are selling all the prized assets and it will take a long time to get to that position.
I do not even know the liabilities.
I was expecting that the flow is at the low end of the range (35K barrels per day) only and I feel that may be right so that even reduces the liabilities for BP.
still the problem is not completely resolved and that is the reason I feel that the stock price is unrealistic on the upside.
I had the opportunity to buy calls today and I knew that the problem will be resolved but still did not bet on it
I was the one expecting the relief wells may be completed early by mid july
hope that longs will not loose tomorrow
Article says no corporate board in it right mind would agree to nuy BP with its undetermined liability and before investigations of well blow out cause are complete.
This BP share rpice run up has to be one of the greatest greed driven dislocation we've experienced since the late 1999 internet stock bubble. Nasdaq 2000 went from 5148 in March 2000 to 1000 in March 2003.