RE:RE:RE:Zinc blasted to $1.36 this morningI honestly cannot understand why you keep sticking to this opinion. You're logical on most things, but here you seem to believe that the company should be taking risks.
When the hedging program was implemented Trevali was on the verge of bankrupcy. Hedging bought them some degree of safety, and could very well have been required for them keep their debt covenants intact.
If they had a crystal ball and could guarantee that spot prices would rise, sure. But they didn't.
You can make the bet, and you can buy and sell the stock accordingly. Trevali cannot. If you're wrong on your bets, you stand to lose some money, and perhaps look a bit foolish, but otherwise you move on. If they're wrong on their bets, they declare bankrupcy and we ALL lose our money.
So pat yourself on the back that you were correct in your assumptions on zinc, and move on.