SIRI Intraday Thread: Tuesday March 31st

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03-31-2009, 02:46 PM
relmor2003

Quote:

Originally Posted by lloyd Handwerker

Well all i know is that Rick Wagoner kept saying they didn't want to take the
bankruptcy route because even if they came out of it quickly he thought GM would be percieved as damaged goods and less people would be inclined to buy their product.

GOOD. I would love if their sales plummetted, and Ford and Toyotas skyrocketed. Great!!!!
03-31-2009, 02:47 PM
choirgirl

bananaz, yes I was talking about his GM shares. As for Sirius, there is no offer at this moment, but there is a 2010 call with an asking price ot 5 cents.

Quote:

Originally Posted by bananaz

Oops! :o
03-31-2009, 02:47 PM
lloyd Handwerker

Quote:

Originally Posted by relmor2003

GOOD. I would love if their sales plummetted, and Ford and Toyotas skyrocketed. Great!!!!

We are in total agreement on that!
03-31-2009, 02:48 PM
Demian

Quote:

Originally Posted by bananaz

OK Choirgirl, I've never dabbled in options before so let me see if I understand this.

If I own 1,000 shares of SIRI, I can sell Jan 2011 $2.50/share covered calls @ .80/share (?) and pick up $2,800.00 but risk the shares being called if the share price goes over $2.50? Am I missing something because this sounds like a no-brainer? Even if share price tanks again I have an .80/share cushion.

1,000 shares of SIRI cost $330......where can I sell covered calls on them and get $2,800? I'm all over that deal.......:)

It's not per share, it's per contract........
03-31-2009, 02:49 PM
exilejeff

Quote:

Originally Posted by relmor2003

GOOD. I would love if their sales plummetted, and Ford and Toyotas skyrocketed. Great!!!!

however, i am not so fond of that idea with my 3500 shares on the line haha..... >.<
03-31-2009, 02:52 PM
choirgirl

exilejeff, deadline is april 17.
If the stock goes to 50 I am going to keep the shares as well as the 600 $. Then I will do it again. If it goes above 60 $, doesn't matter 61,62 or 70 , I have to sell at 60.

Quote:

Originally Posted by exilejeff

looks like i need to do more reading on options lol

but in layman's terms:
u bought 200 shares at $59 and sold them at $60 for april at $3 a piece.....so u bank money today.....but have to sell at $60 at a certain date regardless of the stock price?
what are the implications if.....
1. stock goes to say $50 by april
2. $70 by april

wait isn't april tomorrow? or is it a specific date? this may not make sense at all, and if it doesn't then i am just confused lol
03-31-2009, 02:54 PM
relmor2003

Quote:

Originally Posted by exilejeff

however, i am not so fond of that idea with my 3500 shares on the line haha..... >.<

Your not alone. It appears to be the sentiment of todays holders. If your thinking that, then others are thinking that too. You almost have to trade right now that .32 cents is holding. Because if you sell here, you really pinched on chances to buy lower. There may be some, but it might be quick, or not at all. If you were worried about that scenario, better time to sell would have been Friday at .39. I wasnt, so I didnt. Appears being smart has hurt me again. I didnt think they would reject GM's proposal however. I was caught off guard by that. SiriusXM stock reaction to that news, with full manipulation still in effect, should not be surprising, I suppose. Since a TA breakout or breakdown was coming anyway, it was really a day(Monday) were traders(not investors) had to make a decision. It appears they decided to step aside for now, or already sold out. People selling here are reactors, not thinkers.
For example, if siriusxm stock was up today, would you be selling? Or course not. You might even buy. News being the same, GM proposal denied, etc... No, people are simply selling because its dropping, and assuming why.
03-31-2009, 02:54 PM
bananaz

Quote:

Originally Posted by Demian

1,000 shares of SIRI cost $330......where can I sell covered calls on them and get $2,800? I'm all over that deal.......:)

It's not per share, it's per contract........

Yeah, it seemed too good to be true to me.....
03-31-2009, 03:02 PM
Demian

Will someone please respond to this thread.........

http://siriusbuzz.com/forum/showthread.php?t=1740
03-31-2009, 03:06 PM
choirgirl

I would like to say it again, it was GM not SIRI.

Quote:

Originally Posted by bananaz

Yeah, it seemed too good to be true to me.....
03-31-2009, 03:09 PM
mogami

Hi, Was snooping around wondering when 1st Qtr report will come out. Last year it was May 12th for Qtr ending Mar 31st
03-31-2009, 03:15 PM
Demian

Quote:

Originally Posted by mogami

Hi, Was snooping around wondering when 1st Qtr report will come out. Last year it was May 12th for Qtr ending Mar 31st

They will wait until almost the end of Q2 to report Q1............I say the middle of June.
03-31-2009, 03:17 PM
exilejeff

Quote:

Originally Posted by choirgirl

exilejeff, deadline is april 17.
If the stock goes to 50 I am going to keep the shares as well as the 600 $. Then I will do it again. If it goes above 60 $, doesn't matter 61,62 or 70 , I have to sell at 60.

