why 18 months? I was hoping for 12 because I have jan 2014 puts. lol.
Seriously, based on public information, I can see no criminal act.
But based on the same information, I see "corporate irresponsibility" and an equally irresponsible and complicent board. Yes, two people are leaving the board.. but still.. I wonder what type of conversations hapenned between eddie and the board members - they would come out under a fedear subpeoena.
I can't imagine how they can justify the share buy back to that extent and at these lofty prices..
As an owner of puts, my wishful thinking is that they would run out of loans to support their buy back program.. Unfortunately for me, I thought I read some where that they authorized another $750 million (or is it $1.5 billion?) buy back in the next 6 months! I would think that it is obvious to everyone that it is the buy back program, which is keep this stock up at these lofty levels.
Optionstrader.. you seem to be posting alot.. so.. what's with the institutions? They are holding 89% of the shares? Would they not be considering taking profits?
More wishful thinking that IF and WHEN the stock falls below $300, the institutions would dump it and take profits.. I assume that people made a lot, thanks to Eddie.. I suspect that Eddie is behind the institution holding that privately, he probably assured them great returns, for their investment...
Often, people who are too agressive and greedy tend to get themselves into trouble.. not all but enough of them.. I wonder if Eddie would get himself in trouble? He manipulated shld brilliantly. But now he is probably finding it hard to keep it propped up. His investment in BIG is, in my humble opinion, questionable - the the extend that I am wondering if he has become too arrogant to think clearly.. it does happen to super rich, when they have so much wealth.. .. but hey.. he is the billionaire and I am the poor guy! Really.. how can I even think about questing his wisdom..
Anyway, while hope is not a strategy, i bought puts only because I think this racket of AZO has gone on long enough and because eddie is almost out of it.. If he were in it substantially, I would not have bet against him..
So, what do you think of Big? Intersting that they lost money and the stock went up. I had seriously considered buying BIG prior to results, only because Eddie bought it at about $35.. and it was below $30..