Official Spac Thread

[RobParks2M]

^ bulletproof strategy.

Regretting buying in yesterday. I'm getting absolutely demolished on all warrants but particularly IPOFW and ALTUW.

send help

I got lucky. My PTICU sold for what I bought them for so it freed me up to average down a lot. Almost sold everything not a SPAC to go all in!

[Heaney]

IPOFW

send help

#gang

[cullenmichael34]

Did the math and I can only drop another $4300 till I hit $10 on EVERYTHING including FTOC (not including the gains I'd have from the covered calls). So another 6% loss possible if everything went to NAV.

I'm a broke boi but what are you planning for with FTOC? It's been dropping for a bit now and idk what to think about it.

Any thoughts on SRNGU?

[RoyalRyy]

Nobody trying to hold over the weekend. I'm expecting another bloody day tomorrow.

[RobParks2M]

I'm a broke boi but what are you planning for with FTOC? It's been dropping for a bit now and idk what to think about it.

Any thoughts on SRNGU?

I thought it was going to march up closer to highs current high of $14.5 or so....

Now I’m just waiting for my cc to expire

[Harry362]

CCIV man.... CCIV WHY!!!!!!

Whts wrong?

[NoScrubz]

Whts wrong?

I'm holding a call spread and need it to be at $35.00 by March 19. Didn't expect it to dump this hard. I opened the position with profits from selling CCIV shares so no real loss but still sucks if I doesn't hit lol

[chino3]

This is what I am doing currently, and will probably continue to do until something makes better sense:

Original position of CCIV
-2.5k shares @ $24
-3/19 $45cc @ $6.5 x25
-Closed out 15 of the CC's @ $1.4
-Opened 3/5 $35cc @ $1.5 x15

Basically going to let 1k shares ride out (at the very least through the expiration of the 3/19 CC)
Remaining 1.5k shares I am going to sell weeklies on for as long as premiums are juicy, get called away, or it just moons and I stop selling calls altogether.

[SazabiBrah]

Anyone in SRNGU? Run by same company that brought DraftKingz to market. Lots of capital and close to NAV

[RobParks2M]

Anyone in SRNGU? Run by same company that brought DraftKingz to market. Lots of capital and close to NAV

Saw that annoying dude on reddit/spac page went all in on that at 10.80. He bought 5 million worth

[SazabiBrah]

Saw that annoying dude on reddit/spac page went all in on that at 10.80. He bought 5 million worth

haha yeah that's where I first heard of it too

[adamsz]

Anyone in SRNGU? Run by same company that brought DraftKingz to market. Lots of capital and close to NAV

yes, I posted about it a few pages back

got 1000 shares of it

[SazabiBrah]

2 more brand new SPACs ran by Bill Foley! AUS and ASZ. Both right above NAV

[MountainLion84]

Added more SWBK.U today

[RobParks2M]

Anyone think we've reached the bottom?

I'm about 3-5% from the bottom mostly so yeah


Ran some math just now and whoever asked me about my FTOC position here it is:

1500 shares -$12.69 is my average cost- I bought/sold a lot which drove my average cost up a lot.

Sold 3 March 19th CC at 12.5 for $70/each
Sold 3 April 16th CC at 12.5 for $90/each
Sold 6 May 21 CC at 17.5 for $150/each

At the moment my plan is to hold at least till merger and my $10 floor is gone. I'll either sell at $10 or redeem my trust $$$ if it somehow falls below that prior. On the flip side if I had to guess best case scenario going the other way my assumption is March 12.5 are expiring worthless or very slightly ITM. April calls hopefully get assigned which means shares are chilling at $13.4 or more. May CC are like 95% certain to expire worthless but I will be happy as fuk to be wrong on that one.

Max loss if shares drop to $10 is $2600 thanks to the CC.
Hoping to see closer to $3,000 profits based on ^above estimations by April.

[RobParks2M]

Sitting on 2k cvii.u did I dun goof

Did you get in closer to $11? Might have goofed not selling Monday after CCIV shyt the bed. Now ya just gotta wait for the split I suppose

[adamsz]

Did you get in closer to $11? Might have goofed not selling Monday after CCIV shyt the bed. Now ya just gotta wait for the split I suppose

here's the thing tho IMO - CCIV's stock price might have chit the bed, but CCIV itself? It came through and got the deal done, which in the end is what a spac is supposed to do.

So how will that affect the next one? hard to say at this point.

I'm sitting on 2k shares myself. Gonna sell off half when it's in the green to open up some cash for other plays.

[RobParks2M]

here's the thing tho IMO - CCIV's stock price might have chit the bed, but CCIV itself? It came through and got the deal done, which in the end is what a spac is supposed to do.

So how will that affect the next one? hard to say at this point.

I'm sitting on 2k shares myself. Gonna sell off half when it's in the green to open up some cash for other plays.

It'll be fine overall, I meant cuz CCIV tanked the entire SPAC market. I sold mine just to free up money for closer to NAV plays that will hopefully announce sooner. Klein probably gonna be tied up with Lucid for quite some time and the units have 2 months to split.

[Harry362]

here's the thing tho IMO - CCIV's stock price might have chit the bed, but CCIV itself? It came through and got the deal done, which in the end is what a spac is supposed to do.

So how will that affect the next one? hard to say at this point.

I'm sitting on 2k shares myself. Gonna sell off half when it's in the green to open up some cash for other plays.

