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Re: None

Tuesday, 12/06/2016 12:07:41 AM

Tuesday, December 06, 2016 12:07:41 AM

Post# of 47030
Hi Gang, I bought VNR at $1.62 back in March, thinking that since that was ~5% of the high back in 2014 it wouldn't go much lower before heading slowly up as oil recovers a bit. Wrong, Wrong, Wrong!!!

I AIMed it and got both buys and sells, making a nice, small amount of money until it started dropping in August. I saw an opportunity to protect myself by selling a call waaay out of the money at $2 and since I had reduced my basis through AIM to $0.90 it made sense. As a goof I put in a GTC for $0.50 and VNR hit that on 11/18. Then, to my surprise, it started heading up and in the last few days it has leaped up to $1.40 today after market. But I can't sell as it was a covered call for April 2017 and there does not appear to be a way to buy back the call. We'll see what happens next.

A couple of lessons for me: never say never as it is bound to happen. What I should have done with the GTC is have it be for 3 or 4 times as many as I did, only about 1/2 of 1% of the cash on hand. Hey, gonna be shot for a bear, might as well be shot for a grizzly. I got too scared that it might go OTC or out of business.

Oh, well. I guess I'll just have to settle for ~100% return in a bit less than a year, plus, of course, the money I got as a premium for the call.

Best,

Allen

BTW, I just noticed that Yahoo Finance now has charts for analyst's estimates and actual results. VNR has beat the estimates all the last 4 quarters.

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