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What are you buying today?


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On 7/9/2021 at 3:02 PM, Gregmal said:

Continuing to play whack a mole, smashing the bid on weekly CLF puts. Also added a bit more JOE too today. 

 

Also started small BRG position earlier in the week. Disclaimer, dont follow me on this....its a shitshow schemeco IMO that hides behind great assets, but I think the force is strong enough on this one to grab $1-2 per share in relatively short order. 

 

Sold BRG for a quick 70c. Flipped proceeds into more PSTH.

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20 minutes ago, Castanza said:

Why warrants? 

 

I picked up a little more common 

 

Well this is embarrassing. The reason is I forgot I had an outstanding limit order for it...

 

I usually have a bunch of orders outstanding at various price points for my holdings. 

 

Edited by fareastwarriors
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1 hour ago, fareastwarriors said:

 

Well this is embarrassing. The reason is I forgot I had an outstanding limit order for it...

 

I usually have a bunch of orders outstanding at various price points for my holdings. 

 

I was going to ask the exact same question as Castanza.   I picked up some more common today as well.

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Not all today, but recent moves in the past week or so. 

 

Opened put positions in HYG

Locked in bulk of profits from my TLT call spreads. 

Rolled my long put spreads in Apple forward to October

Reopened put spreads in American Airlines to October

 

Added to FIH with intention of participating in the tender with my newly acquired shares

Added to FFH as I cannot fathom how it continues to trade so cheap as book value is exploding

 

 

 

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27 minutes ago, TwoCitiesCapital said:

Added to FFH as I cannot fathom how it continues to trade so cheap as book value is exploding

 

 

image.png.376bb858f5a8d37f46459163998c3238.png

 

 

Anyhow, added a good bit to MSGE. Not sure what kind of retard is selling at this valuation...from those I've talked with mainly its folks who dont like that its not a "pureplay" or have concerns about Dolan....ironically enough, basically the type of people who make those claims but then own crap like Viacom or the Malone entities....(hint, Dolan has destroyed Malone in terms of capital allocation over the past decade, but let the narrative persist). Anyhow, at $75 you can basically write down the entire Sphere to land plus scrap and still get upside. And who knows, maybe Boyar is right about MSGN and its worth 50% more than they paid(I dont see that, but who knows?)

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30 minutes ago, Gregmal said:

 

image.png.376bb858f5a8d37f46459163998c3238.png

 

 

Anyhow, added a good bit to MSGE. Not sure what kind of retard is selling at this valuation...from those I've talked with mainly its folks who dont like that its not a "pureplay" or have concerns about Dolan....ironically enough, basically the type of people who make those claims but then own crap like Viacom or the Malone entities....(hint, Dolan has destroyed Malone in terms of capital allocation over the past decade, but let the narrative persist). Anyhow, at $75 you can basically write down the entire Sphere to land plus scrap and still get upside. And who knows, maybe Boyar is right about MSGN and its worth 50% more than they paid(I dont see that, but who knows?)

 

I think that's too simple of an answer. This shit traded at $550-600 USD/share back in 2018/2019 with the same guy in charge and the same historical mistakes.

 

I made the case back then it was hard to see how they'd get a reasonable return on the share price from that level and sold my entire position. A commentary on the market environment and forward looking returns - not Prem. 

 

Now, 3 years later, book value has caught up to that share price range and Prem and co have delivered wonderfully on the environment of the past 3 years: insurance cos, subsidiaries, equity investments, TRS/share repurchase, all are performing wonderfully and no one wants to pay more than $425-450 for it. I'm buying hand over fist - a commentary on market environment and forward looking returns - not Prem. 

 

 

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3 hours ago, StubbleJumper said:

 

The most successful puts are those that are written using the benefit of a time machine!  Sign me up...

 

SJ

 

Although that used to be the case, the alpha from time travel option selling has been almost completely arbitraged away.

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2 hours ago, IceCreamMan said:

 

Although that used to be the case, the alpha from time travel option selling has been almost completely arbitraged away.

I'd like to exist in the multiverse where all the options I sell expire unexercised.

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Love these responses guys.🤣 Turns out on checking my account I wrote 30th July options by mistake -fat fingers, eh! -so I'm missing out on the time travel arbitrage after all. But I think it's still a heads I win, tails I win situation so I got lucky!

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