GM 1 Strike Puts

Discussion in 'Stocks' started by TM1982, May 26, 2009.

  1. TM1982

    TM1982

    You need to dial 911. Stock is going up to screw all the 1put holders.
     
    #121     Jun 8, 2009
  2. Nah i covered those on the monday they came out with the bankruptcy deal, like last monday. I sold some stock against them but ended up taking a loss when they were trading like .56-.58

    That stock reacted so wierd and when I realized it wasnt going to be an AIG or a FRE, I dumped them immediatly.

    F*** you GM

    P.S. I own a cadillac, and I'm getting all my maintenence now before all these dealerships go under. Take advantage of that warrenty if you got it.
     
    #122     Jun 8, 2009
  3. mililani

    mililani

    Uhhh, nah, i'm staying pat. I went into the trade knowing I might lose it. That's why I went into the puts. Didn't know if the gov't would bail them out or not. I've got other trades to make up for the loss.
     
    #123     Jun 8, 2009
  4. mililani

    mililani

    One thing I have learned is this, the next time you bet on a sure bankrupcty where the common will get screwed, go on longer dated options. The courts will deem the shares to be worthless. Once it does, you get a cash settlement on the options of 100x the strike price. That's insane. Happened to Lehman.
     
    #124     Jun 8, 2009