IOC Saga Continues

It might break either way or it might do nothing.

Today IOC is presenting at the Independent Petroleum Association of America’s 2010 Oil  & Gas Investment Symposium.  The presentation pitch is here.

These kinds of day-long investor meetings sometimes result in big price moves in the stocks the next day as mutual fund investors get back to their desks.  (Sometimes they result in big moves immediately when the traders at the meeting run hedge funds.)

I took the downward move this morning as an opportunity to neutralize the other half of my naked call short.  I bought stock that can be called away rather than buying back the options.

I’m slightly net long now, and I won’t have any trouble sleeping tonight.


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3 Responses to IOC Saga Continues

  1. Frank says:

    I know alote of people are not going to like what I am going to say
    The banks and Finance companies are in trouble because of the High Intrest they put on so many people makes it very hard to take yes they pay and after awhile I think it gets them made enough that they are paying back much more then the loan was for you buy a house and have to pay back three time what it cost yes I know thats the way it is but it is wrong very wrong ,let me make it easy for you to understand what I”M getting at I what a potatoe and you have many you give me one so I have one potatoe you gave me now you neeed to have the potatoe back you make a loan contract with me over a time I pay you back the one potatoe plus a nother potatoe and a nother potatoe and a nother potatoe and on and on .
    how can anyone in ther right mind feel this is fair,looks like something is very wrong here. GOD sead Intrest is a SIN look it up in the BIBLE and it”s in the KARAN too what is happening to the banks is there GREED ,GREED, GREED.

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