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Strategies & Market Trends : Option Strategies
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To: sm1th who wrote (2500)5/23/2023 11:51:09 AM
From: FIFO_kid2   of 2591
 
Its has been a rinse and repeat for me with regard to the regional banks, even with a conservative strike price 75% below of price was yielding over 5% in 2 weeks holding time a few weeks ago for WAL PACW and MCB. I also started buying HBNC on the open market when it hit a 8% yield as well as sold some of the 7 1/2 puts.

With regard to the Russell reconstitution which normally gives some great opportunities really yielded little this year. The only surprise there was PARR was taken off the Russell 3000 and it is in light it will acquire another refinery June 1 so I may pick up some shares from the forced selling which culminates June 23.

I am keeping more cash this month especially for some quite a few other special situations like Gulf Keystone Petroleum on the London exchange whose production is currently shut in due to the standoff regarding the Ceyhan pipeline in Turkey. This company is a big money machine when the political situation is docile. It paid about a $1 US in dividends last year and has no long term debt with the stock trading around $1.65. This stock always had political risk but with half of the issues resolved between the KRG and Iraqi government. I think the eventual stability will rerate the stock to a fairer value.
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