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Author: rjf53 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 14196  
Subject: Jim's in the money. Date: 1/29/2013 6:51 PM
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http://money.msn.com/business-news/article.aspx?feed=BW&...

B
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Author: QuickCarrera Big red star, 1000 posts Old School Fool Global Fool Motley Fool One Everlasting Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13149 of 14196
Subject: Re: Jim's in the money. Date: 1/29/2013 7:46 PM
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LOL, up 10% after hours....

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Author: mungofitch Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13150 of 14196
Subject: Re: Jim's in the money. Date: 1/30/2013 6:19 AM
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You sure have to wonder about my company picking ability when so many
investors love the stock better when the boss quits!
All my puts are out of the money now (I've had 17,18,19 & 20 lately).
Hope this isn't the start of a big rally. As a put writer I love a firm
that keeps worrying people year in and year out while the stock goes nowhere.

USG was my fave for that for a long time, but unfortunately it has rallied.
I loved it at $8-10, even $14-15, but I'm a whole lot less keen at $30.
Glad to be out.

Jim

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Author: stillwater9999 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13151 of 14196
Subject: Re: Jim's in the money. Date: 1/30/2013 9:26 AM
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He never looked good in a hardhat.

http://www.bizjournals.com/columbus/morning_call/2013/01/che...

sw

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Author: BFatConservative One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13152 of 14196
Subject: Re: Jim's in the money. Date: 1/30/2013 9:27 AM
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Jim,

How far out are you writing these puts? What ARR are you targeting?

I tried a similar strategy with CHK's little brother SD, hoping for a similar outcome that you are now gleefully experiencing (i.e. ouster of Chief Executive Money-Pocket-Liner).

Unfortunately my puts turned into shares now I'm now in a glass case of emotion watching the roller coaster of optimism/terror. Alas, my lack of oracle-vision is what limits me from mungofitch status.

MjH

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Author: TMFHockeypop Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13153 of 14196
Subject: Re: Jim's in the money. Date: 1/30/2013 9:33 AM
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McClendon will join his protege at SD (let's start that rumor).

Bob

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Author: rjf53 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13154 of 14196
Subject: Re: Jim's in the money. Date: 1/30/2013 10:26 AM
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McClendon was "thrilled" with early progress in the Utica shale play.

I found this quote to be rather funny. They have sure been pretty tight lipped about results that he supposedly was thrilled with.

Just guessing but I'm thinking every time they got a new well result he said something more like this.

##%##@@@*##** more fricking (not fracing) ng. :<)

B

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Author: rjf53 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13155 of 14196
Subject: Re: Jim's in the money. Date: 1/30/2013 10:56 AM
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Just heard on CNBC

45 Million exit package, for termination "without cause".

Great job if you can lose it. :<)

B

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Author: rubberthinking Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13156 of 14196
Subject: Re: Jim's in the money. Date: 1/30/2013 1:02 PM
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45 Million exit package, for termination "without cause".

are you saying there was no cause?

Dave

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Author: rjf53 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13157 of 14196
Subject: Re: Jim's in the money. Date: 1/30/2013 1:32 PM
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are you saying there was no cause?

Just reporting what I heard.

My theory is the Board dumped him "cause" they got tired of having to wear bags over their heads when they attended meetings. :<)

B (Got out of CHK be-cause of Aubrey, no plans to rush back in.)

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Author: kahunacfa Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13160 of 14196
Subject: Re: Jim's in the money. Date: 1/31/2013 1:39 AM
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45 Million exit package, for termination "without cause".

are you saying there was no cause?

Dave
- rubberthinking | Date: 1/30/2013 1:02:15 PM | Number: 13159

There was absolutely no cause, other than the fact that the Public Shareholders took Aubry's company away from him.

Founders of iconic companies should be "cut some slack." in my Professional Opinion. Without Aubry's Entrepreneurial risk-taking the company would not even exist. The same is true of Adobe, and Mesa Petroleum without T. Boone Pickens <a graduate of Oklahoma State University -- OSU. Go Cowboys!!! Go Go Go!!!!!

Kahuna, CFA
Investment Professional
1974 - Present
Wisconsin Badger

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Author: mungofitch Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13161 of 14196
Subject: Re: Jim's in the money. Date: 1/31/2013 5:36 AM
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How far out are you writing these puts? What ARR are you targeting?

I have been doing fairly short term ones repeatedly, slightly OTM.
The price moves around a lot, so by sticking fairly short time frame
I don't end up with options way in or way out of the money.
When done repeatedly the rate of return is pretty good.

I don't target a particular rate, other than never doing puts without
a time-premium-only rate of return of at least 15%/year annualized.
The CHK ones have been so juicy that the rates have been much higher than that.
The stock has risen 4.9% in the 7 months I've been doing them and my IRR to date on these is 24%/year.
At the moment I have strikes 18,19 and 20 having just closed my 17s
yesterday as there wasn't much left to be made on them.
Expirations Feb-April.

Usually I like to go for 6-12 months out on most stocks. More margin of safety.
I find a good rule of thumb is the lowest strike and longest term that
still gives me at least my 15%/year time premium, but higher strikes
for the stocks that I really want to keep positions in longer term.

The main thing of course is choosing the underlying security.
I wouldn't do a put on CHK or anything else at any price unless I thought
the firm was going to stick around long term and worth more than current market price.
Frequently I'm wrong, but I have to at least believe that based on some evidence.

With premiums generally so low lately I have only a tiny number of
securities that I like so much I still consider puts worthwhile.
Next time the VIX is over 25 there will be better hunting.

Jim

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Author: rjf53 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13163 of 14196
Subject: Re: Jim's in the money. Date: 1/31/2013 6:25 AM
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Founders of iconic companies should be "cut some slack." in my Professional Opinion.

Here is a novel idea, if Aubrey or any other Founder wants "some slack" they can just keep their company private.

On the other hand, when you want my money...

B (Thinks enablers are part of the problem.)

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Author: BFatConservative One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13165 of 14196
Subject: Re: Jim's in the money. Date: 1/31/2013 11:50 AM
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Thanks Jim - appreciate it.

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Author: tytthus Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13168 of 14196
Subject: Re: Jim's in the money. Date: 1/31/2013 7:47 PM
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Founders of iconic companies should be "cut some slack."

aubrey has been cut way too much slack already.... founder well program not enough? how about personally owned restaurants getting CHK catering contacts? anyone have an antique map collection for sale?

he owns less than half a percent of CHK shares...

this news would have made my week, but i already had other good news...

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