No. of Recommendations: 7
Having lived through many periods when WEB did not buy back stock and probably should have, I don't think that he would repurchase even one share at less than a 10% discount to his own calculation of IV. If you agree with my assumption, the July purchases would indicate an IV calculation of at least $570,000. The slowing pace of buy backs may mean we are getting close to IV minus whatever WEB uses as his appropriate discount for repurchases (which may well be more than 10%).
