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The real question is when is he eligible for parole?

Well, this trade taught me a thing or two. Sold GM June 1 Calls at 34 cents, 29 cents and 10 cents for an average price of between 23 and 24 cents after commissions. On June 9th, I got assigned on the calls which means I sold short GMGMQ at $1. Of course I couldn't find any borrow so the margin...

No. GMGMQ, the "old GM" will eventually be canceled. When GMGMQ is canceled the shares will be literally worth zero. When GM comes out of bankruptcy, there will be "New GM" shares. Owners of GMGMQ will not received any of the new GM shares. The timing is not certain, but the final outcome is...

I am new to rules-based / automated trading systems. I want to design, back test, forward test, and implement a rules-based trading system for futures and spot FX. I don't want to reinvent the wheel. Is there a "standard" software package for this type of work? Which software packages would be...

The ticker symbol on the Pink Sheets as of June 2nd will be GMGMQ http://latimesblogs.latimes.com/money_co/2009/06/traders-are-still-having-fun-with-general-motors-corp-shares-today-the-stock-plunged-as-low-as-27-cents-this-morning-after.html

This still looks like a good trade to me. Today, June 1st, GM formally applied for chapter 11 protection. Stock is trading around 89 cents. 2 possibilities around the June expiration. Stock below $1, calls expire worthless. If GM is above $1, then roll the short call position to July. Eventually...

Thanks for the clarification. As I understand, current equity holders of GM will not receiving any part of the New GM. I'm short June 1 Calls and happy so far. I've entered my buy to close order with a limit of 1 cent. Now, just sit back and watch the train wreck happen.

Link please.

http://www.bloomberg.com/apps/news?pid=20601087&refer=top_news&sid=a26dHH0N6LvY

anybody playing the GM single stock futures against the options? GM June Futures trading $0.56 to $0.62

Good point. That's why it's important to keep your position small relative to your overall portfolio. GM is expected to make a bankruptcy filing on or about June 1st. If they don't or if the politicians bailout existing stockholders of GM, then the stock could zoom next week. But if they do file...

If GM files for a bankruptcy reorganization on or about June 1st, 2009, I think the GM stock may follow the pattern of FNM or FRE when they were placed into conservatorship of the FHFA. FNM and FRE still trade but were wacked down pretty hard on the announcement. I expect GM to be knocked down...

DETROIT, May 28 (Reuters) - General Motors Corp (GM:$1.282,0$0.132,011.48%) and the U.S. Treasury on Thursday made an improved equity exchange offer to bondholders with $27 billion in debt intended to pave the way for a quick bankruptcy process for the automaker. Under the proposed deal, which...

I'm bearish on GM, so on 2009 05 27 I shorted some GM June 1 Calls at $0.34. I would have liked to just shorted the stock but I can't get any borrow, so I thought this was the next best thing. I've heard that current shareholders will receive 1% of the new GM stock, assuming the company files...

Velocity Futures quoted me an all-in round turn rate of $3.98 per ES contract. No minimum monthly trading requirements. However, that's using Ninja Trader as the Front End Platform and not X-Trader. With X-Trader it's $4.73 per RT. Another firm I like is Go Futures. They charge $4.30 per RT...

Out of curiosity I just looked at time and sales from April 28th right before the halt. At 13:25:54 I see a 100 shares print at $21.89. The next print of 400 shares $13.02 doesn't show until 13:26:58. What happened for this 1 minute and 4 seconds? Some selected tape prints below Time, Last...

I show options available on NILE. For example the May 40 Puts, ticker symbol JWUQH. As of Friday's close, CBOE's market for these was 2.20 to 2.50. PHLX's market was 2.20 to 2.45. If you broker isn't giving the service you want, look for a new broker.

I'm interested in designing and back testing rules-based and/or automated trading strategies. I have an account with Fidelity Investments and I trade enough with them to be eligible to have free access to their Wealth-Lab Pro software. Has anyone here used Wealth-Lab Pro? What is your...

It also depends on which exchange the stock is listed. The rules are different for different exchanges. For example, if the stock was listed on the Nasdaq National Market or Nasdaq Small Cap market your scenario should not have happened. However, things like this happen all the time on the OTC...

If you think HSBC Fin Corp will survive the crises, they have some nice yielding bonds. For example CUSIP 40429XC95 Matures Nov 15, 2010 YTM around 16% and CUSIP 40429CCX8 Matures Jan 14, 2011 YTM around 16%. Both of these are rated "A" by S&P. Another "A" rated one is Household Fin Corp...