At Fidelity:
Lend TSLA: 8.5%
Short TSLA: 14%, 0 shares available to short
Lend SCTY: 31.5%
Short SCTY: 65.0%, 0 shares available to short
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Lend TSLA: 8.5%
Short TSLA: 14%, 0 shares available to short
Lend SCTY: 31.5%
Short SCTY: 65.0%, 0 shares available to short
TheTalkingMule
Distributed Energy Enthusiast
TSLA rates were pretty much the SCTY rates above in 2013.
Yeah, there is an old thread on here somewhere called "Cost to short TSLA reaches 85%"
Those were good times.
Only 70% more to go!
Lend TSLA: 8.5%
Short TSLA: 15%, 0 shares available to short
Lend SCTY: 31.5%
Short SCTY: 65.0%, 0 shares available to short
At Fidelity:
Lend TSLA: 8.5%
Short TSLA: 15%, 0 shares available to short
Lend SCTY: 31.5%
Short SCTY: 65.0%, 0 shares available to short
phigment
Member
I like the running tally they kept in the other thread. Anybody else find it useful? I've collected the past couple of weeks of rates from Yonki's end of day quotes.
20/06/2016 - 0.75% - 1,089,395
21/06/2016 - ?
22/06/2016 - ?
23/06/2016 - 4% - 97,165
24/06/2016 - 11% - 519,714
25/06/2016 - weekend
26/06/2016 - weekend
27/06/2016 - 10% - 175,446
28/06/2016 - 7.75% - 288,643
29/06/2016 - 12% - 137,137
30/06/2016 - 12% - 0 available
01/07/2016 - 13% - 0 available
02/07/2016 - weekend
03/07/2016 - weekend
04/07/2016 - weekend
05/07/2016 - 14% - 0 available
06/07/2016 - 15% - 0 available (start of day)
20/06/2016 - 0.75% - 1,089,395
21/06/2016 - ?
22/06/2016 - ?
23/06/2016 - 4% - 97,165
24/06/2016 - 11% - 519,714
25/06/2016 - weekend
26/06/2016 - weekend
27/06/2016 - 10% - 175,446
28/06/2016 - 7.75% - 288,643
29/06/2016 - 12% - 137,137
30/06/2016 - 12% - 0 available
01/07/2016 - 13% - 0 available
02/07/2016 - weekend
03/07/2016 - weekend
04/07/2016 - weekend
05/07/2016 - 14% - 0 available
06/07/2016 - 15% - 0 available (start of day)
Cool. I'm not infallible, but I only post updates after I see a change in interest rates (or a substantial change in available shares), so if you don't see an update it should mean the rates haven't changed.
Chickenlittle
Banned
I don't understand why they don't increase the rate when there are 0 shares available. Would seem to make sense to get more shares available to loan
TheTalkingMule
Distributed Energy Enthusiast
At Fidelity:
Lend TSLA: 8.5%
Short TSLA: 15%, 0 shares available to short
Lend SCTY: 35.0%
Short SCTY: 65.0%, 0 shares available to short
Just messing around on Fidelity tonight, found a list of ETFs that have TSLA in their portfolio. There were a bunch of funds shorting TSLA, and they all had lifetime ROIs that looked like this (SQQQ):
Not only will this fund turn your $10,000 into about $100 in 6 years, it will do with an expense ratio of almost less than 1% (1.05% gross expense ratio).
There are a ton of these winners - SQQQ, QID, SZK... PSQ is a pretty good one: your $10,000 is still worth about $2500 10 years later (-14.6% annual return over lifetime of the fund). Then there's HDGE which thinks pretty highly of itself - a -15% annual return over its 5 year life and only a 2.9% expense ratio.
Seriously - who is investing money in these funds? Is it some kind of money-laundering (money-shredding?) scheme? I guess enough people believe the apocalypse is right around the corner to support them (though I'm not sure exact what money will buy you post-apocalypse...).
Not only will this fund turn your $10,000 into about $100 in 6 years, it will do with an expense ratio of almost less than 1% (1.05% gross expense ratio).
There are a ton of these winners - SQQQ, QID, SZK... PSQ is a pretty good one: your $10,000 is still worth about $2500 10 years later (-14.6% annual return over lifetime of the fund). Then there's HDGE which thinks pretty highly of itself - a -15% annual return over its 5 year life and only a 2.9% expense ratio.
Seriously - who is investing money in these funds? Is it some kind of money-laundering (money-shredding?) scheme? I guess enough people believe the apocalypse is right around the corner to support them (though I'm not sure exact what money will buy you post-apocalypse...).
pz1975
Active Member
I can't speak for all of them, but SQQQ at least has a defined purpose--it's an ETF that shorts the Nasdaq. Therefore, it has to go short TSLA to produce its intended purpose. These types of funds aren't really meant to hold long term unless you think the Nasdaq is going to tank for an extended period. Indeed, I've made a little money daytrading SQQQ when I've correctly guessed that some event would tank the market and I wanted to hedge my entire portfolio.
D'OH! Of course - I wasn't thinking about short-term hedging, even though I did a bit of exactly that around 10 years ago. Do you know what difference there is (if any) between buying one of these short ETFs and shorting a long ETF? Seems like you wouldn't need both.
At Fidelity:
Lend TSLA: 8.5%
Short TSLA: 16%, 0 shares available to short
Lend SCTY: 35.0%
Short SCTY: 70.0%, 0 shares available to short
BTW, if anyone wants to do this for Interactive Brokers or others with a fully paid lending program, feel free. Would be interesting to see how the different brokerages track over a week or two...
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