Replies to post #1754 on Peabody Energy Corporation (BTU)

[eFinanceMarkets]

Peabody Energy lower in NYSE return, lagging other coal names
Peabody Energy's (BTU -3.3%) NYSE debut after exiting Chapter 11 bankruptcy isn't going so well, with shares down more than 3%, but the bigger point is that the company is back after nearly a year in bankruptcy.
BTU, which produces more tons of coal than any other U.S. miner, returns with ~25% of its old debt levels and plans to focus on the thermal coal used by power plants which it can extract from mines in Wyoming and Australia that analysts rank among the world’s lowest-cost operations.
Other coal stocks are mostly higher today as coking coal prices shoot higher after cyclone damage hits shipments from Australia: ARCH +3.2%, CLD +2.4%, WLB +2.7%, ARLP -1.3%.

[remmy]

Michael, can I ask you a question?

I've often wondered what happens in the situation you describe. Knowing this delay occurs, is it better to cover the day before cancellation or better to effectively "cover" at 0 when it's finally cancelled?

Obviously, covering at .38 is worse than 0.00, but I wonder if it's worth the carrying costs of what can take weeks or months?

TIA.