got ya.....so if it goes up u have to sell at $60 but still keep the $600 if it goes down you keep your shares and the $600
i see.....waiting out till 2011 is kinda tough to guess though....but i see that it would be more beneficial to get the call at $2.50 then to just sell the shares at $2.50.......

can they be sold sooner? or are the shares just in limbo until the option expires? and the guy with the put decides to buy it or not
03-31-2009, 03:22 PM
Demian

http://sev.prnewswire.com/radio/2009...1032009-1.html

His Eminence Edward Cardinal Egan to Host Special Retrospective on His SIRIUS XM Radio Show on April 2

Cardinal Egan will retire as Archbishop of New York in mid-April

'A Conversation with the Cardinal' has aired weekly on The Catholic Channel since 2006; Final show coincides with the Cardinal's 77th birthday

NEW YORK, March 31 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (NASDAQ: SIRI) announced today that His Eminence Edward Cardinal Egan, who will retire as Archbishop of New York in mid-April, will host his final episode of the weekly Catholic Channel talk show, A Conversation with the Cardinal, on Thursday, April 2, from SIRIUS XM Radio's New York City studios. The show will air live nationwide from 3:00 - 4:00 pm ET exclusively on The Catholic Channel, SIRIUS channel 159 and XM channel 117.
03-31-2009, 03:23 PM
JohnnyIrishXM

Quote:

Originally Posted by exilejeff

I work at ML, wonder if they will give me a deal on it lol!
so that would be the fastest way to get rid of the shares......but i still don't understand why the certificates would be worth more.....especially if you think they will go into BK

There is a market for older stock certificates,like antiques,I;m talking if it was like 70-80 yrs old....If there were other splits since you owned it it is worth more shares,and they wouldn't send new certificates for them,could be wrong,check it out tho..
03-31-2009, 03:24 PM
edeyoung99

Quote:

Originally Posted by exilejeff

looks like i need to do more reading on options lol

but in layman's terms:
u bought 200 shares at $59 and sold them at $60 for april at $3 a piece.....so u bank money today.....but have to sell at $60 at a certain date regardless of the stock price?
what are the implications if.....
1. stock goes to say $50 by april
2. $70 by april

wait isn't april tomorrow? or is it a specific date? this may not make sense at all, and if it doesn't then i am just confused lol

Ok...Ok...Ok... I am getting confused. How many LICKS does it take to get to the center of a lollipop? Where's Homer when you need him?
03-31-2009, 03:31 PM
exilejeff

Quote:

Originally Posted by relmor2003

Your not alone. It appears to be the sentiment of todays holders. If your thinking that, then others are thinking that too. You almost have to trade right now that .32 cents is holding. Because if you sell here, you really pinched on chances to buy lower. There may be some, but it might be quick, or not at all. If you were worried about that scenario, better time to sell would have been Friday at .39. I wasnt, so I didnt. Appears being smart has hurt me again. I didnt think they would reject GM's proposal however. I was caught off guard by that. SiriusXM stock reaction to that news, with full manipulation still in effect, should not be surprising, I suppose. Since a TA breakout or breakdown was coming anyway, it was really a day(Monday) were traders(not investors) had to make a decision. It appears they decided to step aside for now, or already sold out. People selling here are reactors, not thinkers.
For example, if siriusxm stock was up today, would you be selling? Or course not. You might even buy. News being the same, GM proposal denied, etc... No, people are simply selling because its dropping, and assuming why.

I guess its more that i just don't understand how the BK works.......
if i keep my shares of the GM and they go into BK and come out one day and stock price goes up to what it is today.......then it would be no different if i sold them today.......
so when does a share become worthless? only when a company halts all operations? so if i feel that they will emerge a better company to be profitable again one day and the stock price will rise then i should just stay long on the position
03-31-2009, 03:36 PM
exilejeff

Quote:

Originally Posted by edeyoung99

Ok...Ok...Ok... I am getting confused. How many LICKS does it take to get to the center of a lollipop? Where's Homer when you need him?

meant to say sold the call for $60 sp......for $3 a share which you can keep the cost of selling that option today......but are required to sell that stock at $60 on a specific date regardless of price

terminology is probably way off but im trying lol!
03-31-2009, 03:37 PM
exilejeff

Quote:

Originally Posted by JohnnyIrishXM

There is a market for older stock certificates,like antiques,I;m talking if it was like 70-80 yrs old....If there were other splits since you owned it it is worth more shares,and they wouldn't send new certificates for them,could be wrong,check it out tho..

so basically if the date printed on the certificate isn't prior to the split date then i can safely assume i have no additional shares :P
03-31-2009, 03:40 PM
Sheree

exilejeff, I don't trade in options but The Options Industry Council has a very good educational website. I would learn it inside and out before proceeding with any option trades. Here is the link if your interested. Hope you find it helpful.

http://www.optionseducation.org/clas...ons_basics.jsp

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