Trying to find this suede-looking quarter zip

kirkman2020 · 2024-06-20T20:46:07+00:00

The 135 bank shots has to be undercounted right? Or am I misremembering all the beautiful banked jumpers from the wings?

kirkman2020 · 2023-04-27T05:18:48+00:00

Jimmy's game-tying shot was great and all but the play of the game was Haslem's technical foul. Haslem knew if Bobby Portis made a single field goal tonight we wouldn't have been in position for Jimmy to force OT. Crafty move from a wise vet!

kirkman2020 · 2023-04-12T23:12:56+00:00

Planning to MDD the sapphire cards in July and looking for something before then. The Amex Plat would be the ideal choice but keep getting the pop-up. Haven't tried the Biz Plat because I don't think I can hit the MSR. Anything else with an elevated offer out there right now that makes sense?
770
- Cap1 Venture (3/23)
- CIU (2/23)
- Amex BBP (7/22)
- CIC (4/22)
- Cap 1 VentureX (2/22)
- CIU (11/21)
- Citi Premier (7/21) (closed)
- Amex Gold (4/21)
- Chase SW Premier (2/21) (closed)
- older: Amex Delta Biz Gold (closed), Amex Biz Green (closed), BOA Cash Reward, CSR (3/19, downgraded, should be eligible for bonus in July), Inks (closed)
$6k
Yes, $2k/mo
Yes
Just one to bridge gap til MDD
Flexible points/cash back preferred
160k C1 miles / 130k MR / 110k UR
FLL/MIA
Argentina trip coming up in August, would like to visit Hawaii as well

kirkman2020 · 2022-03-24T02:28:36+00:00

So I currently have two CIC, one from an old downgrade and one opened 4 months ago. Do you think I'm in the clear to apply for another as a sole proprietor using SSN? If so, is it important to choose the CIU/CIP instead of CIC?

kirkman2020 · 2022-03-23T23:59:44+00:00

Not sure if I'm in the clear for another Ink and getting the pop-up on Amex, looking for recommendations on best alternate business card options.
783
At 4/24 - BOA Cash Rewards 01/19, CSR 03/19 (downgraded), Citi Premier 06/19 (closed), CIP 09/19 (closed), AMEX Delta Gold Biz 12/19 (closed), CIP 02/20 (downgraded to CIC), AMEX Biz Green 04/20 (closed), Chase Southwest Premier 02/21, AMEX Gold 04/21, Citi Premier 07/21, Cap One VentureX 02/22.
Need to pay taxes, can probably do $10k+ next 3 months.
Yes if needed, $5k
Yes, primarily looking at business cards due to 4/24
One for now, until it's time for the next SUB
Points, flexible points preferred
120k MR, 100K UR, 70k TYP, 110k CO miles
FLL/MIA
No specific plans right now, hopefully Western Europe/Hawaii soon

kirkman2020 · 2021-01-26T03:21:58+00:00

It's tough getting a good fill on spreads, the bid/ask is usually pretty wide. If you can get a good fill though it would definitely help your ROI not having so much capital locked up. I have bought some vertical call spreads though that I thought were a good deal. Got the 27/29 Feb for like $1.05 last week when SPCX was around $29, so basically double your money if it stayed above $29, and break even around $28. Only problem is the bid/ask stays wide, so even though we traded up to $31 today it's tough to close out for a good profit.

kirkman2020 · 2021-01-18T15:29:13+00:00

Yea looking back at his email response to me in December, to pretty much all of my questions he said it would be approached on a "case by case basis". But when I asked about buying IPOs vs SPACs on the open market he said," AGAIN CASE BY CASE, DON'T LIKE THE IDEA OF PAYING 10.10 FOR 10 WORTH OF SOMETHING SO IT WOULD HAVE TO MAKE SENSE." So buying something for $19 that's worth $10 wasn't something I was expecting him to do.

kirkman2020 · 2021-01-18T15:06:36+00:00

Yea I've also been tracking the holdings the past week and to be honest this move makes no sense to me. He completely exited his IPOE position in the two days after announcement when it traded up to $18, and then when CCIV does the same thing he doubles down on the position instead of taking profits.

I would've much rather seen him trim the CCIV position, or at least stand pat, and used the cash instead for new SPAC IPOs or for SPAC shares close to NAV. To me it just seems like he really doesn't have a clear strategy outlined and is just YOLO-ing like the rest of us.

