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The 10 Most Recent Messages By TMFFischer

Take me back to where I was.
  • Date: 8/30/16 4:10 PM
  • Number: 1034
  • Recommendations: 0
Hi Scott,

I strongly believe there's too much debt. If bondholders are to get a reasonable payout, CZR will almost surely have to take the parent into bankruptcy. The company is too weak and too debt-laden.

It really is a
(Continued...)
  • Date: 8/30/16 3:46 PM
  • Number: 18666
  • Recommendations: 0
Yup. And don't feel bad. Plenty of Fools have made this mistake before. So, sell to close the put, and then sell to open the put. :)

Best,

Jeff
  • Date: 8/30/16 3:45 PM
  • Number: 18665
  • Recommendations: 0
Hi,

Here on the site, click Home (up above, left). Then Make Your First Trade is right there, at top. Click that.

Here it is, too:

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  • Date: 8/30/16 3:44 PM
  • Number: 18664
  • Recommendations: 0
Hi Neil,

Nicely done. It is a Debit, yes. And we typically say just enter a Day order, rather than GTC. Because things could change overnight and you might be a less favorable price than possible the next morning at the open.

More
(Continued...)
  • Date: 8/30/16 3:01 PM
  • Number: 680
  • Recommendations: 0
Yikes, Paul! Thank you! I'll see about getting that fixed right away. Strange! FAZ is still a short. We may even want to add to it. :)

(And see the problem with following 75 boards or so? Can be weeks until I get around to some.
(Continued...)
  • Date: 8/30/16 2:53 PM
  • Number: 3106
  • Recommendations: 0
Hi Oliver,

I just realized you can't do a 5% hedge straight up, since each uncovered put you write is a $20,000 obligation, or about 10% for you right now.

Have you considered the alternative trade, setting up a bear put
(Continued...)
  • Date: 8/30/16 11:58 AM
  • Number: 3105
  • Recommendations: 1
Hi Oliver,

With 5% cash, I probably would not set up a 10% hedge (although it's not a crazy amount of extra exposure). You never want to be in a position where a fall leads to more pressure on your account than you want to take. You
(Continued...)
  • Date: 8/30/16 11:55 AM
  • Number: 3104
  • Recommendations: 0
Hi shunted,

That's true. You assume correctly.

But on part two:

If the market tanks badly, I like that this position will really push us to invest in it during those troubling days... But we should be able to easily
(Continued...)
  • Date: 8/30/16 11:48 AM
  • Number: 3884
  • Recommendations: 0
Keep in mind, Jim's guidance was to target 1% per month in income writing these puts. There are 4.7 months until expiration, so you want 4.7% at least. On the $20 strike price, that $0.94.

So, you could accept $0.94 per share to write
(Continued...)
  • Date: 8/30/16 11:44 AM
  • Number: 1243
  • Recommendations: 0
Just be really careful not to let the $100 calls get exercised, because you'll lose your shares of DIS (if you care about that).

We'll be managing the $100 calls to avoid exercise; but stay on top of it with us so you don't end
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Take me back to where I was.
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