• J Mintzmyer
    Long a pretty sizable position in $MONT Jul14 $20 calls at $1.75, backed up with $17.50 puts at 15c.
    6/11/14
    Reply (17)
    • Mark.ca: I thought you are pulling back from this...
      6/11/14
    • byslkwd: Did I just read correctly- J is buying calls on MONT? Will someone explain what is going on?
      6/11/14
    • Special Situations and Arbs: when did you put this position on
      6/11/14
    • Grand Nagus Kelly: Thinking of adding $MONT to POS Portfolio. Like $MCPIQ, may be too big a pos though.
      6/11/14
    • J Mintzmyer: I put this position on around 1 pm EST. My bet is that the arb spread either needs to decrease if the deal is legit, or $MONT will go to
      6/12/14
    • J Mintzmyer: something crazy like $5 if the deal falls apart.
      6/12/14
    • J Mintzmyer: So on the plus side, I earn like maybe a 30% premium for the spread decreasing which covers the cost of the hedge and still gives me like
      6/12/14
    • J Mintzmyer: 15-20% of profit. If the deal falls apart, I make boku bucks on the puts. I agree with the 50/50 consensus, maybe closer to 60/40.
      6/12/14
    • J Mintzmyer: I believe, I'd bet 100% of my net worth, that $MONT is near worthless, but I can't fight Chinese corruption.
      6/12/14
    • Christopher Wallace: J: looks like you are fighting this one. Lots of other names to make $ on. Can't think it is worthless and be long in same breath.
      6/12/14
    • Christopher Wallace: I have tried to make my money back in the same name before and found I was much better off allocating capital to fresh ideas.
      6/12/14
    • J Mintzmyer: Chris- I think you might be right. I'll see if I can skim to a larger spread and take a tiny profit.
      6/12/14
    • Matthew Lewis: Why not just take your loss and move on?
      6/12/14
    • J Mintzmyer: Hard to 'take a loss' when holding Jan15 puts.... They are at $0. Jun14s are the same story. This up-down spread play is a new trade.
      6/12/14
    • Joshua Heller: Not saying $MONT is the same thing, but are you familiar with the scam on $ANV? http://seekingalpha.com/n/12hzx
      6/12/14
    • labas112: Are they saying that they should have been sold for more than the 22.60? Not sure what this suit means? http://bit.ly/1irrDcn
      6/12/14
    • Joshua Heller: That there was a fake bid, which is what $MONT shorts have been claiming all along. (I am long puts, ie net short)
      6/12/14
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