SBNY
Signature Bank
stock OTC

Up ~44% ytd with CSPs, I don't know what losing is 😎
Nah, I just threw a fraction of my profits so far at it. If I lose it all, no big deal.
Honestly, after seeing what happened with sivb and SBNY, if it goes under it won't trade for a couple of weeks and my weekly puts will expire worthless anyways 🤣

The whole Amazon thing is a ploy for perspective news:
They can say Amazon backs out because AMC is *insert negative sentiment here*, making people feel that if a company with that power nd knowledge doesn't want it, why should they buy it or hold onto it?
1) They simply lie through calling the news a 'rumor' or 'opinion'.
2) 3rd party actions and statements hit more hard to people and make more of an impact. I.E. "You're stupid!" is far less offensive then "*Person* says you are stupid". It shows that things are going on that don't include you, so your suspicious thoughts around them are calmed. You are more in a state where you feel truth is being told, and if there's a group involved, you may succumb to group mentality and do something foolish like sell.
Good thing we all know it's bullshit and they have played this game before. Why didn't the news warn anyone about SVB and SBNY and Evergrande and CS and UBS and FRC and WAL to name a few? It's because the news is made by people with motives, and their motive is for you to sell. Their plan is to have a company like Amazon say we aren't good. Kind of obvious. Most likely Friday news!

Just call your broker and they can do it for you and explain what they're doing to you. I just did this with my 1 Contract Put for SBNY (now OTC)...no shares owned at first.
1. My broker had me buy the 100 shares which equals 1 contract. 100×$0.10=$10 (the $0.10 was how much the Over-the-counter (OTC) value was at the time)
2. Then I Sold my 1 contract or 100 shares at $50 per share. The buyer was obligated to buy at $50 a share per the contract
3. Made a great profit ($5000-$10=$4950) and now completely out of both the stock and options for SBNY

SIVBQ 💪💪💪 looking for SBNY to pop next

I feel ya. But yeah that’s far from pennies you got steam rolled for. One of those plays you do consistently in small size and are EV positive for sure. I was short 200 shares at 80 on SBNY and sold the 50ps for 5 bucks each myself. Not the same thing obv but def hurt. Good luck dude.

Lol I had 4 80p 4/21 on SBNY from 3/8 sold them for 200%...soo

You don't pay interest on short positions, you pay a borrow fee and that fee is based on the current stock value x the borrow fee rate so with these two trading for pennies the borrow fee is insignificant.
At IBKR the borrow fee rate is 8.6% for SBNY and 5.3% for SIVBQ - those are annual percentages, the borrow fee is charged daily based on the current value and current borrow fee.

Right now? treasuries. IF there is a crash, low fee index funds will destroy your account. Theres talk of Schwab struggling (dropped 20% at one point) and vanguard had questionable investments (SBNY for example). Treasuries guarantee your capital plus you earn interest. I'd look into it - TreasuryDirect is where you can get them. NFA but... its where i'm parking most of my money. Take care and good luck!

Right now? treasuries. IF there is a crash, low fee index funds will destroy your account. Theres talk of Schwab struggling (dropped 20% at one point) and vanguard had questionable investments (SBNY for example). Treasuries guarantee your capital plus you earn interest. I'd look into it - TreasuryDirect is where you can get them. NFA but... its where i'm parking most of my money. Take care and good luck!

I was on the phone with them this morning about my SBNY put and the reps were totally useless. Then the options chain started trading again like 15 min after open and I closed out. But man, talking to those reps was a reaaaal reminder of how clueless robinhood reps are with options.

Tweet Mirror:[@dana_marlane](https://twitter.com/dana_marlane/status/1640704142728642560)
>There it is!! [$SBNY](https://www.tradingview.com/symbols/SBNY) $45k profit!! 🥳🥰❤️🔥😍 @AlderLaneEggs you’re the best!
>
>[\[Twitter Image 1\]](https://pbs.twimg.com/media/FsTzuGDXsAEhSz-.jpg?format=jpg&name=4096x4096)

I agree with this. This is what I did with $SBNY and am doing with others currently $WAL, $EWBC

Idk wth you talking about, you can literally check the options chain here: https://finance.yahoo.com/quote/SBNY/options/
$50 options were selling for $49+. I’m sorry Robinhood shafted you

Sorry to hear that the chart doesn’t look like the one I shared. What’s the matter with your chart?
The ticker symbol is SBNY. I can refresh the chart on TradingView & see the same chart with no problem.

Dang bud, which one did u buy SVB or SBNY?

Bro who sold $50 strike 21 April SBNY puts for $19 each 💀

Given the recent fallout of SVB and SBNY, the benefit of bank sweeps was the pass thru FDIC insurance. Money market accounts also have this pass thru, ***but*** [money market mutual funds do not](https://www.consumerfinance.gov/ask-cfpb/is-a-money-market-account-insured-en-1007/#:~:text=Money%20market%20mutual%20funds%2C%20however%2C%20are%20not%20federally,bank%20or%20credit%20union%20to%20confirm%20your%20coverage.).

> That means, SIVB and SBNY will probably move to OTC and trade for pennies.
Spot on!

Source: [https://www.reuters.com/markets/us/biden-says-banking-crisis-not-over-yet-2023-03-28/](https://www.reuters.com/markets/us/biden-says-banking-crisis-not-over-yet-2023-03-28/)
>The US President on Tuesday he has done what is possible to address the banking crisis with available authorities but that it is "not over yet."
>
>The failures of SVB, and days later, Signature Bank **(SBNY.O)**, set off a broader loss of investor confidence in the banking sector that pummeled stocks and stoked fears of a full-blown financial crisis.
>
>A deal to rescue Swiss bank Credit Suisse last week and a sale of SVB's assets to First Citizens Bancshares **(FCNCA.O)** this week has helped restore some calm to markets, but investors remain wary of more troubles lurking in the financial system.

I was able to close my short position in SBNY created when I exercised my march 17th puts. Nearly max profit!