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Memorial Production Partners LP (MEMP) Message Board

  • lexpress56 lexpress56 Dec 27, 2013 12:40 PM Flag

    igsteri and line trade

    Igsteri: Back at the end of November, we had the discussion about a three legged option play in Line and you indicated you pulled the trigger on a 20 contract 32 to 40 bull call spread, financed in part by the sale of 10 puts at a 23 strike -- ending up with $100 invested to make $16,000. Although I typically don't post trades, I did pull the trigger this morning on my own deal, although a bit more conservative. I just bought a 50/50/20 spread between 30 and 37 at a cost of 1.82 financed with 23 strike puts sold at $4. After commissions, net investment of $1,210 to make max $35k assuming LINE gets to $37 by Jan 2016. I may double this up after January expiry when some other trades unwind, but I thought LINE's dip to $30 made the trade compelling to go after. Good luck to us both in 2 years! Will be interesting to see what happens with my potential 29 bagger and your 160 bagger. If LINE doesn't cut its divvy, I trust we will be ok although we might not hit a home run. May the force be with us. Lex

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