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The St. Joe Company Message Board

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  • dpinsen dpinsen Jan 13, 2011 5:03 PM Flag

    Stopped out

    "Even if he doesn't buy the whole thing what do you think the form 4's announcing his open market buys are going to do to your puts?"


    That depends on what expectations are baked into the price now, i.e., did investors drive up the price this week because they assumed Berkowitz would buy all of JOE when the cap was lifted? If so, then some may sell if it appears that he's not going to buy the whole thing.

    I picked up $25 strike puts on $4.30 today:

18.85-0.49(-2.53%)Aug 26 4:02 PMEDT