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I wouldn't call it "banking" but ~5% gains daily. I don't bet the house on it. If no movement on a Mon - Wed, I am red by ~20% but 3 days in a row of < 5 dollar moves is rare. I add at that point (new strike to remain ITM) to get back to break even or a small profit.
Main strategy is COP covered calls against 1,000 shares. That has been good the last couple weeks @ + $1,000 since oil decided to turn south. I'm out of most short calls and thinking that oil is going to turn north for a week or two again. COP has one of the best dividend rates for income so IMO, a keeper.
I am a GOOG trader fan. So I also keep way OTM calls past earnings. I have had between 5 - 10 GOOG Sept 800 calls that I've been flipping to keep the cost basis down. Right now they are pretty darn red but have been moving back up. Plan to keep those up to the week of earnings and sell all but 1 or 2 before announcement, depending on whether or not I'm green and how green. And will be shorting the hell out of GOOG after earnings for a week or so matched with my strangle strategy.
Just don't go to sleep on Friday's because as you know, if GOOG goes up or down 10 bucks, it could reverse back to a 1 - 2 dollar move and you're position sucks!
GOOG Strangles. Anyone else play GOOG weekly strangles? I've been playing those and as long as it moves 5 bucks, you make some profit if you buy it at the end of the day (10 minutes before closing) Mon - Fri for current week's expiry. Mon - Wed, if it does not move more than a couple bucks, you can break even or incur a small loss. Buy the Friday's expiry Thursday about 10 minutes before close making sure both sides are at or in the money because if it doesn't move on Friday, you can lose big. HOWEVER, historically, GOOG moves at least 6 bucks on Fridays due to options expiry.
Fri - Wed, you don't want to pay more than 1100 for a set as you have some time value. Thurs before close, don't pay more than 700 per set.
GOOG reports on July 28th. Should move a lot between now and then... either direction. The ultimate "reactive" options strategy, IMO.
This wasn't technical at all. It was a lie amongst several players who were pointing at each other, "you say it, no, you say it." It was simple for them to dazzle penny players with big words and ambiguous happenings. Once you started asking direct questions, Rufus and Co. folded and had a cult following so strong, they helped him brush those that would question under the rug and booted off whatever message board they found themselves.
Who cares? If you were short a stock that was literally worth ZERO, who the hell cares if they covered or not? Is there a bunch of people out there that want a ticker in their portfolio showing a value of ZERO?
Here's what happens. Stock is halted (bankruptcy or fraud, whatever), stock holders are the last to get paid. Shorters are last to get paid as well. The broker would eventually mark the shares to zero and shorters can then cover for a 100% gain. Simple as that.
Thanks. I copied someone else's idea yesterday about insurance on puts in case the approval failed. Looking at the risk/return, I figured a 100 bucks insurance on a $100 bet would at minimum let me break even and walk away unscathed. I think everyone on the board played this as a side project anyway!
I couldn't resist yesterday. Picked up .50 Puts and 1.00 Calls. And spent less on those than the wife spends on lottery tickets. LOL!
Of course. People sit on 100's of millions of investment dollars for years waiting for some guy to beat felony charges to do his thing all the time. That's very common. LOL!
IBM approves another $8 Billion share buy back and increase in dividend to .75 per share.
http://blogs.forbes.com/ericsavitz/2011/04/26/ibm-ups-dividend-15-boosts-buy-back-plan-by-8b/?partner=yahootix
Shares outstanding 1.23 billion.
I stand corrected and thanks.
I was under the impression it would be considered an asset with cash unless they are simply canceling out the shares after buying them?
That's probably the case considering the OS has dropped to 1.24 billion so answered my own question. lol!
Shares Outstanding: 1.24B
The OS keeps going down. They are building up their balance sheet with all this buy back activity.
Thanks for the opinion! Long on IBM but I have some DIA puts as insurance.
There was so much bad news in the market by Friday, it was bound to rally! Hehehe
Any thoughts on when this bearish move is going to end? Or is the omen telling us correctly we're in for a rough ride down hill?
Does Rufus even post any more on any message forums?
IBM Sept 130 calls opened from 2 at open all the way to 2.6 and back to close at 2. I played them from 1.95 yesterday to close out today in the 2.30's.
I never know what I'm going to do with this stock until around 10 or 11am. LOL!
Averaged my IBM Sept 130 calls down significantly and sold that new batch to get some cash out of it. IBM likes to regain or retract at least some of it's losses or gains it does in any given day giving the opportunity to help your average and day trade some cash from it.
Picked up IBM Sept 130 calls @ 2.13. Looking for a 2.3 exit today. I wouldn't mind holding a few contracts until Monday. We'll see!
IBM puts on Sept 130's opened up close to 60%. Whooo hooo! Which means it's getting back to that level I like to buy the actual stock for another wave.
