In a post a few months ago we took a look at the BAC class B warrants (BACWSB). I believe I said at the time, “don’t be a greedy bastard, sell Mortimer, sell”. Well… A few days ago the B warrants touched $1.01, down 70% from the close on 1/23/18. Let’s reverse the old buy […]
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So, it was either play the newest update on Fortnite all day, add additional content for my premium subscribers (don’t worry guys, doing that next) or write a post on Bank of America warrants. Since I stink at Fortnite anyhow…here we go. I’ve been asked by a few investors who hold BAC warrants what I […]
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I’ve traded BAC / BACWSA often since the warrants began trading. Sometimes I’m long warrants and short common, sometimes long warrants and short calls, and sometimes just long warrants. I’ve had an interest in the banks ever since I did a consulting gig at the FDIC helping them learn how to wind down large financial […]
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Continuing my percentage hedge in Bank of America common and warrants, this morning I re-shorted the 450 shares of common I covered yesterday. This trade was executed at $16.51. So I’m back to long 5,000 BACWSA and short 1,750 BAC common stock. I’ve also shorted 10 of the March 14, $16.50 call contracts at $.22. […]
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I’ve covered a portion of my BAC short from Friday. I’ve bought back 450 shares at 16.27. You can read the original post that began this trade here. Sharp moves like we see this morning are usually great opportunities to adjust a percentage hedge to either make a profit, or place the hedge in a […]
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