couple comments on spinoffWe are with RBC DI and got our SOBO shares right away yesterday morning. Today, our book cost showed up as $29.51 (which is consistent with others on this board).
I didn't like the idea of the spinoff from the get-go. I would have preferred leaving TRP as it was. Having said that, I really do like the new TRP with no oil (& Keystone) and lots of gas. I thnk it's better positioned for the long run.
My initial plan was to sell all our SOBO shares as soon as possible. After seeing the action yesterday morning and the big jump is the SOBO share price, I decided to only sell 15% of them at $31.05, I then used that cash plus some extra cash to buy some TRP at $59.83.
Today, I decided that it would have been far better to have sold ~50% of SOBO & bought more TRP at my yesterday prices (but such is life). I have decided to just buy the equivalent amount of TRP at $60.85 that the extra SOBO shares would be worth and put an open sell order in at $31.45 to balance.
I will probably sell the remainder of our SOBO if it gets to $40 but will enjoy the huge divy until then.
I thought some readers would like to see our approach with the hedging of our bets with the different sell dates.
Ciao
Sarge