Buying PUTS on VISA

Pachoo · Apr 23, 2008

Another brilliant pick by Jackstone LOL.

robbie380 · Apr 23, 2008

Quote from jackstone54:

I have decided to buy puts on VISA.

When the Visa IPO came out, I believed that V was way overpriced. There was a lot of hype during the IPO yet it fell and dropped like a rock. The SPY made a 3.5% move today yet V was in the red the entire day.

There is a smell in the air and this was one is toast. There are no short shares available yet so I bought some long dated in the money puts. However, I think it might be better to be more aggressive.

Had this stock IPOed 2 years ago then it would have been at 10. Its all baked into the cake now and my expectation is for V to drop like a rock during next earnings call.

In a similiar move, I had bought puts on the Fortress IPO and the Blackstone IPO. I have also shorted both and added to those short positions all the way down. My opinion is that there was so much hype during those IPOS and they were wildly overpriced. I know that both these companies will go the way of Neiderhoffer and Amaranth. They will shutter their doors one day and thats not if, but when.

Visa is done, stick a fork in it. Trade your mastercard as the sweet overvalued trade vehicle it is, but the VISA IPO is for those who like to go short.

Short or buy puts on VISA.
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you are a genius...whats your new screen name? i'm guessing you have a new one since you haven't posted for a few days.

BullAlert · Apr 23, 2008

V is up 13.75% since the date of the original post.

Maybe we should use js54 as a contrary indicator. lol

How those puts treating you???

Pachoo · Apr 24, 2008

LOL, Visa's bull run continues unabated. Great call Jackstone LOL.

This short along with his puts on Ford and FSLR are all going gangbusters LOL.

jackstone54 · Apr 28, 2008

I closed out the short on Ford, but never closed the FSLR trade which is going well for me. I did not sell the puts on Visa.

It appears the Visa call was a train wreck and I shall recover and probably a swift recovery at that.

Do not question JackStone54. HAHAHAHA.

robbie380 · Apr 28, 2008

Quote from jackstone54:

I closed out the short on Ford, but never closed the FSLR trade which is going well for me. I did not sell the puts on Visa.

It appears the Visa call was a train wreck and I shall recover and probably a swift recovery at that.

Do not question JackStone54. HAHAHAHA.
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really? what price did you close out of ford? and you are still down in your FSLR trade if we are to believe your original short.

stock_trad3r · Apr 28, 2008

Down a cool $3,000 on this in AH but since I'm long since 60 I don't really care that much. Not selling.

Pachoo · Apr 28, 2008

Quote from jackstone54:

I closed out the short on Ford, but never closed the FSLR trade which is going well for me. I did not sell the puts on Visa.

It appears the Visa call was a train wreck and I shall recover and probably a swift recovery at that.

Do not question JackStone54. HAHAHAHA.
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LOL, complete BS. Everyone of your trade recommendations tank, and everytime you have some excuse about how you magically are actually doing well with the trades LOL.

buylo · Apr 28, 2008

Quote from newguy05:

vonage was not a hot ipo, it was a disaster at the get go, how a company with hundreds of millions in debt can go ipo is beyond me. Basically just the thieves cashing out their loot to the investors.

goog, vmw, bx, v etc are hot ipos, only bx tanked amid the financial crisis, rest all went up shortly after ipo.

My point is, it's just not worth it when there are so many other fish in the pond to choose from.
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We are talking about Jeff Citron. Has already had to pay a $22.5 million dollar fine to the SEC before.

HolyGrail · Apr 28, 2008

Well Jackstone/MichaelScott, it looks like it's time to come up with a new handle. It seems like time spent with each name is getting shorter and shorter.