thanks for the lesson... I've been trading options for 30 years... I know how it works. lol
vwap = volume weighted average price. sort of helps define max pain although market volatility can easily trump the max pain theory
if it closes today with the doji its showing now, I'll look for a break above or below todays hi/low... below I add, above, I wait. but probably not for long.
what is the basis for your comment below about the .30 price of the 65 put? Are you looking at vwap for the weeklies?
you may also run into "good faith violations" which entails entering and exiting a position using unsettled funds but this would only impact you if you don't have any day trading buying power on your acct balance.
DDD will bounce from these AH levels... just like it did this morning. And if you don't sell into that bounce this time then you're even stupider than I already believe you to be.
this isn't a good time to be dipping toes in. 3-4 weeks from now this is probably a sub-$10 stock. Sell now and wait dfor it to bottom and start moving up. DONT BUY BEATEN UP STOCKS until the indicators say they're reversing. This one needs to shake out and find a new base. its not at 14 or 13. Gonna be a painful ride down, tomorrow is gonna be ugly(er)
Nothing but lip service. He could have given an estimate of how many ballots were received prior to their refinancing announcement which would provide some understanding of the impact it might have had. He didn't. He also fails to mention why they were scheduling a vote before employees could make a fully informed decision. This is PR nonsense to bide time while he tries to figure out what the hell to do now.
"While we are disappointed in the outcome of the vote, we believe that timing of events related to our refinancing did not work in our favor. Many employees had already returned their ballots prior to December 23, the date the company announced it had a refinancing agreement in place. We believe that was information employees needed to make a fully informed decision," said YRC Worldwide CEO James Welch.
Ah yes... that ol' line.
"In summary, the road ahead will indeed be difficult for YRC trucking given their thin margins, heavy union labor costs, very heavy interest obligations and challenging competitive landscape. Other trucking companies are already warning Q4 is not likely to be pretty given the severe weather in the U.S. and the changes in trucking driver hour minimums. The market reacted to the recent "refunding" as if the company had made an enormous gain on its heavy debt load. In fact, the gains only appear to save $10 million to $20 million annually, not the $50 million quoted in other publications. We see the refunding as more of a desperate move to release collateral for re-negotiation of their larger $625MM term loans and ABL facilities, - the true "owners" of the company, not the shareholders. YRC itself has stated in its 10K that its assets may not be sufficient to cover its debt if its liabilities are accelerated. We wait for what the auditors will say in this 2013 10K whether they include language of a "going concern" nature or not. With such a large debt overhang, negative equity, thin margins, and the oldest trucking fleet of the majors, we do not see how any EBITDA target (or covenant) could be met in the next two years."