I'm no expert, but I was kicking myself for selling for a modest gain RIGHT before the upgrade from 'HOLD" to "BUY" a few weeks ago, but now I'm glowing that the stock price has dropped back down, even lower than right before the spike. Any thoughts on the big drop since the upgrade?
I posted on Sep 17..the next two days were higher high as seen below then ...this dip
Sep 19, 2014 16.51 16.58 16.33 16.36 2,978,900 16.36
Sep 18, 2014 16.37 16.54 16.36 16.43 3,111,700 16.
$1 from the sale of covered calls at $17 and $1 NYCB cash dividend is $2/$17 = 11.76% return.
Giveaway would be $18+
Selling covered calls is a move to make to enhance your earnings. Since you're also hoping that it pops, if you sell those covered calls you won't get the benefit of that pop, but the person who buys those calls will benefit instead.
You'd do best selling those calls when the true probability of a pop is most out of match with what the market expectation is.
If you're primarily worried about a drop back to $14 from $17, you should buy puts.
Twice when NYCb climbed above $17 I posted this suggestion and then the stock fell back to $14.
I hope this stock runs but I watch for trends
Date Research Firm Action From To
16-Sep-14 Standpoint Research Upgrade Hold Buy
14-Oct-13 Standpoint Research Downgrade Buy Hold
7-Mar-13 Standpoint Research Upgrade Hold Buy
OK, I'll do just that, right after that mail-order time machine arrives.
NYB is waiting to see if Congress moves the asset threshold for a SIFI Bank to 100 Billion from 50 Billion(In 2015). If this happens NYB will be free to make a large takeover ie Astoria Financial to gain cheap deposits.
This would start the ascension of the stock into the twenties which it hasn't seen in ages!
Seems to be holding this morning at least in pre-market also. Is it because the banking sector was strong yesterday led by BAC? Not complaining here. Is it just rumors or does someone know something. Yesterday there were some large buyers that were in a hurry to load up.
where did you get "the word"? Is it just the old news or is there something credible. We all know they may get someone.
antwan - not much of an investor are you? Making a statement like that removes all doubt if they questioned your investment knowledge and experience.