With the wonderful resdults PWE has gotten inMarcellus and Bakken plays,
PWE is now more in U.S.than in Canada.
But that's OK, facts don't matter when you want to try to "scare" people into selling you shares at 50% off their value. I shouldn't complain - you're doing good work for me.... I've been able to accumulate cheap shares, just like Cramer with his "sell PWE (to me)" recommendation.
I assume you're talking about the November call. I'm waiting for the bid to be a higher. TWO is getting more volatile these days, one day there is tapering talk, the next day interest rates slide back. Its wild.
So they need to pay a bit more for calls - we take all the downside risk, they take all the upside potential - all for 20 cents ? Not for me.
Calculations look about right to me. I just want to add two of my thoughts/observations:
(1) I also think a "big player" was selling. But I think it was a fund with broad REIT holdings
and they gave an order to sell X percent or X dollars of their total holding, across all their REITS. Since OLP is the smallest in market cap, it suffered 4% decline as a result of this "autopilot" selling, while the other REITS (10+ times bigger) only dropped 1 or 2 percent.
(2) Also, someone had an interest to push the price down, as there was an "automatic" sell at the close at the day's average price (common for last day of quarter re-balancing by funds).Check the tape, at 16:00:23 (23 seconds after 4PM) 110,321 shares traded at $20.28/share. This is about the same volume that traded all day long in OLP.
I also bought back today (no, I wasn't the market maker on the 110,321 share trade - I can only wish). This is a high quality REIT, yielding 7% (in a 2.6% ten year treasury market, WOW !!). When I say "high quality" I am talking about high quality assets as well as high quality management (just as important). Its just a matter of time before some high profile analysts issue all kinds of positive recommendations for this one. Maybe after the dust settles from all the political chaos.