Didn't get a lot of detail, just "We will most likely borrow them today. We have been seeing some decreased demand lately."
Sometimes I think you just have to send these guys a reminder...
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Sometimes I think you just have to send these guys a reminder...
Fidelity:
Lend TSLA: 8.5%
Short TSLA: 16.5%, 0 shares available to short
Lend SCTY: 29.5%
Short SCTY: 52.0%, 0 shares available to short
Chickenlittle
Banned
Fidelity:
Lend TSLA: 8.5%
Short TSLA: 16.5%, 0 shares available to short (could be out of date - can't check again until Monday)
Lend SCTY: 23.25%
Short SCTY: 52.0%, 0 shares available to short (could be out of date - can't check again until Monday)
FYI, because there are so many people here with their TSLA holdings at IB, IB seems to have removed TSLA from their special margin stocks list.
Previously you were required to maintain 100% margin on TSLA, meaning that your TSLA stock could not be used to initiate a margin loan and take advantage of IB's super low margin rates. No longer the case. Checked my IB app this morning and my buying power has shot through the roof.
Personally, this was the main reason I transferred my TSLA to IB in the first place and I felt pretty stupid for not realizing there were special margin stocks. I wanted to use TSLA as collateral to buy safer stuff at low margin levels and also have some quick cash around to deploy in buying opportunities.
Of course, we also have the TSLA short-lending program paying out daily fees in the range of 8% APR right now, so you might have to initiate a pretty big margin loan to beat that (especially since it's paying actual cash on a daily basis).
Previously you were required to maintain 100% margin on TSLA, meaning that your TSLA stock could not be used to initiate a margin loan and take advantage of IB's super low margin rates. No longer the case. Checked my IB app this morning and my buying power has shot through the roof.
Personally, this was the main reason I transferred my TSLA to IB in the first place and I felt pretty stupid for not realizing there were special margin stocks. I wanted to use TSLA as collateral to buy safer stuff at low margin levels and also have some quick cash around to deploy in buying opportunities.
Of course, we also have the TSLA short-lending program paying out daily fees in the range of 8% APR right now, so you might have to initiate a pretty big margin loan to beat that (especially since it's paying actual cash on a daily basis).
Fidelity:
Lend TSLA: 8.5%
Short TSLA: 15.25%, 0 shares available to short
Lend SCTY: 23.25%
Short SCTY: 43.0%, 0 shares available to short
Fidelity:
Lend TSLA: 8.5%
Short TSLA: 15.25%, 0 shares available to short
Lend SCTY: 22.0%
Short SCTY: 43.0%, 0 shares available to short
Looks like the shorts are, if not abandoning SCTY, at least normalizing their "shortedness" to TSLA's. So soon there may be no interest rate advantage to holding/loaning SCTY over TSLA.
adiggs
Well-Known Member
Heh - where "soon" is that the SCTY interest rate to lend SCTY is now less than 3x the interest rate to lend TSLA.
Of course, using your own posts as the source of information, we only need to go back to last Thursday (3 business days) to see a ratio between the two of roughly 3.5x. In that context, it does look like SCTY is normalizing to TSLA's rate pretty quickly.
Of course, using your own posts as the source of information, we only need to go back to last Thursday (3 business days) to see a ratio between the two of roughly 3.5x. In that context, it does look like SCTY is normalizing to TSLA's rate pretty quickly.
Mario Kadastik
Active Member
At IB at market close:
SCTY - 205k shares available to short, fee 43.3% to short, 42.92% rebate rate
TSLA - 35k shares available to short, fee 16.06% to short, 15.66% rebate rate
SCTY - 205k shares available to short, fee 43.3% to short, 42.92% rebate rate
TSLA - 35k shares available to short, fee 16.06% to short, 15.66% rebate rate
Yeah, it's all relative, and the rates can change pretty quickly. Because I love data:
PM me with an email address if you'd like the raw data - I tried to attach it but spreadsheets are not allowed...
jvonbokel
John VonBokel
I would love to see this instead of the text updates. You could add a label for the most recent data point to draw attention to the current value and the change since last update.
It's so much easier (particularly on a phone or iPad) to just update the numbers. But I'll try to update the graph at least weekly. Tomorrow I'll look into setting up a Google spreadsheet that might make the graph more automated...
First attempt:
Click for interactive graph of interest rates.
You can bookmark that if you want and I'll keep it as current as I can.
Can't figure out how to make the graph show up in a TMC post. If I could embed HTML in a post, this would do it:
<iframe width="800" height="600" seamless frameborder="0" scrolling="no" src="https://docs.google.com/spreadsheet...pubchart?oid=853615618&format=interactive"></iframe>
...but (as you can see above) you just see the source, not what it's pointing to. If anyone knows how to embed html into a TMC forum post, please let me know.
Click for interactive graph of interest rates.
You can bookmark that if you want and I'll keep it as current as I can.
Can't figure out how to make the graph show up in a TMC post. If I could embed HTML in a post, this would do it:
<iframe width="800" height="600" seamless frameborder="0" scrolling="no" src="https://docs.google.com/spreadsheet...pubchart?oid=853615618&format=interactive"></iframe>
...but (as you can see above) you just see the source, not what it's pointing to. If anyone knows how to embed html into a TMC forum post, please let me know.
adiggs
Well-Known Member
Here's a graph including the rates the shorts are paying to borrow (those rates may be less accurate than loan rates because they are manually spot-checked vs. published by Fidelity):
All TSLA and SCTY Interest Rates
I'll keep them both updated since they both come from the same sheet.
All TSLA and SCTY Interest Rates
I'll keep them both updated since they both come from the same sheet.
And finally (to support my assertion that SCTY's rates are slowly approaching TSLA's), here's the ratio of SCTY rates to TSLA rates for both loaning and borrowing shares:
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