You must excuse this bit of silence and slight delay in getting some proper posts up as your interim King, but I’ve been mired in an office move, both in my virtual and my real world. And while the virtual move (from the PG to the KoPG) has been handled ever efficiently and effectively by iBC’s Computer Wizard(s), I can’t say the same about my real-world office move.
That arduous process has now been going on for several days and has included such egregious steps as the employees having to pack up their own office (computing equipment included), tag & bag it all, stack ’em nice & neat for the illegals to throw them into their truck and drive them a mile down the road…then, at the new site, unpack it all, hook it all up, and then deal with a half-finished network environment, improper lighting, and various other confusing directions. The frustration was palpable.
But at least we have free coffee, although NOT of the K-Cup variety (instead, we have a few industrial strength espresso centers, which make mighty fine potent potables with fresh ground Peet’s beans).
In any case…it’s nice to back in the friendly confines of the KoPG, even though much cleaning is needed after V.King’s assassination. You know, cleaning bits of “brain” matter off the walls, and scrubbing the floors/furniture clean of questionable residues (while ushering V.King’s army of skanks back out onto the streets…begone, bitches!). As the original proprietor of this tab, the amount of filth around saddens me to no end.
Those of you who have been around for a while should know what sorts of boring stuff to expect from me – daily updates of things that pertain to me (shocking, I know, for a blog). Nowadays, this mostly includes snapshots of my portfolio and trade ideas, but it may also include general/interesting action from the general options landscape out there.
While for the past few months I’ve kept it very simple with directional trades, I’m no stranger to more complex options strategies. In fact, I did a whole series on them last time I was sitting on this here throne. I will look to get back to doing more of that in the new year, once volume & volatility picks back up. That being said, many of those strategies are long volatility plays (straddles, ratio spreads) so now may be the best time to open a few of those. Food for thought, certainly.
__________
Anyway…let’s kick things off with a highly scintillating, ever exciting, uber-stimulating…portfolio update!!! Wooo!!!!
It was actually a pretty fucking great day…fit for a King, dare I say. Several of the bullish bets made last Thursday came to fruition and were hastily booked to ease the overall pain of the month-to-date bottom line (now off of it’s lows of -5%, back to “just” -3.5%).
All 4 sold positions were replaced, although with an even split of long puts & long calls – bearish on MOS & POT; bullish on BWLD & FLS (also included is the 1 closed position from Friday):
Tuesday’s picks include only calls:
- CDE (@20.25), FCX (@79.50), FLR (@41.17), ILMN (@28.50), KR (@20.28), MUR (@54.60), USO (@36.14)
- Although I am tempted to add to WMT puts under $53.75…
DPeezy – Good luck with the moves. Office moves are the worst.
Congrats on regaining the crown.
Thanks, Yogi.
What kinda chintzy operation makes you move your own stuff? I hope you’ve got equity for taking that kind of crap.
I also look forward to hearing more about your landscaping.
_______
Chintzy, indeed.
And while I do have some “future” company stock, they are quite worthless until we go public. And there’s no guarantee that will ever happen…
_________
Landscaping?
I don’t get it…
Nowadays, this mostly includes snapshots of my portfolio and trade ideas, but it may also include general/interesting action from the general options landscape out there.
_______
Ahh, good call.
Of course, you can’t do any landscaping without a cadre of Mexicans to help you, so I gotta find me a flatbed/transport first.
FYI — there’s is absolutely NO REASON for a company to withold equity participation until “they go public” or some other bullshit excuse.
Given the extent to which Sarbanes Oxley has de-balled the IPO market, this sounds like some kind of scam to keep employees to me.
Illiquid equity still holds value, ESPECIALLY if your firm gets bought out by some other fish (which frankly, is the FAR more likely exit for your pirating bosses).
If equity participation is really a promised “benny” in your company, you should make sure you have it whether the company’s stock is liquid or not.
____________
this sounds like some kind of scam to keep employees to me.
Oh, it is/was.
When we broke off from Big Brother (or, more like, got shrugged off), they resorted to all the tricks in the book to keep employees from jumping ship. Luckily for them, everybody else was in a hiring freeze, so there really weren’t any other options out there…
Soon as things start to thaw, you need to press that leverage… especially this year, as it’s “last year before the Dems jack Cap gains taxes to the moon.”
And that means M&A Tonnage.
_____________
Boy this thread sounds familiar. Jake – I wish I knew you 2 companies ago… I guess it’s always a good idea to have an M&A guy in the family.
Doesn’t hurt if you own illiquid equity.
IRS-employed family members are nice too. Some of the best valuation guys in the country.
_________
Haha…I once figured that it’d be good to have a lawyer around…and then she decided to specialize in family law. I’d be lucky to get out with 50-50!
Congrats. If there ever was a ‘once and future king’ for the PeeG, it’s definitely DP to the Zed.