Hello Pezz, Reports from all fronts:
South African Front:
1/3rd of my US-traded Harmony got called away at USD 12.5 (current market price is USD 13.5). These Harmony were purchased at ( Message 18732391
March 21st, 2003) at USD 11.65/shr, and these HMY calls were shorted at USD 1.65/shr. As part of the same trade, HMY puts were shorted at USD 2.25/shr. The put positions were closed at USD 0.85/shr ( Message 18997777
June 3rd, 2003).
I view the above trade as a classically good trade that is simple, elegant, profitable, and fun.
Canadian Front:
1/3rd of my US-traded Agnico Eagle Mines got called away at USD 12.5/shr while the current market price is USD 13.34. The Agnicos were purchased ( Message 18732391 March 21st, 2003) at USD 11.70, the 12.5 calls were shorted at USD 1.2/shr … and, oh, BTW, I had also shorted 12.5 puts at USD 2.25. Since the 12.5 calls were used against me, the 12.5 puts expired worthless :0)
Needless to say, but I will say anyway, I view the above trade as a classically good trade that is simple, elegant, profitable, and fun.
Indonesian Front:
All of my Freeport McMoRan got called away at USD 20/shr while the current market price is USD 28.4. The FCX were purchased at USD 18.94/shr ( Message 18514660
January 30th, 2003) and I had shorted August 20 covered calls at USD 2.00/shr. Luckily, I had also shorted FCX August 17.5 puts at 1.70/shr :0)
Yes, elegant and fun, simple and profitable as well.
Hong Kong/China Front:
In preparation for SARS return, I have sold all of my Hong Kong and China positions except LuJiaZui Real Estate, Hopewell and part of China Mobile.
Beijing Capital Land/2868 at 1.61 (bought at HKD 1.66 Message 19044568 June 19th, 2003)
China Mobile/941 at 19.05 (bought at HKD 21.3/shr Message 19128336 July 20th, 2003)
China Unicom/762 at 5.30 (bought at HKD 5.65/shr Message 19128336 July 20th, 2003)
CNOOC/883 at 13.25 (bought at 13/shr, collected dividend, Message 18141229 October 22nd, 2002)
Hong Kong and Shanghai Bank at HKD 101/shr (bought at HKD 79.75/shr, collected mucho dividends, added at HKD 81.25/shr, Message 16346418 September 13th, 2001, and Message 18060919 October 2nd, 2002)
Hutchison/13 at 53.00 (bought at HKD 43/shr, collected on dividend, Message 18141229 October 22nd, 2002
Message 18113247 October 15th, 2002)
Hutchison/13 at 53.00 (bought at HKD 47/shr, collected on dividend, Message 18141229 October 22nd, 2002
Message 18113247 October 15th, 2002)
Li & Fung/494 at 11.80 (bought at HKD 8/shr, collected dividends, Message 18141229 October 22nd, 2002)
PetroChina/857 at 2.35 (bought at HKD 1.64/shr Message 18882108 April 25th, 2003)
Shanghai Industrial/363 at 12.50 (bought at HKD 12/shr, collected dividends, Message 18060919 October 2nd, 2002)
Shanghai Industrial/363 at 12.50 (bought at 12/shr, collected dividends, Message 18141229 October 22nd, 2002)
Shangri-La Asia/69 at 6.70 (bought at HKD 5/shr and below, collected dividends, Message 19210400 August 14th, 2003
Message 18141229 October 22nd, 2002
Message 18113247 October 15th, 2002
Message 18760455 March 27th, 2003)
Sino Petrochem/386 at 2.30 (bought at HKD 1.49 in 2000, collected mucho dividends for 3 years, Message 18141229 October 22nd, 2002)
Residual position in Phoenix TV left over from the iDotCom days at HKD 0.95/shr, (bought way back at HKD 1.56/shr).
In aggregate, a satisfying experience, and I am now positioned to profit once again in 2004 on the same trades should SARS return.
Should SARS not return … well, we will see when we see.
Chugs, Jay |
