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If you can tell me how much money the government is going to plow into them and at what total cost, I'd take a stab at appraising their situation (on whether it
by adventured 7y ago
If you can tell me how much money the government is going to plow into them and at what total cost, I'd take a stab at appraising their situation (on whether it's a potential buy at some price).
It has certainly been demolished now.
A friend of mine that I've been exchanging emails about the market with on a daily basis for 20 years - we trade short calls back & forth when something looks interesting (I almost never short stocks; and very rarely use puts; so this is merely a market game between us). I slapped a short call on Boeing at $371, with a cover below $200. That was premised on it being ridiculous that they had held up so well for so long, despite the beating on the 737 Max. At that point I had no idea Covid was coming. So I thought maybe it was worth $150 or $175 with the Max mess (assuming some resolution there eventually). What is it worth now? Shit, who knows. Zero without a bailout is my guess, they're getting tag teamed like the oil market did. So what will the bailout look like. I do believe the government will bail them out, I think that's obvious; so next, then, is what will that look like, how onerous will it be.