Creative Cash Flow Reporting: Uncovering Sustainable by Charles W. Mulford, Eugene E. Comiskey

By Charles W. Mulford, Eugene E. Comiskey

Profitable method for deciding upon earnings-related reporting indiscretions

Creative money circulation Reporting and research capitalizes on present issues with deceptive monetary reporting on deceptive monetary reporting. It identifies the typical steps used to yield deceptive money circulate quantities, demonstrates how one can modify the money circulation assertion for more advantageous research, and the way to take advantage of adjusted working money circulate to discover profits which have been misreported utilizing competitive or fraudulent accounting practices.

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This can be achieved through a myriad of call and put combinations, and by adjusting the number of contracts bought or sold either in balance or on a rationed basis. I remember trading thousands of contracts an hour on the floor of the exchange and being forced into positions I did not want to be in. While this was happening, I had to be creative. I had to come up with ways to protect the bad position that I was being put in, while efficiently and quietly controlling risk. I frequently used nonstandard spreads and ratios, or looked for cheap options to buy if I needed to get long some or expensive options to sell if I needed to get short.

To get a more reliable signal, you can combine a low put-call ratio, decreasing volume in the SPY, DIA, QQQQ, or market as whole, and a low relative VIX (general implied volatility reading) if you are looking to identify an overbought, complacent market. Thus this takes the bearish contrarian stance or vice versa if the markets have been selling off. Finding Abnormalities Volume spikes in a security are often a telltale sign of an event. Usually there is a dramatic change in price during that spike, and that is the giveaway.

In the beginning, you may make money, but as you become more experienced, the same strategy could make you even more money (or lose less) because you have an educated eye for time value and volatility separate from what you see in the stock. Until that time comes, simply be aware of the time value and/or implied volatility that you are buying or selling and record it in your journal or screen captures to see what you could have done differently, if anything, to improve your trades. ■ 29 KEY POINT: An option will typically trade for its intrinsic value, plus an amount of time value.

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