Da,upravo to "čekanje u zasjedi" je najzanimljiviji,najzahtjevniji i najvažniji dio posla.Kasnije više nema puno manevarskog prostora. Constanza i Cramer RULE!!!:)
11.03.2007. (23:23)
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Samo bi dodao nešto što sam zapamtio od Krejmera. Naime, rekao je jednom prilikom da se u zadnje vreme često dešava da ako je trend bullish ekspiracijska nedelja će biti još naglašenije bullish, a ako je bearish da će ta nedelja biti još više bearish. Inače sam bio na nekom predavanju Tom Sosnofa, vlasnika Thinkorswima, koji je tom prilikom isto rekao da od sada pa sve do predsedničkih izbora očekuje period povećane volatilnosti. Živi bili pa videli :-) Pozdrav
12.03.2007. (11:48)
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NYSE says New Century to remain halted for now 12:23p ET March 12, 2007 (Marketwatch)
NEW YORK (MarketWatch) -- The New York Stock Exchange said Monday it has halted trading of New Century Financial Corp. "due to the review of recent disclosures involving the company's ongoing liquidity and financing efforts." The freeze covers New Century Financial Corp. shares, as well as its 9.125% Series A Cumulative Redeemable Preferred Stock and its 9.75% Series B Cumulative Redeemable Preferred Stock. "Although the company is currently in compliance...the NYSE is not limited to these quantitative standards," the exchange said. "Rather, it may make an appraisal of, and determine on an individual basis, the suitability for continued listing of an issue in light of all pertinent facts whenever it deems such action appropriate, even though a security meets or fails to meet any enumerated criteria." The NYSE said it will continue the halt, "until such time as material information regarding its liquidity and financing efforts has been disseminated and the NYSE has been able to complete its related evaluation." Upon completion of its evaluation, the NYSE will either suspend the security from trading or resume trading. If the NYSE decides to suspend the security, it would then apply to the SEC to delist the issue.
Ček, ček, oni to govore o delist-iranju dionice! Šta onda biva sa putevima i shortovima??
12.03.2007. (17:44)
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Kad se radi o bancrupcy procedurama u USA razlikuju se CHAPTER 7 (totalni bancrupcy) i chapteri 11 i 13 gdje dolazi do re-strukture duga. Ne poznajem dovoljno zakon glede toga osim sto ti mogu reci da se i nakon bancrupcya neke FIRME vracaju nazad ali cesto puta im dionice ne vrijede puno jer su kroz bancrupcy PRVO MORALE PODMIRITI svoje kreditore (koji su im dali kredite sa kolateralom) pa iza toga BOND holdere a tek na kraju (ako ista ostane - a najcesce nista) bivaju podmireni share holderi. Firma medjutim IMA PRAVO nastaviti listanje dionica kroz TZV PINK SHEETS ali na zalost opcije nemaju puno sanse! One najcesce isteknu bezvrijedne! Evo jednog pitanja i opdgovora sa interneta koji bi mogao baciti malo vise svjetla na tu stvar: "I own January 2009 puts in a company I feel will be bankrupt in the near future. I have received conflicting responses from traders to this question: What happens to the puts of an underlying company that announces bankruptcy? Is the put writer still obligated to buy shares of the worthless stock at the strike price? Some have said trading in the underlying halts and all the options become worthless. Is that true?
There are no set rules about options and bankruptcy, but often, the puts will still have value and the out-of-the-money calls will expire worthless. To understand why, lets consider what happens in a bankruptcy. If the options are trading, then shares are probably still listed on one of the stock exchanges. However, when a company files for bankruptcy, the exchange might suspend trading and maybe de-list the stock. When US Airways filed for bankruptcy several years ago, the New York Stock Exchange (NYSE) released a memo stating that the NYSE would suspend trading in the stock because the company said it had filed to reorganize.
A de-listed stock can continue trading on the OTC Bulletin Board (the "Pink Sheets") under a new stock symbol. Shares can be bought or sold through a broker as if it traded on one of the major exchanges.
