TGNA blew away estimates and still closed down over $2 that day. Didn't see anything concerning in their numbers, not sure what happened there. I almost bought before the release knowing they would beat since they had just given their estimates a month before when they broke out their publishing side. Luckily I got busy and did not buy.
Just cleaned up, I have no position right now. The Vix hit 12 yesterday, every time that happens we have a selloff in stocks. If we can get a couple more days of selling off I'm going to get back in.
I sold out yesterday afternoon. I then shorted 2915 shares at 17.28-17.30. I am in the middle of covering those shorts right now at 16.96.
I'm selling the call options month to month. Little more risk, lot's more profit if correct. I have sold calls covering all my shares with a strike price at $29 and they expire today. Fun to watch them almost hold it at $29 today. Be curious to see if it ends just above $29 if they'll take my shares or not. They can have them, I'll buy them back Monday.
I would not sell calls against my shares for November. I think we'll see a run before then and you would be left out, not counting the premium you earn.
SBGI will not be bought out but they will sell some spectrum in some key markets. They'll get a little under a billion for what they are going to sell.
I need you back on the SBGI board, We are selling off and I need your contrary support by posting negative rantings to help support the stock.
When 144K shares of volume takes the value of your company down 30 million dollars and the company has cash and authorization to spend that cash on shares, YOU NEED TO DO IT. Don't let the short base take you down without some pain. A 20K share purchase will take you back up.
Dems and Republicans are supporting this bill. There will be more legislation attempted later this year to widen the ownership limits. I think the government understands largely due to local broadcasters and the NAB beating the same drum for 2 years and finally getting the point across.