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re: Official Erin Energy (ERN) thread

Posted on 7/26/15 at 10:01 pm to
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10234 posts
Posted on 7/26/15 at 10:01 pm to
Because they could have made more exercising and they didn't. Don't know for sure, but that's pretty conclusive. They don't have to exercise, they can wait for someone, in this case me, to buy to close. They didn't exercise, and anything in the money is exercised automatically on expiration unless the buyer calls their broker and tells them not to.

I called their bluff. They didn't have the cash or margin to exercise. I kept their premium on deep in the money puts twice now.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10234 posts
Posted on 7/30/15 at 7:39 am to
LINK

LINK

I think we get hit 8/11. I also think after 8/11 is a good time for those with a long time frame. The possibility exists that they have no lifts Q2. The announcements, and timing for the factoring lead me to believe this. Also, it looks like they are somewhat actively seeking additional financing (preferred shares and debt offering) to go at Micoene in a huge hurry.

I'd like to post Cramer's "House of Pain''< but cannot find a decent link.

Laffy. Due diligence and all of that "sexy" stuff.


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