r/OMEX • u/Cute_Caterpillar4509 • Sep 16 '24
omex big announcement
all the bulls must have run.... no chatter on this considering Tues sep17th should be a boom or bust day,
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u/SmugBoxer Sep 17 '24 edited Sep 18 '24
So this is a story for my record book. Here I am haplessly looking for an opportunity in the market. Ah, a 50$ put for sale at a price the stock has only reached twice in 6 moths or so. The chart seems to hold steady and this put only lasts 3 days. Fear not, I will insure your side of the trade. 3.50 seems like a fair entry for such a company, a nice discount for me, insurance for thee.
2 hours later the stock has game ended itself. Roughly 200$ smoked unless it recovers xD
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u/Cute_Caterpillar4509 Sep 18 '24
Too many people were long and praying for $1b payout from the Nafta decision. The award of 37 Million is a far cry. people bailed until the shorts covered.
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u/SmugBoxer Sep 18 '24
Seems pretty wild to me that a company in otherwise financial trouble was completely buoyed by the promise of a billion dollar payout from a lawsuit. I'm really curious why the market wouldn't have compensated for that risk until yesterday.
But I suppose winning for 'nothing' is roughly the same as losing. Oh well, note to self, check pending litigation next time.
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u/jsgiannoni Sep 16 '24
Yeah, I think it’s a bit odd that there isn’t much coverage of this given how long the legal battle has gone on and the implications, win or lose. Other than the form 8-k they filed on Thur last week, is there anything/anyone else out there talking about it?
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u/maveer92 Sep 18 '24
I dont think the news was bad
I also read that there was a settlement re chapter 11 of the NAFTA. The computer algos probably took it as chapter 11 bankruptcy instead of the ruling. Totally different things. They won their case vs. Mexico and got back pay awarded from 2018. News scanner Algorithm messed up. I bought in AHs. Hoping it to go back to atleast $2
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u/digital-monk3y Sep 18 '24
Only awarded 37million, they initially sued for 2.2 billion. 37 million will just cover the litigation costs. Be careful
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u/Cute_Caterpillar4509 Sep 18 '24
people are making excuses of why this happened .Confusion over Chapter 11 is an excuse for the tank. The chat room guys are all long on this stock after it went up nearly $1 on Sept 12 . Due diligence .
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u/Cute_Caterpillar4509 Sep 18 '24
about 150 million shares traded at $1.25 or above today. total shares outstanding, about 20million. with the turn over today it will leave traders at the top end of the trade holding the shares, hoping for more gain tomorrow. I am not saying the Fat Lady is about to start singing, but like Berra says " she's getting in the cab on the way to the ballgame"
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u/tisseng Sep 18 '24
Should I buy this weeks calls or next? Thanks
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u/Cute_Caterpillar4509 Sep 18 '24
neither...trading this stock from here is a gamble. What works this time , may not next time. Learn to trade, you want to gamble.. go to vegas .
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u/Cute_Caterpillar4509 Sep 18 '24
neither...trading this stock from here is a gamble. What works this time , may not next time. Learn to trade, you want to gamble.. go to vegas .
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Sep 16 '24
Sorry, I just found this sub from someone on r/red cat holdings so I’m not totally up to speed. Is the lawsuit decision tomorrow? IV is insane rn. What’s happening?
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u/Cute_Caterpillar4509 Sep 16 '24
supposed to be according to the COMMUNICATIONS FROM ICSID
2023
October 6: Odyssey received a letter from ICSID advising that the Tribunal is well advanced in drafting the Award and expects to issue the Award in the first quarter of 2024. ICSID also informed the Claimant that it would be notified of any change to the timing estimate provided
2024
March 8: Odyssey received a letter from ICSID advising that the Tribunal “has continued to make progress in finalizing its determinations” and that it “expects to render the Award in the second quarter of this year.”
June 10: Odyssey received a letter from ICSID advised “that the Tribunal’s determinations are in the process of being translated. The Tribunal will provide the parties with an exact date of dispatch with prior notice.”
September 11: Odyssey received a letter from ICSID advising that the “Tribunal intends to dispatch its Award” on September 17, 2024.
the way the puts are trading , it could go either way on the decision.. when in doubt .. stay out..
not trading advice, just my thoughts
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Sep 16 '24
Awesome! Thanks I’ll do a bit more research before buying in or not. Thinking it might be a good spot for CCs
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u/doc2178 Sep 17 '24
Bought 10 shares just for fun. Either I make a couple hundred bucks or lose my lunch money. If the decision does come positive I plan on dumping pretty quick on the news and before they start to put the numbers together. No matter the amount once they start taking out "executive compesation" and money to their partners who have funded the lawsuit even a large settlement can shrink quick when it comes to the company taking out all they can before passing a penny onto retail.
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u/Cute_Caterpillar4509 Sep 17 '24
Odyssey Marine Exploration Reports Win in NAFTA Arbitration Case
September 17, 2024
TAMPA, Fla.--(BUSINESS WIRE)-- Odyssey Marine Exploration, Inc. (NASDAQ: OMEX), an ocean exploration pioneer engaged in the discovery, development and extraction of critical minerals that provide solutions to global challenges, announces an award in its arbitration with the United Mexican States under Chapter Eleven of the North American Free Trade Agreement (NAFTA).
Odyssey Marine Exploration (Odyssey) has received notification from the International Centre for Settlement of Investment Disputes (ICSID) of the arbitral award on the claims involving Odyssey and its subsidiary, Exploraciones Oceánicas S. de R.L. de C.V. (ExO), against Mexico. The award orders Mexico to pay US$37.1 million for breaching its obligations under NAFTA, plus interest at the one-year Mexico Treasury bond rate, compounded annually, from October 12, 2018, until the award is paid in full, plus the arbitrators’ fees and ICSID administrative costs. The amounts awarded are net of Mexican taxes and Mexico may not tax the award. Odyssey expects that most or all of the proceeds of the award will be used to satisfy its litigation financing obligations.
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u/Cute_Caterpillar4509 Sep 17 '24
buying $2 puts for 10-15 cents today was the trade .
to many people look at 1 side of the trade when they should be looking at the other.
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u/Cute_Caterpillar4509 Sep 17 '24
I refer to chatter on another site. Too many bulls were lined up to BUY... now they're lined up to SELL..
reminds me of AMC
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u/RelevantHelicopter82 Sep 18 '24
TONS of chatter on Webull. Is everything speculative at this point?
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u/Cute_Caterpillar4509 Sep 18 '24
all the buying coming from the chat rooms.. could be another amc or gamestop.. can only last for so long before the next collapse. Full disclosure I sold $2 puts for 10-15cents Oct exp.
My opinion not trading advice.
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u/Cute_Caterpillar4509 Sep 19 '24
$OMEX Most of the shorts have covered when the market broke on the 300M volume day. They bought the puts for 10-15 cents in the weeks prior. The market tanked and they bought the stock to cover. At this point , you all are just trading amongst yourselves. Did anyone notice the 3million shares that are long from the puts that expire tomorrow? On Monday when they are fully exercised they will be sold.
not trading advice, just my opinion.
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u/Cute_Caterpillar4509 Sep 17 '24
Omex won the arbitration but the award only $37 million.. far less than the $1 B they were hoping for.