management is mad because we didn't give them more cheap stock options so they are dragging their feet on Mt. Milligan.
just joking (I hope)
I keep sniping these trades on the dips 3000 shares @ 3.266 after having sold them friday for 3.42. Small amounts, but I get 100 free trades with wells fargo so gives me something to do while I eat lunch.
Maybe I will get my cost basis on my 8000 share core down to $0 this way :-)
I reloaded with 3000 more shares. I had sold some at 3.60 and 3.78...today was so great...I was able to repurchase them at 3.277 (market order). Now back to 8000 shares plus a few call options.
Biotech is pure risk...even a sleep disorder drug could have some unknown side effect then bam, bankruptcy.
or OSHA...they will bend over backwards if you go in there as an OSHA inspector :-)
It is called a "buy-write" and you can do it in a non-margin account. All you have to do is get approved for level 1 option trading. I do this kind of trade in my IRA all the time. I did a buy-write on Microsoft when it was $25 (sold Oct 2013 $28 calls for $2 and thus paid only $23 a share....but in hindsight I should have just bought and held the Microsoft stock because I definately will get called away!)
For the TC stock, you would thus only need $1.20 per contract assuming you could sell calls at $2.20. If you can only sell them at $1.90, then you need $1.50 per covered call. I kind of agree with you to just buy the common for a 100% gain, but if it was my mom's money, I would be tempted to go with the 33% to 66% gain and low risk.
buy 8000 shares of TC common at 3.40 and at the same time sell 80 contracts of Jan 2015 $2 calls for 2.20 each. This costs you $9600 and makes you a profit of $6400 if TC trades above $2 at the Jan expiration. You don't lose any money until TC drops below $1.20.
Spend the other $400 on beer.
examine a seller of the $2 Jan 2015 calls. If they bought TC at $3.60 and sold the $2 at $1.65, they would have a max profit of $0.05 for a 1.5 year period, while risking $1.95. That is a 1.5 year return of 2.5%. This means the bid of $1.65 is not correct when TC is trading at $1.60. The true bid should be around $1.80...which stilll makes the spread large, but not quite as large as you saw.
I would sell like crazy at 1.81...what a gift. Makes up for the negative dividend you had to pay recently.
I would never do that. I only cross my fingers that it shoots up to $500.
I flip a coin to make the actual decisions
Nice, my order filled at 12:57 at 438.15
500 shares on margin...crossing my fingers for $500
I needed the cash and can't wait for a seeking alpha article on how much value this company has to pop the share price for a week.
margin interest in my account is really low right now
fortress balance sheet? they have near $9 per share in cash and a $7 stock price. That isn't a fortress, it is a friggen nuke armed country.
We just had a bridge collapse in WA state. There are tens of thousands of bridges that need replacment in the USA alone. I was in Costa Rica a few years ago and the bridges were still being made of wood, with some steel tubing thrown across the rotten portions (fun driving that).
China keeps having babies, India keeps having babies, Africa keeps having babies. The world is getting more connected with technology.
I would be shocked to see Moly go back to 1999 prices when the world has changed and grown so much and people are demanding a higher standard of living.