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What are you buying today?


LowIQinvestor

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Bought some Verizon and GM LEAPS recently. VZ LEAPS are very attractive, I was able to get 10% OTM 2 years out at 17% volatility. I'd love to buy more if VZ happens to fall double digits.  I'm now waiting to increase my stakes in Toyota an Verisign IMOS and Liberty Global.

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Re LUK 1/15 puts:

They do show up in Think or Swim (TDAmeritrade), but are "non-standard"

 

09:22 me: get a msg when I try to trade these that they are "nonstandard"?

09:22 me: .LUK2150117C25

09:25 p.espinosa: hi.  the reason they are non standard is that upon exercise, the LUK Jan15 options would deliver 81 shares of LUK instead of the standard 100.  non standard adjusted options such as LUK Jan15's can run into liquidity issues, as traders normally just trade the standard option contracts

09:28 p.espinosa: the non standard split adjusted options need to be priced off of this:  LUK stock price x .81

 

 

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Altius Minerals, ALS.TO. Made it a 5% position.

 

SP dropping because of fears of china slowdown & if mines would get built. Good management track record & in the long run, civilization will require metals. Low cost producer but may not be lowest (brazil/nw australia).

 

Plan to add every 10% drop upto a max of 10%. Will only sell if I see management make promises and then doesn't keep them.

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After feeling a lot of pain with a long/short portfolio in the last week i give it up, its just not for me. I covered all shorts, i just hold onto bbh and mdax put options as protection. I put this into lesson learned category which has cost me my outperformance of the first 5 months. So if i will ever short again i will only do it with small put positions.

Nevertheless i raised my cash level a bit, sold CHL, DLR, WSTG,BACHY and OHI and bought ALS.TO and VZ. I am really trading too much, but i am constantly in fear of losing my gains. Really weird, i need a psychologist.  ::)

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MONT Jan 2015 20 - 15 put spreads at 55 cents

 

Tilson Right, Chinese company is a fraud buyout not real:    8 Profit

Tilson Wrong, Chinese company is a fraud but buyout real: -1 Loss

 

http://seekingalpha.com/symbol/MONT?s=mont

 

 

Why I Just Made Montage Technology Group My Largest Short Position

Whitney Tilson • Today, 12:30 PM • 2 Comments

China Orders Montage Technology To Cease Production And Sale

Aristides Capital • Today, 8:13 AM • 25 Comments

 

    Montage's stated set top box revenue is not consistent with its reputation as a very minor player; other brands dominate Montage by 10:1 to 35:1 among suppliers and finished goods.

    Montage produces the majority of chips in a 5 million chip per month black market; China's government recently ordered them to "stop illegal production and sales activities immediately".

    Excluding illegal chips, Montage trades at roughly 10x revenue. Neither PDSTI nor anyone else is likely to buy MONT at this price. Any of numerous catalysts could drop MONT precipitously.

 

 

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