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lol "120" March $3 calls on the bid at 10 cents ask 15. You can buy ZN at 36 cents and make back 10 cents (28%) selling a $3 call covered call that is over 830% out of the money! Amazing stupid high lucrative option market!!! Sellm & forgettm!
LOL March $1 calls spiked today for 75 cents! Not a bad trad on a 36 cent stock right eh? Back down to 20 & 25 cents now though...
100 March calls at 20 cent sitting on the bid w/25 cents sitting on the ask! Can buy 10k shares of ZN at 37 cents and sell 100 March $1 calls for 55% profit and have a net 17 cent ZN cost basis! What is not to love? Sell'm friends and let them ride.
As for your question, I always wish I had more :)
True but I may be a little bit jaded and not overly optimistic. Years ago, when ZN was in the midst of drilling MJ1, the pps of ZN was $7+ with 70 million shares outstanding resulting in a ZN market cap valued at 500 million. That said, ZN was in the middle of drilling 10k+ feet down and the market was eagerly anticipating ZN pr news and oil was over $100 barrel. Today, ZN hasn't revealed her 3D results (likely not impressive as they haven't volunteered to have them re-reviewed by a bigger company like Haliburton which would DEFINITELY add excitement if they were possibly sitting on a grand find) and it will be several months before drilling hopefully begins. ZN's price in the early stages of drilling MJ1 was $1-2 and didn't pop till they got to drilling 5-10k down. ZN at 60 cents with 250 million outstanding shares results in market cap of 150 million. $1 ZN pps is a HEAVY LIFT. Sell Jan&March covered calls at 25 cents for 66% profit and let them ride til expiry :) Just sell them and forget them and profit all the proceeds. If we don't meet Nasdaq requirements by Sept and don't get an extension, the covered calls you just sold immediately expire worthless and YOU get to keep the all profit as early as Sept!
I wouldn't buy a ZN call right now at these crazy high prices for anything. Its ridiculous! Instead, SELL'm!
Another extension is a definite possibility as Nasdaq gets paid handsome fees by ZN for their listing. Why not after 3? I think Nasdaq actually likes keeping ZN around. Seriously its an interesting stock and the MMs like working ZN, wash rinse repeat is their mantra. I guess that goes for all stocks tho. Don't kill your golden egg laying goose Nasdaq!
Who here thinks ZN can seriously get the price over $1 on news of drill rig arriving w/crew (Aug/Sept) with likely start of spudding well in Oct? Are they clearing & prepping the new drill site? My best guess would be price of 50-60 cents. The new 10s of million in new shares being issued, on top of the 220 million shares already outstanding, would put ZN at a market cap of 150 million assuming 250 million shares issued w/ZN pps at 60 cents. With ZN at $1 pps, ZN's market cap would be 250 million. Seems like a large stretch to me to hope for anything over 60 cents with oil at $42. ZN has assets of 20 million w/new rig & drill pipe. I'm sure hoping for $1 but it will take news that is almost supernatural.
Sell Jan & March covered calls 25 cents now for a 60%+ immediate gain and let it ride.
ZN option update: Today's high for selling Jan $1 calls was 25 cents (56% gain)and March $1 calls 30 cents (67% gain). lol you may even get lucky and get a fill on March $4 calls options that sold for 15 cents!!!! March $4 options are $3.58 out of the money and you get to make a 30% (15 cent gain) on selling them!
ZN options are ridiculously unbelievable juicy to SELL!
Selling ZN covered call options is the perfect way to play ZN safe and actually make an immediate profit & simultaneously average your ZN net share cost basis to under 15 cents.
Don't sell for a 5 cent (10% gain) Bruce. If you think we may or may not reverse split then you still should have sold March $1 covered calls for 67% profit at 30 cents lol -really true unbelievable right! If we reverse split, the options will remain but be adjusted for the split so no loss except for profit over $1 adjusted for split if... However it gets better for option sellers, if ZN doesn't go over $1.00 and they don't elect to reverse split its no big deal to simply move over to the OTC market (just like SDRL did recently) and the BEST part is that the options immediately expire worthless so you get to pocket your full 30 cent option gain once Sept 2020 passes w/ZN under $1. I don't think ZN is particularly concerned if they stay on Nasdaq. Not only do they have to pay 10-30 grand for this "privilege" but it also means a lot more paperwork compliance. Its not like we have tutes still investing in ZN. Last reported the fund holders of ZN were around 2% (down from 15% years ago). Dilution of ZN stock is the #1 threat to ZN price going above $1. Think about it... @$1 ZN pps, the market cap of ZN will be around 200 million. Don't think that will happen by next month. Tutes like selling ZN options for profit but keeping the price above $1 is going to be a very heavy lift. Unless God intervenes of course! Play it safe and sell Jan or March options: $1, $2, $3, $4...
Blessings!
ZN has a market est cap of 94 million @42 cents pps (assuming 225,000,000 shares issued by now). Last report was 206,000,000 shares outstanding but we all know ZN need 20-30 million more in funds to start drilling operations. ZN likely still has their ANGEL investors on-board (like Mr. Ellis God bless him).
If they strike at the exercise price, I still get to keep all profit up to the strike price so it's a win win either way (if they expire worthless I also keep the profit from selling them 100%). AND, should ZN go to the OTC market in next 2 months, the calls expire worthless immediately and all profit from selling them goes to the seller of the options. Selling covered call options is a great way to de-leverage your risk and ZN costs basis!
