Love it. Done and done. Thanks pro

Re OSTK dividend, it comes with a 6-month lock up period and you have to open a Dinosaur brokerage account to sell it. Wonder what type of fees Dino charges, the liquidity of that type of investment, and if it's worth the trouble for the dividend. Thoughts?

Also, how will calls be valued after the dividend? Guessing special pricing to factor in the dividend, which could hurt liquidity, so curious if people are closing out ahead of that or holding on hoping for a mammoth squeeze?

There's an OCC memo dated today being floated on twitter (sorry don't know how to post) saying no adjustment to options with regard to the dividend. That call holders should exercise by record date if wanting to capture dividend. Shorts claiming victory

BenRev09 said:

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There's an OCC memo dated today being floated on twitter (sorry don't know how to post) saying no adjustment to options with regard to the dividend. That call holders should exercise by record date if wanting to capture dividend. Shorts claiming victory

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https://www.theocc.com/webapps/infomemos?number=45643&date=201909&lastModifiedDate=09%2F17%2F2019+00%3A00%3A00

Not 100% confident in my understanding, so bear with me, but wouldn't this force the squeeze? If you were holding ITM puts, wouldn't you want to exercise to capture the value of the option AND hold the stock for the dividend? But if BD's don't have enough stock to cover, they'd force a squeeze to clear them out?

I'm holding OSTK through 9/23 with popcorn ready. Nothing would shock me, but I'd like to see another run. No idea how this plays out. I don't think naked shorts get a pass?

diablo loco said:

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I'm holding OSTK through 9/23 with popcorn ready. Nothing would shock me, but I'd like to see another run. No idea how this plays out. I don't think naked shorts get a pass?

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correct. and any shorts claiming victory are fools - they best close out by Friday. Retesting and breaking 30 wouldn't surprise me.
If a broker gets caught with more shares on borrow than exist, they will simply put the blame on their customer. Whatever hedge funds are shorting this will not go quiet into the night though. They'll dump every naked short they can this week (continuing to make it look like a sell off).

BREwmaster said:

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diablo loco said:

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I'm holding OSTK through 9/23 with popcorn ready. Nothing would shock me, but I'd like to see another run. No idea how this plays out. I don't think naked shorts get a pass?

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correct. and any shorts claiming victory are fools - they best close out by Friday. Retesting and breaking 30 wouldn't surprise me.
If a broker gets caught with more shares on borrow than exist, they will simply put the blame on their customer. Whatever hedge funds are shorting this will not go quiet into the night though. They'll dump every naked short they can this week (continuing to make it look like a sell off).

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See what will happen is I'll put all my trading funds into OSTK and it'll hit $9 next week again

Ok gang, it's Fed decision day, what's everyone's prediction for rates and what the market will do?

Call your shots.

Fed will cut 0.25 basis points. However when he gives his outlook, market won't think it is dovish enough. Expecting 200-300 point DJI swings.

Oh and trump will tweet and call JP a moran!

ROKU is getting hit this morning.

I'm in the same camp as that too.

I'm straddled on the 303 and 297 SPYs for today. Really no telling what he's gonna do.

Without knowing the premiums you paid, both legs might be profitable at some point today.

Overstock news:

https://finance.yahoo.com/news/overstock-com-distribute-freely-tradable-120000787.html

Help me unpack this because all I'm getting is that there is no longer a 6 month hold up period with the dividend stock, OSTKO. Meaning you can trade it as soon as you get it. But there is still no clarity around how the dividend payback looks like for those holding short. Correct? Btw, the stock is up this morning on the news.

Prognightmare said:

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ROKU is getting hit this morning.

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Getting closer to our $135 entry point?

Yep

I think the fed doesn't cut as much as the market has built in, or Trump wants, and we see a drop.

I'm sitting on the sidelines in 401K and 50% cash in another account, waiting.

Flashed below 17, not sure i have the stomach for another 3-6 weeks of this

Since Powell took over as chair in March 2018, the S&P 500 has declined 10 of the last 12 Fed days.

Watching this OSTK plunge makes me feel for some bag holders.

jmcfar_98 said:

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Since Powell took over as chair in March 2018, the S&P 500 has declined 10 of the last 12 Fed days.

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True, but this isn't the same. He raised rates and started shrinking the balance sheet. He's going to cut but the forward comments are going to be the catalyst. The market is priced for perfection and you should be cautious. JMO

Aggie_2463 said:

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Watching this OSTK plunge makes me feel for some bag holders.

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Not the way i wanted to start off the day.

What is the board's entry point on OSTK? debating on adding ROKU or OSTK on the plunge. . .

SFIX continuing after the hanging man yesterday, entering short term puts (Sept 27) prior to their earnings

Oh no, I'm poor again

Quote:

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Facebook's Portal TV Gives Roku Investors Pause
9:20 am ET September 18, 2019 (Benzinga) Print
Facebook, Inc. (NASDAQ: FB) is preparing to launch Portal TV, a clip-on camera accessory for video calling, AR gaming and content co-watching. The news sent Roku Inc (NASDAQ: ROKU) shares lower.

Roku already sells multimedia devices designed to deliver a number of streaming services to any TV or monitor.

Facebook will begin shipping Portal TV Nov. 5 for $149, or buyers can also bundle two Portal devices together and receive $50 off, according to The Verge. Portal TV is one of three smart video chat devices the company is announcing Wednesday.

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Facebook doesn't have the same platform as ROKU.

should be a good buying day?

ROKU
more OSTK


what else

I'm staying away from OSTK until that thing turns around. It is on a plunge. Eyeing Roku here closely.

AVEO got a 180 day extension for compliance.

OSTK, from tasty works

On September 18, 2019, Overstock.com, Inc. (OSTK) issued a press release announcing that the record date of the previously announced distribution of its Digital Voting Series A-1 Preferred Stock will be changed to a date to be determined in the future. As stated in the press release, Overstock.com, Inc. intends to work with regulatory authorities to register the shares to be distributed so that such shares are freely tradable by non-affiliates immediately upon distribution.


Because the record date has been changed to an unknown future date, we will not be closing short positions this week. The stock and its options will remain closing only. If you would like to roll your positions, call or chat the tastydesk and we will force the order for you. However, because there are so many unknowns regarding this corporate action, we do not advise opening new positions.

We will continue to monitor announcements regarding OSTK and will notify any clients holding a position in OSTK if and when they they announce new details.


edit: also, way disproportional amount of puts today(16 sep 27 put, 1.58k contracts)

Yeah, it's an overreaction to Facebook introducing a streaming device.

On the not so good side for those long, ROKU looking like a dreaded h formation

Prognightmare said:

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Yeah, it's an overreaction to Facebook introducing a streaming device.

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why would anyone voluntarily use a FB streaming device when they are already known to abuse the information they gather?