What the heck are you talking about? There's 133 open March 30.50 Puts out there, hardly Soros size numbers.
It's back to a more reasonable price, but I suspect it will drift lower for awhile. With the last reported book of $16.69, people paying in the high 17's or more were absolutely crazy. Company declared an extra dime div and the price jumped $2. As Cramer would say, "they're nuts, they're nuts"
I've wrestled with OAKS and owned it a few times but the low volume turns me off to it. Try to buy/sell 500 shares and they trade you 1 share or maybe 100 and then you sit for hours a penny away from your order. ORC is a bit better and that's what I'm holding currently.
What planet are you living on? My insurance rate was going to double under ObamaCare.
Want to end this madness? Pass a constitutional amendment that prevents Congress from exempting themselves from these lousy laws. If they had to live with this nonsense they'd never allow it to happen.
I used to hold much more of these two CEF's than you do now. But look at yesterday, assets fall a couple pennies and the stock price rises 6 cents. The premium is now approaching 17% and
I'm sorry but that is just crazy. It should eventually fall hard and get back to historical norms and then I'll be back. IMHO, the risk is just too high right now.
I've about had it with SA articles. Write a comment the least bit critical of the author or question his motives in any way and they remove it. How can you get an author to respond or defend against a little negative feedback when they always delete it? They remind me of liberal college professors that can't stand for anyone to raise an opposing point of view. There are some good authors that really dig into the numbers but more and more I see SA as a tout board for hidden agendas.
You can always find the flaming idiots. Just find for any stock that is down on any given day and these morons come out like crabs on a Kardashian.
Except when BV gets above 10%, that should give you pause. Lately several of my favorite high yielders have gotten way above historical premiums and I can't help but wonder when the other shoe will fall. Dropping book values seemed important last year and now NCV, NCZ, OXLC, NYMT, and WMC all seem to be ignoring historical book to premium relationships. Not bashing, just perplexed by it all.
And with book at 6.33 they'd issue a billion dollar SPO. But dream on. I love NYMT but you can't lose focus on book value.
I've played that game many times in the past, always with the same end result. It works for awhile and then you miss one big move that makes up for all the little gains you've been making. Sometimes I think they do it on purpose so nobody can game the system.
You must have learned your math in a public school. A 10% gain is a 10% gain regardless of the price. Why would you give up a "slightly better" return for less volume and a lower price? Makes no sense. But then again, if everyone could reason and think logically, we wouldn't have an utter buffoon for a president.
You sure get long winded and say much about nothing. Only an ignoramus would say being anti-abortion is being anti-women. But it is typical left wing tactics to label anything you don't understand as hatred and racism. You understand nothing about how wealth is created, nothing about the pure evil of govt confiscation and redistribution. Your mindset has given us Obama, the closest thing to Stalin in America's history. You are exactly the reason this country needs charter schools to give children an opportunity to learn rather than being indoctrinated with hatred against anything they can't comprehend.
Just how many id's do you have? You don't even change a word, just keep posting mindless gibberish on one message after another. And take that dude stuff back to the 80's where it belonged.
If only it was that easy. Just spend $50k to get some SA articles written, then make millions on stock sales. Wow, I think I'll start up a company and before you know it I'll be looking down at Warren Buffet on the richest people in the world list. It just gets more ridiculous by the day.
I can't stand the bashers anymore than you can, but do you really think the SEC gives a rat's patootie about some bs on a message board? It takes them years to get to a Madoff so give this SEC junk a rest.
Gracie, a month ago you had BV in the mid 14's, now you have it in the mid 15's. Not calling you out, just wondering what you've seen that indicates book is now that much higher?
Than why not eliminate stock trading since a large part of the trading is manipulation of the large hedge funds? Face it, everything is manipulated by the large players but that shouldn't mean we should stop all trading.