Drys

Sold last 20 at 1.2, will wait for earnings now and short up to 10K stock if there is a significant pop.

Sold another 20 at 1.20
Short 120 april 5
Long 500 april 7.5

Les jeux sont fait! Bon chance!
 
Guess the news must be bad and some people know it, how else could UBSS sit on the offer with 242K shares right before earnings release?

LOL they must read ET, just pulled it.
 
Quote from Mvic:

Sold last 20 at 1.2, will wait for earnings now and short up to 10K stock if there is a significant pop.

Sold another 20 at 1.20
Short 120 april 5
Long 500 april 7.5

Les jeux sont fait! Bon chance!
More...
Ah...so you have a ratio backspread going then : Long 500 april 7.5 ?
DRYS strong today on double average daily volume. Good if you are long, but I don't know your total position in it.
 
Depends on volatility but below 5 I will be covered with a marginal profit and can hold on to the 7.5s till exp for free (it won't be worth the commish to close the position). Below $5 and above $6 tomorrow and I will likely be in the black and I have the option of waiting and seeing what is going to happen with the way the position is constructed.

What this really is is an almost free lottery ticket that might pay off a little even if the number doesn't hit.
 
Quote from moonlightxpress:

$5 calls look quite attractive at the moment hmmm....
More...

You can buy mine for $40 or less tomorrow or Friday though can't think why you would want to. The only thing that DRYS has going for it at this point is the possibility of a spin off and that is at least another quarter away and that is if the banks let them do it.
 
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