CCIV price didnt really **** the bed, $10-30 in a month is pretty crazy

Im keeping my 1000 shares and selling weeklies against them 2k a week for the $35ccs

[adamsz]

I'm relieved I didn't lose more today. Seems to be stabilizing or slowly rebounding. Watching things slowly bleed though is maddening

I remember spac market doing same thing twice in the last 6 months, so it's made me not get too freaked out since they all eventually recovered. Just took some time. Obviously the past isn't always going to be a predictor of the future, but it least kept me from getting too anxious.

[Heaney]

I remember spac market doing same thing twice in the last 6 months, so it's made me not get too freaked out since they all eventually recovered. Just took some time. Obviously the past isn't always going to be a predictor of the future, but it least kept me from getting too anxious.

This. Didn't even phase me this week, compared to September I remember being stressed about red.

[Heaney]

GRAF gang......what an absolute shietshow Velodyne turned out to be. Anyone keeping up with the David Hall getting kicked out of the company stuff? Dude owns like 55% of the outstanding float, could single handedly tank them.

[Harry362]

https://www.businesswire.com/news/ho...ublic-Warrants

Desktop Metals (DM) Former SPAC offering warrant redemption on 3/14. How bad is this for the stock price and outlook? This will dilute the shares out right? I have 500 shares at $22.42/share (currently down $1177, selling 25ccs for 3/19 around $400). I was going to hold this for long as an investment but do you guys think It would be smart to dump and wait for warrant redemption? How has this redemption historically affected post merger SPAC prices?


Also looking at AONE spac. Currently $12.75 down a little bringing another 3d printing company public, Markforged


https://www.youtube.com/watch?v=x0YCc_RQqYw&t=11s

Markforged is similar to DM and closer to NAV, looking into maybe switching my 3d printing investment into this one.


My haircut this week wasn't all that bad, I am still holding all my stuff. Just did the math and added up some longer dated covered calls May-July on all my positions and I could collect $23,000 premiums on them pretty far above their current share price.

[RobParks2M]

Did some thinking at the gym yesterday and honestly everything occurring in regular markets should be good for SPACs I would think.

1. Rate raise---money more expensive to borrow
A. Less SPACs are raised as no one wants to underwrite since they'll get better rates elsewhere
B. Less SPACs = less competition(between spacs)= better companies taken public at better valuations for investors
C. Companies are more likely to consider going public via SPAC because borrowing money isn't a good option and fundraising is more difficult
D. Rate hikes makes growth less appealing and value more important. Money will flow out from tech and a safer landing spot for it will be near NAV SPACs.

2. Retail finally figures out IPO companies aren't their friend.

3. SPACs are still relatively unknown. using Reddit as a baseline WSB had 1 million members before the whole GME thing. Now its at 3 million. SPAC sub has 150k currently and was about 80k when I started looking at it back in December. What happens if/when 1 million+ people start trying to get into SPACs? I've got 5 friends that are kinda into trading/investing IRL. I've told them all about the SPAC companies I had been buying and the gains I was making...and yet ZERO interest from them. I figure when they or others start asking me about it will be the time to start backing out. Right now I think we are one big FOMO-inducing deal away from roaring 20s mode getting flipped back on.

[PlateauTooSoon]

https://www.businesswire.com/news/ho...ublic-Warrants

Desktop Metals (DM) Former SPAC offering warrant redemption on 3/14. How bad is this for the stock price and outlook? This will dilute the shares out right? I have 500 shares at $22.42/share (currently down $1177, selling 25ccs for 3/19 around $400). I was going to hold this for long as an investment but do you guys think It would be smart to dump and wait for warrant redemption? How has this redemption historically affected post merger SPAC prices?


Also looking at AONE spac. Currently $12.75 down a little bringing another 3d printing company public, Markforged


https://www.youtube.com/watch?v=x0YCc_RQqYw&t=11s

Markforged is similar to DM and closer to NAV, looking into maybe switching my 3d printing investment into this one.


My haircut this week wasn't all that bad, I am still holding all my stuff. Just did the math and added up some longer dated covered calls May-July on all my positions and I could collect $23,000 premiums on them pretty far above their current share price.

Was getting sold on that video until the co-founder with the PURPLE hair and blazer showed up. Lmao

[Heaney]

Another warrantless spac just got filed, Tortoise III. Commons only like BTWN II.

[RobParks2M]

Another warrantless spac just got filed, Tortoise III. Commons only like BTWN II.

Seems odd. Do you think this will boost the value of current warrants?

[Heaney]

Seems odd. Do you think this will boost the value of current warrants?

Likely will, we've seen the same thing happen since other companies have shifted to 1:4 and 1:5 ratios. Helps out post merger pricing too as it eliminates a ton of dilution down the road.

[RobParks2M]

Likely will, we've seen the same thing happen since other companies have shifted to 1:4 and 1:5 ratios. Helps out post merger pricing too as it eliminates a ton of dilution down the road.

I like cashless redemption better tbh. 1/3 ratio then cashless redemption brings dilution from 33% to 11% which is kinda nice.

[Heaney]

I like cashless redemption better tbh. 1/3 ratio then cashless redemption brings dilution from 33% to 11% which is kinda nice.

Will be interesting to see which way the serial spac-ers go in regards to warrants (Gores/Social Capital/Churchill).