atticus' "ship it" vol trading journal

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Quote from Daal:

So you bought 1 25C sold 2 35C and bought 1 45C for a net credit because you believe any rally will be muted to tomorrow but IV will tank enabling you to sell the position soon at profit?
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Correct, but it's a debit position.
 
Quote from atticus:

I think you'll get 4.00 by Tuesday.
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Or today. 4.65 mid. Now that's a trade. Of course I didn't get filled.

How about a Sep/Oct 35/40 diag if you want to play a bounce

EDIT: Never mind. It was a 0.50 debit when I posted, now 2.25. Options in this stock are crazy.
 
Quote from Doobs789:

Or today. 4.65 mid. Now that's a trade. Of course I didn't get filled.

How about a Sep/Oct 35/40 diag if you want to play a bounce

EDIT: Never mind. It was a 0.50 debit when I posted, now 2.25. Options in this stock are crazy.
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Third halt of the day right now...the others were curbs I believe but this one news pending. Could make a big move coming out of this one.
 
Quote from bs2167:

Third halt of the day right now...the others were curbs I believe but this one news pending. Could make a big move coming out of this one.
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Oh ok. Either way, I am not touching it.
 
Daal, thanks for the look.

I sold some Oct 30 puts small size.

I think this is 15 or 40 and probably a 40.
Not a lot of analysis here though other than other insurance companies consider the treatment to be important and it's been practiced for 60 years.
 
Quote from newwurldmn:

Daal, thanks for the look.

I sold some Oct 30 puts small size.

I think this is 15 or 40 and probably a 40.
Not a lot of analysis here though other than other insurance companies consider the treatment to be important and it's been practiced for 60 years.
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Long-term this stock is worth very little, certainly single digits. Short-term though, could bounce a lot. One thing that I learned is that no matter how bad the news is there always people that think there is a bargain there, specially for a stock with 7 forward PE and the analysts are defending
 
Quote from Daal:

Long-term this stock is worth very little, certainly single digits.
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Why do you say that?

I don't know a lot of about this company; but I was working on the assumption that the price on Thursday (these docs apparently came out over the weekend) was a good reflection of the prospects of the company.

EDIT: trades at 6x (trailing) sales right as of today...
 
Quote from newwurldmn:

Why do you say that?

I don't know a lot of about this company; but I was working on the assumption that the price on Thursday (these docs apparently came out over the weekend) was a good reflection of the prospects of the company.
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Read the original report Citron did(Its on my journal The Shorting of Bankrupt Stocks)
 
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