The Strait isn’t blocked. Lloyd’s reported numerous Iranian and sanctioned tankers crossed the Strait in the last 24 hours.
This was pretty snazzy. I am assuming the profits from selling the PUTs paid for the CALLs so exercising the calls was free money. Though I didn’t check the tape.
As of April 17th, Pentwater had 7,824,100 shares so they have sold at least 741,100 shares during this run. Doing the math on that number you get $370M dollars.
In a month.
Now, if you look at the proxy statement Pentwater could have added 775,800 shares but only declared 34,700.
So that means they actually sold ~1.5M shares and netted around $780M.
In a month and they still have 7M shares to lend out to shorts for the next week. Which they can call off loan at anytime. Since I still don’t know what the end game is here for Pentwater I don’t know if they are done or going to manipulate this again tomorrow.
There was a side play here on XTN State Street® SPDR® S&P® Transportation ETF which holds 40k shares of Avis. It is by weight the the largest position in that ETF.
That moved $30 during all of this and unlike CAR had very cheap options the whole time. It was also very cheap to get PUTs on this morning and a lot of people did.
After close today, Avis announced earnings will be released April 29th. The earnings dates that are posted online are estimates. But, Avis had their hands tied by the black out window so this was expected. They can’t raise capital in an earning blackout so this is the attempt of the company to take advantage of the move.
I sold KZIA 0.00%↑ today. This made 108% during the same period of time everyone was paying attention to Avis.
Rumor is Trump is going to reschedule marijuana this week. We are holding a position in Tilray. It tripped liquidity recently (purple diamond.) Last time it did so we did very well. Hoping for the same result.
I tried to buy a position in Richtech Robotics when I saw it tripped Acc/Consolidation but the order never filled. And then I forgot about it. It ran right as expected though.
— AJ
Event Horizon Tools
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