My BUCY story

So talk about winning the battle and losing the war!!

Last week, I was watching the movie, The HeartBreak Kid and for some reasons, when Ben Stiller said--"Why do you call Buford, Boo" that just stuck in my mind.



I think that's a beautiful name,
Boo. Is that short for something?

I'm Boo.

Sorry.

- Yeah, it's short for Buford.
- Buford?

Okay. But why
don't they call you "Byoo"?

Byoo! Why didn't we ever
think of that?


The very next day, I went to the antique mall, and the lady behind the desk asks me if I am a good speller. I say yes, and she asks me if I can spell buoyancy. So I spell it for here--she says it still doesn't look right--so I Wiki it on my phone and show it to her.

So I walk away, thinking about Boo and Buford and buoyancy--and then I see this book on the floor. Cosmic Mind Power.

So I pick it up--because I've got a trade. That's enough for me!

So I'm walking around--and since traders are the suspicious types, always looking for a tip--I decide that's the universe telling me to look at BUCY. So I did. But instead of buying the calls on the name --something I would normally do--instead I shorted 40 of the BUCY November 67.50 puts.

I legged on this trade first, and then later, I would buy some calls with the collected premium.

However, the stock came in, and so I didn't buy the calls.

Today it gets a bid from Caterpillar at $92--so I collect the premium, but I get none of the upside.

On a $8 billion deal, with a 30% premium, I have just a short position of 40 puts, instead of calls on that name!

Otherwise, I would say "Booyahh for Bucy" to go with "Boo" and "buoyancy!"

And for those saying that the "tip" from the "Universe" didn't work out because I just sold the puts?

Well, I still think it did.

You don't think selling puts on a takeover instead of buying the calls is a "Heartbreak?"

Booyahh baby!! Ouch!

11/09/2010 Sell to Open
4.0000
BUCY 11/20/2010 67.50 P PUT BUCYRUS INTL INC$67.50 EXP 11/20/10
Details
$0.45000
$176.08
$3.92

11/09/2010 Sell to Open
7.0000
BUCY 11/20/2010 67.50 P PUT BUCYRUS INTL INC$67.50 EXP 11/20/10
Details
$0.45000
$308.12
$6.88

11/09/2010 Sell to Open
9.0000
BUCY 11/20/2010 67.50 P PUT BUCYRUS INTL INC$67.50 EXP 11/20/10
Details
$0.45000
$396.16
$8.84

11/09/2010 Sell to Open
6.0000
BUCY 11/20/2010 67.50 P PUT BUCYRUS INTL INC$67.50 EXP 11/20/10
Details
$0.45000
$264.12
$5.88

11/09/2010 Sell to Open
10.0000
BUCY 11/20/2010 67.50 P PUT BUCYRUS INTL INC$67.50 EXP 11/20/10
Details
$0.45000
$440.17
$9.83

11/09/2010 Sell to Open
2.0000
BUCY 11/20/2010 67.50 P PUT BUCYRUS INTL INC$67.50 EXP 11/20/10
Details
$0.45000
$88.03
$1.97

11/09/2010 Sell to Open
2.0000
BUCY 11/20/2010 67.50 P PUT BUCYRUS INTL INC$67.50 EXP 11/20/10
Details
$0.45000
$88.03
$1.97