SPAC & IPO Ideas

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Fogel

Fogel

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ZNTE finally had an announcement, and surprise surprise it didn't budge. Another deal, still no life in spacs. Sold what I had left of ZNTE, down to GSAH BTNB and BTWN now
 
Sanrith Descartes

Sanrith Descartes

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BTWN moving again on zero news. Broke 10.50 again. This is one of the few SPACs that want to run on a DA.
 
Sanrith Descartes

Sanrith Descartes

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BTWN Dec 7.5 calls sitting at 0.9620 Delta. Primed to run if this thing rips on a DA.

1623342227118.png
 
Sanrith Descartes

Sanrith Descartes

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Fogel said:
You going to buy some?
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I loaded up on them. I posted a while back that they were basically trading at just intrinsic value and zero time value. Even today almost no time value baked in for 6 months of time. Without having to worry about theta its a pretty damn good investment.
 
Sanrith Descartes

Sanrith Descartes

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Right now trading at 10.40 so the 7.5 calls have 2.90 intrinsic value. Getting it for 2.90 - 3.0 is almost free time value. I never buy calls but free time value got me interested. And I truly feel it rips to $12 minimum on a DA for GOTO or TOKO

1623344865893.png
 
Fogel

Fogel

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Sanrith Descartes said:
I loaded up on them. I posted a while back that they were basically trading at just intrinsic value and zero time value. Even today almost no time value baked in for 6 months of time. Without having to worry about theta its a pretty damn good investment.
Click to expand...
What premium were you able to get them for?
 
Rajaah

Rajaah

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What do we think is going to blow up first, BTWN or BTNB? I'm hedging my bets by having both. Even in this SPAC wasteland there's clear enthusiasm for them within the space.

I finally caved and made my big BTNB buy at 10.32 this morning. It brought my 10.50 average down to... 10.42. Too bad I missed out on a buy at 10.00. Not too worried though, I'm pretty well set-up now. It's very close to passing my initial investment, and if it goes to $11.50 or $12 on a DA I'll be pretty happy. Even though I think it has potential to go beyond that, my exit point is $12 because that's the point where it'll balance out my recent losses and put me back in an overall green for stocks this year. At my current noobish level, balancing out losses is a win.
 
Tmac

Tmac

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I think the feeling is that SPAC's are dead right now, so if you're at or below NAV you simply have a place to store some dollars that might maybe could potentially increase in value, but nowhere near what it was last year.
 
Fogel

Fogel

Mr. Poopybutthole
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Like I said before, I've taken almost all of my money out of spacs. I'd rather sell puts than have money sitting around doing nothing at nav, and if you're lucky right now you get a 5% bump on the deal announcement.
 
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TheBeagle

TheBeagle

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Trade warrants if you want some of that old school SPAC action. I got some GSAHWT for $1.72 a couple weeks ago. It popped 11% today for no good reason to finish at $2.18.
 
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Sanrith Descartes

Sanrith Descartes

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TheBeagle said:
Trade warrants if you want some of that old school SPAC action. I got some GSAHWT for $1.72 a couple weeks ago. It popped 11% today for no good reason to finish at $2.18.
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PSTH warrants have been flying because no one knows how to price them yet. Big swings last couple days. I personally think the new strike will be 6.25
 
Rajaah

Rajaah

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Man, with all the pessimism going around and the steep after-hours drop (called it) I feel like I'll be supremely lucky if BTNB even cracks $11. Maybe my $12 exit point is aiming too high. Though like I said, anything over $10.42 or so should recoup the investment for BTNB itself at least. Would be a bummer to not at least gain something after months of waiting.
 
Sanrith Descartes

Sanrith Descartes

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Rajaah said:
Man, with all the pessimism going around and the steep after-hours drop (called it) I feel like I'll be supremely lucky if BTNB even cracks $11. Maybe my $12 exit point is aiming too high. Though like I said, anything over $10.42 or so should recoup the investment for BTNB itself at least. Would be a bummer to not at least gain something after months of waiting.
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Always keep perspectives in mind. If you buy a SPAC at NAV and a year later it gets a DA and goes to $12 you reap a 20% annual profit. In normal times, this is a nice return on an investment that had a floor built-in. The second half of last year didnt change SPACs nearly as much as it changed perception of them. The secret is and always was not paying above NAV for them. That is where the risk comes in and what eats up profits if it doesnt moon. One of the defining difference between a SPAC and AMC/GME is the latter two can go to zero. A SPAC cant go much lower than $9.50 and will be able to exchange for close to $10 pre-merger. The problem isnt the SPAC vehicle, its how people were investing in them.
 
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