Good and wise advice! All I know is the April $3 puts will trade over 100% what I paid at some point in the next 41 days. That means they will be 70 cents or higher.
Now have 1100 at average of 33 cents. This is my huge April bet ya'll- so far up 20%!!!! They are 40 cents, my current gain is $6689.00!!!! I want to make 100K!!!!
Notice how even though CHK moved up from 4.50 to 5.15 those puts are hanging in? This is going under $3 in the next 42 days for sure. Already fell back from 5.43 to 5.16 and further plunge possible before close.
No! Going to be a fun 43 days!!!!
And stock could hit zero by April options expiration so the puts would be 500% gainer!
We'll see, I am 100% sure this is under 3.50 at April expiration, and under 2.50 almost certain.
I don't know if you're talking to me, but I never bought Jan 2018 puts. This stock is going way under 3.50 by April expiration, and probably to 0 by 2018.
There is an article on seeking alpha now about the bankruptcy risk.
What amazes me is anyone would buy the common given what you posted! There is no way it has any value!
Very eerie- stuck at 1.56X1.57 for ages, then dropping. I really believe bankruptcy will be announced and it could come any time- maybe this month, maybe next month. I won't be shocked if the 10K reveals a true disaster if and when they file. Not paying the preferred is the signal.
Also bought some of the 4.5 puts for 1.21. With the stock at 4.35. My break even is 3.29 on those, and 2.94 on the 3.5. Easy easy, 43 days to go!
And folks, this is just the beginning.