oldarmy1 said:

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DBX trying to break that key $28.50 mark

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27.50 you mean?

Pretty impressed that AVEO is actually going to finish in the green today given their dumbassery...

DBX. I was a daytrader today. When you see that support level hold its a day traders dream.

I was over $22k down on DBX and traded 2 large lots on bounces from $2.10 to $2.40 and now my total position is up over $14k.

Rare conditions on a Friday with options expiration you tend to get a big move early but then range between strikes. In this instance $27 to $27.50.

Other factors that had me posting on DBX all day for you guys was that it was showing signs of reversal. Churning almost all day is clear short covering.

Lastly, we had a tail wind in the broader markets being higher.

At any rate with it now above $27.50 and look at volume into the close. I can give high odds it moves upward on a swing trade.

Please confirm this for me, it looks like 700k shares of MCHP traded in the last 15 mins.

Should put assignments have happened already? I sold some BBOX $2.5 puts which did not get assigned to me today. A few of my contracts were assigned upon market opening but 6 additional contracts went unassigned. Am I off the hook somehow?

PPAag06 said:

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Should put assignments have happened already? I sold some BBOX $2.5 puts which did not get assigned to me today. A few of my contracts were assigned upon market opening but 6 additional contracts went unassigned. Am I off the hook somehow?

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highly unlikely

I realize that. The options don't even show in my holdings anymore but the stock was never assigned. Just curious if anybody else had experience with late assignments. This is the first option I have ever held to expiration.

PPAag06 said:

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I realize that. The options don't even show in my holdings anymore but the stock was never assigned. Just curious if anybody else had experience with late assignments. This is the first option I have ever held to expiration.

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now that is strange, you didn't mention the put contract no longer in your account. Most clear by midday Saturday. I have some contracts that expired worthless today that still show in my tastyworks account.

PPAag06 said:

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I realize that. The options don't even show in my holdings anymore but the stock was never assigned. Just curious if anybody else had experience with late assignments. This is the first option I have ever held to expiration.

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Was it on Robinhood?

Yeah, he'll know by midday tomorrow as things settle.

All my RRTS Calls expired worthless. Yay!

Now lets have a run to $2.50 so I can do it again!

Yes.

PPAag06 said:

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Yes.

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Robinhood closes them ~15 minutes before the expiration on the trading day.

All have been assigned. Thanks!

BBOX up to $1.70

+6 cents after hours

Come on 9/21 $2.50 calls!!

oldarmy1 said:

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BBOX up to $1.70

+6 cents after hours

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are you really that sold on a $24MM market cap company? They have like $500M is shares traded per day on average.

Just seems you would be a "bigger fish" kind of investor.

I can't speak for OA but I believe he's buying the possible sell of a unit of their business that would cause the stock to pop. JMO

Ragoo said:

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oldarmy1 said:

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BBOX up to $1.70

+6 cents after hours

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are you really that sold on a $24MM market cap company? They have like $500M is shares traded per day on average.

Just seems you would be a "bigger fish" kind of investor.

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This is long ball for the grand slam based on some due diligence and riding the horse (Trammell). I select 2 or 3 a year and have hit on 71% winners over last 15 years.

Everyone was bad-mouthing Intelesat (I) under $2.50 but in speaking with leadership they had a road map and vision that made me a buyer. 250k shares that I sold half at just above double. It came back down so I bought more which I sold when it took off. So when it spiked above $20 I was kinda happy about it.

I trade to trade. Large, small - whatever I see as good odds for profits.

I'll add that all those $1.34 buys that I sold a couple of days ago at $1.70-$1.73 produced a
0.2686567164 ROI.

26% beats the pants off the S&P.

oldarmy1 said:

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Ragoo said:

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oldarmy1 said:

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BBOX up to $1.70

+6 cents after hours

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are you really that sold on a $24MM market cap company? They have like $500M is shares traded per day on average.

Just seems you would be a "bigger fish" kind of investor.

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This is long ball for the grand slam based on some due diligence and riding the horse (Trammell). I select 2 or 3 a year and have hit on 71% winners over last 15 years.

Everyone was bad-mouthing Intelesat (I) under $2.50 but in speaking with leadership they had a road map and vision that made me a buyer. 250k shares that I sold half at just above double. It came back down so I bought more which I sold when it took off. So when it spiked above $20 I was kinda happy about it.

I trade to trade. Large, small - whatever I see as good odds for profits.

