Perhaps it might be too early for me to judge. The dividend was announced yesterday and the stock seems to be having much trouble making it over $29.11-$29.12. Could it be running out of gas already? What say you my friend?
It's actually a high-volume day -- already at the "average volume", but that usually includes at least one SPO day which distorts the average upward.
I don't see any mysteries here. Considering:
1. High volume today.
2. Flat top at 29 most of the day.
3. Earlier announcement that AGNC will be selling about 10 milliuon shares "from time to time".
Seems clear to me that the public is buying and AGNC (and/or its agents) is selling at 29. This is what the early declaration was intended to accomplish, I believe. (I wonder how much of that 85 cent/share reserve they expended for this project).
Given the 5 million shares so far today, and presumably a few more million sold already since the slow-offering announcement, they will presumably run out of shares to sell soon. AGNC should then rise again, I would think.
But I sold my options today, with PPS at 29, as I will be traveling in the coming days and will not be able to monitor things.
The announcement was only hours ago. Imo, it is too early to sell. ARR's spo may not have helped AGNC's price today. I will hold my fire until I see the greens of their pockets, but then it will be handed over to those who have waited, with nary a shot fired.
I have exited at $29, I'm having a strong gut feeling about all this, that something is not right. I have sold all of my Jan $28 Calls with a loss 0.24. I will never again overpay for those calls, ever again.
Hi X, I don't know what you paid for your Jan $28's, I bought mine for 87.5 cents on Oct 27th and 28th after the SPO, held them for a few months and sold them for 95 cents on December 16th. Then I foolishly shorted them for $1.10 on Dec 19th and got assigned, now I have to wait for a flash crash or an SPO to cover.
X tath was premature. Look at the Dec 2010 agnc chart, and the .AGNC110122C29 chart, the bulls and bears fought pitched battles in Dec 2010. It's far from over, this is just the 1st day after announcement.
There are a lot of parallels, in the 2010 version the CF facility was announced in Nov and the SPO in Dec, whereas in the 2011 sequel the plot twist puts the SPO in Nov and the CF in Dec. In the 2010 version open interest on .AGNC110122C29 doubled in the day after the SPO announcement, the bears were sure they could write them safely because they believed they would expire worthless. Once the div was announced in 2010 AGNC jumped to $30 and the $29 calls went from 35 cents on Dec 16th to $1.05 on Dec 20th. Who know how the 2011 sequels will unfold, but safe to say 50 cent daily moves won't be uncommon. and AGNC topping $30 is quite possible.
It appears my charting is updating the volume because the bar graph landscape is entirely different from what it was a half hour ago. Apparently it's playing some kind of catch up. But in spite of that, we're still flat-topping at 29.