Bausch plus Lomb Corporation (BLCO) Options

BLCO 10 Q due 2/19

The end of 2024 is near but the spin/sale of BLCO is not. lol Well Blackstone might have gotten cold feet and invested elsewhere which is fine as the offer was probably too low. Maybe it gets settled around the 3 year IPO mark in May but who knows. Only 1.08 million short and 10.3% inst owned. Market cap of 6.53 billion @ 18.55 a share.
BHC 7.65 and chart looking like a downer below the 20, 50 & 200 DMA's YIKES...

Good ER but stock dived down, bounced up and down again...Hit 13.64 and closed 13.74
So that golden cross might be off the table unless it pops tomorrow if BHC doesn't distribute in 2024...

Almost another year later and 88.7% of BLCO is still with BHC almost 2 years after the IPO just before the ER...
Currently BLCO is 14.79 with less than 5% short interest...10.5% Inst owned...
BHC is @ 8.71 72% inst/owned about 12% short interest...
Norwich lost in court recently and BHC had hit 11.46 a little before the verdict on a quick POP and it's been dropping ever since. Didn't break below the 200DMA of 8.30 but tested the 8.50's often...

BLCO @ 14.79 with ER next week...
200DMA 16.53
50DMA 15.89
Golden Cross may be heading our way...If the ER sends us up and BHC doesn't announce a distribution...

Good ER and more than a buck higher open it looks like. I sold too soon as always and also I sold a 100 calls so that's about 20,000 I would have gotten more had I held 1 day longer. Still got my 'core' of calls that are good til there end of the year but these results are really good. Stock should be fine moving forward until BHC shareholders get the BLCO shares and then it will probably sell off but recover and make new highs at some point. =)

Sold all 10,000 BLCO above 14.50 just a few cents higher than my cost after flipping so many times. Have good chunk of calls both ITM and not. Just felt I had WAY too much in one stock with all these M&A deals it seems like a 'top' is incoming. So as of now I'm about 20% in calls and 80% in cash... Was 15% cash and 85% invested this morning. Good luck tomorrow and the chart looks really good to run to 17's in the coming weeks as long as tomorrow doesn't surprise to the downside.

Yesterday BLCO hit 14.66. I sold a good chunk @ 14.50 even though I wanted to keep it but got it back today @14
Chart looking like a nice set up into and after earnings next week. We shall see but I've flipped enough times and lowered my average so I'm feeling good. If it tanks on news of BHC shareholders getting BLCO stock my BHC will rise/rocket and I can either hold that for the BLCO shares or trade them accordingly being I already have BLCO shares. Or buy the shares back into BHC and that works too. Stock too cheap down here under 15

Today BLCO made new 52 week low of 13.85 currently at 14 with BHC at 8....Something has changed between these two stocks. lol
I still think both are undervalued and stuck together. Needed to either give BHC shareholders the 80% BLCO shares or...Reverse Merge or buy back BLCO. At 14 for BLCO they could gobble it right back up and the spin at least let them pay down some debt when distressed the past year and a half.
BLCO at 14 feels like a spin of the 50.1% is coming this year but who knows...ER's should be this month and hopefully BOTH stocks rise up to new 52 week highs but you never know. lol

Today BLCO buys XIIDRA from NVS and makes new all time high of 21.95
BHC went up to 8.22 and closed at 8
So the future 'growth' will be the BLCO asset and getting 80% of the company in BHC shareholders hands. BHC is 7% short interest as BLCO is over 17 and stock is just above 20...
I think both are undervalued

1 year later not so much. lol Though 88.7% of BLCO is still with BHC over a year after the IPO...BS!
Currently about 18.50 for BLCO with 19% short interest and almost 13% Inst/own...
BHC I use to see under 10% short interest but I double taked when I saw 37.22% short interest (as of 5/31/23 and 66% Inst/own trading at 7.19 today. WTF?!? That's some SERIOUS Shorts...Also seems kind of fishy with the 5/17 judge ruling in BHC favor sending the stock from 6 to 9 in days...Only to have Norwich sue the FDA to overrule the courts news on 6/6/23 with the stock breaking below 8 the day before and then breaking below 7... I think a lawsuit and an investigation is in order.

Well now we will see what B&L can do away from BHC/VRX

BLCO$ Cross Eyed Mary

BLCO$