Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

Cardinal Energy Ltd. is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. The Company is engaged in the acquisition, development, optimization and production of crude oil and natural gas in the provinces of Alberta, British Columbia and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. Its Midale operating area of over 730 million barrels of original oil in place (OOIP) and its low decline in production of 3,200 barrels of oil equivalent per day (boe/d) (net) is supported by both waterflood and CO2 enhanced oil recovery. Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large OOIP pools. Its North area includes Grande Prairie, Clearwater and other properties.


TSX:CJ - Post by User

Comment by Quintessential1on Sep 30, 2023 3:28pm
229 Views
Post# 35663440

RE:RE:RE:RE:RE:RE:RE:RE:700 calls

RE:RE:RE:RE:RE:RE:RE:RE:700 callsYeah I'd like to understand more too if only for the learning experience.

I know he posted about being able to buy a condo mortgage free with proceeds from Peyto calls which even in a low real estate market is not pocket change so yeah, he is playing a big game.

He doesn't seem too interested in responding to us but maybe teaching isn't his thing.  That's cool too.

GLTY and all


JayBanks wrote:

Quintessential1 wrote: Thanks Jay and that is good info about when you might want to excercise early.

I think it is european calls that have to wait until expiry and I might have gotten confused about.

I can see that if Shenty's CJ calls  went in the money in October Shenty might want to exercise them gaining 3/4% per month on his money (more than a GIC) but can I assume that as the share price goes up the calls trading value also rises and may be worth more selling on the open market?

GLTY and all


JayBanks wrote: If you own the call you can exercise at anytime... and also decline on expiry (apparently with a broker call)...

I believe the main reason you would exersize your call early (rationally) is for dividend collections, it would likely have to be a significant one like a special .. or yes, maybe turning around and using your new holdings for selling call options... or a rights offering, or a significant vote like a M&A...



 

I would assume he would hold the calls while it has continued momentum upwards, after it plateaus it would be decision time... either take possession and sell calls for premium or as you said take the profit selling into the open market be it just the options held or the shares and look for a new opportunity... (since he is playing this game with confidence I can't see him taking possession to stay long and just collect the dividend like many of us would)

I'm fairly new to options, so hopefully he can tell us the actual game plan, I would like to understand more myself if I'm missing something... everything I'm talking about is from studying/reading basic ideas and strategies... if he's playing that big of a game he's got more experiance and likely a more sophisticated plan.



<< Previous
Bullboard Posts
Next >>