Have $7 3/15 short puts and sold additional $7 4/18 puts this morning for $0.95. If all happen to get exercised, I'll be averaged in about $6.25. I'll happily collect just the premium though if it bounces off this support level.

oldarmy1 said:

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gougler08 said:

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DE having a good day

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Who bought DE calls yesterday? Who was that. Can't quite put my finger on it.

How about TRNX buying back all of their preferred shares? Finally a longer term positive move.

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I bought some too, hope to see some continuation Monday

SUM is going to breakout and move to a new trend high next week.

Celebrate Team SUM!

ROKU is going to hit $75

DE will be above $162.50 for option heaven

SQ shares and calls on the flash down below $72 was nirvana. I sold covered calls on 100% of the shares on the nice rebound because it's a net free holding. These are only trading shares and the March 15 calls ended the day in the money already up over 150%.

Now as for HEAR it better be above $16 Monday on the way to $17.

Colt98 said:

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Real quick question before close. When trading( as stated this morning, bought both ROKU 70 sq 75 mar 15). Missed selling ROKU when it hit 72. Should I these through weekend, or sell in next 10 min? Not really a question on SQ, think it goes above 75 soon. And that statement probably answers my question about ROKU also, just curious y'alls thoughts..9

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Sorry, missed this. If you held you did right.

HEAR already seeing a little movement in after hours

oldarmy1 said:

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SUM is going to breakout and move to a new trend high next week.

Celebrate Team SUM!

ROKU is going to hit $75

DE will be above $162.50 for option heaven

SQ shares and calls on the flash down below $72 was nirvana. I sold covered calls on 100% of the shares on the nice rebound because it's a net free holding. These are only trading shares and the March 15 calls ended the day in the money already up over 150%.

Now as for HEAR it better be above $16 Monday on the way to $17.

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Oh I like that, safe travels home if you haven't already come back sir

So who all stepped up once $72 was hit and bought SQ?


Patience and allow the algorithms work. I built a time machine.

oldarmy1 said:

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So who all stepped up once $72 was hit and bought SQ?


Patience and allow the algorithms work. I built a time machine.

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You need to give a couple of loyal followers the direct number to the OA bat phone.

I formally submit my application for said number.

Does anybody have thoughts on Ruger? Seems they bounce between mid to upper $40s and lower to mid $60s. They're at $51 now and was thinking if they drop to $48 or so it might be worth looking at them at that point for a short to mid term trade.

OA,

How do you get trading ideas to research over the weekend? Just curious.

Prognightmare said:

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OA,

How do you get trading ideas to research over the weekend? Just curious.

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1) rotational/seasonal industry reports. Example: I focused posts on FMC because a large portion of their business is agricultural related. Pull up a chart and you see it has a pattern connected to end of growing season to spring planting. The 2350 sell off made it a key trade since a market recovery would just add to its historical seasonal gains.

2) Unusual volume scans. These may or may not include stock movements but can be an early indicator something worth researching is coming.

3) Scanning medical, government and technology info.

4) Discussions with other large trader contacts.

5) Dart board???

oldarmy1 said:

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Prognightmare said:

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OA,

How do you get trading ideas to research over the weekend? Just curious.

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1) rotational/seasonal industry reports. Example: I focused posts on FMC because a large portion of their business is agricultural related. Pull up a chart and you see it has a pattern connected to end of growing season to spring planting. The 2350 sell off made it a key trade since a market recovery would just add to its historical seasonal gains.

2) Unusual volume scans. These may or may not include stock movements but can be an early indicator something worth researching is coming.

3) Scanning medical, government and technology info.

4) Discussions with other large trader contacts.

5) Dart board???

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OA does StockTwits! Lol

What do you think of MU down here? Their earnings are on the 20th.

Prognightmare said:

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What do you think of MU down here? There earnings are on the 20th.

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I bought MU calls in the first half hour like most entries made. MU under $38 is stealing.

cjo03 said:

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oldarmy1 said:

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Prognightmare said:

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OA,

How do you get trading ideas to research over the weekend? Just curious.

---

1) rotational/seasonal industry reports. Example: I focused posts on FMC because a large portion of their business is agricultural related. Pull up a chart and you see it has a pattern connected to end of growing season to spring planting. The 2350 sell off made it a key trade since a market recovery would just add to its historical seasonal gains.

2) Unusual volume scans. These may or may not include stock movements but can be an early indicator something worth researching is coming.

3) Scanning medical, government and technology info.

4) Discussions with other large trader contacts.

5) Dart board???

