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DRYS is a buy after Friday's sell off.

|Includes: DryShips Inc. (DRYS)

Oppenheimer analyst G. Scott Burk said DryShips announced another ATM offering, with plans to sell up to $475 million of stock from time to time. Burk noted that at its current price of about $10 per share (before the May 8 open), this implies another 47.5 million shares added, or dilution of about 26% to current shareholders.

However, at 7.80/share, one can buy the currrent underlying shares and write the june strike 6 calls at 2.55/contract for anintrinsic time value of .70/share!  Not bad.  At 6/share, would you be willing to call it a bargain?  I am!