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Astex Pharmaceuticals, AŞ Message Board

buysell1929 7 posts  |  Last Activity: Jun 23, 2016 11:24 PM Member since: Mar 24, 2003
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  • buysell1929 buysell1929 Jun 23, 2016 11:24 PM Flag

    Actually, I think there is one with a split personality so he actually thinks he is talking to someone else when he is actually talking to himself.

    Anyway I doubt if any of his personalities understands the trade I posted since they are probably not allowed to trade options and are restricted to trading one or two shares a week as part of his therapy.

    Sorry for the non LVLT related post but I just felt I had to go on the record about him. Will refrain from this type of comment in the future as I don't think comments about individual's problems belongs on a financial board.

  • buysell1929 buysell1929 Jun 22, 2016 12:38 AM Flag

    You are the only one not on my ignore list to comment.

  • Getting bored I purchased an option spread on June 5th on LVLT:
    Buy To Open 100 July 15 16 $50.00 Call
    Sell To Open 100 July 15 16 $52.50 Call
    Net Debit $1.50.

    Waiting for someone not on my ignore list to comment.

  • Reply to

    This Board Is Not Worth Monitoring

    by buysell1929 May 27, 2016 12:25 AM
    buysell1929 buysell1929 Jun 7, 2016 12:33 AM Flag

    I think that one of the big losers was an employee of LVLT that watched his options crater and probably was laid off when LVLT took a dive.

  • Reply to

    This Board Is Not Worth Monitoring

    by buysell1929 May 27, 2016 12:25 AM
    buysell1929 buysell1929 Jun 7, 2016 12:30 AM Flag

    I got in originally when LVL bought a company I had shares in. The deal was a combination of cash and stock. LVLT was priced at around $5 at the time but the premium they paid reduced my effective price quite a bit. I have sold and bought them and options on them over the years. My current position has a average cost of a little over $44 (post split pricing).

    I understand the pain the longer termers have experienced but it has been over ten years and they should have passed through the various stages of grieving by now.

    Your are correct that absent the three you mentioned and the spammers pushing various web sites, none of which provide any value, the board is dead,

  • Reply to

    Short Sale Margin Requirements

    by buysell1929 May 28, 2016 12:13 AM
    buysell1929 buysell1929 Jun 1, 2016 12:43 AM Flag

    According to ecfr gov Regulation T §220.8 Cash account
    (2) Buy from or sell for any customer any security or other asset if:

    (i) The security is held in the account; or

    (ii) The creditor accepts in good faith the customer's statement that the security is owned by the customer or the customer's principal, and that it will be promptly deposited in the account;

    IOW, you cannot short in a cash account unless you can demonstrate that you own the security and it will be promptly deposited into the account.

    §220.12 Supplement: margin requirements.

    (c) Short sale of a nonexempted security, except for a non-equity security:

    (1) 150 percent of the current market value of the security

    As I said: Anyone shorting LVLT at $56 (around the 1 year high) would have to have $56 + $28 == $84 in their account for each share they shorted.

  • From investopedia:
    What are the minimum margin requirements for a short sale account?

    "Under Regulation T, the Federal Reserve Board requires all short sale accounts to have 150% of the value of the short sale at the time the sale is initiated. The 150% consists of the full value of the short sale proceeds (100%), plus an additional margin requirement of 50% of the value of the short sale. For example, if an investor initiates a short sale for 1,000 shares at $10, the value of the short sale is $10,000. The initial margin requirement is the proceeds $10,000 (100%), along with an additional $5,000 (50%), for a total of $15,000. "

    So anyone shorting LVLT at $56 (around the 1 year high) would have to have $56 + $28 == $84 in their account for each share they shorted.

    Let the short boasting begin.