What about the options? As a rule, the options will trade, but with restrictions. It is not uncommon to see trading limited to closing transactions. If a put owner wants to close out those puts, they can, but no new or "opening" transactions will be allowed. Once de-listed, options on a bankrupt company are limited to closing transactions. Exercise and assignment will involve shares of the bankrupt company, but it might not make sense for a call holder to exercise those calls if the stock has already taken a beating. If shares are trading on the Otc, the put owner has the right to exercise that option contract. The put writer must honor it.
Eventually, the stock certificates might be declared null and void and the stock price drop toward zero. If so, the call options expire worthless and the put options settle for cash. The put owner can exercise the options and receive cash equal to the difference between the option's strike price and the stock price.
Of course, situations can vary. The best source of information regarding a specific holding is your broker. The next reliable source is the Options Clearing Corp. (OCC). Its website will contain information regarding contract adjustments from bankruptcies and other unusual situations. The web address is www.optionsclearing.com. "
12.03.2007. (21:37)
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A tako... hvala ti! Poziciju sam bio zatvorio jer sam se bojao naglog porasta uz neku dobru vijest, a i nije mi se svidjelo držati opcije, nekako da sam bio u shortu mislim da bi držao i dalje. Nisam očekivao da će ih stopirati tako brzo. Znači, opcije koje su putevi itm ($5 je stike) bi izgubili time value, a buduci da je dionica pala, a vjerojatno će još, velika je vjerojatnost da bi ipak dobio svoje novce i dobro zaradio da sam držao u petak.
12.03.2007. (23:43)
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felix...
Da,upravo to "čekanje u zasjedi" je najzanimljiviji,najzahtjevniji i najvažniji dio posla.Kasnije više nema puno manevarskog prostora.
Constanza i Cramer RULE!!!:)
11.03.2007. (23:23) - - - - - promjene spremljene- uredi komentar - obriši komentar - prijavi ovaj komentar kao spam - zabrani komentiranje autoru ovog komentara- učitavam...
bagzi
Samo bi dodao nešto što sam zapamtio od Krejmera. Naime, rekao je jednom prilikom da se u zadnje vreme često dešava da ako je trend bullish ekspiracijska nedelja će biti još naglašenije bullish, a ako je bearish da će ta nedelja biti još više bearish.
Inače sam bio na nekom predavanju Tom Sosnofa, vlasnika Thinkorswima, koji je tom prilikom isto rekao da od sada pa sve do predsedničkih izbora očekuje period povećane volatilnosti. Živi bili pa videli :-)
Pozdrav
12.03.2007. (11:48) - - - - - promjene spremljene- uredi komentar - obriši komentar - prijavi ovaj komentar kao spam - zabrani komentiranje autoru ovog komentara- učitavam...
Bundy
Ode NEW... blokirali ga, spread je 1.65 - 1.68.
Nisam mislio da će tako brzo pasti. Prodao puteve, šmrk! :)
12.03.2007. (17:39) - - - - - promjene spremljene- uredi komentar - obriši komentar - prijavi ovaj komentar kao spam - zabrani komentiranje autoru ovog komentara- učitavam...
Bundy
NYSE says New Century to remain halted for now
12:23p ET March 12, 2007 (Marketwatch)
NEW YORK (MarketWatch) -- The New York Stock Exchange said Monday it has halted trading of New Century Financial Corp. "due to the review of recent disclosures involving the company's ongoing liquidity and financing efforts." The freeze covers New Century Financial Corp. shares, as well as its 9.125% Series A Cumulative Redeemable Preferred Stock and its 9.75% Series B Cumulative Redeemable Preferred Stock. "Although the company is currently in compliance...the NYSE is not limited to these quantitative standards," the exchange said. "Rather, it may make an appraisal of, and determine on an individual basis, the suitability for continued listing of an issue in light of all pertinent facts whenever it deems such action appropriate, even though a security meets or fails to meet any enumerated criteria." The NYSE said it will continue the halt, "until such time as material information regarding its liquidity and financing efforts has been disseminated and the NYSE has been able to complete its related evaluation." Upon completion of its evaluation, the NYSE will either suspend the security from trading or resume trading. If the NYSE decides to suspend the security, it would then apply to the SEC to delist the issue.
