He who laughs last, laughs best. I covered at $948 so again, the run up doesn't concern me. All PCLN does is book hotels & flights. It's not deserving of a $1,000 share price. I will be shorting it again. It dropped $60 in something like 5 days not that long ago.
Thing is there isn't much to say about Pfizer. Boredom is its calling card.
My PCLN trades seem to be more entertaining.
JCP is dead money walking and this is the worst company you have written a put on. In fact I bought puts when the stock was at $9 and am up nicely so far. This company is a joke, a disgrace, and a textbook case of incompetent management. You will lose on this one, Alan.
Have you noticed that the market is in full retreat lately? I still have the PCLN, doesn't look good but also bought some LNKD and JCP puts at the same time, up on both of those. So everything is fine...thanks for asking!
Covered the put position today at $2.16, they were bought for about $1 each. Profit of over 100%. Anyone else want to comment about how I don't know what I'm doing?
Have YOU noticed that Pfizer hasn't done anything of interest in like....forever? World's most boring stock. Do you have something interesting to say about PFE? If not then don't worry about my postings on other topics or stocks.
You were warned about this one. Possible BK coming, and sooner rather than later, even with the recent stock offering that they managed to fleece people with. You are going to take a bath on those puts you wrote.
You finally made a bad call on these investments. Only reason JCP is still even open is because of that new stock they just issed, which is the single worst investment I've ever seen. Can't believe someone would buy that #$%$. It will be interesting to see if 'in the fullness of time', you manage to reverse losses here. I will be watching with interest.
Bought some PCLN puts (Dec $700 strike) and LNKD (Dec $140 strike). Both of these are at unsustainable levels. I will report back later with results.
I closed my short sale position in PCLN a while back and now have only a few PCLN puts and a few LNKD puts. Can't believe you are comparing your dire situation in JCP with my small and basically meaningless put positions in PCLN and LNKD???
CASH --- not enough
INVENTORY -- way too much, and overvalued
FIXED ASSETS -- a whole lotta real estate in big malls
PAYABLES -- Many
SHORT & LONG TERM DEBT -- Ha Ha Ha Ha Ha
NEXT STEP -- contact bankruptcy attorney.
You might as well have simply bet $14,800 on a coin flip instead. You seem to be unable to admit when you are wrong on a stock. And I'll say it again, you are damn lucky that they were able to issue new stock recently. Otherwise the BK attorneys would probably already have been called.
While I applaud this move --- I would suggest that you don't recommend any more garbage stocks like JCP for your clients, otherwise you will have the shortest executive career since that Pope that got poisoned. (To borrow a line from the movie Wall Street)
If JCP was that great to begin with, why did they need to borrow all of that money? JCP and Sears and K-Mart and probably a host of other stores are on the losing end of history while Wal Mart, Amazon, e commerce in general are on the winning side. JCP is a dinosaur.