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I may jump back in the m's, holding my j's and k's the c's are alluding me!!!!! Thanks for the encouraging words!
Sue
When I flipped LEHs, selling was in a day. Buying back in ALWAYS took a week or more. Be patient, itll come.
I am leaving my order in place. maybe next week I will get lucky
They did not give me any of those shares on Friday either. LEHCQ is an absolute steal under .30 IMO with a $50 face value. As the Lehman story unfolds, these could see the most appreciation from these levels IMO.
still can't buy it. still waiting, order sitting...
now play the theme song for jeopardy!
LEHCQ is DIRT cheap here folks!
I have Zecco and Scottrade, I can do much more with Zecco and for much less only 4.50 a trade. I was able to place an order and it was accepted online. not filled yet, grrrrr!!! but I could not place the order with Scottrade. Still waiting for a fill.
LOL, yep I like to round out my holdings.
I agree. Although I did fatten up my Ps this morning at 7.00. Dont you just hate odd numbers like 332.LOL
I think all the Lehmans will do well across the board, so you cannot go wrong IMO. Low volume consolidation across the Lehman universe today FWIW.
thanks for the help King. maybe when TDS gets it together. But for now my others are Green and Multy Baggers .
Other ones out there, but this is BY FAR the CHEAPEST Lehman play out there... hands down.
I DON'T chase stocks. order canceled. too many to choose from to wait on this 1. gltua.
Good News for Lehman:
NY court nixes option to cease payments in swap dispute
Wed Sep 23, 2009 10:47am EDT
NEW YORK, Sept 23 (Reuters) - A decision by a New York bankruptcy court in a dispute involving Lehman Brothers (LEHMQ.PK) is likely to make it harder for companies that have derivatives trades with the firm to keep the contracts open yet avoid making payments due to the bank's failure.
The court found last week that Metavante Technologies (MV.N), which had an interest rate swap with Lehman, must continue to make payments on the contract, after the company chose not to exercise an option to terminate the swap upon Lehman's failure.
Metavante, a provider of banking and payment technology, had argued that it should not be required to make payments on the contract because Lehman's default left it without an effective counterparty.
The firm also argued that as the non-defaulting party it had the option to wait to terminate the trade until market conditions favored the company.
"The court is saying that while you don't have to designate an early termination you then have to perform, and if you do elect to terminate under the safe harbor you have to do so within a reasonable amount of time after the bankruptcy occurs," said Richard Schetman, partner at law firm Cadwalader, Wickersham & Taft in New York in a comment on the decision.
Derivatives, contracts that are based on the value of an underlying asset, benefit from a safe harbor provision that allows trade counterparties to terminate the contracts in the event of a default.
The contracts, however, don't typically specify a deadline for announcing an intention to terminate the trade.
"This case provides some clarity on the application of the swap safe harbor, though my sense is that the large majority of counterparties have previously terminated their Lehman trades," said Schetman.
Lehman has sued counterparties including American International Group (AIG.N) for using its bankruptcy as a means to avoid making payments on derivatives, which it says violates U.S. bankruptcy code. For details, see [ID:nN12164349]
The case was heard in the U.S. Bankruptcy Court for the Southern District of New York. (Reporting by Karen Brettell; Editing by Theodore d'Afflisio
I think what they meant is that the only market maker willing to sell right now is at .45, you may be able to net some lower if you just leave a bid out there. They may not be able to see orders of less than 5K as they are not reflected.
Thank you waman1!
NP. IF it helped glad to do it.
I had thought the 1/2 BA was a glitch only to STRADE. I did not know it was market wide. THANKS for bringing that to our attention.
Please welcome our new asst. MOD. Im sure he will bring a fresh new outlook to our little family of die-hards here.
PM me the zecco info if you can,-might want to go there and Dump TDA. Lot of BS Answer's from them.
while true that I couldnt figure out how to make multiple choices on the last question, I figured people would put in a stock that didnt appear before. This was done only twice and both were capital trusts, not the traditional prefs.
It is my guess you were given a song and dance about what you can buy, unless it is unique to your broker.
On 9/21/2009 I bought 1000 @ .15, granted that was two days ago but you should at least be able to put in your offer, at your price. That is why I like Zecco, no BS, they just take my offer on-line, and show me when it fills.
UPDATE from talking just now to TDA REP= "NO Market Maker will SELL for less than .45 with a order of 5000 Min". Her words NOT Mine.There is NO BID NO ASK.Again Her words.Boy what an Outfit. Good Luck to everyone.
You will not see the bid and ask, but you should be able to see the time and sales if you have a time and sales ticker. I know it shows up on alphatrade and I think they will show up in the TDA time and sales box.
Being on the Grey Market, I don't see bid nor ask nor T/S on my level II. Greys are funny that way.
TDA does not provide level II to pink sheets or grey sheets. The time and sales should still be correct though. If you pull up the last sale box for LEHCQ, it should show the trades. Your bid and ask from TDA will never be correct on your streamer for LEHCQ. BTW, did you get any of those 6K that crossed?
tda -NOW=Get Quote(s) Go LEHCQ Bid: 0.01 Ask: 0.022 Last: 0.32 ($): -0.03 Vol: 6,000 |
The last question in the survey can't be answered fully, there is no provision for multiple tickers to be selected. Perhaps that is why the turnout is so low? I exited out of the survey when I saw that a useful answer was not possible to the last question.
Thank you I WILL. and Here is what TDA is Still showing for C series-
Get Quote(s) Go LEHCQ Bid: 0.01 Ask: 0.022 Last: 0.35 ($): 0.00 Vol: -- |
Click on the survey button just above the sticky posts. We havent had much response to the survey (only 5 people took the time to awnser it) so not much can be conferred from the information. SAD.
what & where is the SURVEY posted in the IBOX. Thanks.