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you other yahoos now realize OA would rather throw darts versus get ideas from us, right?

Dart board made the top 5 but B&I Board didn't!

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Oh come on now. He said research.

China compromise on trade coming. Friday was the load up day for a green futures Monday.

Anyone else follow this account?

https://www.cnbc.com/2019/03/10/boeing-737-max-ethiopian-airlines-crash-puts-boeing-back-in-spotlight.html

OA,

If BA takes a hit due to this news, what level should I look to be taking a trading position?

as OA's secretary, Id suggest avoiding BA, this kind of news, while unproven, is getting worse with China: https://www.cnbc.com/2019/03/11/chinese-airlines-ordered-to-halt-use-of-boeing-737-max-planes-caijing.html


just thought I'd post some interesting options volume from this past Friday, all of these have high volume order:

BAC March 15 28.5 call


Ebay March 29 36 call (really like Ebay price action and time frame)


SLB March 15 37.5 Put (not a fan of this one)


MRK April 19 80 put (one of my favorites)


AABA April 19 65 put (one of my favorites)


RF March 15 17 Call (not a fan)

In honor of this being page 420, here's a guy that has contributed to shaping my thoughts on the MJ industry and potential investments.



latest podcast interview, he talks the same stocks now a days, the interviewers are hard to listen to but the interview is great.

then again, BA, https://texags.com/forums/12/topics/3025121

Quote:

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Having personally flown the Max around 14 flights I can tell you the differences are not as great as some make it out to be. It would be a folly for me to try to dive too much into the technical differences - as many pilots can attest, we fly the plane, we don't build the plane. However, I believe my company and Boeing have done their part to educate us on the subtle differences.

As far as what the B-1 pilot said, I call BS. I have flown multiple aircraft in a level D simulator - the B-777, B-757, A-300 and the DC-10. With minimal coaching I was able to safely land the "aircraft" in the simulator. Were the landings the best? No. But I believe most part 121 pilots would have had a similar result.

Bottom line - I will wait til the NTSB and FAA coming out with a ruling. I am also scheduled to fly the MAX later today in fact and have zero concerns.

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If thats the case, this is good info to have in back pocket once all panic is gone. Very hard to predict, but ill wait for volume to dry up. If NTSB or FAA gets involved, this could be a long process. ( i really like right above the 350 level, imo)

Thanks, it's at $385 down $38 in the PM,

Offshore Oil Drilling Stocks Are Energy Bargains -- Barrons.com

Quote:

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By Jack Hough

The offshore drilling business has suffered its deepest downturn in 30 years, as investment capital has rushed to land, chasing shale. But there are early signs of a return to the sea, and investors who dive in now could profit nicely.

The clearest sign of a turnaround is the world-wide offshore rig count, which is up 28% over the year through February, according to a report this past week from Baker Hughes. A more nuanced clue is where some of these rigs have come from. Kurt Hallead, an analyst at RBC Capital Markets, counts 25 dormant or "stacked" rigs that have been put back to offshore work over the past 15 months.

"If there were ample supply, an oil company would wait for an active rig to become available rather than contracting one that's been sitting on a beach for two years," says Hallead.

This isn't an industry for investors who like stocks with low price/earnings ratios and steady earnings. The shares are deeply depressed; Transocean (ticker: RIG), the blue chip among rig owners, briefly topped $150 a share in 2008 but recently changed hands at $8 and change. The company continues to lose money, and even though contract rates for future rig leases have recently jumped, that might not turn into a full-blown earnings recovery for years.

History says to buy the stock before the earnings return. The recent bottom for the offshore rig utilization rate, hit in 2017, was under 60%. The industry hasn't looked that bleak since the mid 1980s. An investor who bought a basket of offshore stocks back then made about 35% a year annualized for three years as utilization climbed back to 80%, reckons Hallead.

Some contrarians have already waded in. Graeme Forster manages the international equity strategy at Bermuda-based Orbis Investment Management, which oversees $33 billion. Since inception in 2009, the strategy has turned a $10,000 investment into $28,560 after fees, versus $19,353 for the average international equity fund. He has taken positions in Transocean, Ensco (ESV), Diamond Offshore Drilling (DO), and Oslo-based Borr Drilling (BDRILL.Norway), founded in 2016.

Capital flows back and forth between offshore and onshore drilling in cycles, says Forster. When all of it has flowed in one direction, run in the other.

"There's nothing wrong with shale, but there's so much capital there that returns have been crushed," says Forster. "And you're never going to fulfill all the world's energy needs from shale."

