What about fify? Think he might upgrade to sebeny fife?
Would he need to discuss matters with bondholders if he were planning a sale of the moly side of TC?
When you are trading diagonals they deliver the shares to the call owner you were assigned and mark your account as negative or short that many shares (if you didn't already have shares to deliver upon assignment). The bad thing about this in an IRA is you can't hold a short position on stock so they then email or call you asking you to clear up the trade or the margin department will do it for you.
I had this happen with Gilead options recently. I was long $67.50 August calls and short $70 August calls, and the $70 calls were assigned early (2 days before expiration). Etrade sent me an email and called me, warning me my account was short 500 shares of Gilead stock. I still had the long $67.50 calls and also $49,000 in cash so it was no problem. I just directed them to exercise my $67.50 calls for $33,500 which gave me 500 shares and cancelled out the -500 shares in my account.
I am now being proactive and not letting in the money options get exercised early when they get closer to expiration. I probably could have waited a few weeks on these Sept. $3 calls as a person would be a bit crazy to assign them to me when they have $0.15 of time value left. I covered today at $3.01.
I purchased the Jan $2 Sept $3 diagonal spread for $0.70 but with the Jan leg only trading at $1.08 and the Sept short leg trading at $.018 the most I can get out of the spread is $0.90 right now. Since I sold some Jan $2 calls yesterday for $1.10 it makes a lot of sense now to buy the stock at $3.01 or thereabouts and let it get called away by the Sept $3 calls while keeping the Jan $2 calls of that spread. Also beats getting early assignment, which is a hassle in an IRA.
Typically it is revealed an offer was made even if it falls through. I think it has something to do with shareholder responsibility. If Perron got rid of the T-meds just to save 10 bucks in interest at the cost of a fairly large dilution he is a moron.
The shipping companies used are Dreyfus (to Japanese smelter) and LS Nikko (to Korean smelter)
It goes by rail to the port. I am guessing Prince Rupert.
No idea if Jacques' brother is in Korea or Japan.
LOL sorry peanut butter, but I didn't buy common today. I sold some of the 180 Jan $2 calls I had been purchasing in the area of $0.85 to $0.95 for $1.10 and sold the short the 30 Jan $3 calls for $0.40 (probably going to regret that but dollas is dollas).
Yes I have indeed heard this theory that the market is always looking forward, but I think it needs contacts.
I am not making claims anymore about how huge a move it is going to make since I was very wrong about it going up significantly on a 100+% revenue increase from last year. I figure if that didn't move the stock then I don't know jack about what will. Now I just plan to make money trading no matter what the price.
Sentiment: Strong Buy
$4 by next week no way. $3.30 to $3.40 MAYBE.
Caveat some breaking news between now and next week, like an asset sale.
Oh ok I did not understand at first you were talking about adding a trade to my current position. I don't feel there is enough meat on the Jan $4 calls to make them worth spending commissions on yet. I can't get $0.40 for the $3 calls now (just tried selling some more) so perhaps I took out whatever buyers there were for those. Too bad because I would sell them all day long at $0.40 and buy the Jan $2 for a buck.
Say you get $0.40 for the $3 calls and can buy the $4 calls for $0.17. Thus you get $0.23 immediately but you have $0.77 at risk (note that I trade in a cash account IRA and thus cannot be on margin).
If there is a buyout or for some other reason TC trades above $4 by Jan you lose $0.77 per spread.
I like my way better, as I think it is far less likely to lose money (TC would need to trade under $2.45 by Jan 2015 for you to break even and need to trade under $2 for a total loss.
I think you are correct. Unless we see a buyout (which does look less likely as the days go by with no news on that front) I think this stock may be range bound to the $2.60 to $3.30 range.
$5 by Jan just isn't going to happen based on stock fundamentals alone. I am still bullish long term though.
Sentiment: Strong Buy
I deserve the thumbs down because I calculated the gain wrong.
Because I immediately get the $0.40, it reduces my original $0.85 per call investment to $0.45. Thus the gain at a Jan share price of $3 or more is $0.55/$0.45 = 122%.
To get an equivalent gain just buying and holding the shares (bought at around $2.72 where I bought the $0.85 calls) you would need to realize around $6 a share by Jan 2015.
This is why Do can have a girlfriend and a wife, but Light can afford a harem.
Sentiment: Strong Buy
These are covered by my long Jan $2 calls purchased at $0.85. I couldn't get $1.05 for them when the stock was at $3.03 ($0.02 time value?) but was able to get $0.40 for selling the $3 calls.
Max profit: $0.40 + $0.15 = $0.55 Gain: $0.55/$0.85 = 64%
Boys and Do's, this is how you make money even in a relatively flat stock.
Significant increase in volume. Woot Woot!
The moly market is going to be more than 550MM pounds. World growth will expand it to 600MM pounds by end of 2016.
Not rooting for it to lose value but since it doesn't trade with metals we know it will go down if there is a big drop in the regular stock market...and metals will go up at the same time (usually).