$10 Billion Dollar Stock Buyback
BHP Biliton (BHP) just announced a $10 Billion Dollar stock buyback over the next 18 months!!! Thats on top of the $3 Billion previously announced. About 4 months ago I bought BBL. BHP also trades as BBL and BBL trades at a slight discount to BHP, making it cheaper to own blocks of 100. Since BBL closely follows BHP it doesn’t matter which one you buy. I’m up 8.5% since then and I think there’s still a long way to go.
Most of my holdings are oil & gas or commodity companies. I’ve also been selling naked puts sporadically on companies like STP and CRDN which have done pretty well. Well enough to offset my losses on WCI. Since I started shorting WCI in October its up about 30%.
Has anyone had luck consistently buying options instead of selling them???
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February 8th, 2007 at 2:41 pm
I just bought shares in BHP. This company is doing very well.
I hope it stay that way.
February 9th, 2007 at 6:56 pm
I own BHP through the Colonial First State Global Resources Fund (6% of net worth)… likely there is some in the CFS Conservative Fund too.
I have tried selling options in the past but now I just don’t see it as a terribly attractive proposition. Too much risk for a given return. I mainly buy deep in the money options with premia as close to that a futures contract would have as possible. I prefer to trade futures now (especially as it has lower taxes). I am interested though in currency options. But seems that IB doesn’t trade the Philly currency options and the online market in options on AUD futures seems non-existent. I found forex futures to be rather scary