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For the people who are asking what will happen to their money
$First Republic Bank (FRC.US)$ For people who bought ordinary shares, there will be no payout by JPM or the government. Since the JPM deal only involves the takeover of assets and deposits, and not a full and total merger, FRC will remain as a shell company with its corporate debt and liabilities and minimal assets. Consider FRC as a pizza with all its delicious fillings removed by JPM, leaving the sad crust crumbs as the shell company left in FRC. Most likely scenario is a demotion to OTC exchange in a few weeks or months, where current shareholders may trade in the new ticker code FRCQ, and you may be able to cash out at whatever price the buyers may bid, expecting 10cents to 1 dollar range like SIVBQ.
For calls and puts buyers before the suspension, no matter your paper profits, since the underlying FRC shares are basically delisted and either moved to OTC or suspended indefinitely, all options can be written off as 0. There is no obligation by the SEC or the exchange or any other authority to allow options trading of a suspended counter, as there is no value in exercising options on a counter that isn't trading in the first place.
For calls and puts sellers before the suspension, you may be the only ones that emerge as winners, as you will be basically able to walk away with the premium you obtained via selling these options and have no fear of these options being exercised against you, since the counter is suspended and going to be delisted/demoted to OTC . congratz to these people.
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102597866 : Which is close to getting nothing back?
101802833 OP 102597866 : pretty much yes. I just made this post as I'm frustrated at all the hopium and copium posts by other ppl saying irresponsible things like FRC to unhalt and rocket to 40 dollars or FRC shares to be converted to JPM shares, which is all patently untrue and nonsensical
Foxstrox : Well explained by 101802833
Simon Lee8 : People who pretend to sleep never wake up
70108039 : don't understand last paragraph when can I sell myy puts
102597866 : Big losses for me. But nothing much I can do except to accept the outcome, grieve, learn from it.
102597866 : Back to slogging and working till the day I die in this age of high inflation, high interest rate, uncertain economy and unstable markets. I’m better off staying away
101802833 OP 70108039 : apologies, the post refers to options bought or sold before the suspension. if you are holding options now, you belong to the category of options buyers I detailed above. I have edited my post accordingly
Ineedtosleep 70108039 : Already explain as no more trading for this stock..
Andre88888888 : Good to know. Very well explained
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