Buy ZN for 11 cents all day long! Only with ZN can you buy shares at 36 cents and sell March covered $1 calls for 25 cents (70% profit resulting in net ZN share cost basis of 11 cents!). Crazy huh? And it gets better:
March $2 calls sell for 20 cents, $3 calls 15 cents and even $4 calls for 10 cents.
I'm your Huckleberry :)
With ZN earnings we will also see new number of shares issued. My guess over 220 million outstanding shares now. Question is did ZNs angel investees like Mr Ellis come thru again? May God continue to bless him for his faith and support!
Any word on if and when the Texas boys will have their VISAs approved? Could they already be in Israel and the ship in-route? Last PR was vague on delivery details. But then again, if Israel approved the drilling operation, they must have made plans for the crew to be allowed entry.
ZN will take a break here at 48 cents likely ---until more news PRs. Should be on deck soon. Any word on if and when the Texas boys will have their VISAs approved? Could they already be in Israel and the ship in-route? Last PR was vague on delivery details. But then again, if Israel approved the drilling operation, they must have made plans for the crew to be allowed entry.
Looks like Clay was right yesterday and the wall at 47 cents was taken down emphatically. Next leg of resistance is 52.
INSANE call $ spike up last half hour!!!! All across the board up 20-50% including $2 & $3 calls selling for 25-30 cents. lol sell'm!!!!
Jan & March calls selling for 25 & 30 cents lol. C'mon buy'm up.
Clay Trader says 47 cents is the line of resistance today. We shall see. Jan calls are selling for 25 cents +57% profit and March calls for 30 cents +68% profit! Sell covered calls ya'all!
Understand this, ZN will likely go to $1 - she just needs to rest a bit before the next big leg up. The MMs are not going to let ZN fail to meet the $1 Nasdaq requirement - THEY WANT TO KEEP THE OPTION MARKET OPEN! TOO much money to lose out on in the future.
Avery purchased at exactly the right time! Good for him!
ZN has until Sept when exactly when the pps has to be over $1.00? If we do go over $1.00 for 10 consecutive days anytime between now and then, my take is the MMs can easily tank her back down - or not lol. I think the MM's want to keep the option gravy train open for business. Its a lot of fun selling calls for 30 cents + on a 43 cent trading stock!
Love today's volume. ZN could be coiling up for a big run...
Nice. Keep it up ZN and lets see $1.00 before Sept. Just sold more Sept covered calls at 20 cents 46 days out! Sweetness
lol Sept $1 calls are on the ask at 15 cents 33% profit on a 46 day out wait. Sell'em down to 10 cents and just hold till they expire! You make money either way!!!
How to make money trading ZN. ZN support at 40 cents and resistance 60 cents. Calls are selling for 25 to 35 cents over 50% profit. Don't sell ZN, buy ZN cheap at 40 cents and then sell covered Sept/Dec/Jan/Mar call for profit! If ZN doesn't go over $1.00 by Sept and ZN goes to the OTC marketplace, all your sold calls are pure profit. If ZN goes over $1.00 by Sept 2020 to meet Nasdaq's listing requirement, then you just made all the profit from holding ZN from 40 cents to $1.00 and you also get to keep your profit from selling your call at 25-35 cents!
Tothe, today's ZN market cap at 80 million w/pps @40 cents. Do you think the MM's will run the price up over $1.00 to keep the lucrative ZN option market open for business (and they have made fortunes selling options)? If we go OTC (like SDRL recently did without reverse split), all options are null and void. Option prices are sky high and now seems like the perfect time to buy ZN and then turn around and sell covered calls for 30-50% profit. If ZN goes OTC all options expire worthless and we pocket the profit, or MMs take ZN to $1.00 and we still pocket the profit on the run to $1.
Another reason to sell calls. If ZN is delisted all calls are worthless. Question is do the MMs want to loose out on money making call selling or will they push her up to keep ZN in compliance? Hmmm
Yes 300 million shares. Already over 200 million and in 5 months up to 300 million. ZN needs funds for drilling operations (40 million+).
Very hard to believe the MMs would take her under 40 cents right now giving the impression of a pump & dump.
If you think about it, ZN will have many more exciting PR's coming out almost weekly now giving status & progress updates. Each one of these PR's is an opportunity for another higher pump. So why would the MM's test a low of 38? My only logical deduction is I think todays ZN AH action is likely a support strength test. They can see if other MMs are buying the dip and taking an interest.
ALL is good - I just reloaded another 15k shares at 38. Monday morning will be interesting :)
right now might be a good time at 38 cents
38 cents right now AH, load the boat back up!
ZN market cap at $1 pps = 250-300 million market cap! Do you think this going to happen?
Make $$$ Now is the best time to sell covered $1 calls for 50% !!! Maximum premium is today!
Buy ZN at 52 cents and sell Jan 2021 calls for 25 cents (50% profit). Net basis in ZN at 25 cents!
SELL $1 CALLS at over 50 cents!!!!!!! Sweetness!
Will the MMs push this over $1.00???
Making grandma & grandpa some money! Poor suckers that were pumped on FB right? Lol
ZN market cap over 200 million w/pps at 75 cents! I had to sell a bit at 82 cents this morning. Great PRs are going to be coming out soon and we may be over $1.00 before anyone can blink. We shall see how the market responds when open for trading options!
ZN: believe .19-.48
ZN like Kodak? Lol could $1 be possible? I just don't know anymore... things are different now
Holey Moley Moses 50 cents crazy!!!!