BP Oil Spill

[Mike805]

Quote from atticus:

Long SLB from 52.38. Shares will fill the gap by expiration.

I've been watching this trade since morning, was thinking the same thing, but I'm not taking it....

Seems like a lot of "wow" factor left in this mess, can still push it down quite a bit more IMO

 

[atticus]

Quote from atticus:

55 Jun/Jul call spread is a double from current levels by expiration. That's all the detail I am willing to offer.

Also ;ong the 45/55/65 June fly from 5.00 risk to get neutral on vega. 54 last on shares. +2.40 on the day.

 

[S2007S]

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[atticus]

Quote from atticus:

Long SLB from 52.38. Shares will fill the gap by expiration.

Out of shares at 55.25, remain in the options.

 

[atticus]

Quote from atticus:

Out of shares at 55.25, remain in the options.

Long again from 55.48.

 

[atticus]

Quote from atticus:

55 Jun/Jul call spread is a double from current levels by expiration. That's all the detail I am willing to offer.

Sold 1.70 today, +50%.

 

[atticus]

Quote from atticus:

Long again from 55.48.

Out 57.40

 

[trefoil]

Just saw this go by. No idea whether this guy has a tin foil hat on or not:

Energy insider predicts BP will not survive spill
(flyonthewall)

Veteran energy investment banker Matt Simmons is making ominous statements about the outlook for BP (BP). Yesterday Simmons predicted on CNBC's "Fast Money" that BP would not "last as a company" beyond "a matter of months." Simmons, who added that he does not expect BP to be a publicly traded company by the end of the summer, said that the clean-up costs will be too massive for the oil giant to handle. Meanwhile, Simmons was quoted today by Fortune as saying that BP will have to declare Chapter 11 bankruptcy "in about a month." The size of the Gulf spill is much bigger than is generally realized, Simmons said. Furthermore, there's another, larger leak several miles away, he added. It is possible that the only way to stop the leak by detonating a large bomb underground, according to Simmons.