Author Topic: What are you buying today?  (Read 1383180 times)

Cardboard

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Re: What are you buying today?
« Reply #4160 on: September 04, 2019, 05:32:08 AM »
"Berry

Sold some of my $47.50 puts for $9.25 today (paid $1.90 for them).  In short, I am going long the stock by exiting the puts.  Looking to use the put proceeds to either buy more stock and/or calls."

Maybe you could expand on the Berry thread instead of here but, would like to understand your approach as I thought you were squarely long the stock.

Cardboard


Gregmal

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Re: What are you buying today?
« Reply #4161 on: September 04, 2019, 06:56:30 AM »
Taking DDS for a ride @59

no_free_lunch

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Re: What are you buying today?
« Reply #4162 on: September 05, 2019, 11:24:28 AM »
MSGN.

Gregmal

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Re: What are you buying today?
« Reply #4163 on: September 05, 2019, 12:38:42 PM »
Bought some FIZZ $40 calls...If anyone is due for a bounce, its them. If not, the calls act as a stop loss.

writser

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Re: What are you buying today?
« Reply #4164 on: September 05, 2019, 01:20:09 PM »
More SMTA. As far as I can see all looks good. Vote passed, portfolio sale expected to close in a few weeks, Shopko term loan fully recovered. According to the proxy management expects $8.50 - $9.35 per share in distributions. My own calculations get me closer to the top of that range. In fact even slightly above that range but that probably means I am too optimistic about the workout assets.

Shares were initially up today (what I would have expected) but around the close there was massive volume and SMTA ended down ~2% instead. Best explanation I could come up with is that some funds are not allowed to hold companies in liquidation and had to sell at today's close. Seems congruent with what happened in the market.

But maybe I missed something. Not the most fireproof explanation ever.
« Last Edit: September 05, 2019, 03:04:23 PM by writser »
When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid.

Gregmal

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Re: What are you buying today?
« Reply #4165 on: September 06, 2019, 09:08:51 AM »
Little more DDS. The longer it takes to get the 10Q out the bigger the potential infinity squeeze.

Foreign Tuffett

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Re: What are you buying today?
« Reply #4166 on: September 06, 2019, 09:15:18 AM »
More SMTA. As far as I can see all looks good. Vote passed, portfolio sale expected to close in a few weeks, Shopko term loan fully recovered. According to the proxy management expects $8.50 - $9.35 per share in distributions. My own calculations get me closer to the top of that range. In fact even slightly above that range but that probably means I am too optimistic about the workout assets.

Shares were initially up today (what I would have expected) but around the close there was massive volume and SMTA ended down ~2% instead. Best explanation I could come up with is that some funds are not allowed to hold companies in liquidation and had to sell at today's close. Seems congruent with what happened in the market.

But maybe I missed something. Not the most fireproof explanation ever.

Even back in the $8.40s SMTA still looks cheapish to me. Not hard at all to come up with an expected distribution figure of over $9, even using conservative assumptions.


writser

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Re: What are you buying today?
« Reply #4167 on: September 06, 2019, 09:21:24 AM »
Agreed. Already had a decent position but couldn't resist adding yesterday. Now one of my larger positions. Some potential tax issues due to me living in Europe (FIRPTA) but yeah, management estimates seem conservative. Now we'll see where they will burn some money to get distributions in line with their estimates ..

Bought some SYRCF today. Similar story.
When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid.

kab60

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Re: What are you buying today?
« Reply #4168 on: September 09, 2019, 10:58:38 AM »
SAVE, BERY - bit of BRK the other day below 200

longlake95

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Re: What are you buying today?
« Reply #4169 on: September 09, 2019, 11:52:20 AM »
A 25% add to BERY