Monday, January 29, 2007

PAQN Reverse Split Arbitrage Trade Completed

As mentioned in the comments of this post, I finally received some of my round up shares from the PAQC / PAQN reverse split arbitrage play. I received 100 shares in my Scottrade account on Friday. I am told I should receive another 100 shares in my Schwab account today or tomorrow.

This morning, I sold the shares in my Scottrade account for $1.15 per share. If you recall, I purchased 30 shares at $0.30 each. My total cost was $16.05. I held the shares for 60 days, had them reduced to 1 share after the split, then received another 99 "round up" shares to bring me to a round lot of 100, and I received $107.99 from selling them. Total profit, including commissions on the buy and sell sides: $91.94. ROI: 573%. Annualized ROI: 3,485%.

Hopefully, I can do this again tomorrow in my Schwab account.


Anonymous said...

Did you get your Schwab roundups of PAQN?

Shaun said...

Not yet. I called them on Friday and didn't get any more info. Truthfully, I'm getting pissed at Schwab now.

Shaun said...

The round up shares finally appeared in my Schwab account this morning.

© 2006 Shaun | Site Feed | Back to top