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re: Official Erin Energy (ERN) thread

Posted on 11/18/15 at 9:20 am to
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10241 posts
Posted on 11/18/15 at 9:20 am to
There has been no volume recently. None. The last trades were likely mine. I'd guess a majority of trades on expiration will be mine as well. But someone bought what I sold, and someone sold what I bought, so a good chance people are unwilling to exercise, and will either buy/sell to close before they have shares called, shares put, or have to buy shares to either have called away, or put to someone.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10241 posts
Posted on 11/21/15 at 9:11 am to
Someone exercised and put shares to me for $5. My net cost basis after deducting premium I was paid is $4.09, so I got out of this naked short o.k.

I had also sold $7.50 puts for over $3.50, and these shares weren't put to me, so I kept someone's premium. Someone didn't have money to buy the shares to put to me, or it made no sense after they factored in their commission.

Either way, I got extremely lucky.



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