In the past, the PPS would have been gradually increasing

[Optionray]

Followed by a sale off and gradual decline for three months.  The normal 3-4 month channel appears to have all but disappeared and makes for boring trading.  The way the shorts have driven the PPS down into the announcement, if the news is great on both wells, I wonder if we will even bust through 68 between now and the end of the year.  If the news is not so good, I'm hoping the PPS drops to its low within the next 30 days (45 my best guess, 35 if there is a severe market pullback/correction) and reload my position just for tax planning this year (buy in 30 days, sell my current holdings in 62 days).  Would be nice  if the 2017 leaps were available by Nov1st.  That way I would load up on the 2017 leaps instead of the 2016 Leaps (my long term outlook 120+) and sell what I currently have in Mid-December to take the tax loss and still be in the game long term.

Anyone else planning on doing anything similar for year end tax purposes?

Oh, and if I'm really lucky during that 30 day period where I will have twice my normal position, we'll strike oil!

[Putncalls]

I wasn't going to comment but maybe I should.
Without any good fortune with BRW iOC should still be worth 80 bucks a shore by 2015. The reason that you lost your trading channel has more to do with the new post DEC 6 FCF models versus the old NAV models. Of course humans are involved but IOC is not doing the MOD thing anymore.

[Optionray]

Followed by a sale off and gradual decline for three months.  The normal 3-4 month channel appears to have all but disappeared and makes for boring trading.  The way the shorts have driven the PPS down into the announcement, if the news is great on both wells, I wonder if we will even bust through 68 between now and the end of the year.  If the news is not so good, I'm hoping the PPS drops to its low within the next 30 days (45 my best guess, 35 if there is a severe market pullback/correction) and reload my position just for tax planning this year (buy in 30 days, sell my current holdings in 62 days).  Would be nice  if the 2017 leaps were available by Nov1st.  That way I would load up on the 2017 leaps instead of the 2016 Leaps (my long term outlook 120+) and sell what I currently have in Mid-December to take the tax loss and still be in the game long term.

Anyone else planning on doing anything similar for year end tax purposes?

Oh, and if I'm really lucky during that 30 day period where I will have twice my normal position, we'll strike oil!

Looking like 35-45 might turn out to be a reality.  Buying 2016 leaps now, can't wait for 2017's to open up.  Can't pass this deal up at 45, how it could the pps go any lower without bad drilling news and a severe correction in the market?   Will be doubling up on my position this week, followed by selling my original position in 31days to lock in the loss and still be in the game with my purchases this week.   Wouldn't it be sweet if there was a takeover announcement  this month or even a major discovery?   Cash next year vs current market cap - think about it!