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Bopin' till i drop.
  • Purchasing AIG 0 comments
    Aug 27, 2012 10:42 PM | about stocks: AIG

    With the proceeds from the Starbucks liquidation earlier mentioned, i will go into AIG (portpro). The expected proceeds on the shares and the puts are 4323.32-265.00=4058.32 allowing the purchase of 118 shares of AIG at the last prices of record. The order will be placed to execute at market simultaneously with the SBUX order.

    I am not trading exposure to SBUX for exposure to AIG. I simply reduce SBUX because i bought 88 shares and sold one put, with both actions being in error. I am simply adjusting SBUX to the deltas alluded to previously in an earlier post today.

    I will add another 49 shares to the nontaxable account which already holds 33 shares in addition to the 118 for a total of 200 in the brokerage (taxable account), and leave the three in the tax deferred retirement account alone for a total exposure to 49+33+118+3 shares or 203 shares or $7013 exposure.

    This action brings the portfolio more in line with the (portpro) position required of 475 shares. or $16390 investment at 2.5%*1.49m*.44 = $16390. I am accumulating AIG. After buying 167 shares tomorrow my exposure will be 200 shares or 6900. I also need to accumulate the warrants Jan 21 call at $45. I have a GTC buy order at 13.45 active on those warrants.

    Disclosure: I am long AIG.

    Stocks: AIG
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