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  #11  
Old 06-22-2007, 08:59 AM
CrushinFelt CrushinFelt is offline
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Default Re: Blackstone IPO: Anyone buying?

How soon do options become available on IPOs? I'd love to write some calls on this whore after the inital surge.
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  #12  
Old 06-22-2007, 10:29 AM
jws43yale jws43yale is offline
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Default Re: Blackstone IPO: Anyone buying?

IPO was 20% up on opening at $36.45. I think it may close over $40 today as there was demand for the IPO especially from Asia at a price of $41 a share. I don't know how long this stock will stay hot, but I took a position at a little over $36.65 and am hoping to flip it in the next couple of weeks.

Edit: The stock has started to tank somewhat, so maybe I am an idiot, or maybe it is just the market. I will probably hold unless things get dismal.
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  #13  
Old 06-22-2007, 12:17 PM
CrushinFelt CrushinFelt is offline
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Default Re: Blackstone IPO: Anyone buying?

[ QUOTE ]
How soon do options become available on IPOs? I'd love to write some calls on this whore after the inital surge.

[/ QUOTE ]

Following up:

Q: Can options be traded on any listed stock?

A: By the standards established by the options exchanges, options can only be listed on securities meeting all the following criteria at the time of listing:

The underlying equity must be listed on the NYSE, AMEX, any national stock exchange or Nasdaq National Market.
The closing stock price must have a minimum price per share for a majority of the trading days during at least five trading days.
There must be at least seven million publicly-held shares outstanding excluding shares held by directors or holders of 10% or more of the underlying equity shares. (e.g. the public "float" must be seven million or more.)
There must be at least 2,000 shareholders.
Generally, there would be a minimum of five days from the IPO date before options could be listed on any stock, but this criteria alone would not guarantee listing.

http://www.888options.com/help/faq/general.jsp#1
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  #14  
Old 06-22-2007, 05:53 PM
Evan Evan is offline
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Default Re: Blackstone IPO: Anyone buying?

[ QUOTE ]
What do you guys think of Cuban's blog post on it (http://www.blogmaverick.com)?

[/ QUOTE ]
I just read that and was coming here to post it. On the whole I agree that there's a big conflict of interest created when a company like this goes public. Managing to quarterly numbers could really impact their businesses and although I don't have frst hand experience, I'm inclined to agree that it's going to happen whether the general partners claim it will or not.
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  #15  
Old 06-22-2007, 08:20 PM
El Diablo El Diablo is offline
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Default Re: Blackstone IPO: Anyone buying?

All,

Cuban post link: http://www.blogmaverick.com/2007/06/...ld-be-careful/

and a sweet chart:
http://www.watchmojo.com/web/blog/?p=1715
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  #16  
Old 07-27-2007, 12:48 PM
gonebroke2 gonebroke2 is offline
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Default Re: Blackstone IPO: Anyone buying?

Blackstone under 24 bucks. Looks like the founders cashed out their billions at the right time. I feel sorry for the bagholders holding this POS.
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  #17  
Old 07-27-2007, 01:32 PM
jws43yale jws43yale is offline
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Default Re: Blackstone IPO: Anyone buying?

[ QUOTE ]
Blackstone under 24 bucks. Looks like the founders cashed out their billions at the right time. I feel sorry for the bagholders holding this POS.

[/ QUOTE ]

I got rid of it at 31, and even though my investment was not too big, the loss still hurt. Even worse is that if you see my earlier post, I had planned on shorting it, but mistimed the market and it never hit the $40 I wanted to sell at. Oh well. Wish I would have sold at $38 when I was tempted and then entered into the short.
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  #18  
Old 07-27-2007, 02:09 PM
APXG APXG is offline
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Default Re: Blackstone IPO: Anyone buying?

[ QUOTE ]
[ QUOTE ]
Blackstone under 24 bucks. Looks like the founders cashed out their billions at the right time. I feel sorry for the bagholders holding this POS.

[/ QUOTE ]

I got rid of it at 31, and even though my investment was not too big, the loss still hurt. Even worse is that if you see my earlier post, I had planned on shorting it, but mistimed the market and it never hit the $40 I wanted to sell at. Oh well. Wish I would have sold at $38 when I was tempted and then entered into the short.

[/ QUOTE ]

I don't think it was possible to "correctly" short Blackstone this early b.c. people love flocking into big IPOs unless the market is falling sharply. Had it IPOed in March we all would've still been correct on the long-term short, but never been able to hold on to it b.c. it would have indeed went to 40 or even much higher.

Why were you long BX in the first place when it never sustained any sort of upward move?
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  #19  
Old 07-27-2007, 02:19 PM
jws43yale jws43yale is offline
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Default Re: Blackstone IPO: Anyone buying?

I bought the morning of the IPO anticipating a move to $40-$43. At that point I planned to sell and then go short as soon as I was allowed.
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