As one of the most exciting stocks in the TMF stable in terms of market movement,I wonder why there are no comments on the boards.Having concluded that there is an excellent chance that the legal cases will be resolved shortly in BOFI's favor, I have been buying September, October and January calls. Those with a $20 strike price (bought a week or more ago) are already showing a handsome profit. I'm now buying $22.50 strikes, because the $20 ones are too pricey.
I certainly agree that I've also been surprised and puzzled by the lack of chatter re:BOFI over this past week considering its sizable moves. i also hold Jan calls(17.5) and bought more Jan calls today at higher strike for similar rationale. Whats fascinating to watch is the dramatic drop in %shares short and days to cover. they've both changed dramatically this week. Love to hear more experienced investors opinion about this phenomenon and the mechanics/anatomy of the "short squeeze"-thanks
I could only find the shares still shorted for 8/15/2016 = 23,038,062.http://www.nasdaq.com/symbol/bofi/short-interestDo you have more up to date information?Comparing this to shares shorted for 7/29/2016 = 24,529,686That is roughly a 1,492,000 decrease in 12 trading days.I estimated the shares sold in those 12 days to be 17,658,000.1,492,000 / 17,658,000 = 8.4%SO only 8.4% of the buying in these 12 trading day were done to by back shares shorted. The rest were purchased by investors who believe BOFI is a good value.I don't claim to be an expert investor -- but this certainly indicates BOFI has a long way to go up!
I also believe the end is here for the shorts.Their whole thesis is based on rumors and stories that have already been discounted multiple times.I have been buying the 22.50 and 25.00 calls as well, which has been ridiculously profitable so far. I bought most of the calls for 30 cents...I already am long the stock from years ago.This should be an exciting week.I would also like to know if more up to date short information is available anywhere.John
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |