TTT if you don't mind me asking when do you plan on exercising the option? S just keeps on climbing, but it has to stop at some point right?
Sprint Owner Softbank Increases Debt for ARM Purchase; Are Further Sales Coming? SoftBank's (SFTBY) $32 billion bid for the U.K.'s leading chip maker ARM Holdings (ARMH) comes at an interesting time for the Japanese telecoms giant. The owner of Sprint (S) has been on a selling spree to pay down the debt it incurred from buying the ailing wireless carrier. In the last two months, SoftBank has sold $10 billion worth of its investment in Alibaba (BABA) and it sold games company Supercell, maker of "Clash of Clans", to a Chinese consortium for $8.6 billion. But while management had been saying the sales were being used to pay down the debt, analysts in Japan believed it was building up a war chest to make a large acquisition. https://www.thestreet.com/story/136...ther-sales-coming.html?puc=yahoo&cm_ven=YAHOO
Sold my calls on last Friday for some decent profits and just bought some August 19 $4.50 calls this morning.
I have the same calls I bought some time ago plus a few others The market made the assumption that Softbank is no longer going to focus on S. If so this could make S a take over target or go private like was in discussion some time ago. Softbank has to much money invested in Sprint not to not focus, moving forward Off the lows from a overbought level
As I posted in my picks thread this morning it looks like S is making the turn back up. It is getting stronger as the markets dropping more
Sprint's stock rallies after revenue beat, net phone customer additions Sprint Corp.'s stock S, +0.43% jumped 1.1% in premarket trade Monday, after the telecommunications company reported fiscal first-quarter revenue that beat expectations, with new postpaid phone customers added after losing them a year ago. For the quarter ended June 30, losses widened to $302 million, or 8 cents a share, from $20 million, or a penny a share, in the same period a year ago. The FactSet consensus was for a per-share loss of 8 cents. Revenue slipped to $8.01 billion from $8.03 billion, but was above the FactSet consensus of $7.99 billion. Postpaid phone net additions were 173,000, after a net loss of 12,000 a year ago, while postpaid phone churn improved to 1.39% from 1.49%. Wireless net additions were 377,000 vs. 675,000 a year ago. "We had another quarter of solid progress in our turnaround with the highest first quarter postpaid phone net additions in nine years, the lowest postpaid phone churn in company history, and finally being postpaid net port positive against all three national carriers after five years," said Chief Executive Marcelo Claure. The stock has run up 28% year to date through Friday, while the S&P 500 SPX, +0.46% has gained 6.4%. http://www.marketwatch.com/story/sp...e-customer-additions-2016-07-25?siteid=yhoof2
Sold mine today for a decent profit. As Gil uses to say: a day like today is a Gods gift, pick it! Thanks for another great tip, TTT.
S exploded today to the upside. I was at a dis-advantage not having L2 with me but from the streamer it did not look like all the buying was done. I took some profits selling 10% of my shares and all of the 07-29-16 $5.50 calls and 60% of my $4.50 08-19-16 calls. Who knows I might want to buy back some the $4.50's if I feel at the time it is going higher. I did this with my AMD $4 calls and I cashed in today
You did as most traders would have done as S was weakened by the Softbank deal and did not look like could climb back to the previous level before expiration. I still think it was a overkill and they won round 1 but they got it put to them today I congratulate you on doing what would have normally been the right play
