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Getting Burned By Apple On Earnings
Good deal Rocco. Here's another one for you. I sold two May covered calls. One at $600 strike and another at $620 before earning report. But after earning report, I didn't want to get them assigned away so the following morning, I bought them back for a $2900 lost. I am now completely out of options and ordered a book to learn more about options. Reading user comments on the article is also very helpful. FYI, I bought the $700 May contract not because I think it would reach that price by then. I bought it because it was cheap with the plan of making a quick buck when it price jumped and exit. I got caught up after earning report and treated the option like a stock thinking the profit from my option calls were "locked in". So the takeaway is, options are a great way to make money if you know what you're doing. Stay clear of them until you really have a good understanding of it. Hopefully I'll have better news to share in the coming months.
Apr 27 05:31 PM
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Rating the Top 12 U.S. Banks - From Hidden Gems to Zombies
"7. The Bank of New York Mellon Corp. (
) - Hidden Gem: New York Mellon has $237 billion in assets, mostly through its operations in New York and Pennsylvania. It received $3 billion in TARP funding. With closing price Friday at $25.26, Bank of New York Mellon was trading at 125% of its book value (the shares closed yesterday at $23.13, down 8.4%). The bank posted a fourth-quarter profit of $28 million, and net income of $1.39 billion for all of 2008. The fourth quarter was tough as for everybody, but Bank of New York Mellon appears to have no near-term need for funding."
I am going to ask a "stupid" question. Why did this bank receive TARP money if it managed to churn out $1.39 billion in income for 2008?
Feb 19 04:39 PM
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