UAL declares chapter 11

Excuse my ignorance but,
I guess I need someone with more experience.

I'm holding around 15,000 UAL (short),
and I'm just not sure when to get out.
Is there a predictable pattern with these BKs,
or is each case different?

thanks
Mark

 

Depends on whether or not you want to wait until the stock is declared worthless

 

Now would be a good time ...

 

Couldn't he hold it even after it gets delisted and goes to pink sheets?

enron is a dead duck altogether (no reorganization) and it still has value doesn't it?

I'd rather get out at .0001 per share rather than .80 something.

 

Just checked out Enron:

http://www.pinksheets.com/quote/quote.jsp?symbol=ENRNQ

 

Yes, now is the time to exit UAL....if you are short.
The long entry would have been at 80 cents.
If you wait too long, you might get trapped and not be able to get out.