It is relevant but RIG and SDLP are very different. SDLP provides funding to SDRL, which already cut the dividend. If SDLP reduced the dividend to zero, and therefore reduced payments to SDRL to zero, then how could SDRL possibly survive? Well, actually maybe SDRL won't survive.
No corresponding drop in SDRL...just a low volume thing?
I am probably the bond guy here now, unless some other is less vocal which is entirely possible.
I only hold the 2019 bonds right now though. Because of cash on hand and cash flow, I do not think TC will be going bankrupt soon, if ever, so the 2019 had the best risk/reward, especially at 61 of par (when I bought them though they were more and the 2017 were trading at 106 of par)
They are better than equity aside from the small recovery you may get because they cannot be diluted.
TC streams the remaining gold before bankruptcy anyway, so watch for that event first.
I do not think TC is going bankrupt though.
They have not missed an earnings in over a year. Just sit back and collect the 3% dividend that only consumes 20% of the profit. In other words, that 3% is rock solid, better than a 10 year US treasury.
Thanks smile. I have s_caldararo on ignore but I did click show post to see what he was babbling about...typical stuff so he is back on ignore.
I just purchased 3k shares at 4.859
Smaller than what I would have but you know with this China stuff, got to keep some spare cash for the real wash out days.
I figure there is a bottom here around $4, and upside to $6, both near term. $4.86 per share tilts toward the risk/reward in my favor by a smidge.
You joke, but just from your post I now see people standing in line at the Apple store around the block waiting to be the first to buy an i-toilet.
If you think they did not buy back shares on Monday with that type of price movement and volume, you are delusional.
We won't know how much of course until it is reported in later days.
I made a tidy sum on Gilead during the Monday flash crash and subsequent Tuesday recovery. I could swing another 5k shares of ECYT in addition to my core 5k if there is a good chance of a pop to $5.50.
I guess we have a bit of time before Sept 7 to purchase? Volume seems low. Maybe wait for another China scare later this week and buy ECYT for $4.80?
Happy doing business with you. Always here to buy anytime you want to unload cheap.
110 calls at that strike is pretty huge. Was there even enough open interest?
I see a lot more for the Jan 2016 strike in the 100 to 110 range.
I'll even agree to give you a bonus....esp if you got them sub $100.
All disease has ended and Gilead will go bankrupt
Gilead just bought back 4 million shares at sub $100 and will earn 17B in profit next year.
Filled 20 at $9.50!
Ok Gilead, just be at $104 or $105 (or higher) in November and I get a 55% return.
I hope they bought at least a million of them. Hopefully spent less than $100m on that.
Management might get a few millions from the billions in buybacks, but if they keep making purchases like Pharmasset, who really cares?
When you look around for the best value to invest your money as a company, sometimes you see the best in the mirror.
Flash crash no fun if you can't buy in a flash.
These things always go lower than one would think. If $103 looks possible then it will go to $95. Which means it probably goes to $90.
The question is, when to really buy big. It will be a very sharp V recovery in price to above $100 when the market realizes Gilead is still growing profits quarter after quarter.
I think load up at $90 with whatever you didn't spend at $105.