Red Lion

I really hate BAD self checkout. Our raleys/belair is an overpriced chain that has the worst self checkout I’ve ever seen. Sam’s club on the other hand I’d seemless.

GOOGL leaps

New position in NTDOY. In at 9.52.

Do you have other recommendations in the sector? I’ve read about these cable companies for years but never opened a position (yet).

I’m going to ask my cpa and just sit on the long warrants right now. I’ve done this before with bull leap spreads and I believe had lt treatment but now I just don’t know.

@aws @LearningMachine Thank you so much for teaching me this lesson before I figured it out sometime next tax season! I closed out the 2024 short calls for a small profit and I’ll look for either a higher IRR short term option (still short some August 23 calls) or none at all.

More CLPR

I didn’t know this! isn’t it different for put options? I could swear I’ve gotten lt gains before. Thank you!

Opened new positions in PM, MO, and BTI in my 401k with employer contribution that just hit my account. Also added to my CLPR position at 6.75 in the 401k. I have room to add a lot to these tobacco names if prices fall, but I’m trying to move yieldcos into my retirement accounts, been waiting to add tobacco until I got funds in tax advantaged accounts. Also began a starter position in Trisura in taxable acct.

Sold June 2024 calls against half my OXY/WS with strike prices at $70 and $85.

Agreed. I’m going to be looking for longer expiry options for this reason if I write options against more of the position.

Just bought a slug of the Oxy warrants at 36.75. Might write some calls against some of the position, but I’m short on oil exposure in the portfolio anyway, the leverage is very cheap, and Buffett might well keep buying around this price to put a floor on it.

@gokou3 @Stuart D I just bought 100 OXY warrants at 36.88 and sold an 8/18/23 $70 CALL for $3. So I got back all the time value plus a couple bucks. I think my brokerage is NOT treating this as a covered call, but I have privileges to short naked calls, so I'm not sure it makes a difference. I just put this on in with one contract, but I'm going to look at scaling this position up and writing different strikes and duration calls against the underlying position to see how it goes.

I just took my first look at the OXY warrants, they're exercisable before august 2027 at $22 per share, so it seems like they're trading for close to the intrinsic value, am I reading this wrong? Seems like it could be a good trade to buy these warrants and then sell OXY calls against them. Buy OXY warrants at the $38.36 close, then sell June 24 $70 calls for $8. If it gets called away then you make $17.64 profit on a $30.36 cash outlay. If it doesn't get called away you have a cost basis of around $52.36 on OXY and still get to write numerous additional options before warrants expire. I'm sure you could max the IRR here by selling shorter term call options. For example you could sell the May $65 calls for about $3, and then just roll them up and out if the options go ITM.

Haha, luck favors the prepared they say.

You've got serious stock screening / sleuthing skills.

Because I feel like they’re both a little richer on valuation, but these 3 are the ones on my watch list. Would like to start a position in all three eventually, hopefully after a bigger pullback. should mention I’m not an expert at rails, so my game plan was to probably create a small basket and then tweak it over a period of years. This is my favorite way to learn a new sector.

New position in UNP. Been wanting to invest in the railroads for several years and been waiting for a good entry point. I feel like $200 is an OK entry point, but I will look for opportunities to add.

I’m the plan admin for my small business and there are a bunch of 401k plans with almost no fees but nothing but garbage high fee funds. I’m paying a lot more admin fees to get a Schwab brokerage account. So far I can trade anything, but not cash secured outs which irritates me. Hopefully by next year we will have enough plan assets to justify the higher administrative fees.

Held my nose and added a very few shares of ARES. The valuation is high, but if the growth runway keeps up this can still be a great return over 5 years. Would look to build this up to a full position anywhere in the $50s but that looks unlikely.

Seems pretty crazy to sell off shares because of higher expenses that seem to be largely related to the Griffin acquisition which seems obviously related to Apollo's plans to supercharge retail HNW fundraising. I haven't fully parsed everything yet, I'm halfway through the CC now and read the press releases, and I see the stock thesis intact and in play. I hesitate to buy more because I'm technically a little bit over my maximum allocation here, but business is good and I think I'll be upping my stock max position sizes (by invested capital not market value) in the next few months. Meanwhile, the market seems to be ignoring the rollout of insurance sidecar #2 which management expects will be bigger than #1 and will take up a larger % of new Athene annuities than sidecar #1, thus creating additional fees and turning their "asset heavy" insurance business back to a more asset light mix over time. This seems like great news to me.

Added APO with cash in 401k.

Imagine Brookfield acquiring CG and then allocating the balance sheet to BN and the asset manager to BAM. If they used a combination of shares at let’s say a 50% premium it would still be accretive, and presumably this could help achieve scale and aum growth for BN to rival BX. Probably would never happen, but I think it would create value for shareholders of both companies. This discussion makes me want to add at least a starter position to CG. I have a starter position in ARES I picked up around $62 at recent lows, and will hold and add if the valuation becomes more reasonable. Picked up a LOT of BX in October through December bringing my cost basis from the $30s up to about $80 (and now my largest position). Added to APO in the mid $50s which is almost equal weight with BX and BN. KKR is my best performer (initiated in 2020 Covid crash) but the one that got away since it’s only about 2/3 of a full position just missed my buy orders in the low $40s.

LMAO!!

I think cg is a good buy here. Personally I would rather own apo and kkr even at a higher valuation, but I think cg has the most upside if they can steadily grow aum and move margins in line with their peers. So far they haven’t done either one, but maybe the new ceo will help.