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Post by brentie on Feb 4, 2015 17:34:38 GMT -5
For anybody interested, Fidelity just raised the rate that they pay for borrowed MNKD shares to 12% from 10 1/2%. It appears the shorts aren't going away.
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Post by babaoriley on Feb 4, 2015 18:43:06 GMT -5
Any nice rise in the price of the stock will carry with it more shorters, at least until we can show quarter over quarter growth. By the way, the price action has been such as to possibly lull a few people into some sense of security. Pride (or in this case, a secure feeling) goeth before the fall! Everyone - feel uneasy! Market karma demands it!
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Post by joeypotsandpans on Feb 4, 2015 19:50:15 GMT -5
For anybody interested, Fidelity just raised the rate that they pay for borrowed MNKD shares to 12% from 10 1/2%. It appears the shorts aren't going away. Just wait until they get to Guido's rate for cost to carry....oh wait I forgot, that's what they're paying out...they're (the Guido houses) are charging closer to 18-22% already
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Post by jpg on Feb 4, 2015 19:57:52 GMT -5
For anybody interested, Fidelity just raised the rate that they pay for borrowed MNKD shares to 12% from 10 1/2%. It appears the shorts aren't going away. Just wait until they get to Guido's rate for cost to carry....oh wait I forgot, that's what they're paying out...they're (the Guido houses) are charging closer to 18-22% already The shorts are paying 18%-22% to short? Really? That is a lot of $. As you point out that must be a very uncomfortable position to be in... What do we know of the naked shorts? How do they get away with not paying anything (and breaking a few laws)?
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Post by mannmade on Feb 5, 2015 0:48:42 GMT -5
StreetInsider.com
MannKind (MNKD) Shorts Squeezed
February 4, 2015 2:31 PM EST Send to a Friend Get Alerts MNKD Hot Sheet Price: $6.81 +4.77%
Overall Analyst Rating: NEUTRAL (= Flat)
EPS Growth %: +47.1% Trade MNKD Now!
Join SI Premium – FREE MannKind (NASDAQ: MNKD) shorts were squeezed Wednesday as the stock continued to advance, adding 5% to recent gains intraday on the heals of its Afrezza launch.
Short interest in MannKind is 76.9 million shares, or about 31% of the float. Days to cover is 17, according to Nasdaq data from Jan. 15.
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Post by papihoyos on Feb 5, 2015 8:16:11 GMT -5
What is the rate to borrow shares applied too? The closing price each day?
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Post by brentie on Feb 5, 2015 9:20:13 GMT -5
What is the rate to borrow shares applied too? The closing price each day? Yes, it changes everyday with the share price.
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Post by ashiwi on Feb 5, 2015 10:23:11 GMT -5
The borrowers (shorts) are paying 18.25%. Loan shark rates.
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Post by otherottawaguy on Feb 5, 2015 10:27:13 GMT -5
Still cheaper than the morally criminal rates the credit card companies are fisting upon us.
OOG
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Post by 4allthemarbles on Feb 5, 2015 13:06:11 GMT -5
At what point do they see the rates as to expensive- meanIng, as long as they are comfortable with the risk/ reward ratio they will stay in or jump in.
But pushing 20% has to have the amateurs (shorts) a little concerned. The big time shorts may not care about the rates if they think it will work. Would they consume their own brethren? (Just like in the ocean- the big fish eats the little one?).
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Post by tbone on Feb 6, 2015 11:03:58 GMT -5
Leading up to one of the pdufa dates the shorts were paying north of 60-70%. When the shares are that hard to come by, the put premium also skyrockets as buying puts is the alternative to shorting. .
For the believer, it presents a great opportunity to sell puts or even get into a synthetic long (buy call/ sell put of same strike and expiration) for deep discount to buying stock. Today you can buy mnkd for $6.20 a share with Aug options. Cheaper than that if you only sell the put but then there is no guarantee you get put the stock.
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Post by ezrasfund on Feb 9, 2015 9:20:27 GMT -5
Income rate has changed on your loaned securities
Thank you for participating in Schwab's Securities Loan Fully Paid (SLFP) program. We're writing to let you know that the income rate has changed for the following securities loaned to Schwab through the SLFP program:
Security Name Security ID Old Rate New Rate MANNKIND CORP MNKD 7% 10%
Income rate changes for a loaned security are most frequently due to fluctuations in the supply and demand for that security.
This morning at 9:15. Just sayin'.
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Post by daduke38 on Feb 10, 2015 7:45:15 GMT -5
Any nice rise in the price of the stock will carry with it more shorters, at least until we can show quarter over quarter growth. By the way, the price action has been such as to possibly lull a few people into some sense of security. Pride (or in this case, a secure feeling) goeth before the fall! Everyone - feel uneasy! Market karma demands it! I was wondering about that. Someone on YMB posted there were a ton of short trades yesterday. The only premise they can have right now is sales. And I don't think anyone short sees this selling well. In anything I do, I always try to think of what the other side or competitor is thinking. Obviously, I think it will sell extremely well and expect other TS applications to add value. I am also certainly not ruling out a BO. But I can see Short interest going up as the price does. Just my thoughts! As an aside, Baba you, Dreamboat, and Spiro all have great senses of humor!
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Post by liane on Feb 10, 2015 10:18:35 GMT -5
I heard both of these songs on my favorite radio station - twice! - in the past week. Knew it was an omen.
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Post by joeypotsandpans on Feb 10, 2015 10:43:43 GMT -5
And looking at the charts this week along with the shares available being virtually non-existent this is the song that comes to mind for me this early am. ....speaking of which, latest SI due out after the close today thru 1/30 Pink Floyd - Comfortably Numb (with lyrics) - YouTube www.youtube.com/watch?v=y7EpSirtf_E
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