Bac

Posted on a "for what it's worth" basis:

"JP Morgan May Take Over Bank Of America"

http://247wallst.com/2011/08/23/jp-morgan-may-take-over-bank-of-america/

"The word is that Treasury Secretary Geithner has discussed the transaction with JP Morgan CEO Jamie Dimon.The “merger” would completely destroy the value of BAC’s common shares."

 

Tempting to long it, but a 48+ PE @ $6.99 makes me a little queasy....not to mention all the other fun bits in its balance sheet and YTD - 5yr performance

 

blah, bought 350 Aug. 26 calls at $7 for .16, sold all the calls @ .23 avg., nice gain but won't push it, didn't run strong enough past $7

 

How much comission do you pay for that many calls?

 

It is the old story. you have to know when to hold them and when to fold them.

 

Good trade, but if ya had only held 'em a little longer...

 

$290ish each way...I dont like to think about it

 

Tell me about it...rage bought $7 puts at the open today, making up for it so far

 

"Fresh Scrutiny of BofA"

http://online.wsj.com/article/SB10001424053111903895904576542991664860896.html

U.S. regulators have pushed Bank of America Corp. to show what measures it could take if conditions worsen for the Charlotte, N.C., lender, according to people familiar with the situation.

"Fed asks BofA to list contingency plan: report"

http://www.reuters.com/article/2011/09/02/us-bofa-fed-idUSTRE7811EQ20110902

The Federal Reserve has asked Bank of America Corp to show what measures it could take if business conditions worsen, the Wall Street Journal said, citing people familiar with the situation.

"Fed asks B.of A. to provide contingency plan: WSJ"

http://www.marketwatch.com/story/fed-asks-bof-a-to-provide-contingency-plan-wsj-2011-09-02

 

All of that fed action is a lot of B.S.

BAC will just go running to Uncle Warren and ask for a hand-out.