What are you buying today?

[fareastwarriors]

2 hours ago, cubsfan said:

MSGE - adding here. $63

 

Added as well. 

[Martian]

I think it's down more than 5% is because of this.

 

"Morgan Stanley resumed coverage of Madison Square Garden Entertainment Corp. with a recommendation of underweight."

[Gregmal]

Yup. Major new fundamental development lol. Morgan Stanley says underweight. 

 

IF, you believe the Boyar Value rhetoric on MSGN, you're basically buying the entire thing for less than Boyar thought the Network piece was worth. 

 

Disclosure, I do not. I think Boyar was frequently wrong about the value of the Network...as Ive detailed several times in other threads. But I do think its both easy to justify the price action(poor sentiment, muddled merger financials, covid, NY, shit technicals, etc) and also hard to justify it(now arguably trading at less than the value of EITHER the Garden or the Networks)...personally I dont care. Its good to have something thats an obvious buy in a market full of whats largely meh...

[fareastwarriors]

Picked up more shares of MSGE at $62.50.

Can't wait for 50s...

[Spekulatius]

Bought a bit more Prosus and 9988.HK (Alibaba in HK).
 

The beatings will continue until morale improves.

[UK]

RE sentiment: https://www.wsj.com/articles/alibabas-u-s-shares-fall-to-lowest-since-2019-as-china-cracks-down-11629240410

 

Another factor pressuring U.S.-listed Chinese businesses is Afghanistan, said George Ball, chairman at the investment firm Sanders Morris Harris. He said traders worry that China’s potential growing influence might empower the Chinese government to enact even more stringent regulations. “The American inability to deal with the threats in Afghanistan is making traders think that China is going to be all the more stronger,” Mr. Ball said.

 

 

[fareastwarriors]

+BABA

[backtothebeach]

Poor man's covered call on BABA:
 

BOT BABA JAN 20 '23 100 Call Option 82.10 USD

SLD BABA  AUG 27 '21 185 Call Option  1.50 USD

 

Net cost $80.60

 

Either a 10-12% return in a bit more than a week if the short call goes in-the-money, or I can keep selling calls, possibly rolling them up, chipping away at the $9 time value in the long call.

[boilermaker75]

Wrote 47-strike, Aug 20 expiration WFC puts for $0.32 per share.

[Gregmal]

shorted a few CLF $22 puts for 8/27

[Monsieur_dee]

Bought a starter in wix a few days ago. 

[flesh]

baba ootm leaps, it's either asymmetric or not, right?

[Dynamic]

Just wrote some more BRK.B Puts, $280 strike, 27th Aug and 3rd Sep expiries.

Still have a bit more unexposed cash, so might take another bite today.

[Spekulatius]

Was looking at that potential FCF gusher SU and just decided to buy some BTI instead. Couldn't help myself.

[rkbabang]

Sold PSTHWS (bought at $3.30 sold at $1.45) and bought more APTS. 

I'm still holding PSTH.

[boilermaker75]

7 hours ago, Dynamic said:

Just wrote some more BRK.B Puts, $280 strike, 27th Aug and 3rd Sep expiries.

Still have a bit more unexposed cash, so might take another bite today.

[fareastwarriors]

Picked some more APTS at 11.50

[wescobrk]

On 8/7/2021 at 3:00 PM, TwoCitiesCapital said:

 

+1

 

Hadn't considered to check the NAV, but ultimately this should act as a super leveraged exposure to rising 20-year rates which was my intention. 

if the 10 year treasury were to hit 2% by year end, what kind of ballpark return would pfix earn? thanks.

[gfp]

DISCK, PSTH, CBRL, MKTW

[TwoCitiesCapital]

4 hours ago, wescobrk said:

if the 10 year treasury were to hit 2% by year end, what kind of ballpark return would pfix earn? thanks.

 

Hard to say exactly - depends on volatility and etc since these are options. Also, the benchmark rate is the 20-year and not the 10-year. 

 

But my best guess is that it'd probably be in the ballpark of ~40-50% returns for a similar move in the 20-year treasury with no additional curve steepening between the 10- and 20-year rates. 

[ERICOPOLY]

On 8/17/2021 at 1:09 PM, fareastwarriors said:

Picked up more shares of MSGE at $62.50.

Can't wait for 50s...

 

It should have nothing to hold it back now with the September booster shots for everyone.  The Israeli data on the effectiveness of a 3rd booster shot against Delta shows this to be so.

 

 

Edited August 23, 2021 by ERICOPOLY

[Pistachio_Lawyer]

Got me some BABA. Let’s do this boys 

[wescobrk]

$152 that touched I think yesterday might be the closest we will see of my $150 post a few weeks ago.(Baba)

Edited August 24, 2021 by wescobrk

[fareastwarriors]

add to my JBGS position

[longlake95]

Added to HTL. A gift from the financial gods.