implied vol and trading today looks ugly, the way WB and WM did a week ago…anyone follow this name closer?
Sold off almost all subprime, still choking on Alt-A and indirect auto portfolios. Took a big hit on a $250M chargeoff last week (or two?) ago. Never had the CDO exposure of the other banks that died. Can’t explain the volatility.
thanks man. STI i see is down, probably b/c some had thought WB would buy them.
I just got checked for STI’s last week so I have my fingers crossed awaiting results. Santander has a 25% stake in SOV (for which they paid around $25/share a while back) so I can’t see a buy from anybody but them.
SOV now hitting fresh intrasession lows…
I thought JPM had been looking at STI last summer? I’m glad Sun Trust has always had conservative lending practices.
Chuckrox8 Wrote: ------------------------------------------------------- > I thought JPM had been looking at STI last summer? > I’m glad Sun Trust has always had conservative > lending practices. true, but STI is heavy in florida (i have an acct with STI) and florida is getting rocked up the culo b/c of real estate mkt decimation
Yes SOV will be dead today or tomorrow. My prediction is that receivership is imminent. The only question that reamains is where should I move my checking account to?
Any thoughts on reasons for the 50%+ drop on SOV today specifically?
juventurd Wrote: ------------------------------------------------------- > Any thoughts on reasons for the 50%+ drop on SOV > today specifically? rumor santander will nab em. santander alrerady had a chunk of em and makes sense, JP did deal, citi did deal, that leaves WFC/santander looking for easy targets…