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Message
re: First Republic Bank about to go under; government takeover imminent
Posted on 4/27/23 at 8:14 pm to thelawnwranglers
Posted on 4/27/23 at 8:14 pm to thelawnwranglers
Weren’t you in SCHW with me? What made you double down on FRC instead of buying more Schwab? (that was you, right?)
1
Posted on 4/27/23 at 8:36 pm to Jag_Warrior
quote:
Weren’t you in SCHW with me? What made you double down on FRC instead of buying more Schwab? (that was you, right?)
Yep still in schw -460 shs - still have more SCHW (double down on FRC was $6k Vs $23k for schw position)
I am actually kind of concerned on FRC double down (bc I am just dumbly gambling). I should have run scared but said f it and doubled down. All the they are trapped noise doesn't feel accurate. They just had their earnings call there should have been going concern no? The uninsured $30b from big banks. Why would they do it if there was real risk. At worst FRC needs to right size balance sheet no? I don't politically how can they let this bust out. I got this way with RKT 2 years ago. Was down and just got keep buying. Had a huge pop to $40 cashed in my chips.
Seems like it is going $0 or worth more than $6
Are you doing options on your schw seems like I could cover calls make some money I don't know
This post was edited on 4/27/23 at 8:51 pm
Posted on 4/27/23 at 10:20 pm to thelawnwranglers
quote:
Are you doing options on your schw seems like I could cover calls make some money I don't know
Implied vol has dropped off a good bit on SCHW, but it’s still around 44%. So you can make some decent money selling covered calls. I’m not selling calls, but I am still selling cash covered puts in an IRA account. I’m willing to take on more shares and have this one as a long term hold. Div at 2% isn’t great, but it’s not horrible either.
Posted on 4/27/23 at 10:52 pm to Jag_Warrior
quote:
selling cash covered puts
If it is exercised do you just have to have cash available or they let you free it up?
Posted on 4/27/23 at 11:22 pm to thelawnwranglers
If you’re doing it in an IRA or other tax advantaged account (I trade covered calls, cash secured puts and various spread strategies in my brokerage held HSA too), it has to be available when you place the short option trade. A cash account, I’m not sure about. In a regular margin account, you could make the trade as long as you have enough “buying power” (or whatever your brokerage calls it).
Posted on 4/28/23 at 9:41 am to Jag_Warrior
$4.75 a share do I take this L or hold Gina Davis hand and fly over the cliff
Posted on 4/28/23 at 10:07 am to thelawnwranglers
I would get out if i had the chance but thats just my opinion. I bought on friday afternoon when Signature bank failed so Monday came and by then the FDIC had taken over on the weekend. Monday came and i was a lifetime holder of Sig Bank shares 
Could see the same thing with this one over the weekend but again it's your money. Your choice.
Could see the same thing with this one over the weekend but again it's your money. Your choice.This post was edited on 4/28/23 at 10:09 am
Posted on 4/28/23 at 10:08 am to KCRoyalBlue
Let's get a businessman that doesn't go bankrupt so often.
Posted on 4/28/23 at 10:18 am to FLObserver
quote:
Monday came and i was a lifetime holder of Sig Bank shares
Lol can I get the shares printed and wear them as shame ribbons
Posted on 4/28/23 at 10:48 am to thelawnwranglers
I am out
I am on tilt - I sold my whole account. All cash
I am on tilt - I sold my whole account. All cash
Posted on 4/28/23 at 11:05 am to thelawnwranglers
You mean you dumped your SCHW too?
Posted on 4/28/23 at 11:06 am to Jag_Warrior
quote:
You mean you dumped your SCHW too?
Yep - I don't think it was smart just done for a beat
Sinking in August Treasuries which means default is guaranteed
Posted on 4/28/23 at 11:29 am to thelawnwranglers
I’m sure that FRC play hit you hard. And easier said than done, but don’t let it get you down. Your emotions got to you (not wanting to accept that initial loss and chasing it for break even or profit). So don’t let that one bad trade put a cloud over you. Chin up, my man. 
Posted on 4/28/23 at 11:31 am to Jag_Warrior
quote:
I’m sure that FRC play hit you hard. And easier said than done, but don’t let it get you down. Your emotions got to you (not wanting to accept that initial loss and chasing it for break even or profit). So don’t let that one bad trade put a cloud over you. Chin up, my man.
Thanks
It's my retirement and gambling a little too much. I need a better strategy and hey 5% right now is 5%
I know I could miss upside but I really don't think I will
Posted on 4/28/23 at 12:12 pm to thelawnwranglers
Yeah no shame in rolling the dice every now and then . i bought Sig bank on a friday afternoon . i owned it all of a day . FDIC swooped in over the weekend and i didnt even have the chance to sell. That's my kind of luck.
Posted on 4/28/23 at 12:28 pm to FLObserver
quote:
FLObserver
I think you are right just too much smoke and risk heading into the weekend
Also seems like some of the data released today fed can back off rates so that will only make FRC problems worse.
If Biden team is involved they will actively look to wipe out shareholders in my humble opinion
Posted on 4/28/23 at 12:38 pm to thelawnwranglers
quote:
If Biden team is involved they will actively look to wipe out shareholders in my humble opinion
Totally agree. If they make it past the day i dont see them getting past this weekend. If i was a shareholder would not take that chance after what happen to the other banks a few months ago.
Posted on 4/28/23 at 12:47 pm to FLObserver
(no message)
This post was edited on 2/1/24 at 7:21 pm
Posted on 4/28/23 at 1:13 pm to lsuconnman
quote:
I don’t understand how it survived this long? Given the average customer balance is 10x the FDIC limit…any choice but withdrawal is totally reckless.
Yeah seems like it should be more straight forward. That said seems like it wouldn't be to hard to spoke this into solvency issues.
My mother in law has an account because that is who her investment guys are with and I think her her trades settle there or is her cash account. Her cash is under $250k I believe but the investment advisor angle might be keeping investment sticky
That is why I thought the could survive, but I am out.
Current Admin will protect these millionaires at the cost of shareholders because it plays they are protecting the everyman
This post was edited on 4/28/23 at 1:15 pm
Posted on 4/28/23 at 3:42 pm to thelawnwranglers
$1.94 afterhours
If this implodes I feel like it should hit the market harder than it looks like it will
If this implodes I feel like it should hit the market harder than it looks like it will
This post was edited on 4/28/23 at 3:46 pm
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