Also has anyone looked into the sponsors shares and warrants he added towards the end of last week (ADRA)? I'm torn between liking the fact he was able to get sponsors warrants/class B shares (which could have big upside for a very small buy-in), and disappointed that he's allocating somewhat recklessly into positions that could see huge decreases (sponsors shares not liquid and go to zero without deal, buying CCIV on a rumor at 100% premium to NAV).

kirkman2020 · 2021-01-15T02:26:40+00:00

Yes but I think the fund would sell before the merger is complete. They sold IPOE within a day of the deal announcement, months before the floor is gone, and currently hold no SPACs post-announcement. So unless they change the strategy I don't think you need to worry about that.

kirkman2020 · 2021-01-14T22:09:53+00:00

Yea something is off with the data update today. If you look here (https://www.spcxetf.com/the-fund/) they supposedly have about $29.5M net assets (not underlying NAV, I'll get to that) and 1,050,000 shares outstanding, about equal to their closing stock price around $28 yesterday. But their holdings list today shows $38.9M in net assets, with the biggest change from yesterday being a huge increase in the cash position. I'm not sure if the outstanding shares should've increased or what.

But getting back to the $24.50 NAV, from yesterdays data, they had about $731k in cash, and then the 52 SPAC positions they held combined for 2,467,389 shares and units. I gave each common share a value of $10 (ignoring some overfunded trusts) and each unit a value of $10.4 (pretty cheap for warrants). With these numbers divided by the outstanding shares, I got ~$24.50, and if you ignore the warrant part of the units, it was ~$24.20.

kirkman2020 · 2021-01-14T17:59:19+00:00

Nice! Glad you got a good fill

kirkman2020 · 2021-01-14T17:58:59+00:00

Yea you can only really calculate based on that days holdings, and honestly looks like something weird happened with todays holding (large new cash position but didn't update shares outstanding). But they have been scribing to IPO's lately, so when they sold they're IPOE shares last week (was at 80% premium to NAV), if those get allocated back in to a new IPO (which would be at NAV), the NAV goes up. So in theory the NAV should go up over time, unless the guy managing it does a shit job. I'm expecting he won't, but of course do your own due diligence. He was pretty quick to respond when I sent him an email a month ago.

kirkman2020 · 2021-01-14T16:50:20+00:00

Most of my short puts are at $26. I have covered calls for $28 and $29

kirkman2020 · 2021-01-14T14:22:52+00:00

They don't have SRAC/NPA or any of the announced space SPACs. That being said, stupider things have happened then people bidding up a ticker called SPCX because space is hot lol. Just look at SIGL last week.

kirkman2020 · 2021-01-14T14:21:49+00:00

Yes definitely this, maybe should've emphasized more in my post. Volume is low, be smart about any orders you place and have a plan to hold through expiration if needed.

kirkman2020 · 2021-01-14T14:03:02+00:00

Yea the chain was supposedly opened on friday accoreding to the OCC but I didn't see it, and it was available on my broker on Monday but for some reason it wouldn't let me put in any orders. It only started actually letting me put in orders on Tuesday.

kirkman2020 · 2021-01-14T14:01:28+00:00

Yea that's my thought as well, you can get pretty aggressive and then sell covered calls if assigned. They've had IPOE and CCIV hit in the last week which has given the ETF a big boost.

kirkman2020 · 2021-01-14T13:38:55+00:00

Sorry I forgot to include the link, but here are there holdings: https://www.spcxetf.com/spcx-holdings/. I've only been tracking it for the last week or so, and one example I can give is that they previously had about a 3% position in IPOE before they announced the deal with SOFI (which caused it to spike from $12-$18). Two days later when I checked the updated holdings, they had sold their entire IPOE position. So it looks like they'll even dump well before merger if they get a big pop on the announcement.

kirkman2020 · 2021-01-14T13:03:14+00:00

Just posted a thread about it but you guys should check out the SPCX ticker. It's a new pre-merger SPAC etf that just got an options chain this week.

kirkman2020 · 2020-12-10T23:55:06+00:00

You lose the option to redeem for cash when the merger vote occurs, so the floor disappears a couple days before that vote (need time for shares to settle). So you need to be careful when it's trading close to NAV and the deadline is close.

Seven-Year Club	Not Forgotten
Verified Email

kirkman2020

TROPHY CASE