DontSlamTheDoor

GNK shipping swing/earings

Long
NYSE:GNK   Genco Shipping & Trading Limited
-Marine shipping taking a big hit today, bringing prices closer to big volume support levels. $SBLK and $ESEA and $NVM also on watch.

-Just taking a few FEB 22' $15c @ 3.30

See chart for PT's
Comment: GNK reported good results this quarter, also garnering attention to Genco Shipping was the article published in Forbes Magazine. The long calls did ok, but I rolled out to June. I see that earnings plus related news and a strong marine transportation sector are all driving this stock higher and if you paid attention to the shipping sector the last two years you know that these companies give massive capital returns on top of some dividends that are truly unheard of.

ZIM Zim Integrated Shipping paid out something like a $17.00 dividend, SBLK and a few others, KNOP, they are sending huge amounts of cash back to the investor! Whoo hoo!
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