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trammell does have an impressive resume.... this cheap it might be worth just as an investment in him alone.

aggiehunter3 said:

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Was away from the computer yesterday, but I put on a couple of trades.

1. AAPL $195 weeklies at .27. I'm out half at .65 and letting the rest ride.

2. I also bought AAPL $210 for 9/21 expiration at .81

Rationale: Somewhat a momo play off expected good earnings for goog/amzn. However, the chart for aapl looks fantastic it has been sideways for awhile between 189-192.5 (heavy resistance at 192.5), and gapped up over that this morning. Need to see this previous resistance be a support level.

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These 9/21 210s hit 10.5 today from .81 entry....but don't worry guys, I already sold my remaining at 4.3 on Wednesday....it's fine I'm fine

khkman22 said:

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Questions on a couple of scenarios.

What happens if you have a long-term open options position, say a $70 1/2020 ROKU long call? In December of 2018 they get bought out by AMZN (or whoever) at $75/share. Does the option ever have any value over $5? Does the option ever become worthless before 1/2020 since the stock will no longer exist before that date?

What happens if you are long a $300 1/2020 TSLA put and in June 2019, while they are at $310/share, they declare bankruptcy? Is that option now basically worthless since they will not exist in 1/2020? If they were at $250/share in June 2019, would that change anything?

Just curious how long-term plays may be affected when you may have played a position correctly, but for some reason or another the stock may not be around at your exercise date. And if you happened to be in either of these scenarios, would it be easy to close out your position within a few hours of the news coming out, or do people stop trading those options because there is no longer any point to own the option?

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1. AMZN would announce the buyout price prior to the buyout happening. At that point, the stock price will move rapidly towards the buyout price. You would sell your position prior to the buyout happening. The option will not have a value over $5 and actually would have a value less than $5 to entice the market makers to repurchase your option.

2. In this situation, you pat yourself on the back. Declaration of bankruptcy is a LONG time prior to the company being worthless. The stock itself would go into a long slide and you will happily close your position out for a tidy profit well before the company is closed.

3. Once news comes out stocks and options still trade. There is a reason that TSLA never made it to $420 even after Elon's "announcement." There are always risks to those trades. Also, companies can use bankruptcy to restructure and come back successfully.

The real lesson in these situations is not to hold LEAPs to the end game of either of these scenarios.

Just want to drop this right here....posted two hours ago
https://www.google.com/amp/s/www.marke****ch.com/amp/story/guid/54481cd4-2656-428c-b152-9eed57f04467

Censors market watch lol

First paragraph. Here we go.

Black Box Corporation BBOX+7.19% a leading digital solutions provider, announced that it has entered into a definitive agreement to sell its Federal Government IT Services Business (the "Federal Business") to a private equity firm for a cash purchase price of $75 million. The buyer has agreed to purchase 100% of the equity interests of the Federal Business on a debt-free, cash-free basis. Consummation of the transaction is subject to customary closing conditions and the parties anticipate a closing on or before August 31, 2018. Raymond James & Associates and Jones Day are representing Black Box in this transaction.

Those march19 at 2.50 look good now.

One day after option expiration was mighty nice of them.

I'm assuming someone will jump in with some better analysis but it feels like $5 plus pretty easy. $75M implies cash value of $4.90. Approx 2M out of 15M shares short. 52 week high will trigger alerts all over the place.

Let's go!

9/21 $2.50 calls just got redeemed!!

Roll call for all owners of BBOX. Step 1 complete. This will now make getting their additional financing in order more achievable. It is critical to understand that while this is a huge deal and should certainly spike the stock I am firmly committed to following the strategy laid out. If the shares pop above $3 I sell 36% of my holdings in increments so as not to impact positive momentum.

I only need to sell 36% now due to the previous 2 bounce sells completed.

While the write-up has all of the required usual and customary language on financial risk I remain extremely impressed with Trammell. The guy went out and said he would get the business unit sold by end of August, and he got it done. If you listened to the previous quarterly conference call there were quite a few skeptics on the Q&A portion. Monday's call should be interesting.

Old army, is this a 12 step program?

pfo said:

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Old army, is this a 12 step program?

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All my work hopefully will be done as of Monday. A planted net free holding. I'll set an alert at $10 and forget about it.

They can take as many steps as they want.

For those who haven't bought BBOX yet, is it worth jumping in on Monday morning right when the market opens or waiting to see if the stock drops a little throughout the day? If you are thinking it gets above $3+, does trying to gain a few extra cents matter?