$10 Billion Dollar Stock Buyback

BHP Biliton (BHP) just announced a $10 Billion Dollar stock buyback over the next 18 months!!! Thats on top of the $3 Billion previously announced. About 4 months ago I bought BBL. BHP also trades as BBL and BBL trades at a slight discount to BHP, making it cheaper to own blocks of 100. Since BBL closely follows BHP it doesn’t matter which one you buy. I’m up 8.5% since then and I think there’s still a long way to go.

Most of my holdings are oil & gas or commodity companies. I’ve also been selling naked puts sporadically on companies like STP and CRDN which have done pretty well. Well enough to offset my losses on WCI. Since I started shorting WCI in October its up about 30%.

Has anyone had luck consistently buying options instead of selling them???

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