$1.70 Premium with 3 days to go

Arnie Guitar · Dec 14, 2005

I'm sorry.

I should say thank you to everyone

for sharing their knowledge and advice.

It is a 'real world' education being here.

Thank you.

riskarb · Dec 14, 2005

YW Arnie.

Sold the 70C/65P pitchfork 1x3

Sold 70 call//sold 65P ... 1:3 ratio for a 7.65 credit[6.00x.55].

Longhorns · Dec 14, 2005

Quote from Rearden Metal:

Now my question:

<b>What time is the verdict supposed to be announced?
</b>

10 am Eastern

Arnie Guitar · Dec 15, 2005

Well, wish I would have followed my own advice.

Hope someone here made a buck or two.

ssternlight · Dec 15, 2005

Yes,

I was just looking it up. I wonder how RiskArb is managing the short 70C part of his position. Looks like the 3:1 ratio has him roughly flat right now. After the fireworks settle, it might be a nice position.

riskarb · Dec 15, 2005

Approx 80 cents underwater per share. I'll let it expire and get rid of the assigned short before x-date.

riskarb · Dec 15, 2005

Up a quarter per contract on the MO pitchfork

wastrading · Dec 15, 2005

Someone followed it

riskarb · Dec 15, 2005

Quote from riskarb:

Sold the 70C/65P pitchfork 1x3

Sold 70 call//sold 65P ... 1:3 ratio for a 7.65 credit[6.00x.55].

Covered at $6.85 to the buy.

ssternlight · Dec 15, 2005

Quote from riskarb:

Covered at $6.85 to the buy.

cool...

didn't want to wait for tomorrow and see if it cooled further?