With warmongering on, oil price could pop and PTEN could spike. In any case, I am fed up. So yesterday I closed Sept 19 put at 45 cents with a gain of 16 cents. Just feel this time the war could go on longer. Too much uncertainty.
Appears that the court "confirming the First Amended Plan of Reorg" on July 25. This does not look good as the plan was to get you wiped out. After hitting bankruptcy 5 times in 15 years, will say you better keep your money under your pillow.
You are talking to self again. for your info, I closed the aug 20 put between 28 cents to 35 cents, one day too soon as it sank to 15 cents last tue. All aug 19 puts expired worthless. Now is good time to sell some 19, 18 strike puts. Did you see the tape action today? Nice premium. Dude, we know the folks were talking about 10-20 % correction. We will see how low PTEN would tank this time.
What's your take on the loss carryover? Can the creditors keep it to them without slicing a few shares to the old stockholders?
What's your take on TGICQ? http://finance.yahoo.com/mb/TGICQ/ Nobody there. Is it already dead for that one?
My loss for PMI is about 30k after making back the 15k with the dump of 21-26 cents. I used the IRA accounts to have made the PMI transactions. As of this moment, I almost made it back the 30k loss with about 3000 shares of CISCO put to me when it was in the range of $15-20. So, my IRA accounts were repaired somewhat.
I never lost money selling PUTs on PTEN. Just that at one time I was locked by the drop to $14-15 for half a year but ultimately I was able to double down to make money out of selling puts.
You appears to be the only one on this board. Are you buying my puts? I sold Aug 20 at about 55 cents to 78 cents, and will close them soon for a profit or wait for it to expire worthless. I also sold a bunch $19 puts for this month, and you could bet they are now dow to 5 cents versus 10-15 cents. Horrible for you, it must be.
I got out at a loss between 21 to 26 cents. Now I like to know whether this company could be revived at all. What about the loss carryover? I should have picked up a cart when it was 2 cents.
Apparently pumped in an organized way. See so many new faces on this board all of a sudden. I dumped about 70,000 to 80,000, all of them , from 21 cents to 24 cents. All gone. Of course at a loss. Forget about this nightmare for ever.
Where is the link to the news that there was an Appointment of OFICIAL CREDITOR COMMITTEE?
Is it too late to form an OFICIAL CREDITOR COMMITTEE?
I have some shares left and will need a spike to dump them. Should have dumped when it was 10 cents.
Your point is correct. The problem with the stock market is it is now on a possibly last stage of the rally, the parabolic move stage, if the war in the Middle East does not flare up in the next 1-2 months, enough time to complete this parabolic move up. During this parabolic move, ETFC will touch $13.
My biggest fear is that the U.S. enters the war against Iran through the back door at Syria. This will surely mess up the Wall Street party.
Indeed, 25 to 35 to 45. Incredible. This is a real pole.
In any case, I am dealing with ETFC like with dead wood. I was stuck with them since 1995, and could not divorce them as all trading records would be removed if I leave them. Recently, I was selling puts on CY and CRUS. I sold like 200+ puts on CY, and decided to close them for a small profit prior to its drop - because ETFC was coming down below $10 to threaten my margin balance. I would say than ETCF drop to allow me to clear CY puts. I also sold 150+ contracts of puts on CRUS, rode it down to $18 something, and closed them all on the way up to 20-21. I should have let them all expire by next Monday. The gain from CY was like 2000, while the gain from CRUS was from 12000. I bought and closed ETFC by 3000, 5000, 10,000 shares for a few cents gain when it was between 9.75 to 10.44 because I was hanging this overhang of too many puts on CRUS, and was scared of CRUS continuing to drop down. This trading is indeed for the professionals on the Wall Street, not for a person like me.
The only technical I learnt was the flag and pole I first came across 20 years ago. According to this flag and pole, Etrade should go from 10.80 to above $11 in a similar length as what it previously launched from, namely, 10.80 minus the base line at 10.20 to yield an upside potential of 60 cents at minimum. This means a sure price of $11.40 in the coming days.
04/25/13 Sold 100 of ETFC @ $10.375 (Order #1473) 1,029.48
04/25/13 Sold 1,393 of ETFC @ $10.30 (Order #1472) 14,347.57
04/25/13 Sold 200 of ETFC @ $10.315 (Order #1472) 2,054.96
04/25/13 Sold 3,407 of ETFC @ $10.31 (Order #1472) 35,125.38
04/23/13 Sold Short 20 ETFC Jan 17 '15 $10 Put(ETFC) @ $1.74 3,461.55
04/23/13 Sold Short 20 ETFC Jan 18 '14 $12 Put(ETFC) @ $2.40 4,781.52
04/23/13 Sold 3,000 of ETFC @ $9.932 (Order #1469) 29,787.34
04/22/13 Bought To Open 100 ETFC May 18 '13 $11 Call(ETFC) @ $0.06 -659.91
04/22/13 Bought To Open 20 ETFC Jun 22 '13 $11 Call(ETFC) @ $0.14 -290.32
04/22/13 Bought To Open 30 ETFC Jun 22 '13 $11 Call(ETFC) @ $0.14 -443.43
04/22/13 Bought 3,000 of ETFC @ $10.00 -30,000.00
04/22/13 Bought 10,000 of ETFC @ $11.00 -110,019.99
04/22/13 Option Assignment 100 ETFC Apr 20 '13 $11 Put(ETFC) ---
04/22/13 Option Assignment 30 ETFC Apr 20 '13 $10 Put(ETFC) ---
04/18/13 Sold 4,300 of ETFC @ $9.611 (Order #1462) 41,326.37
04/18/13 Sold 400 of ETFC @ $9.615 (Order #1462) 3,837.92
04/18/13 Sold 300 of ETFC @ $9.6103 (Order #1462) 2,883.02
04/17/13 Bought 5,000 of ETFC @ $9.548 (Order #1461) -47,747.99
04/17/13 Sold 2,500 of ETFC @ $9.7624 (Order #1458) 24,397.46
04/16/13 Bought 2,500 of ETFC @ $9.70 (Order #1457) -24,257.99
04/15/13 Sold To Close 68 ETFC Apr 20 '13 $11 Call(ETFC) @ $0.06 372.68
04/15/13 Sold To Close 32 ETFC Apr 20 '13 $11 Call(ETFC) @ $0.07 199.53
04/15/13 Sold Short 30 ETFC Apr 20 '13 $10 Put(ETFC) @ $0.31 906.40
04/12/13 Sold Short 25 ETFC May 18 '13 $10 Put(ETFC) @ $0.42 1,029.11
04/08/13 Sold Short 20 ETFC Oct 19 '13 $11 Put(ETFC) @ $1.55 3,081.56
04/08/13 Bought To Open 50 ETFC May 18 '13 $12 Call(ETFC) @ $0.05 -283.95
04/08/13 Bought To Open 40 ETFC Apr 20 '13 $11 Call(ETFC) @ $0.05 -228.58
04/04/13 Bought 2,000 of ETFC @ $10.108 (Order #1445) -20,223.99
I will let you analyze the below trades to see how you easily lost the chance to make big. It happened to me every time. Why? Because when you committed something like 10,000 shares around, you were freaking out on a daily basis, and wanted to close the big positions whenever the bounce brought you back above the entry point. Looking back 30 days, I realized that I should buy back 40 contracts for $11 call on Monday. ETFC could go above $11 any time.