I Know.Even stranger They have NOT made any correction to their Quote Board.Talk about Market regulation. Next Joke.
Hopefully they give you some. Strange that TDA told you it would be opening up at .40 and we have not seen a trade yet?
I'll be leaving the BUY in GTC and HOPEfully that will happen.
I have more GREEN showing in the different type lehman shares than any other I have , so I'm GLAD I got help from people who KNOW MORE than I do , for sure.
They may still give you some. Remember, this is $50 face value preferred, not a $25, so it should be trading double that of LEHJQ and LEHFQ.
I JUST did that and they said they would TRY to find out WHY it SHOWS that Bid & Ask , and they then told me it WOULD OPEN @.45 So once again Iwould have to Raise MY BID to cover the ASK. Not LIKILY gonna happen.
I think the chances of a substantial payout or recovery for the preferreds especially, are getting better and better everyday from the looks of it.
That bid and ask is wrong. I would say the current bid is at least .35 and the ask is either .40 or .45. If you call in to TDA and ask them to call down to the market center to get you a more accurate quote, they will.
New to this Board and I know it's late - but I had to place my order to BUY at .35 TDA would NOT accept any order for a lesser value , Per order of the Market Maker.Even tho THIS is what it show's , at least on my screen=
Get Quote(s) Go LEHCQ Bid: 0.01 Ask: 0.022 Last: 0.35 ($): 0.10 Vol: 12,153 |
Has anyone else had this happen? Thank You.
Thanks! Honestly what are the odds of that happening??
The face value refers to the face or liquidation value of the preferred shares. The LEHCQ and LEHDQ shares have a $50 face value. The LEHPQ's have a $1000 face value. All the others have a $25 face value. So if the $50 face value LEHCQ shares receive a 20% distribution, that would be $10 per share!
I grabed 69600 of these back december at.01.I wish they were easier to sell.
Hey man I followed you over here.. Can you explain the whole face value thing?
LOL, me too. But when u get em sub-penny, I don't wanna b too greedy, but hell yeah I'll take more!
Lehman Plays and Valuations:
% Face value based on closing price on 9/21/2009
LEHNQ - 8M @ $25 1.40% of face
LEHKQ - 12M @ $25 1.20% of face
LEHLQ - 12M @ $25 1.24% of face
LHHMQ - 16M @ $25 1.20% of face
Capital Trusts seem to be trading nearly equally. LEHNQ is only slightly overpriced compared to other CTs.
LEHCQ - 5M $50 0.50% of face
LEHDQ - 4M @ $50 0.52% of face
LEHFQ - 12M @ $25 0.92% of face
LEHGQ - 5.2M @ $25 0.76% of face
LEHJQ - 66M @ $25 1.16% of face
LEHPQ - 4M s@ $1000 0.70% of face
Of the Traditional Preferred Shares, both LEHCQ and LEHDQ are undervalued with respect to their peers. This may be due to their low float but I believe it is lack of knowledge. Both CQ and DQ have face values of $50 not $25 and therefore should be trading approx twice that of FQ, GQ, and JQ. The most liquid of all Preferred Shares, JQ, is most overpriced relatively. PQs remain a great purchase. PQs need to gain another 68% to reach $11.60 to trade at the same 1.16% of par as JQ. Purchases of low float issues like CQ, DQ, and GQ are going to require purchases at the ASK imo.
LEHMQ -689M @ $0.234
ok, I will try to get this information, thanks
LEHCQ trades on the greys. You can call in to your broker and ask them to find out the real bid and ask. With the $50 face value, LEHCQ is by far the most undervalued Lehman play.
I cannot see any bid and ask on the CQ's via alphatrade.. anyone??
Only 20 percent? I want 50 percent!! LOL Have a great green trading day.
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SECURITY DESCRIPTION: Lehman Brothers Holdings Inc., Depositary Shares, each representing a 1/10 interest in a share of the 5.94% Cumulative Preferred Stock, Series C, stated value $50 per depositary share, redeemable at the issuer's option on or after 5/31/2008 at $50 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 5.94% per annum paid quarterly on 2/28, 5/31, 8/31 & 11/30 to holders of record on the day fixed by the board, no more than 60 days or less than 15 days prior to the payment date. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock Exchange | Cpn Rate Ann Amt | LiqPref CallPrice | Call Date Matur Date | Moodys/S&P Dated | Distribution Dates | 15% Tax Rate |
---|---|---|---|---|---|---|
OTOTC Chart | 5.94% $2.97 | $50.00 $50.00 | 5/31/2008 None | A3 / BBB+ 6/18/08 | Suspended! 2/28, 5/31, 8/31 & 11/30 Click for Ex-Div Date | Yes |
Notes: September 15, 2008 -- Lehman Brothers Holdings Inc. (LBHI) stated that it has filed a petition under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York. None of the broker-dealer subsidiaries or other subsidiaries of LBHI was included in the Chapter 11 filing and all of the U.S. registered broker-dealers will continue to operate.
Company's Email Address Links |
Inv Rel Email Address | sbutler@lehman.com |
General Email Address | inquiry@lehman.com |
Address: 745 Seventh Avenue, 15th Floor, New York, NY 10019 | |
Main Phone Number | 212-526-7000 |
Fax Number | 212-526-3738 |
Investor Relations Shaun K. Butler | 212-526-3267 |
Toll Free Phone Number | 800-666-2388 |
CEO - Richard S. Fuld, Jr. | CFO - Erin M. Callan |
NOTE: LBHGP last traded APRIL 9 2008 and has not traded since (As per Scottrade back room)
(waman1)
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