SIRI Intraday Thread: Tuesday March 31st

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Originally Posted by Brandon Matthews

I'm such a hypocrite. A few months ago I was screaming for Sirius to do whatever it could to avoid bk. Today I'm wishing GM would do it quickly and get it over with. Then God planted the thought in my head ...what about the gm shareholders..now I feel bad.

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I forgive you! Especially if you can cover my loss! Just kidding! had small profile of GM as a Hedged Bet. Sold all GM today...

You know you're in trouble when the CEO says "Bankruptcy is not a bad idea."

awesome thanks sheree!
i will be an expert in no time.....pfft jk :)

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Originally Posted by exilejeff

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

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Sell your GM shares... With the proceeds buy GM April and May option puts & or bonds.

Watch these webcasts: Options update (about 5 minutes) but especially In the Money (about 7 minutes).

http://www.cboe.com/tradtool/webcast.aspx

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Originally Posted by exilejeff

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

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Correct!!! just use your own judgment on this..

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Originally Posted by exilejeff

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

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GM shares? Your in the wrong forum. Im talking about SiriusXM stock. GM shares are bigger pigs than this. Only a fool would hold GM stock over $1, at this moment in time. Gm stock was worthless 2 years ago. Just took till now for people to realize that.

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Originally Posted by 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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For anyone else interested in learning more about options - if you have a TDA account - you can click on the "education" tab in your account and go through some pretty decent online training. I've been looking at doing covered calls - so I've just been through some of it.

any one else having dejavu about the SP today....

No real people are selling today below .34 or .35, it's just MM's playing ping pong.

I call close at .3400

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Originally Posted by Dave Davis

No real people are selling today below .34 or .35, it's just MM's playing ping pong.

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What Im seeing too. I agree. Which means they will need to move the stock up or down again to generate volume, and if they think .32 is holding, only one way left. :)

Hehe. See...
There you go. They dont even trust .33 or .34 to hold tomorrow.