re: Official Erin Energy (ERN) thread

OK, more accurate key points of today.

Volume 488,245/2,929,470 presplit @ today's high $3.369MM, and today's open $3.26MM market cap exchanged.

32 new OI 6/19 expiry $7.50 strike @ .42. Well over $8 break even if executed. Well under 30 days. Total OI near month $7.50 strike is well over 200.

17 new OI 8/21 expiry $7.50 strike @ .90.

400 new OI 11/20 expiry $7.50 strike @ $1.00 & 88 $10 strikes went for .45

The trade of 400 was hidden. Routed to BOSX, then CBOE. It looked like, and it's hard to tell as I wasn't looking all day, it was one trade by a specialist. But a buck seems a lot to me based on gut feeling. B/S valuation would put the contract at $6.81 or so. But B/S is meaningless really. What matters is that the buyer, presuming a specialist with no costs except mandatory CBOE fees per contract, would need $8.50 to exercise. I don't see any intention to exercise, I see some bet on volatility and selling the contracts off at over $1.00 with any increase in underlying that could make that possible. You'd have to guess anything over $7 ish make the sell to close profitable here. Maybe.

Could be covered call also. But why covered calls form a specialist if that is what this was?

Still hard to borrow on etrade, IB has shares to borrow. Short interest in release I think this Friday after hours IIRC.

You look at the technical frequency chart almost every day lately, you can clearly see amateur hour -v- power hour. It is quite pronounced. The trend is less profit taking every morning, and apparently no profit taking during power hour.

I still think specialists, and not so much institutional, excepting the dark pool probes I mentioned earlier, because most of the buying is done late in the day, and higher prices.

A bit of an oversimplification, and not very detailed, but that's my analysis.

Turnip

Sometimes I just smoke the 420, and watch all the lights and stuff on my trading screen. I connect the most pretty lights, and next thing you know, I'm either hungry for Nate's pancakes, or lost a bunch of money, or made a bunch.

LINK

For you IG: LINK

Currently at 1800 shares, $6K in unrealized gains.

Hard to know true percentage up, as I've bought a lot on dips and taken profits here and there.

I think a synthetic long. Sell the puts, and buy calls same expiry, higher strike. Even a calendar synthetic long.

What I've been trying to do is sell puts. Designed to create income, and also if the shares are put to me, which I have no issue with, create a decent buy in price. Strike price less premium collected for writing the put.

The problem is I'm really the only put seller. If you look at the ask for puts, it is all b/s pricing method, so almost exclusively market makers. No buyers.

Which is really, really odd. No put buyers. There has to be a technical guy somewhere looking at charts, waiting for the bear trap short squeeze to get over with, and wanting to short this limiting his maximum loss. But none. Not a one.

And it has to go down. It has to. A matter of time before there is an issue with the undersea tree, or Oyo 7 gets delayed. Or a Republican Attorney General indicts both Kase and Hazel O Leary for foreign corrupt practices. Or whatever, but it's going to go down again. How much and for how long? I wish I knew.

If you read EVERY page of the penny stock thread you will get an IDEA of how much CAK IG owned as of last summer. It was a hell of a lot then, and that's before it plummeted below .50, and .40, and .30.....
So, hope you don't mind IG. I've got a nice buzz for a Tuesday night

Exactly, no one is near IG, myself included. I've more than 3k shares, but I'm long.

Still angry at myself for not loading up again at $4.70 last week.

You're up about $20K Gene Gene the Dancing Machine?

cigar.com has a nice Don Pepin sampler for about $60.00.

I like me some Don Pepin, and I'm running low.

I opened a Robinhood account for my 13 year old son to do a little investing. He opened it with $100 and doubled it quickly so I talked him into putting in another $900 from his savings. His $1,100 investment is currently worth about $1900 in a very short time.

BTW, his sister didn't want to invest and is now jealous.