WHY GM will blow up...

Closed my 6jan17.50 puts @ .90
shorted 6jan25 calls @ 1.00

Credit of $10/contract

So currently riding with:

long 6jan20 puts @ a cost basis of .55
short 6jan25 calls @ a credit of .1

Quote from Enfinity:

Out at 22.40, or still in?

My plan is to close my long 6jan20 puts in December; looking for ~$4. I plan to float my short 6jan17.50 puts and will close them only if I can do it for nickles or dimes. If I let my short puts ride, I will short the stock if the puts go ITM at 17 and stop it at 17.50.

Looking for for an extra happy holiday this season :)

My cost basis is $55/contract, looking to close at ~400/contract.
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Closed out my positions today...no price satisfaction and I don't see any viable, substantially negative event that could impact GM share price in the next month and a half. Negligible gain, but I figure now is a good time to exit my OTM puts and close those 6jan25 calls that could end up ITM by January given market reaction to today's November sales.

Wagner hates the shorts and managed to screw us options players! January 20th, what a perfect day for GM to persuade Delphi to postpone their labor contract motion to...3rd friday

Wagner won in the short term, but it's not over yet! I will be looking for another entry as the stock settles in.


Quote from Enfinity:

Closed my 6jan17.50 puts @ .90
shorted 6jan25 calls @ 1.00

Credit of $10/contract

So currently riding with:

long 6jan20 puts @ a cost basis of .55
short 6jan25 calls @ a credit of .1
More...
 
good post, BH. u bring up some good points. not sure i agree with all of them, but i think you bring up some good points.

Quote from bighog:

Why is there a "NEED TO TAKE DOWN THE UAW"?

Will the cars be cheaper? Will they be better or worse? Will you feel better if there were no unions at all? Where are GM's workers wages etc compared to Toyotas, BMW, Volkswagen?

Are the Mercedes cars really cheap because they are made in a non-union plant in Alabama? If not, then why not?

If and when the big bad American companies succeed in trampling over workers and retires pensions and trash their health care and have them working for third world wages will you feel better?

I guess maybe you think all problems are caused by others high wages and they are making it hard for you, Correct?

Do you relish in hoping this country is to become a two class society? Those that want it all, and those that must get nothing? Do you want to build a fence around your house?

This self greed is really sad, it is ok to stiff the other guy so you get a little more, is that want you want?

Here is an idea, have the vehicals for the Army etc made in china and shipped directly to Irag and where ever else the dog catcher of a President gets us in further trouble with the rest of the world. We are the laughing joke of the world as it is.
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Big Hog, that's a great post. ALl that crazy capitalist nonsense about efficiency is so overated. Why not pay the workers more than they're worth? Why expect them to work 40 hour weeks in the first place? I sure don't want to. Can you get financing and start a company that pays people a fair wage, full health and retirement and let's them work when they want to on what they want to? I know I'd hate to have to work in an assembly line. Let me know when you get your company up and running, and I"m in!!

p.s. I'd like to be an executive. I hear they get really great perks. Thanks.
 
There are no longer any American cars anyhow. Everything produced in Nth America is cloned on European design. All the car models look like unappealing smooth bugs; you just want to step on them all and squash all these ugly mothers .. passengers stepping out beforehand of course.
:)
 
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