I sold a NRZ Call this morning ,bought it back lower and sold all shares for $12.735. Also dumped HFC Put and added to VRX. This was another good day for me, for whatever reason probable dumb luck.
Ockiote, Re:PSEC give me a wake up call at $5.50 and I will look at it . But it is amazing that PSEC and FSC get much more attention than much better BDC.
You might be incorrect. Refiners like low oil prices and high demand. The profit margin or crack spread is not in there favor currently.
I wonder if the market is pricing HFC Dividend elimination? I might look for a opportunity to close the HFC Put I sold today because $27.30 might not be a good price in September.
Bigbear, our RSO-B also did another hat trick. It's starts the day negative to scare old ladies and ends strongly posative day after day. It might peak in another $2-$4 ,I hope.
I have had two good days in a row, Today everything was green except for XLE with a Covered Call covering half the loss . RSOB,NRZ and NRF got the love today.
I sold some OTM refinery Puts to day for cheap shares and beer money. Might add some shares at some point.
NRZ earnings missed 1 cent earning 49 cents on a 50 cent estimate but easily covering there last 46 cent Dividend. Its a buy if you don't hold any and a add on any drop if you do. i,m currently not overloaded and will add on a drop.
Look at Joe Papa,s contract with Valeant. From my read he is paid what is considered CEO "chump change" unless the stock price is restored to $270 then he hits the "pot of gold". Papa must think he has a good chance for success in order to take the risk. I think Papa is the main reason for a rally. What actually happened at Valiant that was do bad ? What I see is a person(corporation being a person) selling something he owned for as a high of a price as possible and being attacked by the political class in a election year.
It might be you! I have noticed the farther I have removed myself from BDC and 3x Short ETF the better life is. A surgical BDC trade has been the only winner.
Looking at CKRR and other refineries, I saw no buy signal . CKRR might deserve more pain than the other for cancelling the Dividend. More pain to come.
RSO Preferred up big again today. I read on the RSO MB the company is buying there own Preferred because is such a great value . RSO-B went over $19 on the close. NRF which has had there own problems has there Preferred at $22-$24. I expect RSO Preferred to join the other Preferred and be called at $25 Par as soon as they can arrange financing. There is little reason to pay 8-12% interest in a a zero rate world . No idea of a time frame.