National Bank of Greece ADR (fka NBGGY)

[fourdueces]

The following reasons I believe are affecting the pps the most. The spread of ADR vs Athens. Gapped closed five sessions ago, price was staple, gap came back, and now heavy hitters are doing the spread again. Good news only 500k shares out there left to short. Updated article on spread

http://seekingalpha.com/article/3454726-national-bank-of-greece-arbitrage-round-2

Factor 2, the pending elections. Although the other parties have no chance there still having a affect. First party has two more days. That gets us to sunday. Then 2nd party is passing, and the 3rd one will try but also has no chance. Wont paste links to that cause havent found anything that states there chances are slim to none

Factor 3, overall market, and self off in general, stocks that are crushed before always get punished worse. Like we are

Positive outlook, by all things given and read, former prime minister still is 61 percent favorable, population is 65 percent want to stay in euro. Other candidates dont. That equals a win. Thus better for IMF in October, will have a more staple government.The pps is holding above .695. The October and November calls and putts today. Calls have only volume for day in October and November calls for 1 and 1.5. So someone thinks this is gonna go up.

Possible hedge, Euro online books, Greece to leave euro, is 40 to 1, any other candidate to win election other then Alexus is 4 to 1. If your worried about those issues theres your hedge.

Now a simple question that I don't know the answer if anyone could help. I don't ever trade margin. My brother wants to send 10,000 in on margin. If he invests the 10 thousand in a stock that's 50% marginable his buying power is 5,000 and what is the non marginable buying power? I believe its nothing, he believes he has non marginable buying power. IDK. His plan is buying 10k in preferred at 50% marginable and then taking that 5 dimes and buying common shares. I dont think he will have that much buying power on a non marginable 2nd postion.