Hello Pezz, Late Evening Report:
I am not a greedy man, and so have:
(a) Closed out this trade (see reference below) for IPG options at 0.25 for the Call and 0.75 for the Put, generating a profit of USD 3.25/shr, and
(b) Shorted another tranche of October covered Calls strike 10 @ 1.35/shr, consolidating positions already captured
Reference:
http://www.siliconinvestor.com/readmsg.aspx?msgid=18124860
October 17th, 2002
Hello Pezz, Tonight's Report:
(a) purchased IPG quote.bloomberg.com. at US$ 10/shr,
(b) short sale IPG April Put strike price 10 (.ipgpb) at US$ 2.2, and
(c) short sale IPG April Call strike price 10 (.ipgdb) at US$ 2.05/shr.
I know nothing about IPG, other than fact that they are in advertising, down a lot today upon disappointing a lot of shareholders, is tied to consumer fortune, and may do as many did go belly-up in early 1980s.
But, hey, so is the Yen I borrowed to buy IPG with:0)
The simple and elegant trade may generate one month's worth of living expenses (if I cut back), pay for a nice holiday (if I dare to go anywhere) or one year's worth of interest on the total JYen loan (no need for further qualifications). It doesn't get better than this, does it:0?
Chugs, Jay |
