Time for the covered calls, and cash in the puts. if he had it just right he could brake even.
Are they going the same route as Magnum Hunter?
Since I was last on this forum, Rex stock was pummeled by lower gas prices and a couple of analyst downgrades. Yet during that time I secured more option profits and have continued to add more shares to my long positions in keeping with my planned 2 to 3 year time horizon. Tomorrow, however, I will take 2 losses as well as make 1 additional profitable trade. My most recent purchase added more Rex shares at slightly less than $1. In the months ahead I will continue to sell calls against part of my long holdings, and purchase puts at other times for downside protection.
Consider these items. Franklin Templeton Funds own 15% of Rex and are considering an additional financial arrangement with the firm (Hence my votes of "Aye" at today's Special Shareholder Meeting). When Stifel came out with their "Sell" recommendation late last year, they targeted 75 cents as a bottom for the stock. If I can buy more Rex below 85 cents tomorrow, I plan to do just that. Perhaps you may also like to take a look at what happened to XCO once it reached 40 cents per share last year (Granted they have chosen NOT to drill on their Appalachia properties in 2016 :-)
Cried in their coffee in the morning,
then went out drinking at night?
Lots of companies also buy back their own shares
to help move them up n things get bad, if they can.
oil biz had lots of losers this round.
Its enough for many to say...
"F'k this and the horses it rode on"
Never have I dealt with such a bunch of lies and bs as I have in the last few years...live and learn I suppose
half of what it was worth when the great investor first posted this thread. the investors are dumping this stock thousands of shares at a trade
looks like all the investors are dumping this one