Ček, ček, oni to govore o delist-iranju dionice! Šta onda biva sa putevima i shortovima??
12.03.2007. (17:44) - - - - - promjene spremljene- uredi komentar - obriši komentar - prijavi ovaj komentar kao spam - zabrani komentiranje autoru ovog komentara- učitavam...
Optionmaster
Kad se radi o bancrupcy procedurama u USA razlikuju se CHAPTER 7 (totalni bancrupcy) i chapteri 11 i 13 gdje dolazi do re-strukture duga. Ne poznajem dovoljno zakon glede toga osim sto ti mogu reci da se i nakon bancrupcya neke FIRME vracaju nazad ali cesto puta im dionice ne vrijede puno jer su kroz bancrupcy PRVO MORALE PODMIRITI svoje kreditore (koji su im dali kredite sa kolateralom) pa iza toga BOND holdere a tek na kraju (ako ista ostane - a najcesce nista) bivaju podmireni share holderi. Firma medjutim IMA PRAVO nastaviti listanje dionica kroz TZV PINK SHEETS ali na zalost opcije nemaju puno sanse! One najcesce isteknu bezvrijedne! Evo jednog pitanja i opdgovora sa interneta koji bi mogao baciti malo vise svjetla na tu stvar:
"I own January 2009 puts in a company I feel will be bankrupt in the near future. I have received conflicting responses from traders to this question: What happens to the puts of an underlying company that announces bankruptcy? Is the put writer still obligated to buy shares of the worthless stock at the strike price? Some have said trading in the underlying halts and all the options become worthless. Is that true?
There are no set rules about options and bankruptcy, but often, the puts will still have value and the out-of-the-money calls will expire worthless. To understand why, lets consider what happens in a bankruptcy. If the options are trading, then shares are probably still listed on one of the stock exchanges. However, when a company files for bankruptcy, the exchange might suspend trading and maybe de-list the stock. When US Airways filed for bankruptcy several years ago, the New York Stock Exchange (NYSE) released a memo stating that the NYSE would suspend trading in the stock because the company said it had filed to reorganize.
A de-listed stock can continue trading on the OTC Bulletin Board (the "Pink Sheets") under a new stock symbol. Shares can be bought or sold through a broker as if it traded on one of the major exchanges.
What about the options? As a rule, the options will trade, but with restrictions. It is not uncommon to see trading limited to closing transactions. If a put owner wants to close out those puts, they can, but no new or "opening" transactions will be allowed. Once de-listed, options on a bankrupt company are limited to closing transactions. Exercise and assignment will involve shares of the bankrupt company, but it might not make sense for a call holder to exercise those calls if the stock has already taken a beating. If shares are trading on the Otc, the put owner has the right to exercise that option contract. The put writer must honor it.
Eventually, the stock certificates might be declared null and void and the stock price drop toward zero. If so, the call options expire worthless and the put options settle for cash. The put owner can exercise the options and receive cash equal to the difference between the option's strike price and the stock price.
Of course, situations can vary. The best source of information regarding a specific holding is your broker. The next reliable source is the Options Clearing Corp. (OCC). Its website will contain information regarding contract adjustments from bankruptcies and other unusual situations. The web address is www.optionsclearing.com. "
12.03.2007. (21:37) - - - - - promjene spremljene- uredi komentar - obriši komentar - prijavi ovaj komentar kao spam - zabrani komentiranje autoru ovog komentara- učitavam...
Bundy
A tako... hvala ti!
Poziciju sam bio zatvorio jer sam se bojao naglog porasta uz neku dobru vijest, a i nije mi se svidjelo držati opcije, nekako da sam bio u shortu mislim da bi držao i dalje.
Nisam očekivao da će ih stopirati tako brzo.
Znači, opcije koje su putevi itm ($5 je stike) bi izgubili time value, a buduci da je dionica pala, a vjerojatno će još, velika je vjerojatnost da bi ipak dobio svoje novce i dobro zaradio da sam držao u petak.
12.03.2007. (23:43) - - - - - promjene spremljene- uredi komentar - obriši komentar - prijavi ovaj komentar kao spam - zabrani komentiranje autoru ovog komentara- učitavam...