Hoping to play it up and down for 10% gains (or loss as my luck would be) until it drops below $125. Then set those calls and forget it.
Well, if/when it drops below $130, look for it to hit around $123. No tech's involved. Just plain observation. Once it's at that level, watch it until it starts gaining strength. Go with calls. Set and forget for a month or two when it gets back to the high 120's or low 130's. Then start looking for short op's.
As long as it moves one way or the other, I don't care! Hehehe
Extremely long on IBM stock.
Swinger on IBM options.
Darn, could have bought all the IBM Sept 130 puts I wanted at 2.00 and sold them within the hour at 2.20 while still leaving profit on the table for someone else if only I pulled the trigger. Tomorrow, I guess.
Plan - IBM goes up in the AM with a nice pull back around lunch. The prices on the puts are pretty reasonable, me thinks. Once it drops below $130, you won't catch me shorting the stock any more.
Looking for some new IBM puts. Looking good here for entry, IMO.
Thinking about playing some DIA calls for a 50 pt swing. Thoughts?
Keep in mind, if you do opposite of me, you'll win more than loose! Day's still young.
My guess is a pull back under $130. I have Sept. 130 puts right now. May pick up more if IBM goes green at all.
I don't like it but had to buy some IBM Sept 130 puts. MAYBE it goes to 134 but it always comes back under 130. Except for when it doesn't. And since I'm short on the stock for the near term, it's probably going to hold it's gains solid until Sept OEX.
As much pain you THINK this is causing those that know Rufus is a liar and scammer, it's nothing compared to the REAL pain Rufus caused investors on that September day when this stock was halted.
Why? The Sept. 125 calls went from 3 to over 6 today in the last 1.5 weeks. It does have high AS so it takes a bit to move it though.
Simple oversight by most folks. Rufus said a 7 for 1 (or whatever it was) was coming BEFORE even filing to increase the AS to accommodate. Of course, he NEVER filed that.
Now it's a dividend.
Whatever you say! Is he going to redirect the money he's using to pay for a motel room for his family into this dividend? Yes, every day, CEO's are brought in from motel rooms after being evicted from a rented home. Every day, I tell ya.
So until CSHD, there have been no other true global businesses? LOL!
IBM for the next few weeks, IMO.
http://finance.yahoo.com/news/IBM-expects-earnings-of-20-apf-2026467976.html?x=0&.v=8
From $121 - over $132 in 5 days.
IBM says they are going to earn $20 per share in 2015! Roughly DOUBLE!
http://finance.yahoo.com/news/IBM-aims-to-double-rb-3773510376.html?x=0&.v=2
Couple that with share buy back and you're talking new targets. Can't wait to see the analysts start chiming in.
Any opinions if Goldman is going to come out unscathed by the Fed?
IBM OS dropped from 1.3 billion to 1.28 billion as of last quarterly:
http://finance.yahoo.com/q/ks?s=IBM+Key+Statistics
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=531501
Good stuff going on.
$8 billion buy back means removing about 60 million shares. At today's market cap, that = a share price of 135.00 if those shares were to come out today all at once.
Nice summary and perfect analogies.
OS is 1.3 Billion right now. I believe it was 1.33 Billion a few months ago. I haven't studied any filings but can anyone else confirm? I may be just going on bad memory throwing out that 1.33 Billion number.
No problem. I looked that up when some family of mine took Alex Jone's prisonplanet scare article for fact. I get aggravated that the same people who correctly think the Fed is an extremely powerful entity also think it will somehow fail due to losing the power to print money. We left the gold standard so that our economy could be dynamic enough in a global economy. Even Milton Friedman said this:
http://www.businessinsider.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals-2010-2
Here's the actual rule - http://edocket.access.gpo.gov/2009/E9-12431.htm
More regulations info - http://www.federalreserve.gov/bankinforeg/reghist.htm#D
Sec. 204.5 (2)
Because they are federally insured, they have to report on their assets to prove that they can cover FDIC insurance. The increment it's reported is in 7-day windows. So they have to disclose that they may leverage that window if their assets are not enough to cover withdrawals. They would get in trouble if they did NOT disclose that.
That's my take but I don't bank with those institutions. I use a Credit Union and so far, no holds on checks.
Late to post:
http://www.advfn.com/news_IBM-Board-Approves-Regular-Quarterly-Cash-Dividend-Annual-Shareholder-Meeting-An_41261484.html
IBM Board Approves Regular Quarterly Cash Dividend;Annual Shareholder Meeting Announced
The IBM (NYSE: IBM) board of directors today declared a regular quarterly cash dividend of $0.55 per common share, payable March 10, 2010 to stockholders of record February 10, 2010. With the payment of the March 10 dividend, IBM will have paid consecutive quarterly dividends every year since 1916
IBM also announced that its next annual meeting of stockholders will be held April 27, 2010 at the Midwest Airlines Center, Milwaukee, Wisconsin.