Post
Topic
Board Auctions
Topic OP
WTB: ASICMiner PUT option contract
by
asnonmous
on 05/05/2013, 04:02:58 UTC
I would like to BUY ASICMiner PUT contracts, 5000 shares(Board seat).

Strike price:  1.15 BTC/share
Price: Negotiable, suggest 7%.
Length: 6-9 months, negotiable.

Here's how this works, subject to negotiation.  We'll sign a contract for the shares of ASICMiner.  At any point during the duration of the contract, I have the option of exercising the contract, and sell ASICMiner shares to you for 1.15 BTC each.

What you get: A significant number of ASICMiner shares or BTC, delivered immediately.
The BTC needed to complete the contract will be held in escrow, preferably with John K if he is ok with this.

If during the contract, ASICMiner is worth equal or more than the strike price(I.e., if I choose not to exercise the option), you get the BTC back, and you keep the btc/shares that you got up front, which should be significant.

If during the contract ASICMiner is worth less than the strike price(i.e., if I choose TO exercise the option), you get my AM shares and I get the BTC.  You still get to keep the btc/shares that you get up front.

I can prove ownership of the shares.

I would prefer to close this deal with a single participant, but I expect finding someone with that much BTC (5750 BTC) to sell me the contract is unlikely, so I can break it up.  No less than 500 shares though, to keep this manageable for the escrow.

Who would take this deal?  Someone who thinks ASICMiner will rise a bit or stay where it is over the duration of the contract.
Why am I doing this deal?  Because I have a pretty major proportion of my total investments in Asicminer, and I need to balance out this risk to stay sane.  I believe in Asicminer, and as a board member I have strong evidence that the company is working on a very strong long term plan, in addition to their internal goals of 50%+ reinvestment of dividends.  The most recent purchases by Friedcat (200TH/s on order, 10,000 USB miners on order, long term contracts for hundreds more TH/s) are indicative of these long term goals & planning.