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PGN/Pharm - What happened to the circuit breakers? Man, I have no faith in these systems at all!
Hedges/Tcha - I think we did those on Friday. TZA is good as you can sell Nov $23 puts for $1.55 and that pays for a $25/31 bull call spread at $1.85 so net .30 on the $6 spread that’s $1.80 in the money now (up 500% to start!).
EDZ is also good if our earnings are a miss and you can sell Nov $24 puts for $1.25 and that pays for most of the Nov $27/31 bull call spread at $1.40 for net .15 on the $4 spread that’s $1.80 in the money so up 1,100% if they flatline from here!
OIH/Rez - Oh, we got out of those the next day. I’d hang on at this point through Wednesday but any chance to get out even, take it.
Flashes/Pharm - I don’t care if you don’t trust the market - trusting the government to pay you back at all in 10 years is dodgey and believing that the dollars they give you after they rack up another $15Tn in debt (not to mention after a decade of unfunded baby boomer obligations coming home to roost) will be worth anything like the dollars you gave them a decade before is not even in the realm of rational. I am not joking - it’s not… People buying long-term TBills are simply not thinking things through at all.
Disclosure: Positions as indicated but subject to change
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Phil's Warning On TBills and 2 Downside Hedges 0 comments
Disclosure: Positions as indicated but subject to change
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.
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