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Play money bet
Old 11-29-2005, 10:20 AM   #1
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Play money bet

I just made a short term bet with play money - calls on PPD. This is strictly a short term trading bet and I acknowledge it as such. Anyone else do this sort of thing?
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Re: Play money bet
Old 11-29-2005, 11:01 AM   #2
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Re: Play money bet

Not yet. I am making a change in the portfolio but it is boring compared to your move.
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Re: Play money bet
Old 11-29-2005, 11:02 AM   #3
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Re: Play money bet

Rest assured, if PPD does what I think it will, I will be selling the calls and whittling down my equity position as well.
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Re: Play money bet
Old 11-29-2005, 11:05 AM   #4
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Re: Play money bet

What kind of premium did you pay on the PPD calls?
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Re: Play money bet
Old 11-29-2005, 11:28 AM   #5
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Re: Play money bet

Quote:
Originally Posted by wildcat
What kind of premium did you pay on the PPD calls?
Couple bucks and change. I bought Feb. 45s, 5 contracts. Since I already own a big slug of the stock, I don't particularly want a lot more money tied to it. But I think they are close to getting their bank deal done and will soon announce a large tender offer (could do up to ~25% of the float), a big special dividend (could do ~$8 a share), or some of each. Considering that almost half of the float is short, it could get real ugly real quick for the shorts.
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Re: Play money bet
Old 11-29-2005, 05:53 PM   #6
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Re: Play money bet

Did some crazy things like sold puts on AX for Jan 4 contracts, but split them at 2 at 65 and 2 at 60. So far I'm in the money, but theres a long timeline between here and then.
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