Arsh, I really hate to rain on you and Ben's parade but the offering for HTS was not excepted very well. They are having a hard time selling the 11 million shares. Not sure what to make of it so I sold all my calls today with a big whopping gain of .05 a contract.
Not sure if there is a fundamental change brewing in the MBS industry or if the weakness is specific to HTS. In any event, good luck to you guys as I hope I screwed up and you guys do very well.. Make $$$$
I would have to confirm with IR whether the offering was fully subscribed. I did that with IVR and found that it was. What I think is happending is that the holders of the shares are not selling them yet this early in the cycle. Anyway, I can't imagine not getting to $30 anyway. Let's see how it goes, and you have not rained on my parade. I saw this coming before I bought, so I went deep ITM. I wont' lose, but it wasn't going to be quick pop.
I have gone heavy into the June 25's at an average cost of $4.21. Intrinsic is $29.21. It would seem to be a good deal in the near and long term, considering the price last quarter hit $31.50 after a dividend reduction.