Bill,
I'm a little confused by your percentages. Here are your trades so far for GUMM.
July 10: Initiate coverage, close 12 11/16
July 13: "Shorted at an average price of 12 13/16."
Sat, Sep 4: +20%, open on Mon, Sep 7 was 13 3/4
Wed, Sep 15: +25%, close 13 1/8
Thu, Sep 16: +50%, close 13
Let's assume that you started out with 1000 shares short at 12 13/16 on July 10. Total short value = $12,812.50
Sep 7 added 20% of 1000, or added 200 shares at 13 3/4. Total short position = 1200 shares with value of $15,562.50 (avg price 12.97)
Sep 15, added 25% of 1200, or added 300 shares at 13 1/8. Total short position = 1500 shares with value of $19,500 (avg price 13)
Sep 16, added 50% of 1500, or added 750 shares at 13. Total short position = 2250 shares with value of $29,250 (avg price 13).
In other words, your short position would have increased from the initial 1000 shares at 12.8125 to 2250 shares at 13. Did I calculate this correctly?
Thanks,
Dan |
