LC Posted August 30, 2019 Share Posted August 30, 2019 So I very much agree with you, in fact particularly so on the ethical roadblock (vs the actual investment thesis). In fact I would prefer if they would give up on the vaping, or at least study it more first. By comparison cigarettes are a known quantity. People have been smoking things for, hell, thousands of years and we have been studying the effects for at least decades. With cigarettes, people are making an honest decision (akin to alcohol). Link to comment Share on other sites More sharing options...
Gregmal Posted August 30, 2019 Share Posted August 30, 2019 Entered the abyss. Bought a little TEVA and ENDP. Looking at a basket approach as it seems everyone thinks this is the end of all of them. Very small spec position. Link to comment Share on other sites More sharing options...
Gregmal Posted September 3, 2019 Share Posted September 3, 2019 CLF Link to comment Share on other sites More sharing options...
BG2008 Posted September 3, 2019 Share Posted September 3, 2019 Berry Sold some of my $47.50 puts for $9.25 today (paid $1.90 for them). In short, I am going long the stock by exiting the puts. Looking to use the put proceeds to either buy more stock and/or calls. Link to comment Share on other sites More sharing options...
Peregrine Posted September 3, 2019 Share Posted September 3, 2019 Berry Sold some of my $47.50 puts for $9.25 today (paid $1.90 for them). In short, I am going long the stock by exiting the puts. Looking to use the put proceeds to either buy more stock and/or calls. Just curious - what was the expiry date on that put? Link to comment Share on other sites More sharing options...
BG2008 Posted September 3, 2019 Share Posted September 3, 2019 Berry Sold some of my $47.50 puts for $9.25 today (paid $1.90 for them). In short, I am going long the stock by exiting the puts. Looking to use the put proceeds to either buy more stock and/or calls. Just curious - what was the expiry date on that put? Jan 2020 - Not much premium at this point on that put because it is so far in the money Link to comment Share on other sites More sharing options...
Spekulatius Posted September 3, 2019 Share Posted September 3, 2019 CLF Why is the stock down 15% today? Link to comment Share on other sites More sharing options...
Gregmal Posted September 3, 2019 Share Posted September 3, 2019 CLF Why is the stock down 15% today? Been on the go today operating from my phone but all I saw was the special dividend and continued plummeting of Iron Ore. Company did ~300M Ebitda at 2015 low prices.... despite the drop from $120-$80 we're still nearly double those levels. Maybe I'm missing something though. Who knows? Link to comment Share on other sites More sharing options...
Cardboard Posted September 4, 2019 Share Posted September 4, 2019 "Berry Sold some of my $47.50 puts for $9.25 today (paid $1.90 for them). In short, I am going long the stock by exiting the puts. Looking to use the put proceeds to either buy more stock and/or calls." Maybe you could expand on the Berry thread instead of here but, would like to understand your approach as I thought you were squarely long the stock. Cardboard Link to comment Share on other sites More sharing options...
Gregmal Posted September 4, 2019 Share Posted September 4, 2019 Taking DDS for a ride @59 Link to comment Share on other sites More sharing options...
no_free_lunch Posted September 5, 2019 Share Posted September 5, 2019 MSGN. Link to comment Share on other sites More sharing options...
Gregmal Posted September 5, 2019 Share Posted September 5, 2019 Bought some FIZZ $40 calls...If anyone is due for a bounce, its them. If not, the calls act as a stop loss. Link to comment Share on other sites More sharing options...
writser Posted September 5, 2019 Share Posted September 5, 2019 More SMTA. As far as I can see all looks good. Vote passed, portfolio sale expected to close in a few weeks, Shopko term loan fully recovered. According to the proxy management expects $8.50 - $9.35 per share in distributions. My own calculations get me closer to the top of that range. In fact even slightly above that range but that probably means I am too optimistic about the workout assets. Shares were initially up today (what I would have expected) but around the close there was massive volume and SMTA ended down ~2% instead. Best explanation I could come up with is that some funds are not allowed to hold companies in liquidation and had to sell at today's close. Seems congruent with what happened in the market. But maybe I missed something. Not the most fireproof explanation ever. Link to comment Share on other sites More sharing options...
Gregmal Posted September 6, 2019 Share Posted September 6, 2019 Little more DDS. The longer it takes to get the 10Q out the bigger the potential infinity squeeze. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted September 6, 2019 Share Posted September 6, 2019 More SMTA. As far as I can see all looks good. Vote passed, portfolio sale expected to close in a few weeks, Shopko term loan fully recovered. According to the proxy management expects $8.50 - $9.35 per share in distributions. My own calculations get me closer to the top of that range. In fact even slightly above that range but that probably means I am too optimistic about the workout assets. Shares were initially up today (what I would have expected) but around the close there was massive volume and SMTA ended down ~2% instead. Best explanation I could come up with is that some funds are not allowed to hold companies in liquidation and had to sell at today's close. Seems congruent with what happened in the market. But maybe I missed something. Not the most fireproof explanation ever. Even back in the $8.40s SMTA still looks cheapish to me. Not hard at all to come up with an expected distribution figure of over $9, even using conservative assumptions. Link to comment Share on other sites More sharing options...
writser Posted September 6, 2019 Share Posted September 6, 2019 Agreed. Already had a decent position but couldn't resist adding yesterday. Now one of my larger positions. Some potential tax issues due to me living in Europe (FIRPTA) but yeah, management estimates seem conservative. Now we'll see where they will burn some money to get distributions in line with their estimates .. Bought some SYRCF today. Similar story. Link to comment Share on other sites More sharing options...
kab60 Posted September 9, 2019 Share Posted September 9, 2019 SAVE, BERY - bit of BRK the other day below 200 Link to comment Share on other sites More sharing options...
longlake95 Posted September 9, 2019 Share Posted September 9, 2019 A 25% add to BERY Link to comment Share on other sites More sharing options...
BG2008 Posted September 9, 2019 Share Posted September 9, 2019 Sold more of my $47.50 Berry Puts for $9.30 (vs $1.90 cost) I own shares as well. So I basically went long the stock. Link to comment Share on other sites More sharing options...
kab60 Posted September 10, 2019 Share Posted September 10, 2019 Some Vertu PLC and Motorpoint PLC Link to comment Share on other sites More sharing options...
Casey Posted September 11, 2019 Share Posted September 11, 2019 sold T, nibbled on V, ROP, MSFT Link to comment Share on other sites More sharing options...
mjm Posted September 11, 2019 Share Posted September 11, 2019 Sold more of my $47.50 Berry Puts for $9.30 (vs $1.90 cost) I own shares as well. So I basically went long the stock. excuse my ignorance, but does that affect the holding period of the stock for tax purposes? Link to comment Share on other sites More sharing options...
Gregmal Posted September 13, 2019 Share Posted September 13, 2019 Grabbed a little PCG pre market on the settlement announcement. Gotta figure there's a few % to be had in there given all the volatility. Link to comment Share on other sites More sharing options...
Lance Posted September 13, 2019 Share Posted September 13, 2019 MO Thanks Lance Link to comment Share on other sites More sharing options...
kab60 Posted September 13, 2019 Share Posted September 13, 2019 Cambria Automobiles (now around 10 pct in total in 3 UK car dealerships). Link to comment Share on other sites More sharing options...
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