Back into WNR with purchase of Jun call options. Would rather have July, due after the merger, but not available. If your a long term buyer, $22.60 - 23.25 is a very attractive price. Options are a lot more risky, but the prices are good. GLTA
Greeting Jet. With the stock price in the $22 range, I thought it was time again to try again. Almost did it at $25/share, but option prices were high and some macro's at the time did not look inviting....saved by the bell! I'm looking to add to my position at maybe a slightly lower cost before the end of the week.
I can understand the sell off. We have very low Q1 earnings and very high national gasoline storage numbers. Investors are driven by three-month performance numbers. I also think some investors now feel the pricing of the NTI units is too high given the current pricing of refinery shares. WNR is down 52% over the past six months, worst of five peers I compare.
I was happy to see management's decision to delay capex spending on the El Paso refinery expansion and a new pipeline. Smart and timely move. I also think they will make an effort to maintain the current dividend if things look to improving in the near future. GLTY&A
Could happen. I know one analyst is calling for $18/share. Does GS have anything to gain by driving the WNR price down before the NTI deal is closed?
Hi Bogey. Yes, I knew it was you, why else would I sign off as "nortie", OK maybe to twerk Henry :)) Hope all is going well for you. I'm still here playing the ups and downs of WNR, and very profit driven I might add. Bought some more June calls today, near the end of day, at my low bid price. I think we go a little lower Friday and start to recover next week and beyond.
Still remember buying my first shares at $4.30. Wish I had held them longer :) GLTY
Great to hear from you Bogey. YES, that would be a great buy. It's well after the close of the deal on NTI (June 23) and investors will be licking their chops anticipating the huge cash influx from the combined WNR/NTI Q3 earnings. Checkout the Sept $25 calls also, looks like a slightly better bet. GLTY!
Don't pay the ask price. If prices are falling you can at least get the mid-point between the ask and bid and likely even closer to the bid. If the stock price is rising try for the mid-point or maybe a notch towards the ask, but only in extreme "I gotta have it now" moments, ever pay the ask price. You could have bought the Sept $27 calls for 10 cents more. GLTY & have a great weekend dreaming about your wild profit potential :)
Hi Jet. Yes, it was mention in some recent presentations and I believe it also was brought up at the CC. NTI has called for a meeting of unit holders on June 23rd and will vote on it at that time. WNR has stated they will close on the deal shortly there after in June so it is finalized before the end of the quarter.
You would think it's built into the current price since everyone considers it a done deal. But, I'm sure the actual event and announcement should give WNR at least a small kicker. I'm looking forward to the next earnings report.
Your screen name sure lets me know it Bogey! Haven't heard from Mikie in some time.
$23-23.5 is a resistance area we need to clear before a takeoff to $27.
Here is a stock tip from me to you as a repayment for the AVNR bonanza I received on your (& Mikie's tip). Checkout CUI (CUI Global), they have a new technology that will sky rocket over the next few years. It's at about $6/share now, going to $12 within a year in my opinion ( and the analysts). I firmly believe Honeywell or some other instrumentation company will buy them (partially?) up within the next year. GLTY
I live in the heart of NTI county. They have very little competition here. One Koch refinery towards MPS airport that serves that area. NTI has St. Paul and western WI much to itself. Right now they are undergoing an upgrade of the refinery, not sure what effect that is having on Q2 production if any. It has long been a profit center and I'm sure will continue to be.
Hi Bogey, that may help you in Sept. but I got June calls that are in a world of hurt. I do think the merger close will help and WNR just borrowed $200 million more to maybe use to buy back shares. GLTA
You think your hurting, how about my June 24 calls :(
On yours , I would say this stock could make a recovery after the June 23rd vote on NTI followed by a good Q2 earnings report in early August. GLTY