All else held equal, shale drilling offers a faster return than subsea drilling, and a lower upfront investment, but also faster depletion of reserves. Offshore wells can pay off for many years, if the price of oil cooperates. The recent downturn forced a reckoning among offshore companies. Some smaller outfits went bust. Others consolidated. And major oil companies took hard looks at their offshore assets, prioritizing ones that can earn attractive returns with Brent crude at or below $50 a barrel. Brent recently sold for $66 a barrel.

Meanwhile, costs for offshore drilling have fallen. One reason is that some service companies have joined forces. In 2017, Houston's FMC Technologies, a subsea equipment maker, merged with France's Technip, a subsea installation and engineering concern, to form TechnipFMC (FTI). The year before, Schlumberger (SLB) bought Cameron International, combining well technology and project management with flow equipment.

"Oil companies used to have to deal with a lot of different service and equipment companies, which led to cost overruns and delays," says Evercore ISI analyst James West. "Now there's more one-stop shopping, and costs are lower."

West predicts a rebound for deepwater drilling, and favors shares of Transocean, Ensco, and Rowan (RDC). Last month, shareholders of Ensco and Rowan approved an all-stock merger. He's also bullish on Diamond, but it's already heavily contracted, and might not have as much upside when conditions pick up. He calls Transocean, which appointed National Oilwell Varco's Jeremy Thigpen chief executive in 2015, the best-managed company in the group, and yet says it has plenty of room for improvement after its December purchase of Ocean Rig UDW, which didn't have especially strong contracts. Transocean owned the Deepwater Horizon rig, which had a deadly explosion and massive oil spill in 2010.

Forster says he's investing in a handful of offshore stocks because all are likely to do well when the market comes back. He is particularly bullish on tiny Borr, which has scooped up 29 rigs near the bottom of the market at roughly half of what it would have cost to build them. Rigs can last 30 years, so the economic value of Borr's rigs through the next upturn is likely higher than what's indicated by the company's book value, Forster says. Borr recently traded at close to book value.

Rig leasing companies have diverse fleets. For shallow water, relatively inexpensive jack-up rigs are platforms with legs that can extend to the seabed. Semisubmersibles are floating platforms with large pontoons that can take in water to put much of the bulk just below sea level, increasing stability in rough water. Deepwater drill ships can carry plenty of equipment and are exceptionally mobile, making them useful for exploration.

The number of semisubmersibles peaked at 171 in 2014 and plunged to 53 by 2017 as companies scrapped rigs, according to Hallead. Recently negotiated contract rates have topped $300,000 a day, up from about $150,000 a day at the low, but many of the new contracts won't start for a year or more, he says. Back in September, he upgraded Transocean, Diamond, Rowan and Noble (NE) to Outperform.

David Anderson at Barclays has been bearish on offshore drillers for five years, and remains cautious, but began testing the water last month, upgrading Transocean and Diamond straight to Overweight from Underweight. Fleet quality will matter most from here, he predicts, as companies with modern, efficient rigs will be the first that win new work and will command the best rates.

Christopher Jacobsen, a derivatives analyst at Susquehanna Financial Group, has a strategy for investors who only wish to dip a toe into deep-sea drilling. Buy the August $8 call options on Transocean, he recommended this past week.

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Good read

HEAR solidly above $16.

oldarmy1 said:

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HEAR solidly above $16.

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That's what I like to HeAR!

https://www.cnbc.com/2019/03/11/nvidia-to-acquire-mellanox-technologies-for-about-7-billion-in-cash.html

Quote:

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Chipmaker Nvidia on Monday announced plans to acquire peer Mellanox Technologies for about $7 billion in cash.

The deal is Nvidia's biggest-ever acquisition and is expected to boost its business of making chips for data centers, allowing it to reduce its reliance on the video game industry, for which it is best known as a major technology vendor.

Financial news website Calcalist had reported earlier on Sunday that Nvidia had outbid Intel for Mellanox.

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What price is good for NVDA?

Thanks

Markets are liking the acquisition early but will be surprised if more than a day without a cycle.

2763 looks like key resistance level on /Es going forward. First line in the sand to see if this is just a bounce or something more. 50% retracement closer to 2771.

SUM trying again, made it a bit higher than Friday but needs a push

Got into Boeing a few years ago at 129.5 and had been looking to sell half the position prior to this weekends news.

Holding on that with the news over the weekend.

Any suggestions on when I should go ahead and do this?

CRON put paying off. Taking the 71% on 3/4 of them and holding rest to see if no rebound gives a breakdown below $20.