I know you’re sick and tired of seeing all the PCG posts lately and it’s true it’s been trading sideways cause it’s manipulated as fuck. This is because institutions have a fiduciary responsibility to their clients and can’t risk buying in bigly before they legal confirmation that the exit is official. My theory is that once this is legally confirmed on Friday, we will see a moon (if you want to see an indication of the potential, look at what happened to the share price two Friday’s ago, when it spiked to $13.3 on news from Bloomberg that the debt deal was financed). This evening, Judge Montali submitted a written memo that says he will confirm the exit this Friday, at which point institutions will begin some serious buying. Get in before the rocket takes off.
Positions cause I know you guys only care about that. I already have some 11/10.5 credit spreads this week cause I have a small penis, but will plan to enter 11.5/11 put credit spreads for 6/26 expiry. If I buy 400 contracts I’m looking at around 12,000 max gain for 8000 max loss.
Here is the link to the memorandum if you want to read it: restructuring.primeclerk.com/pge/Home-DocketInfo
“The court intends to issue the OCP on Friday, June 19, 2020, after counsel for the Debtors has had an opportunity to revise it in accordance with any provisions of the Memorandum Decision and any developments occurring before then. To that end, it has scheduled a hearing on June 19, 2020, at 12:00 Noon to resolve any remaining disagreements about the form of the OCP.”
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.