Essar Steel Minnesota has filed for Chapter 11, the official reason is the litany of bills and the Governor scrapping their leases. The real reason is most likely the dumping of cheap Chinese steel.
US Steel is also at the mercy of Chinese steel dumping.
Therefore I think a reasonable bearish trend will persist, so a 2 week out 10 delta short put should make some nice money. Should X breach 50 delta then do a Diagonal roll farther out and farther down for net credit.
Obviously you do not have a pulse on the market and you dont understand Flash trading.
Search for this guy Navinder Singh Sarao he made around 35million$ in a flash crash that he manufactured.
The last time someone did this he was arrested, look at the after hours chart at around 5pm BABA fell to 65, and then almost immediately went back up to 79.
Trade fllashing is forbidden but people do it like no tomorrow, disgusting.
150K Revenue in 3 months after posting 2million year before.
Filing form 15, effectively terminating registration with the SEC.
CEO pays himself and other staff 1.8milion$ in the same period.
Say buh bye to your money , goto OTC to see the details, unaudited fins are there.
I want the stock to go through the roof, then all short options expire worthless.
! Sheesh idiots and their money.
Hey moron - as a Put seller I WANT the stock to go through the roof!
Sheesh idiots and their money, just give it to me,man, easier than taking candy from a baby.
BTW I am not short the underlying. Never will be.
Outright approval, based on the potential market around 35 i think.
There is no way this drug will get approved, coulda shoulda woulda will come to haunt you if you go long.
The results just dont justify approval, furthermore, it isnt even effective.
But that being said, at best the FDA might tentatively approve sales at-cost, meaning SRPT can only sell enough to recoup their R&D costs. This means squat for shareholders but at least helps the balance sheet.
If this happens expect it to settle at 15 or so.
If theres an outright rejection then the stock immediately plummets to 10 and then gradually to 4.
In the meantime, IV is very juicy at 400%, take advantage and play the corners.
Sentiment: Strong Sell
Seriously Adidas, youre going to give money to that no good, blowhard, self promoting piece of stale #$%$ Kanye?
I will never buy another Adidas again.
BTW i figured it out its called a Ratio Spread.
Only few brokers offer it , in others you have to build the legs separately, like I did.
If you dont know something, or know half baked stuff dont spout off nonsense.
What is this strategy called?
I played individual legs but let me know if theres a name.
Whether you like the stock or not, the sale to TSLA opens up some nice trading ideas.
The 24.5/24 Aug ITM Put spread is paying 27c.
Since the Bull Put is ITM theta decay till Aug is your profit, in addition since the TSLA deal puts the SCTY share price in the 24 - 26.5 range, the Put spread is very low risk, chances are the stock will end up above or ATM, leaving you with almost full profit.
27$ for 50$ of risk, max loss of 23$, pretty good return of 54%.
Looking at the financials, they seem to post YOY gains,, so why the heck hasnt this risen since last year?
Instead it seems to be plumetting or at the least trading in a narrow 15-17 corridor?
Wouldnt you expect this thing to skyrocket with 61% yoy gains?
What am i missing, why isnt this rising?
I have traded this ticker around the edges since Jan.
That being said even as we speak I have open Puts but just dont want to be long the stock.
Dont mind the derivative, but would never own this. I think FLSR is better.
But hey for a ~20$ stock thats some terrific premium SCTY offers.