First Republic Bank options, 1,600 vol

March 5 puts in FRC expiring tomorrow are .20 bid. Stock currently 33.

Not a recommendation, just an observation. This is over a 1,600 vol. Never seen this before.

 

Obviously HTB which drives up the px something stupid. Filled, tho. Anyone want to short a quarter and see?

 

Both Mar and Apr synthetics are priced at cash but none avail at TDA.

 

Just seems like a great play to sell them. Even if something bizarre happens, I would think the stock would be halted and the 5 options would have to be manually exercised, which makes it an even better play to sell them.

 

Short some more. I would absolutely not touch if shares were trading lower.

 

Thanks, Brother. Co receives corp-bailout and the 7.5s are 0.4 bid? Hit that like it's date night.

 

Nothing is final here. I am short 55 putas. Take wife to Bardot's for brunch.

 

Shares are up 4 handles since sp fill.

 

Ricola!

 

The deposits from the other banks is for a term of 120 days.