M* says MMP last split 2/1 in 2005 when the pre-split price was in the low $30's. If that is correct, you are correct, IMO. Should be interesting if a split is added to other good news about earnings, distribution bump, etc.
They bought19M of warrants in Q2 for $43M, they announced. That works out to about $2.27 each, I'm late to the warrants game, but it seems like a very good bet and today's earnings announcement helps.
AS a long-time NRF investor and veteran of the NRF Board, I wonder what other companies the market will use as comps to NSAM, at least until it starts to compile its' own track record. How will the market value NSAM compared with those companies the market believes are its peers?
KMI seems to be approaching its golden cross, with the 50 day ready to cross the 200 day. Good technical sign that the market is starting to pay more attention to KMI's fundamentals.
That idiot trades better than you think. From Dan Nathan, Risk Reversal, who says the trade was:
"KMI - The Jan15 42.5/47.5 call spread traded another 30k yesterday for around $0.415, with the buyer adding to the initial purchase of 40k for 0.25 from last week (see Wednesday’s CotD post). Implied volatility in KMI has neared its 2 year high in the mid-20s after these two large purchases."
Part of that trade has already paid off and been taken off.
I half-expected this deal to go down by now but an auction would be entertaining. I think anti-trust considerations keep EPD out, but a Kinder vs Warren match-up would be fun to watch, since I own 'em all.
I agree, and soon. But ETE's announcement of a "large project" does not take ETE out of the running to be the acquirer--that project has been in the works for awhile, has been moving on a different track than the more recent merger discussions. ETE is a serious buyer, can raise the money, and TRGP is willing to sell. All that is really left is price negotiation--unless someone else wants to start an auction. We can only hope!
Thanks, it will be fun to see play out. I'm long $17 calls and $16 puts, kind of an uneven strangle with different expiry dates. We'll see how that works.
Selling insurance has worked for me in the past. But these will surely be post-spin puts--do all the NRF options remain when NSAM is spun off, or will the options be split with the companies?
Agree if you're only into units/stocks of MLPs, but options can be very profitable, have been for me. Plus, there are no K-1's in option positions.
Will these vessels pass through the enlarged Panama Canal? Can they be used in the Caribbean export trade?
Time to buy more KMI warrants!
Dan has an excellent website called Risk Reversal--you must pay for it, but he's made me lots of money and taught me lots about how options are actually traded.
In the report I saw, CS said they had modeled this deal earlier so they may know more about it than other analysts. CS liked the deal much more than the market, so maybe they can get it sweetened for ACMP. OTW, ACMP and WPZ seem to be locked in a death spiral, each bringing the other down as disaffected unit holders sell their shares. Neither group seems to understand or like the deal.