05/03/13 Sold Short 1 ETFC May 18 '13 $11 Call(ETFC) @ $0.16 15.48
05/03/13 Sold Short 39 ETFC May 18 '13 $11 Call(ETFC) @ $0.16 595.74
05/03/13 Sold To Close 50 ETFC Jun 22 '13 $11 Call(ETFC) @ $0.35 1,716.23
05/03/13 Sold 2,000 of ETFC @ $10.7724 (Order #1484) 21,536.32
05/03/13 Sold To Close 100 ETFC May 18 '13 $11 Call(ETFC) @ $0.12 1,140.51
05/03/13 Sold 1,400 of ETFC @ $10.7612 (Order #1480) 15,065.34
05/03/13 Sold 600 of ETFC @ $10.76 (Order #1480) 6,447.86
05/01/13 Sold Short 20 ETFC May 18 '13 $10 Put(ETFC) @ $0.19 361.71
05/01/13 Sold Short 25 ETFC Jul 20 '13 $10 Put(ETFC) @ $0.53 1,304.11
04/26/13 Sold Short 25 ETFC May 18 '13 $10 Put(ETFC) @ $0.22 529.01
04/26/13 Sold Short 8 ETFC May 18 '13 $10 Put(ETFC) @ $0.19 147.87
04/26/13 Sold Short 1 ETFC May 18 '13 $10 Put(ETFC) @ $0.19 18.48
04/26/13 Sold Short 26 ETFC May 18 '13 $10 Put(ETFC) @ $0.19 472.49
04/25/13 Bought To Open 10 ETFC May 18 '13 $12 Call(ETFC) @ $0.04 -45.19
04/25/13 Bought To Open 16 ETFC May 18 '13 $12 Call(ETFC) @ $0.05 -88.24
04/25/13 Bought To Open 32 ETFC May 18 '13 $12 Call(ETFC) @ $0.03 -120.51
04/25/13 Bought To Open 21 ETFC May 18 '13 $12 Call(ETFC) @ $0.04 -94.81
04/25/13 Bought To Open 21 ETFC May 18 '13 $12 Call(ETFC) @ $0.03 -73.81
04/25/13 Sold 4,900 of ETFC @ $10.37 (Order #1473) 50,811.86
I added at 10.10 but did not when it went to 9.87. Just wanted to keep some margin power. So I added calls when it was in the 9.95 neighborhood. The margin was used up because I sold 100 contracts of $11 put averaging about 75 cents, for next week expiration, and I sold too too many puts on Etfc Jan2014/2015 $10/$12 strikes. Also, I sold 160 contracts of CY $11 puts for this month, and numerous Sept. and Jan14 CY puts, plus more puts on CRUS etc. I closed INTC and ORCl puts at a small profit, too early, but had to do it since ETFC was disappointing, going to $9.87 to pose danger to my margin balance level.
In any case, the foreclosure is to become a relic. See http://money.cnn.com/2013/04/11/real_estate/foreclosures/
Just hope the game continues for another few years so that Etfc would survive at least. Then some other dupe would come along, and hopefully Etfc will be bought out. The expectation is low for me. I am fine with being bought out at $12.5. The important thing is you want to tell your kids not to invest in stocks.
Now, I seriously doubt that the prospect for ETFC is any worse today in comparison with any time in the last 5 years. So I will hold out hope that things will improve, not worsen.
Techs had been correcting for two years. It is just seasonal that the Techs would not take the place of the financials for the next move up. See the semi for similar bottoming process across the board, including INTC, NVDA, LSI, CRUS, CY and etc. The last two days were like hammering a nail to create a pillar to move higher.
There is a good chance that RMBS will go out of the current range.
Fannie Mae Earns $17 Billion, It's Biggest Annual Profit Yet.
No reason that Etrade's loan portfolio won't have reversed loss by this time to give some profit.
This is the quarter that will be the division line.
The news should be read opposite way. Citadel's leaving is a signal that Etrade would be sold, not that Etrade has less chance of being sold because Citadel would no longer pressure for a sale.
Schw or amtd won't want to deal with a hedge fund which controls the majority stake of Etrade.