1 option contract = 100 shares
9400 contracts x 100 shares = 940,000 shares.
That is if I am reading your question correctly.
If you are interested in KEEPING the shares until you can come up with the cash to eliminate the margin loan, I think (I THINK) margin interest offsets capital gains- from a tax perspective. I only mention this as it makes "paying" the margin interest more palatable. Check with Steiny or your tax professional before acting. I am NOT a tax professional (nor did I sleep at a Holiday Inn last night) so my advice is not to be relied on as pure fact.
everything turned out fine. Shares sold at 56 cents rather than Friday's close of 55 cents. Made hundreds and learned a valuable lesson.
If someone were to offer me a bet whether or not SIRI would break up tomorrow I would wager yes.
Because : yes.
Done staring at the charts.
Golden cross on LMCA today
Golden cross about 4 trading days away for SIRI if we can hold in the 3.50s
volume sux today
SF i hope no one made you that offer.
I dunno man it's up $0.005 ! Forgot about the stupid Fed minutes today. Locking everything.
I will say the longer it drags on low volume sideways at highs like this the more I like it. Just pulls all those averages up.
20 day breaches 200 tomorrow. 50 shortly after.
The whole thing is setting up for a 1, 2, 3, 4... and on and on punch.
Still feel like we need to see a debt issuance announcement to indicate the third $2 bil is locked in and ready to go.