It's been a wild couple of weeks for AIG. On the upside, we captured some nice wins and now that it has started to cascade lower, the downside is offering nice profit chances. (click here to see the trades on AIG going up!) Now, for AIG going down... If you remember, I POUNDED THE TABLE hard on Friday with the stock in the low 50's, saying this was going lower. That turned out to be prescient, as the stock has dropped 35% in about 2 sessions! We bought OTM puts and punted some of them for big triple digit wins today:
September 01, 2009
09:08 | Bagger Vance AIG ($36.20) Sold to Close IKGUD Sep 30 put, at $2.40 +220%
09:05 | Bagger Vance AIG ($36.80) Sold to Close IKGUN Sep 40 calls, at $7.20 +194%
07:29 | Bagger Vance AIG ($41.80) Sold to Close IKGUN Sep 40 calls, at $4.70 +92%
Seems to be a deja vus moment: It was only a year ago that I called out AIG and LEH before their utter collapse. History rhymes! Below are some comments from the Trading Room on Tuesday Sept 1.
MyLady - September 1, 2009 6:38 AM
Good morning -
Will still stay with the AIG puts BV - thanks for the update
Zero Cred - September 1, 2009 8:24 AM
Hey FrostyMugs, I had AIG strangle at 43 puts/calls along with long Sep50s and Sep45s puts [hit tip to BV]
Frosty Muggs - September 1, 2009 8:38 AM
AIG Sept 30 puts - Out at $1.90 from $0.95 +100%
I'll take it here.
Thanks Bagger Vance.
Allan B - September 1, 2009 8:55 AM
AIG...congrats Frosty, BV, et all. nice...nice...nice... :-)
happydad - September 1, 2009 8:58 AM
Just got outta AIG with a Bagger, thanks BV!
HappyTrading - September 1, 2009 8:59 AM
AIG
took profits on 40 puts at $7. Thanks BV!
HappyTrading - September 1, 2009 9:05 AM
August 28, 2009
07:28 | Bagger Vance AIG ($54.00) Bought to Open IKGUN Sep 40 put, at $2.45
07:22 | Bagger Vance AIG ($54.20) Bought to Open IKGUD Sep 30 put, at $0.72
Great trades, BV!!
Quarryman - September 1, 2009 9:17 AM
OK out half my AIG position at 7.22 + 111%
Thanks, Bagger!
mylady - September 1, 2009 9:21 AM
Just sold my AIG puts - tks BV
habiby - September 1, 2009 12:56 PM
BV - thanks for AIG calls and put trades. I was in with you on both.
Sky - thanks for WFC put
foreman47 - September 1, 2009 12:53 PM
Great trade BV AIG 30s +149%. I'm a newbie reading your posts, very professional
AIG (click on the image to see it in full-view)
