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Post by jimbering on Jul 20, 2015 14:15:42 GMT -5
two questions for anyone here more brokerage informed than I: 1. Clarify - lending of your MNKD shares typically happens without knowledge/consent if your MNKD position is margin with balance - or - your account is enabled for margin in general, just not your MNKD position (yes thank goodness I thought better than going on margin on volatile biotech). ? 2. Anyone here familiar with what # shares are needed by fidelity to offer you to loan and pay interest on shares ? On 2, I've been holding the line for a while on not feeding shorts, but sure -my relatively small position is not likely to move this needle and if this goes on for a few more years some relief may be needed ..... With Fidelity you need to have $250,000 overall with Fidelity or at least $100,000 in the stock to be loaned.
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Post by BlueCat on Jul 22, 2015 0:51:24 GMT -5
Thanks to all!
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Post by beardawg on Jul 22, 2015 17:24:31 GMT -5
two questions for anyone here more brokerage informed than I: 1. Clarify - lending of your MNKD shares typically happens without knowledge/consent if your MNKD position is margin with balance - or - your account is enabled for margin in general, just not your MNKD position (yes thank goodness I thought better than going on margin on volatile biotech). ? 2. Anyone here familiar with what # shares are needed by fidelity to offer you to loan and pay interest on shares ? On 2, I've been holding the line for a while on not feeding shorts, but sure -my relatively small position is not likely to move this needle and if this goes on for a few more years some relief may be needed ..... With Fidelity you need to have $250,000 overall with Fidelity or at least $100,000 in the stock to be loaned. What about Schwab?
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Post by dreamboatcruise on Jul 22, 2015 19:03:08 GMT -5
Schwab has no stated minimum. They just pay lower interest rate. It appears they aren't quite as quick to return shares. Once mine were taken to lend out I haven't had any come back.
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Post by achipandachair on Jul 22, 2015 19:11:59 GMT -5
Is there a way to transfer the shares I hold in E-Trade to Fidelity without triggering a taxable event? I have both a regular brokerage account and a ROTH with E-Trade. I'd like to start taking advantage of the interest being paid at Fidelity.
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Post by dreamboatcruise on Jul 22, 2015 19:42:26 GMT -5
Is there a way to transfer the shares I hold in E-Trade to Fidelity without triggering a taxable event? I have both a regular brokerage account and a ROTH with E-Trade. I'd like to start taking advantage of the interest being paid at Fidelity. Yes, you can fill out forms to submit with the new broker so that they can transfer over the entire accounts (or just particular shares). The shares aren't sold so no issue with taxable even. The shares disappear from the old broker and reappear at the new one in a day or so.
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Post by papihoyos on Jul 23, 2015 6:37:28 GMT -5
Fidelity rate reduced to 18%
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Post by kball on Jul 23, 2015 7:19:04 GMT -5
Fidelity rate reduced to 18% If it wasn't for 32% last month, 18 would look even better. Still, I'm taking it. FWIW, i emailed Bruce over at fidelity capital markets to get an opinion if the smart money was on the other side. No response--*gulp*
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Post by chicagpete on Jul 27, 2015 9:23:10 GMT -5
Schwab lending rates down from 16 to 14 percent this morning
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Post by petech on Jul 28, 2015 8:10:31 GMT -5
Fidelity dropped to 16.5% from 18% as of yesterday. Here is the fidelity rate movement (to us, the lenders):
Start on 6/15:
6/15 32.75% 6/16 27.25% 6/17 22.50% 7/8 20.75% 7/14 19.25% 7/21 18.00% 7/27 16.50%
My hypothesis: demand is weakening on the short side. While I would like to believe that we skyrocket soon; I think more likely shorts use "disappointing" earnings to cover and go long. We'll see how my theory plays out.
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Post by Deleted on Jul 28, 2015 8:24:46 GMT -5
Suckers who loaned out their shares at 20% per year (0.05% per day) saw the shares decline by more than 10 times that amount. Shorts don't pay those big fees for nothing. I will stay out of MNKD as long as this share loaning to manipulative shorts stops.
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Post by Deleted on Jul 28, 2015 8:25:25 GMT -5
That is, until it stops.
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Post by tmann on Jul 28, 2015 10:32:07 GMT -5
If they needed to actually borrow the shares your position would be more pragmatic. Since they can and do counterfeit them it, whether you lend them or not won't make much difference. I don't lend mine, but I would consider it, at least, in an honest market.
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Post by noonen on Jul 28, 2015 13:05:54 GMT -5
Suckers who loaned out their shares at 20% per year (0.05% per day) saw the shares decline by more than 10 times that amount. Shorts don't pay those big fees for nothing. I will stay out of MNKD as long as this share loaning to manipulative shorts stops. You mean sucka traders taking that loss in a couple months? Fine. But the long who has a long time horizon (years) that lends some shares out to ease the burn bc he/she isn't selling anytime soon anyway? don't think so. How many shares do people really think that retail share lenders are responsible for? 5 million? 30 million? Swag I'd say it's much much closer to the former if not lower. But who knows. If those accts are on margin the brokers are doing it anyway. Retail is not controlling this stock. At all. We may be suckas for picking a bad investment. But I don't think so. As many have said story hasn't changed. But I just dot buy the argument that retail longs are even a blip on the lending side of all this.
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Post by dreamboatcruise on Jul 28, 2015 16:32:16 GMT -5
Suckers who loaned out their shares at 20% per year (0.05% per day) saw the shares decline by more than 10 times that amount. Shorts don't pay those big fees for nothing. I will stay out of MNKD as long as this share loaning to manipulative shorts stops. What about a long that recently freed up some investment capital and cleverly loans out his existing shares in order to help shorts manipulate the price down so that he can purchase more shares at artificially low price. I like this idea that little old me can be a crafty market manipulator. Wow, I feel powerful.
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