SPAC & IPO Ideas

Sanrith Descartes

Sanrith Descartes

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Fogel said:
25$
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The high IV is going to help you out a lot making the money back. I still have over 3 weeks with my $17.5 so we shall see.

I also feel the need to do a public service announcement and point out that the high on CCIV today was $63.20. People were buying at $63 a share. That has got to be ass-ravaging. I have taken a few wallops (BIIB comes to mind) but I dont think have ever taken a $23 a share wallop.
 
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Fogel

Fogel

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Sanrith Descartes said:
The high IV is going to help you out a lot making the money back. I still have over 3 weeks with my $17.5 so we shall see.

I also feel the need to do a public service announcement and point out that the high on CCIV today was $63.20. People were buying at $63 a share. That has got to be ass-ravaging. I have taken a few wallops (BIIB comes to mind) but I dont think have ever taken a $23 a share wallop.
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Yeah that's why I'm not too worried about it.
 
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Sanrith Descartes

Sanrith Descartes

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CCIV ended at $40 down 30% from the close.

1614042453918.png
 
Sanrith Descartes

Sanrith Descartes

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This is sounding more like NKLA every hour. Now they announced they are "building a plant in China". So CCIV investors just bought into a company who delays the start of production and announces the start of a new factory in China.

 
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Araysar

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Sanrith Descartes said:
This is sounding more like NKLA every hour. Now they announced they are "building a plant in China". So CCIV investors just bought into a company who delays the start of production and announces the start of a new factory in China.

Click to expand...

lol
 
Sanrith Descartes

Sanrith Descartes

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Jysin said:
Not sure if you had an open order out there. Lowest premarket price hit $33.53.

Seems like it has bottomed for now and trading at $38 currently.
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It closed unfilled. For those that can remember we went through this same "risk-off" event with SPACs after the NKLA fiasco. I expect SPAs to bleed red for a few weeks. This of course goes back to my philosophy of only investing in SPACs with solid Founders. This should present a good opportunity to get into a few quality SPACs down near the NAV. And we will probably see SPACs topping out near 20 again for the time being.
 
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Jysin

Jysin

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Sanrith Descartes said:
It closed unfilled. For those that can remember we went through this same "risk-off" event with SPACs after the NKLA fiasco. I expect SPAs to bleed red for a few weeks. This of course goes back to my philosophy of only investing in SPACs with solid Founders. This should present a good opportunity to get into a few quality SPACs down near the NAV. And we will probably see SPACs topping out near 20 again for the time being.
Click to expand...
My body is ready.
 
Sanrith Descartes

Sanrith Descartes

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Sometimes it pays to follow your gut...
Sanrith Descartes said:
Took profits off the board an a good number of my riskier put positions. What felt safe a week ago doesnt feel so safe today.
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I see two ways to play the SPAC bloodbath. Look for quality SPACS near the NAV (or at least under $11) or use puts at the $10 strike on them.
My version of quality is SPACs like PSTH, BTWN, BTNB and the like. Ackman, Thiel etc. Dont invest in the SPAC, invest in the founders.

I want to add this is why I am so anal about investing near the NAV. When shit like this happens and your cost basis is $10.25 or $10.50, your downside risk is limited. All the SPACs I bought recently are down, but down 2% is down 20 or 25 cents.
 
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swayze22

swayze22

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There are so many SPACs now its tough to comb through them all close to NAV. (atleast for me since this is just a little hobby)

Seems like a lot of the "biggest" names are closing deals right now or the prices are already up $20+. Or alternatively they have filed for 30 SPACs and kind of waiting right now.
 
Sanrith Descartes

Sanrith Descartes

Veteran of a thousand threadban wars
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swayze22 said:
There are so many SPACs now its tough to comb through them all close to NAV. (atleast for me since this is just a little hobby)

Seems like a lot of the "biggest" names are closing deals right now or the prices are already up $20+. Or alternatively they have filed for 30 SPACs and kind of waiting right now.
Click to expand...
Use Spac Trak
 
Sanrith Descartes

Sanrith Descartes

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Wrote some puts on CCIV and BTWN at the $12.50 strike. Got 40 cents premium.

And closed out the CCIV for a nickle.
 
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