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I haven't done it yet because my account isn't set up for it yet, but I think the really smart C play is January 2011 C Call Options with a strike price of $2.50 .
If you bought 1,000 contracts (which gives you the option to buy 100,000 shares of C in January of 2011 for $2.50 per share), at current prices that would cost you about $2,400 .
The symbol is VRNAY, and the premiums per contract are currently trading at 1.65 per contract. I know I would have to pay .75 commission per contract, which would make each contract cost 2.40 .
By buying the options, you don't have to risk hardly any money at all, and you have a lot of time to let the price per share go up .
If at any time C goes up, say it is trading at $8 per share, the option premiums that are now trading at 1.65 , would be trading much much much higher than 1.65 , so you could sell the contracts for a HUGE PROFIT, or you can wait to actually exercise the options.
If you choose to exercise them in 2011 and C is trading at say $10, in 18 months, you exercise them, which means you buy the shares and then immediately sell the shares for the $10 . If done correctly, you should only own the shares for about 1 minute.
Lucky for us that we are not a bank anymore.
: ^ )
We'll see, and we'll see what WAMKQ does today.
The commons are up 10% already today as trades are going through right now at .108 .
Looks like a gapper-upper this mornin'.
It sure seems like they are ready to snap-up.
We'll see.
BKUNA is probably as cheap right now in pre-market as it will be all day, so if you want in, now/soon is probably a good time to buy.
"They" seem to like to do that from time-to-time.
I don't know if they are letting shorts cover when they do it, or if they are just testing "the bottom", but either way, I missed out the last 2 times and would rather not miss out the next time it happens, if it indeed happens.
I agree, as if they were going to be worthless, they would have already been cancelled. It is still nice to see green, and have a great week/weekend.
I'm not a day-trader, but imo, day-traders should be able to work the ups and downs pretty good on this one today just like yesterday.
You should see some nice action on it again.
Good morning, and you are correct sir.
Should be a good day on those.
To any traders, I know yesterday there were more than several runs-up and pulls-back, so even if you didn't get in that cheap, there is still money to be made imo.
Letter re: Invoice for Professional Services Rendered to Washington Mutual, Inc. for the Period March 1, 2009 Through March 31, 2009
http://www.kccllc.net/documents/0812229/0812229090424000000000006.pdf
Looks like they are about to pop again soon.
They can't hold 'em down forever, even though they try.
I going to start keeping atleast $1k available to buy 2k shares at a time just in case they play the "drop it to .50 and below for 2 minutes" game again.
Good post. Tomorrow and Thursday should be fun, regardless of how high it gets.
I'm guessing that it blows through the A/H high of 1.74 tomorrow.
It traced all the way back to PM prices, and I'm guessing they are going to run it up pretty good.
Have fun!
I would imagine that he is involved in every part of this mess.
IMO it will go into tomorrow with fresh legs again.
Motion of the Debtors Pursuant to 11 U.S.C. § 363 for an Order Authorizing the Employment of Alvarez & Marsal North America, LLC and Designating William C. Kosturos as Chief Restructuring Officer Nunc Pro Tunc to October 2, 2008
http://www.kccllc.net/documents/0812229/0812229081011000000000001.pdf
Notice of Filing of Schedules to "Declaration of William C. Kosturos in Support of Motion of the Debtors Pursuant to U.S.C. § 363 for an Order Authorizing the Employment of Alvarez & Marsal North America, LLC and Designating William C. Kosturos as Chief Restructuring Officer Nunc Pro Tunc to October 2, 2008"
http://www.kccllc.net/documents/0812229/0812229081011000000000003.pdf
IMO the price target of $1.50 is a smokescreen. To me that means "they" want you to sell at $1.50 because the buyout will be for more than $1.50 per share.
I haven't checked out their types and/or specialties, for a lack of better words, but I'm guessing that they are top-notch.
Agreed. Money well spent.
4 more lawyers joining the party.
Motion for Admission Pro Hac Vice of David Elsberg to Represent Washington Mutual, Inc. and WMI Investment Corp.
http://www.kccllc.net/documents/0812229/0812229090512000000000006.pdf
Motion for Admission Pro Hac Vice of Michael B. Carlinsky to Represent Washington Mutual, Inc. and WMI Investment Corp.
http://www.kccllc.net/documents/0812229/0812229090512000000000005.pdf
Motion for Admission Pro Hac Vice of Susheel Kirpalani to Represent Washington Mutual, Inc. and WMI Investment Corp.
http://www.kccllc.net/documents/0812229/0812229090512000000000004.pdf
Motion for Admission Pro Hac Vice of Benjamin I Finestone to Represent Washington Mutual, Inc. and WMI Investment Corp.
http://www.kccllc.net/documents/0812229/0812229090512000000000003.pdf
Notice of Filing of Stipulation to Extend Time
http://www.kccllc.net/documents/0812229/0812229090512000000000007.pdf
BigKUNAvator should be movin' on up again.
Thanks for the link!
I think it will be a play again tomorrow.
Are you sure they don't want an in-depth, rigorous investigation ?
Right.
It's not like they're going to say , " We do not object. We want an in-depth investigation."
Love it.
Some people might benefit if you explained it, as some don't understand the complexities that exist surrounding this case.
Good move !
Totally agreed, and quite a fine post.
Agreed, and WAMPQ is considered stock in Washington Mutual Inc(if you don't believe me then read the Court's trading order), and is therefore directly related to the company, and per the rules, is not a violation.
Discussions are only supposed to be about the company and the stock.
Hmmmm. What am I missing?
Thanks for the update.
Maybe it will gap up to a billion.
What do you think?
There were plenty of buyers today, but NITE was holding them down again. Nothing new there. That is what they are good at, frustrating people into selling, and then as soon as enough people sell, up it goes.
JPM did not buy WaMu bank = FACT
I only bought because of The Floridian Boys Board for sharing their thoughts about it, so solid bump to lon and the gang.
You can buy it back for cheaper than you bought today right now though.
If I have to guess, I'd say 3-12 months, but I don't have access to any information you don't.
I know some think if the suit goes to court it will take yearS, but I disagree.
Couldn't even tell you buddy. As soon as I tell you that now is a good time to get in, it will tank.
I know that charts should get thrown out the window with these stocks, and I'm not chart expert, but it looks like the accumulation is way up and it says oversold right now, so take it for what it's worth.
Nice to know.
Thanks buddy.
Thanks for the heads up.
I just went running, came back, turned on the computer, and we're back to where we started this morning.
I would recommend buying more. IMO it's going to do the same thing tomorrow that it did today.
hahaha
Nothing wrong with a quick 20% as far as I'm concerned.
Nice work.