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George Acs

 
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  • Boring Was Sexy While It Lasted [View article]
    No, didn't sell any puts this week, other than on weekly $27 VIX

    As far as SHLD goes, with less than an hour left to Thursday's trading, so far the decline this week is only about 6%, well within the implied move predicted by the option market. Barring another $2 or so decline tomorrow there's a chance that the 1% ROI trade would work out.
    Aug 21 03:16 PM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    SBGI has large family ownership and has been expanding outlets, including some large markets, like Washington, DC. They've quietly become the largest owner of local TV stations, but are still really under the radar.

    One thing that had me concerned prior to the Supreme Court ruling was that one of the family insiders, a company Vice President, sold his entire holding in the days right before the court decision. At this point, though, that's ancient history, but did get some attention back then, at least from me. As it turned out, if his decision was in any way related to the upcoming decision he was way off in his judgment.
    Aug 19 03:20 PM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    I'm not aware of any additional high profile litigation, certainly not on the level of the Supreme Court decision regarding Aereo, which was seen by some as a threat to broadcast advertising revenues.

    SBGI has a very high beta, so you would expect that its premium would reflect some of that volatility.

    I added shares last week and it's taken a big chunk of the healthy option premium to offset the drop in share price, but there's a month until expiration and a dividend next week to make the wait easier.
    Aug 19 01:54 PM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    I have, and probably always will, those kinds of positions and for me, they call for patience or using them as a strategic tax loss.

    If the volatility was higher I would love the opportunity to make any additional premium, even at the risk of assignment at a strike price below cost for that lot. But with volatility so low it gets hard to justify the risk and reward, unless the reward may also include tax advantages to finally taking the loss.

    However, if adamant on wanting to get something from the position while waiting, look at trying to sell the calls if there is even a single day with a price spike. There's nothing better than selling calls into price strength. Although sometimes that initial surge will be the start of a more sustained climb higher, more often than not it is just part of the back and forth that goes on all the time, as most stocks move up or down in increments unless there is some significant news.
    Aug 19 08:56 AM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    I'm not really complaining about FCX, because the dividends have been a saving grace, but my currently open positions are still trailing the S&P 500 for their respective holding periods. FOr me, that's always the ultimate yardstick. AT the moment, however, I think the recent pullback may be a good opportunity to assemble a combination of gains from premiums, dividends and capital gains.
    Aug 18 08:34 AM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    I remember when both SHLD and GS were selling at about $180 or so, sometime back in 2006 or 7 and I only had enough money to do something worthwhile with one and not the other.

    While Goldman took its hits in the time afterward, I'm still happy that I chose Goldman (also indebted to Buffett) rather than succumb to the allure, promise and stories over at Sears.

    There have been opportune times to dabble in SHLD in the meantime, but what a horrible story of (mis)-management and squandered promises.
    Aug 18 08:31 AM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    Thanks, but if borrowing from my lexicon will make you sound cool you need to hang out with a much different crowd.

    That may be a topic best discussed with your shrink, although I'll just stick to the prescriptions, rather than the discussions.
    Aug 18 08:28 AM | 1 Like Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    That is the prefect way of looking at it. There really are a series of battles going on and the goal is to keep pushing the enemy back, buy time and collect more munitions until yoou can conquer.
    Aug 17 10:24 PM | 1 Like Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    I had calls written on CREE at $53 and then also sold $44 puts, that I closed a few minutes before the close on Friday, rather than rolling over as its price hovered at $44 heading into the close.

    The CREE $53 calls were the result of eventually taking assignment on $51 puts from the April 2014 earnings cycle. In the meantime I had picked up a few dollars in premium, taking the cost basis for that specific lot down to about $47, so it's not in too bad shape.

    Like @raykrv6a, I've been writing puts and calls on Cree for a while, having had several lots over the past year or so. I don't really add the performance of the various lots together (except as an exercise to demonstrate how a syncopated buy/hold can outperform a traditional buy and hold), preferring to let each lot stand on its own. So at the moment, this one lot, which is now about 3-4 months old is running a loss. If I did add them together, as with for tax purposes, both Uncle Sam and I will likely be happy.

    What I do expect for Cree, though, is that it will trade in the $47-$51 range for a while and offer some great covered option opportunity, but I would wait for it to show some ability to hold $45 first.
    Aug 17 10:16 PM | 1 Like Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    Nike is a stock that is always on my list but I have never pulled the trigger. I really don't know why that's the case. I always get re-interested at dividend time, but still haven't found a reason for action or inaction. It just sort of falls by the wayside.

    Too bad. In hindsight it continues to be a really good selection. Quality company, quality products, price stability, premiums and dividends. It doesn't get much better than that.

    OK. You may have convinced me.
    Aug 17 03:33 PM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    Thanks.

    My phrasing was awkward. I was referring to the next week, as opposed to the coming week, but should have said "the following week," in order to be more clear.

    Or I could have just said the actual date, but usually only do that if the earnings are in the current week and the trade is of the "PEE" variety, which BBY could be next week (meaning the week of Aug 25 - 29)
    Aug 17 12:21 PM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    Thanks.

    You're right. Many have been high on FCX, but they had done so at prices higher than here in the past month. I think now may be a good time, but not just for its gold and copper, but I think that they will soon be in a position to report some real benefits from their energy acquisition nearly 2 years ago.
    Aug 17 12:17 PM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    I should have known that to be the case, as it would seem ludicrous to try and compete with Italians on anything related to fashion or food, including coffee. I suppose you wouldn't see to many Baskin Robbins, either. But on the other hand McDonalds started popping up in France anything seems possible.
    Aug 17 08:56 AM | Likes Like |Link to Comment
  • Investor's Remorse [View article]
    Although I have to tell you, it was so cold this past Thanksgiving up there, I'm hoping that the kids decide to alternate.

    On the plus side for getting back up there, the future mother-in-law is a graduate of the Culinary Institute and is a great cook. She puts together an incredible menu.

    Last year we also did a limousine tour of some of the FInger Lakes wineries and somehow, maybe it was the alcohol, but that Friday after Thanksgiving was much, much warmer.

    So there's that.
    Aug 17 08:51 AM | Likes Like |Link to Comment
  • Boring Was Sexy While It Lasted [View article]
    Clearly we need to review some internet hygiene, regarding what may be appropriate to click on and what probably isn't. I would begin with an askance look at certain buzzwords.
    With SHLD caution is always the key when earnings are coming up, but that is generally the case with most of the stocks highlighted for earnings related trades. However, the presence (again) of expanded weekly options makes managing the put position somewhat easier in the event of an adverse price move that is outside of the implied volatility.
    Aug 17 08:45 AM | Likes Like |Link to Comment
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