PAQN Reverse Split Arbitrage Trade Completed

As mentioned in the comments of this post, I finally received some of my round up shares from the PAQC / PAQN reverse split arbitrage play. I received 100 shares in my Scottrade account on Friday. I am told I should receive another 100 shares in my Schwab account today or tomorrow.

This morning, I sold the shares in my Scottrade account for $1.15 per share. If you recall, I purchased 30 shares at $0.30 each. My total cost was $16.05. I held the shares for 60 days, had them reduced to 1 share after the split, then received another 99 "round up" shares to bring me to a round lot of 100, and I received $107.99 from selling them. Total profit, including commissions on the buy and sell sides: $91.94. ROI: 573%. Annualized ROI: 3,485%.

Hopefully, I can do this again tomorrow in my Schwab account.


Post a Comment