what are you selling today?

[Spekulatius]

Reduced $CNC as it reached my target valuation.

[Red Lion]

Sold GOOGL $112.50 and META $175 puts expiring this Friday. Looking to add to META and start GOOGL positions and round out my portfolio a little bit since I don't have much tech exposure. 

[Spekulatius]

LBRDA (at a small loss). Selling anything with a high debt load. BERY was another one in that bucket I sold a while ago.

Edited July 20, 2022 by Spekulatius

[Red Lion]

Rolled my ATM $112.50 GOOGL puts expiring tomorrow to  $110 GOOGL puts expiring next Friday (after earnings) for a $1.20 credit. 

[Xerxes]

Not sure where to put this. Looks like it belongs to the “sell thread” 

 

Edited July 24, 2022 by Xerxes

[Spekulatius]

23 minutes ago, Xerxes said:

Not sure where to put this. Looks like it belongs to the “sell thread” 

 

Elon Musk is making a lot of enemies lately.

[CorpRaider]

Oof. Jeffersonian level character flaws.

[lnofeisone]

On 2/14/2022 at 1:59 PM, lnofeisone said:

Sold 15 2024 SHLX puts on Friday. The floor here is $12.89 and puts are trading at 3.5. I think it will take way less time than 2 years to get this closed out with Shell's 72% ownership. There is also a potential that the bid will be increased - say if it goes the way TOO/Brookfield saga played out (28% increase in a bid). I not too optimistic on the latter scenario and see this just closing out similar to Enbridge roll up.

 

Thanks @thepupil for flagging this one. 

This worked out rather well. Shell raised the bid to $15.85 so the options are worthless. I also had a decent diagonal that I kept rolling. Again, thanks @thepupil for getting this one on the radar.

[Spekulatius]

Sold PYPL on Elliot bump.

[Red Lion]

Decided to pick up a quarter in front of a steam roller, and sold some $52 KKR puts expiring Friday for $0.60.

[sfbm21]

On 7/27/2022 at 11:51 AM, Spekulatius said:

Sold PYPL on Elliot bump.

Why? Is n’t it a tailwind? Buybacks, cfo and cost cutting and the Elliot.

[backtothebeach]

STLCO

 

Betting on a drop towards the tender price range to buy back in. My timing with Stelco has been terrible in general, so I may be wrong.

[nwoodman]

50% of my ATCO stake

[Castanza]

Sold ATCO in non-taxable accounts. 

[Xerxes]

Does this go to the sell thread

 

[nwoodman]

Sold another 25% of original ATCO position and rolled it into MKL

[SafetyinNumbers]

Seems like a lot of ATCO sellers! I’m curious on your rationale. I have been buying some to play the arb and there seems to be endless supply.

[Gregmal]

5 minutes ago, SafetyinNumbers said:

Seems like a lot of ATCO sellers! I’m curious on your rationale. I have been buying some to play the arb and there seems to be endless supply.

Remember blackberry?

[SafetyinNumbers]

10 hours ago, Gregmal said:

Remember blackberry?

I do but I don’t understand the relevance to ATCO except Fairfax is a common shareholder.

[Gregmal]

Prem has weaseled out of deals before. This one has conflicts. No guarantee on a close. Theres plenty of good alternatives out there right now, so waiting months for a few % with the possibilities of a small bump to a break and a big decline arent exactly stellar risk/reward. 

[SafetyinNumbers]

1 minute ago, Gregmal said:

Prem has weaseled out of deals before. This one has conflicts. No guarantee on a close. Theres plenty of good alternatives out there right now, so waiting months for a few % with the possibilities of a small bump to a break and a big decline arent exactly stellar risk/reward. 

Prem isn’t putting any new money up. Presumably he’s indifferent. 

[Gregmal]

29 minutes ago, SafetyinNumbers said:

Prem isn’t putting any new money up. Presumably he’s indifferent. 

Maybe. But all that matters is the perception. Its not a will he or won't he issue. Its optics.

[Viking]

Lightening up on some of my oil positions. Went way overweight a week ago when they cratered. CVE is up almost 15% in the past week. MEG +17%. Oil is still my largest weighting. If oil sells off aggressively again i will be happy to get overweight again. Gotta love the crazy volatility! 

[SafetyinNumbers]

4 hours ago, Gregmal said:

Maybe. But all that matters is the perception. Its not a will he or won't he issue. Its optics.

It’s all about the odds on the various outcomes isn’t it? 
 

What odds do you place on the consortium walking away with no deal, the proposed deal closing or the deal closing post the special committee extracting a bump?

[Gregmal]

4 minutes ago, SafetyinNumbers said:

It’s all about the odds on the various outcomes isn’t it? 
 

What odds do you place on the consortium walking away with no deal, the proposed deal closing or the deal closing post the special committee extracting a bump?

Maybe we re talking different things. I interpreted your question as asking the rationale for selling. I don’t own it and have little interest but the rationale seems pretty simple. There’s better opportunities for the cash than sitting around for a couple quarters to make a few percent, especially with those uncertainties which whether likely to occur or not are things folks would consider. If the spread was 15%? Sure I’d kick the tires. But not single digits.