I've been looking forward to this, because Tom Cruise seems to be having a good time, and he seems to be funny. That's kind of a nice change of pace, although he always seems to be having a good time, and he was very funny in Tropic of Thunder. Stock, however, has been tanking, down to H$82, from a high of H$136. The strike price is H$35, with the call at H$2. Yeah, that ain't gonna happen. The put is above H$5. There's some residual optimism in that call. The CX derivative also has some residual optimism, still above H$90. The Blockbuster Warrant IPOs tomorrow. Reviews on RT are middling at best, with 54% fresh, and the positive reviews lukewarm. I like Tom Cruise. He's one of the movie stars that I put in the "decent actor but amazing performer" category. I always feel like I am watching Tom Cruise - he doesn't disappear into the character. But he's usually at least interesting to watch. And I like Cameron Diaz. I'll probably see this in the theater. But in a summer where audiences are quickly getting tired of formulaic action movies, I don't see a lot of reason for optimism.
Stock: Short
Call: Short
Put: Long
CX: Short
Blockbuster Warrant: Short, when it IPOs tomorrow.
Update Sunday night: Yep, it bombed.$20 million over the weekend, plus $7 million on Wednesday and Thursday. Not looking good for Mr. Cruise. Good thing he took a pay cut - supposedly he was paid $11 million upfront, rather than his usual $20 million. Doesn't look like he is going to get much of a percentage of the gross, either. Oh well. I'll probably still see it in the theaters.
Update Sunday night: Yep, it bombed.$20 million over the weekend, plus $7 million on Wednesday and Thursday. Not looking good for Mr. Cruise. Good thing he took a pay cut - supposedly he was paid $11 million upfront, rather than his usual $20 million. Doesn't look like he is going to get much of a percentage of the gross, either. Oh well. I'll probably still see it in the theaters.
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