Sold more BRLI 37.5 puts today with a nice premium. IF put to me my cost for the OPK shares would be $13.35.
tells me there is still some doubt but with the move up today i believe it's likely to close later in the quarter or early in the 4th quarter..mw
the merger is expected to close in the 2d half of this year. it's been less than one month since the announcement and the arb is WAY too high still to assume an early close in my view...mw
well obviously i didn't get that trade off. i do have hundreds of short puts on OPK prices 10-11 but that's just an income play. not sure why opko woke up this am but frostie the showman keeps buying...good luck
yes. at the close the $35 calls were at $6.30 and if you really believe you could sell the $40 puts and lower your cost by $3.50. you could end up owning OPK for about $13.75. i'll be trolling the chain in the early am. mw
standard answer from the shorts. never read the post just bash. like i said you had your run but for the last 4 years if you've been short you've lost it all back....and then some..
This stock is up about 13% ytd while the s/p500 is up 2.5%. Thanks to all you shorts out there helping the stock move higher. you had your day now move on..nothing here..mw
so why not buy BRLI? seems like a great arb and you get OPK for about $14.60. no brainer? or is the market worried this deal won't fly? i'm short the BRLI puts and happy to be assigned but doubt i will be..mw
it appears he stopped buying during the deal negotiations. not sure if that is required by law but his previous purchase was on 5.13 at $15.55 then yesterday at $15.95. so maybe he didn't like it above $16 or decided to wait for the deal to be announced. the next week or so will tell the story in my view...
Interesting that Dr Frost bought continually right up until May 13th then stopped. His last purchase was at $15.55. I look for his buying to resume soon. I've been shorting the puts of OPKO for several years now and it's been a money machine. Now i'm shorting BRLI puts as the arb is too good to resist at this time...fwiw..mw
and if it doesn't hold $40 i can see $36 and change. today 5.8.15 doesn't look that good for the bulls. i'll be looking to sell puts under $40 if we see this kind of weakness..mw