I do believe it's "you're" rather than "your". "Substantial number" differs from "a few" which you first used. Safe to assume you've never exercised ONE contract yet a substantial number. Buying 4 point out of the money puts 3 weeks from expiration for chump change premium isn't acumen. 100% in a week? You were gloating about 100% after first hour. LAST WEEK. I could quote it. I booked over a 100% in Fedders last year in less than 24 hours with no leverage. What's your point? I only trade in the stocks I follow. It's a matter.........of ............eh..........discipline. Incidently you buying puts in CFC, exhibting weakness AND.........buying puts in IBM exhibiting strength pretty much demonstrates the lack of a methodology. CFS also hit an intra-day high of $30.57. I have no time constraint. The coolest of cool is grace under fire. You selling to close suggests caving in. Hmmm, might stem from no net progress from your first hour in. Last week. Discourse over? Where've I read that B4? It would have been over if not for you coming back now. Prove? Ahh...............there's one of your many psychological afflictions. I personally have a focus upon extracting money, with right or wrong being rendered merely a by-product. Did I say anything about lending? Nope. Lastly, trying ever so hard to impress a total stranger is cute. So would waddling in your mom's high heels.
Geez up 270% on my Aug puts!!!! I guess I was/am the one that knows what he is talking about! I am buying LEND puts now!!! Not only is LEND behind on their SEC filings(they have an E at the end of their ticker), the charge offs will send them into bankruptcy just like AHM!!! I am buying puts across the mortgage boards and looking at housing manufacturers as well! LEND is the next stock to go bankrupt, then RAS and NFI!!! Enjoy!
They are all finally getting what they deserve, a severe correction for the years of arbitrage and out right theft! LEND was supposed to file their 10K Aug 1st or be delisted from NASDAQ!!! Here is the article./ SAN DIEGO--(BUSINESS WIRE)--Accredited Home Lenders Holding Co. (NASDAQ:LEND - News; "Accredited" or "Company") today announced that a NASDAQ Listing Qualifications Panel (the "Panel") has granted the Company's request for continued listing of the Company's securities on The NASDAQ Global Select Market. The Company's continued listing is subject to certain conditions, including the filing of the Company's Form 10-K for the fiscal year ended December 31, 2006 with the Securities and Exchange Commission ("SEC") by August 1, 2007 and the filing of the Form 10-Q for the quarter ended March 31, 2007 with the SEC by August 19, 2007 As previously announced, Accredited received notices of non-compliance from NASDAQ due to the delay in the filing of the Company's Form 10-K for the fiscal year ended December 31, 2006 and Form 10-Q for the quarter ended March 31, 2007. In response, Accredited presented its plan to regain compliance with NASDAQ's filing requirement to the Panel at a hearing held on May 3, 2007 and via subsequent written submission dated May 21, 2007 So as you can see they had to file the 10K yesterday or be delisted!!! Boy oh boy this worthless paper goes to pinksheets and then will tank to nothing!
for the record and i posted this before the actual amount to date sold by Mozilo and his cronies at Countrywide is $410,499,738.00 for a whole calendar year. this is all genuine selling from options awarded to them. i think its an absolute disgrace to be honest but there you go. http://www.secform4.com/insider-trading/25191.htm
Update./ the Aug 27.50 puts I bought at the start of this thread at .70 are now worth 3.50!!! Not bad! I was making $$$$$ on LEND puts when that overinflated buffon Cramer went on air and gave his "opinion" of the "definitive agreement" for that so called merger they have/had in the works. Then herd newbie traders starting buying the stock(future bagholders) and so I sold for a mild yet decent profit. Once folks know that the "definitive agreement" was/is just a pump and dump scheme so Cramer's little hedge fund friends can get out at the best price they can, it'll tank faster than ever. So while I wait for the truth to be know about LEND, what am I buying now? I loaded the boat on cheap Aug 2.50 puts on NFI!!! NFI shut down 70% of it's business last Friday and is next in line to file bankruptcy after AHM. They should file bankruptcy this week, for the loan they where given isn't enough to absorb the margin calls that are on their way. Some broker ratings have placed the target price of NFI at $0 and state that bankruptcy is around the corner as well. CFC continues to tank(they derserve it, as do all sub prime lenders) I initially have/had a target of $18, we will see how long it takes for them to get there. Not long I suspect. You want to make money? Buy puts on the crummiest non-bank mortgage lenders out there, you'll do just fine!
No question this company is a piece of crap. But the real question is how much is Lone Star willing to pay for this garbadge? Previous offer was $15, a dollar above $14 when the offer was made in June. Now that the offer will be finalizied in this quarter, I am seeing more of a offer of $8 or $9. Could make sense to buy calls instead.
Not "worth" $3.50. PRICED at $3.50. An option is just that, an option to exercise. And more importantly, YOU didn't get it. Shall I quote? 100% after 5 days. 30 cent basis. You have a real need to be right, eh? As for tanking, intra-day, presently up 3.8% . Wuz 5ish. Did I say anything about lending? Nope. Did say the ax is flush with inventory. He either tested the waters OR disposed. Time will tell. No doubt YOU will 2.
Operative phrase is "options awarded". No cash outlay. I'd probably convert to cash too. That cash is available to buy a host of things. Including CFC back. As for a disgrace, pre-announced. Transacted in increments. $410 million? Let's see, multiply 593 million shares by $25 Once again, it's not difficult to get wet in a rainstorm. Gloat about it. Look mom, NO HANDS! Or is it, "I stuck in my fum an pooed outta pwum"?
This pathetic idiot just can't quit can he, everyone here on elitetrader tells him how much of a idiot he is and he goes on and on and on when his outlook continues to be wrong. You are such a retard. I sold my puts at 3.60 today. Over 400% profit on a trade you said wouldn't work. Why dont you do elitetrader a favor and shut your trap and beat it. You are a has been, I can tell from the way you write. You are just here to try to stir people up. Know what you have accomplished idiot? Letting everyone on elitetrader know just how unknowledgable about the markets you really are. Don't quit your day job, idiot.