For those who are on the FMI train, what are your plans for today? Many of us have calls expiring today. I have $47.50, $50.00, $52.50, and $75.00 strikes. I plan to take assignment of shares; would rather not put additional money into a roll.

Still being a young guy, with a smaller self-managed portfolio, I sold my ITM $60 call today…maybe earlier in the day than I should have. I still have some $70’s expiring today that I’ll need to keep an eye on to see if they get into the money today.

I also still have positions with the Feb. $70 and August $75 strikes, so not selling the $60 for the intraday max is noy something I should let myself feel too much FOMO about. That definitely falls into “market timing” territory.

Still anemic volume on the day, only a bit more than 21,000 shares-worth as of 11:15 am. Really low volume yesterday (under 90,000 shares) and quite small on Wednesday too (under 172,000). 10-day average is >280,000 shares.

If a few big buyers got a hankering, this one could go up quite quickly.

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I only own the common in FMI. As I stated earlier FMI has filed for a shelf offering of undisclosed amount of shares. I am waiting for the secondary to fill out my position. Secondaries typically put downward pressure on a stock although on the day of the secondary you can readily see how much demand there is for the company if the price recovers and sometimes even rallies to green.



When is the second offering for FMI?

FMI filed on December 22nd for a mixed shelf offering, size or timing not disclosed.

If I see a secondary announced I will post to the board.


The end of day volume spike for FMI seems a bit promising for the longer term, even if my $70 strikes ended up being worthless.

In the last 15 minutes the volume was over 39,000 compared to the full day volume of about 152,000 (over 66,000 in the last hour of the day).

Sometime over the weekend, I may see if I can dig a little and find out if there is any veracity to the guy on StockTwits recalling that Roche could be able to make another full buyout offer in April sometime. I should also look into that December 22nd filing about a shelf offering.