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Technical Analysis - i.e chart analysis, point count etc etc - anything that helps in doing the right thing with CYTX shares plus any smart strategies to become a long owner of CYTX shares.
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TOPIC: DOV´s forward Investment Strategy and experience therewith

Well Well Well 07 Mar 2017 06:59 #8968

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Not sure where else to post this, but since I have never seen this before, it may be of interest. Some time ago I sold 100 March $2.00 puts on CYTX for $.45. My intension was to either see them expire worthless or allow them to be put to me (buying another 10,000 shares at a net $1.55). Since that time, I have sold additional Puts for the month of June so I decided to roll these out until September. Over the weekend, I placed a GTC order to close out my March short position and establish a new short position in the $2 puts for September for a net credit of $.15. The order filled at the open yesterday. The crazy thing is that I purchased the 100 March puts for $4.93 and sold the September puts for $5.08 for a net credit of $.15.

If Cytori went to zero, the put could only be worth $2.00. I called Schwab thinking a decimal point had been moved a tenth, but NO! This was a legitimate trade according to the latitude given to market makers! I asked what would they be reporting to the IRS because I generated a $44,550 loss on the March put rollout and if put at $2 in September, I would have a cost basis of minus $3.07 after commission. If the stock is over $2 in September, it won't matter to me or the IRS.

I can't figure out why a market maker would want to do this???

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Well Well Well 07 Mar 2017 08:33 #8972

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So you are saying the net credit was about right but the gross numbers were screwy? It looks like they were doing their screwing around for their own purposes but it all washes out within the same tax year.

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Well Well Well 07 Mar 2017 09:41 #8973

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DOV
It does look like a fat finger issue. Amazing whats allowed by market makers. I guess you could have pushed Schwab to cancel the trade since it looks like you called about it right away. Small chance they would have done so if your a good enough customer...very small.

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Well Well Well 07 Mar 2017 14:44 #8975

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FAS

A lot of people here are trading CYTX one way or the other (Long, Short, Hedge, etc). I think you should set up an area for people to discuss trading out in the open - people do not have to disguise to be long, while they are really short; or the other way around.

I think the longs can learn something from the shorts to be more defensive.

DOV is not able to find a proper place to post his latest option trading.

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Well Well Well 08 Mar 2017 07:53 #8978

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franshei wrote: FAS

A lot of people here are trading CYTX one way or the other (Long, Short, Hedge, etc). I think you should set up an area for people to discuss trading out in the open - people do not have to disguise to be long, while they are really short; or the other way around.

I think the longs can learn something from the shorts to be more defensive.

DOV is not able to find a proper place to post his latest option trading.


This section is perfectly fitted for it- as TA and Investment strategy category. I just moved it to make it a separate topic within this category.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:
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