BofA we hardly knew ye

CFA General
#21

Wait a week and you’ll be able to buy @ $5.

#22

well if i liked it @ 6,75 i practically want to marry it at 6.00

#23

here come the rumors, fellas. http://247wallst.com/2011/08/23/jp-morgan-may-take-over-bank-of-america/

#24

Oh, goodie!

#25

So you’ll have Bofa, Merrill, and JPMorgan rolled into one company? Regulators would be stupid to let such a deal happen; talk about too big to fail times 10!

#26

You forgot countrywide. Anyone know what happens to call and put options in this mystical scenario? I own both.

#27

seriously BoA seriously? biggest bank by deposits in America and you are going to let the Gov sanctioned Countrywide deal be your undoing? Seriously BoA seriously?

#28

NO EXCUSES!

#29

I heard the best quote about BAC & C in '09… “Buying these stocks are like sleeping with a really hot 17 year old… you want to do it so bad but are afraid of the consequences…”

#30

Speaking of C, do you think it could be a buy now? Month to date, BAC is down 36% and C is down 34%…

#31

i have some to sell if for 7 bucks n i will thow in my signed worn boxers as extra

#32

Smells like a value trap to me. Lots of upside, sure, but if BAC needs any sort of “assistance” it’s going to get really rough for financials. Too risky for me. I’ll buy around $4 since I missed out in '09.

#33

I bought some of the preferreds and out of the money puts ($5 May puts). If you want to play the common you might look at their warrants. Kinda a way to play the common in a levered way.

#34

BOA is sitting on $140 B cash??? http://www.cnbc.com//id/44244052

#35

Citi was up today while BAC was down; who are these people that think Citi is in a better position than Bofa?

#36

Nobody knows the position these banks are in due to the untold amount of derivatives held off the books. That’s sort of the point, and the reason the stock is a POS. Citi will have their turn I am sure.

#37

I’ve gone to my Scottrade account twice this morning and entered everything in to pick up a few BAC $7 Oct Puts, but haven’t pulled the trigger yet. Really want to bet against them, but just can’t bring myself to roll the dice.

#38

So how many of you guys lost money today betting against Bofa?

#39

I ended up buying BAC 7 Sept puts with about ten minutes left in the day. Just a few at .70.

#40

Sweep the Leg Wrote: ------------------------------------------------------- > I ended up buying BAC 7 Sept puts with about ten \> minutes left in the day. Just a few at .70. I believe that is called a wipe-out. Buffet to the rescue…but don’t forget he called BAC not the other way around.