Pershing Square Tontine Holdings, Ltd. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2020 and is based in New York, New York.
I had our favorite MOD start this one. This has been billed as the spac of all spacs. Bill Ackman is the creator and its not his first rodeo by any means. Took a position last week after doing some digging. Currently around my entry price. So far have sold 2 weekly covered calls, unless it spikes hard today, both will be considered dividends for holding my position. Currently trades about 30% over NAV, showing weakness but holding its own considering the market conditions. This one has some very anxious people that have rumors flying everywhere. Reddit has a thread devoted to it and the other boards are piling in on the bandwagon. To date, I have found no leaks from the inside and to me is a positive sentiment. Bill has lot of money and his reputation backing this, which makes me even more optimistic. The holders are entitled to warrants at the 1/9 ratio and are entitled to enter PSTH 2 at the issuance price 20. The same price as this one. This is longterm for me although it currently shows weakness I will write my weekly calls and collect the dividend, at some point I may play the put side for protection. Happy trading/investing.
Obviously there is some risk involved. Currently about 30% downside if it blows up. People should research before jumping in. From my end I'm highly optimistic and feel strongly its in the works from what I have found. Bill was one of the early investors of CPNG which recently hit the street as a direct listing. On the flip side, if you remember the whizzing contest between Bill and CARL ICHAN over the Herbalife short, Bill got smoked BAD. This is the mother of spacs in size and he has a lot of money and his reputation in the bag. There are no guarantees, this is fast approaching the 2 year timeframe. It appears he has filed for PSTH 2 which in the prospectus clearly indicates 1 must be finalized before the next can be employed. Tons of rumors are filling the airwaves, to date nothing has been announced. I prefer a tight lipped journey. Enter at own risk.
There is a lot of spaculation on this one due to its mammoth size. I have sold 2 weeklies for the dividend of waiting it out. If we start to see weakness to downside it can easily be over come playing the put side with options. I read the horror stories of the guys that jump in on the calls based on rumors which is good for me but bad for them. This one is a tight lipped operation and to me its foolish to play that side. Currently max pain for the longs is around 30% that choose to go unprotected. The next quarter is around the corner so its wait and see for me. I'm hesitant to write calls at this point but will be watching the premium at a higher strike.
Same old boring longtermer, tons of rumors. I have not sold calls this week, might wait a day or 2 for the yolo crowd. Still net positive and have the benefit of the warrants. Optimistic but not dancing in the streets.
The tables have turned and now I am blood red and being skulldrug across the parking lot. This being a SPAC is under fire and due to its mammoth size some are racing for the exit. At this point I'm holding the bags. Debating on adding to my position, until then it keeps my TSLA position company.
Showing some life again. Held my position and did not add. Already at the designated percent of my account I wanted to invest. Still geared towards the longterm investment side. This one still has downside risk, enter at own discretion.
