Author Topic: An article mentioning Assyrians!  (Read 1937 times)

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Offline ASHOOR

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An article mentioning Assyrians!
« on: January 04, 2006, 01:52:20 AM »
Guys look at how they mention Assyrians in this article, kinda weired LOL
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Blessed are rubber makers, but Ansell's no monte
Email Print Normal font Large font By Keep Your Options Open An Occasional Series On Options Trading By David Scott.
January 4, 2006

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AdvertisementThere's a lovely line at the end of Monty Python's The Life of Brian. One of the crucified characters describes his brother as "up and down like the Assyrian empire".

The same might be said for Ansell's share price over the past three months.

Ansell was one of the stocks I was stalking in September. Enormous price-earnings ratio, lousy dividend … it simply had to fall.

I bought some put options during the wee market correction in early October and strapped in for the ride.

A put option gives its owner the right, but not the obligation, to sell a stock at an agreed price. With Ansell puffing along above $11, the agreed amount, or strike price, was $10.30.

This was the price I hoped Ansell would drop below.

Option values are partly determined by the amount of time they have to run and the volatility of the stock they represent. It's in this context you might hear people using the terms delta, gamma and vega. If it's all Greek to you, then you are not alone. All you really need to remember is that a put option is what you buy if you think a share's price will drop. P for pessimist.

But back to Ansell, the rubber maker with a penchant for sharemarket bounce. I paid 21.5¢ each for two put options and they promptly doubled in value as the Ansell price dipped.

Each option represents 1000 shares so 21.5¢ equates to $215. After two weeks the stock had done the right thing and was trading 60¢ below my entry price. The options were worth nearly three times as much.

Life was good. But selling is difficult. Even when taking a profit it represents the death of a dream, or at least the death of greed. When taking a loss, it's a stone-cold admission of failure.

I stayed aboard the Ansell roller-coaster as it went up and down like the Assyrian empire. Finally came some welcome bad news. On November 17, Ansell announced that its first-quarter results were below expectations.

The shares slid, but soon resumed their erratic behaviour. Some days they'd roll up or down 20¢ in the final hour of trading.

With two weeks to run I saw them slip again, this time down to $10.29, and decided that any recovery was my signal to exit.

Ever the rubber company, Ansell quickly bounced back to make my exit inevitable. With little time value left, the put options fetched 17.5¢, a small loss on my entry price.

I think they were worth it for the entertainment value.

An $80 loss? It's just a flesh wound.

ANSELL: October 6, bought two December $10.50 puts @ 21.5¢: $430. Sold December 12, 17.5¢, or $350.

The author is a journalist, not a qualified financial adviser.


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Offline vanity_fair

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Re: An article mentioning Assyrians!
« Reply #1 on: January 04, 2006, 01:57:27 AM »
Quote from: ASHOOR

AdvertisementThere's a lovely line at the end of Monty Python's The Life of Brian. One of the crucified characters describes his brother as "up and down like the Assyrian empire".




well well well.  looky what the cat dragged in.  apparently no one's seen this movie ashoor.

Offline ASHOOR

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An article mentioning Assyrians!
« Reply #2 on: January 04, 2006, 02:00:03 AM »
Is that a movie or a book, I have no idea
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An article mentioning Assyrians!
« Reply #2 on: January 04, 2006, 02:00:03 AM »

Offline vanity_fair

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An article mentioning Assyrians!
« Reply #3 on: January 04, 2006, 02:03:10 AM »
it's a movie!!!!


Offline vanity_fair

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An article mentioning Assyrians!
« Reply #4 on: January 04, 2006, 02:03:52 AM »

Offline miranda

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An article mentioning Assyrians!
« Reply #5 on: January 04, 2006, 03:18:01 AM »
hahaha thats a great movie... just like all the monty python movies

Offline BD

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An article mentioning Assyrians!
« Reply #6 on: January 04, 2006, 05:53:39 PM »
I hope you guys learnt a great way to make money? Besides the Assyrian reference.

 

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