November 11th - Conference Call

[Optionray]

If there is no news of the sale down prior to November 11th, what do you expect to hear on the conference call?  If it becomes apparent there will not be a sale-down prior to the end of the year, how will you position yourself?   Because of wash sale rules and year end tax planning, I've just positioned myself with the following  -  1/17/2015 40 p's and 1/17/2015 60 c's   - Within the next 32 - 70 days, I will sell the positions I had, prior to this recent purchase and keep the recent purchases for next year.

I'm expecting a big move one way or the other the day of or the day after the next conference call.   Once again, I hate buying the insurance (puts) but if we don't hear something upbeat by the 11th, I bet I'll be glad I did.

Does anyone have any thoughts on what they expect to hear on the conference if there is no news of the sale down?

[johnwgrant]

BTW, no date has been given for the IOC quarterly conference call. But, it is expected to be the Week of Nov 11th.

[Optionray]

BTW, no date has been given for the IOC quarterly conference call. But, it is expected to be the Week of Nov 11th.

Thanks, not sure where I got that date from.  Thought someone here on this board had posted that date, marked it on my calendar.  I'd actually prefer the 22nd

[Spartina]

Meg said Nov 11th for conference call. The only way we would hear something material on the 11th is if something material happened on the 11th (or midnight the night before). Very little chance of that. I'm hoping we will hear before then, who knows. I'm hoping if nothing material is announced before then, at least we will hear some positive tidbits from MH about how things are progressing well, on course etc. (Wiggling said WA said MH should be a little kinder with info this time around) Ear to the ground, I'm hearing nothing.

[tarulestheday]

Optionray: question from delt1970 on IV:

Is he long or short the Puts and Calls and is the 40 and 60 the strike he has chosen or the number of contracts he as executed for each? I'm sure he has tried to be helpful with his post, and I respect his opinion and technique, but the post is incomplete and not helpful unless he expands upon it.

[Optionray]

Optionray: question from delt1970 on IV: Is he long or short the Puts and Calls and is the 40 and 60 the strike he has chosen or the number of contracts he as executed for each? I'm sure he has tried to be helpful with his post, and I respect his opinion and technique, but the post is incomplete and not helpful unless he expands upon it.

I bought 30 of the puts, and 20 of the calls yesterday.

I will sell the puts or lighten up on the puts after the 31st of March, or sooner if there is a significant dip after the 22nd of November (32 days after purchasing - wash sale rules).   Which in effect, will lower my basis on the calls I bought.  From there, I will be more heavily weighted on the call side through the remainder of the 2014.

Also, note the cost of the puts was $5.00 and the cost of the calls was $16.00, which in itself is more biased to the long side, so in the event there is a year end run up, I've paid a little insurance and haven't really missed out on the move.  Also note, I have an additional 20 calls of the 1/17/2015 50 calls that I am hanging on to for the next 32-70 days which will be sold prior to the 31st of December, so In effect, I am really sitting on 30 of the puts and 40 calls until the 31st of December.

Also, one other note, when you look at the total value of the puts, should there be a catastrophic collapse in share price, it pretty much covers the value of the investment in calls, so I always remain in the game. The reason for the March 31st date I referenced.