Continual Fall of Viacom

About a year ago, some hedge fund got its margin called on their speculative bets on Viacom. This caused them to be forced to liquidate their huge position. The result was that Viacom stock fell from $100 to under $50. I thought that was a good time to load up on the stock. My dad was a believer in CBS.

Well the stock continued to fall. This month the stock was down at $25. If I liked it at $50, I absolutely loved it at $25. So I decided to purchase stock option contracts. I was better the thing would bounce up to $30 or $35. My expiration horizon was short.

The last quarterly earnings came and went. The stock did not rise much. My options essentially expired worthless. I gathered a lot more cash and doubled down. I purchased more short term stock options figuring a jump was right around the corner.

Unfortunately the overall market tanked these last few days, causing my options to effectively be worthless again. I swear. This thing has got to rise up sooner or later. I guess it will occur later when I am insolvent.