SPAC & IPO Ideas

Blazin

Blazin

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Does this count as living the SPAC life?

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Sanrith Descartes

Sanrith Descartes

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Wrote my covered calls on KO for next week. Pushed them up to $52 strike. Drips and drabs.
 
Blazin

Blazin

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Sanrith Descartes said:
lol, $30 strike is ballsy. but $27.80 basis is like buying a normal SPAC at $13.90 which is a little higher than I prefer but not crazy. I am riding the $22.50 March expiry I got for $1.20.

You Betcha Anna Kendrick GIF
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It is but if I get the shares I'll immediately sell a call against them and will have a cost basis around ~$25. Things work in my favor through expiration I can have cost basis down to around $20 in March. Such I high IV leaves a good bit of flexibility.
 
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Sanrith Descartes

Sanrith Descartes

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Blazin said:
It is but if I get the shares I'll immediately sell a call against them and will have a cost basis around ~$25. Thinks work in my favor through expiration I can have cost basis down to around $20 in March. Such I high IV leaves a good bit of flexibility.
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Thats why you da man.
 
Araysar

Loser Araysar

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is Sam Zell's EQD planning on making money any time soon?
 
Jysin

Jysin

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PSTH has held relatively flat at $30, even despite the market weakness. Feel I am never going to get my $25 entry opportunity to add again.
 
Sanrith Descartes

Sanrith Descartes

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Jysin said:
PSTH has held relatively flat at $30, even despite the market weakness. Feel I am never going to get my $25 entry opportunity to add again.
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Write the puts on it at 25 or 22 each dip. Its either free money or you get the stock near the Nav of $20. Go higher if you really want the stock. You could sell the $30 strike expiry in March for $4.15 premium. If it assigns it is basically buying the stock at $25.85.
 
Sanrith Descartes

Sanrith Descartes

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Sanrith Descartes said:
Write the puts on it at 25 or 22 each dip. Its either free money or you get the stock near the Nav of $20. Go higher if you really want the stock. You could sell the $30 strike expiry in March for $4.15 premium. If it assigns it is basically buying the stock at $25.85.
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Fogel Fogel So after I wrote this reply I started thinking about it. That March expiry $30 strike for $4.15 is amazing. If it gets assigned its effectively PSTH at $25.85 which is a normal SPAC at $12.92 a share. If they put out an announcement next week with the shareholder meeting this thing moons. If no announcement then take the shares and the premium. This looks like the play to make.
 
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Fogel

Fogel

Mr. Poopybutthole
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Sanrith Descartes said:
Fogel Fogel So after I wrote this reply I started thinking about it. That March expiry $30 strike for $4.15 is amazing. If it gets assigned its effectively PSTH at $25.85 which is a normal SPAC at $12.92 a share. If they put out an announcement next week with the shareholder meeting this thing moons. If no announcement then take the shares and the premium. This looks like the play to make.
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I'm in, I better get my tendies!
 
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