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Strategies & Market Trends : Arbitrage Plays -- Ignore unavailable to you. Want to Upgrade?

To: Keith J who wrote (342)11/16/2001 2:24:46 PM
From: Allen Furlan  Respond to of 376
 
Keith, this seems more like a play on survivability of ENE. I prefer to speculate in a more straight forward way. Sold 10 ofema, 2003/5 puts at 1.4. Margin of 900 plus 1400 proceeds for the position. If takeover works the stock will be above 5 by Jan 2003. Risk is owning ene at 3.6.



To: Keith J who wrote (342)11/19/2001 5:17:43 PM
From: Allen Furlan  Respond to of 376
 
Keith, the more I review ene the less I like the management and outlook for merger. Did not like my put sell so went long on 8 2004/5 puts at 1.7 to partially cover the 10 2003/5 sold short and still end up with net cash.


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