Stock Market Talk

240m shares already traded in the first 1.5 hrs! It will be the heaviest trading day for S ever!

That's how you stage a breakout... let's hope it closes above 5.75 today.

Edited: Sprint confirmed the report. $6.4, anyone?

Originally Posted by Griffoun

240m shares already traded in the first 1.5 hrs! It will be the heaviest trading day for S ever!

That's how you stage a breakout... let's hope it closes above 5.75 today.

Edited: Sprint confirmed the report. $6.4, anyone?

Finally popped . BAC has a lot of activity on the $10 & $11 calls. I'm bullish on that one. Earnings next week.

Originally Posted by Griffoun

240m shares already traded in the first 1.5 hrs! It will be the heaviest trading day for S ever!

That's how you stage a breakout... let's hope it closes above 5.75 today.

Edited: Sprint confirmed the report. $6.4, anyone?

Originally Posted by stylinexpat

Finally popped . BAC has a lot of activity on the $10 & $11 calls. I'm bullish on that one. Earnings next week.

514m shares changed hands, closed at 5.76. Market's still not totally buying the deal, or else it would be closed above $6 already.

CLWR is a different story, up 77%, must have something to do with short covering too.

Originally Posted by Griffoun

514m shares changed hands, closed at 5.76. Market's still not totally buying the deal, or else it would be closed above $6 already.

CLWR is a different story, up 77%, must have something to do with short covering too.

Per CNBC, Softbank's buying 70% of Sprint at $7.3 a share. Once announced and if the open looks good, I'm going to ring the register tomorrow... cha-ching!

Over 100% return in half year, not bad, eh?

Originally Posted by Griffoun

Per CNBC, Softbank's buying 70% of Sprint at $7.3 a share. Once announced and if the open looks good, I'm going to ring the register tomorrow... cha-ching!

Over 100% return in half year, not bad, eh?

16 months @ 200%+ is BETTER!!

Sell order at $8.00 for short squeeze at open ... cheers!!

Originally Posted by Griffoun

514m shares changed hands, closed at 5.76. Market's still not totally buying the deal, or else it would be closed above $6 already.

CLWR is a different story, up 77%, must have something to do with short covering too.

Very nice run for Sprint. I should have bought more calls. Them calls should be bank on Monday. Let's see what happens to them October 20 $5 and $6 calls today. The $7 calls should be in the money as well.

Originally Posted by stylinexpat

Something for Sprint is cooking. The other day this week someone loaded up big on the November calls and today right before the market closed someone bought a shi$ load of the August 18 Sprint $5.5 calls. I tried to get my order through just before closing bell as well but it did not go through. Will try and get in early on Monday if stock is not already up again before market opens.

http://www.bimmerfest.com/forums/sho...&postcount=950

The dude who loaded up on them November calls just made bank.

Some huge gains this morning in pre-market for Sprint

OK Bimmerfest stock experts...why isn't sprint trading as high as I thought it would today? Isn't Softbank essentially saying they would offer 7.20 a share for S?

Anyone buying jan 6 dollar calls?

how are you playing this?

Is the market not buying this offer? Regulators in the way?

I'd like to hear some thoughts.

Read the fine print dude..

$7.20 a share for 70% interest.

say the 70% interest translate to ===> 70% shares outstandinng (if that much)

$7.20 X 0.70 = $5.40

If you still don't understand this then you need to listen to me and stay AWAY from Risk Arb.

Cheers!!

beewang

Originally Posted by beewang

Read the fine print dude..

$7.20 a share for 70% interest.

say the 70% interest translate to ===> 70% shares outstandinng (if that much)

$7.20 X 0.70 = $5.40

If you still don't understand this then you need to listen to me and stay AWAY from Risk Arb.

Cheers!!

beewang

Ahh, makes perfect sense, that's the piece I overlooked. Thanks!

Originally Posted by former230

OK Bimmerfest stock experts...why isn't sprint trading as high as I thought it would today? Isn't Softbank essentially saying they would offer 7.20 a share for S?

Anyone buying jan 6 dollar calls?

how are you playing this?

Is the market not buying this offer? Regulators in the way?

I'd like to hear some thoughts.

That stock sure did turn around during futures trading in pre-market. BAC still good to trade option calls with when buying in low 9's or high 8's and then selling mid 9's until it breaks out of this trading range.

Something is cooking... Check out the massive volume right now on the $6 February calls for Sprint.

Originally Posted by former230

Ahh, makes perfect sense, that's the piece I overlooked. Thanks!

Softbank values Sprint at $6.3 per David Faber, here's the explanation

Now as to why it's not trading at 6.5 or 7.3, there're many explanation, but the bear analyst interviewed by CNBC, who still has a $3 target price on Sprint, says the market values the shares outstanding after the deal at much less, hence the current stock price. To me, that's BS.

Here's a better explanation, just like beewang and me wanted to cash out.

So at the end of the day, there's still a sizable factor of how much the market values the rest of the Sprint, and the uncertainty of whether the investment can get US' approval, and how Softbank and Sprint are going to deal with Clearwire (if they'll overpay in order to gain full control)

? Google shares halted. One bloody ass day for Google today.

SPY puts are bank today? Black Monday to follow or will Bernanke save the day....???

The invisible hand needed to step in today, we could not afford another 10 point drop.

Originally Posted by Chris90

The invisible hand needed to step in today, we could not afford another 10 point drop.

It must have done all the Apple share buying.

I'm long Sprint, short FB.
Watch FB drop the next 4 weeks.
Like a brick....

Originally Posted by 400HPBMW

I'm long Sprint, short FB.
Watch FB drop the next 4 weeks.
Like a brick....

You can buy some Facebook November Puts then which will pay well if Facebook drops

Added YHOO to my watchlist... the near term target is about 18.5, but it should go higher if Marissa Mayer can prove her talent and result in a couple quarters. She's been making small moves here and there and so far I'm liking them.

Edited: Also added AAPL back to my list... this could be their last merry x'mas for AAPL... it's time to get out after that. Heck, the market has already started cashing out after topping out at 700.

Bad news comes out after elections I suppose.

Originally Posted by stylinexpat

Bad news comes out after elections I suppose.

The Republicans: I told you so! Ben's started selling now that Obama's been re-elected!

Then the Dems would say: If Mitt had won, the market would have lost a thousand points!!

The invisible hand has a lot of work to do today. Good start though, brought the S&P up 10 points already.

Originally Posted by Griffoun

Also added AAPL back to my list... this could be their last merry x'mas for AAPL... it's time to get out after that. Heck, the market has already started cashing out after topping out at 700.

AAPL's been getting hammered, dropped 50 points since being added to my bearish list, and that's just in 2 trading days!