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May 31, 2011
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sold ACI July 27 calls in morning and bought them back 20 cents cheaper still bullish on ACI and coal sector
ACI was ok during day - lost 40 cents after hours = announced a private offering of $2.0 billion aggregate principal amount of senior notes due 2019 and senior notes due 2021 (29.89 +0.29) -Update- Arch plans to use the net proceeds of the offering to partially fund Arch's acquisition of ICG and related transactions, including the redemption, payment of cash resulting from conversion of, or other retirement of certain outstanding ICG indebtedness.
Bought X 44 calls at 3.10 - reasonable risk and reward.= calls ended the day at 3.30 /3.40 = 8%gain
Bought BRKB July 77.5 calls at 2.08 (with limit order), ended the day at 2.70 = 30% gain
Bought CAM Aug 46 calls at 4.00 = sold at 4.60 by 10 AM - bought back at 4.30
Bought KSS JUly 52.5 calls at 2.25 closed at 2.15
Sold Pot calls at open - had bought at 2.13 Friday afternoon - sold for 3.35 by 10 AM = 50% gain
New position
Bought DOW July 34 calls at 3.30 sold at 3.45 and 3.50 by end of day - still buyer =5% profit
Added BTU BTU July 60 calls at 3.50/3.60
new postion PBR JUNE 33 CALL AT 1.79 CLOSED AT 1.86/1.90
SPR SHOULD SEE SOME BOUNCE/SUPPORT Spirit Aerosystems: Adage Capital Partners discloses 6.1% stake in SC 13G filing (21.87 +0.17) = BOUGHT FEW DAYS AGO FOR UNDER 21.50
Added couple of contracts of JEF july 21 call at 1.45 , ended day at 1.50/1.60
