Subject: Re: Annual report
Lately I've been estimating price trajectory by looking at possible future average P/B numbers of 1.37, 1.40, 1.45 and nominal growth rates of 1.5%, 2.0%, and 2.5% per quarter, just to get a cloud of reasonably plausible futures over the next couple of years. As a hobby I've been writing calls whose exit dates/prices are entirely above the cloud, and puts whose entry dates/prices are entirely below the cloud.

Jim, care to part the clouds and spill a few more details about that cloud range of yours?
It looks like prime put-selling weather out there, my own nebula whispers May or June around $440.
TIA