Grey Market Ticker for JPMorgan Chase Preferred

Finally after waiting all day the OTC Grey Market ticker has been released for the new JPMorgan Chase 6% preferred.

OTC Grey Market ticker is JPEEL.

We don’t see the ticker set up in either eTrade or Fido at this point.

17 thoughts on “Grey Market Ticker for JPMorgan Chase Preferred”

  1. I completed 2 trades for JPEEL at 25.13 and think it is a fair price for a long term investor.

  2. Anybody buying JPEEL? I put in an order at $25.00 but no fill yet and not going to chase it higher.

    1. I initiated a small position at $25 and would definitely buy more a bit under there. There was strong institutional support for the deal, that is why it didn’t price slightly above 6%. Wishing you profitable investing, Nomad

    2. I wont because I have bought so much MTB-, MTB-C, BANFP, CBKPP, and even more ALLY-A recently, I have bank tellers coming out of my ears.

      1. I sold out of my entire ALLY.A position today (sorry)!and book a very nice gain. Will await for this floater to “float” lower. Also sold CHSCN to take profit as it seems the earnings are weak and we all know about their poor corporate governance. Smile, Nomad

        1. Nomad, I am being greedy and seeing if it returns to the 26.20 scene of the crime like history suggests it would…I really dont have anything to replace it with either. Apparently CEO has made a comment he has no interest in redeeming issue from what I was told. Good to hear, but I never trust a word they say….They are the enemy!

          1. Hope you are right Gridbird about CEO have no interest in replacing Ally-A. No replacement for a 8%+ yield that floats from an SIFI institution that undergoes annual Fed stress tests. I will hold this one.

            1. Steve, somebody messaged me and said in a conference call they liked having a variable trust issue for flexibility and they had no plans to redeem. Now I personally read they will be knocking 5 billion off the debt books by end of 2022, so I will bet that ALLY-A could be part of that debt reduction though in a couple years.

            2. Steve, I am a bit too deep into ALLY-A admittedly. Last couple years about every quarter I would buy 500-600 shares or so when it dropped into 25.60 range (that gap time when people worry a redemption notice is coming) and flip before exD date when it got bid up over $26.30….Rinse and repeat…Nomad who posts here knows the trick…Well this quarter I bought when it dropped to 25.60 ready to play the game as usual…Funny thing happened this time, it kept going down. So I played the Rida Morwa trick (his brain dead answer to everything) and doubled down at 25.30, and then did it when it got near par, and one more bite of the apple on the upswing around 25.35 (I had no business doing that purchase). So long story short I have too many shares. But I am going to play out this bloated position until the exD date chases (hopefully) this thing higher. Will look to trim some just for common sense sake at that point….I hope, but its hard for me to sell unless I have something I want to buy. And that was partly the problem for buying too many to begin with as there wasnt anything else I wanted to buy after selling some flips.

              1. This year I am trying something different. I am using a preferred ETF PSK, currently paying 6.2% as my “bullpen”. Last year paid, a nice steady 0.20 per share every month until it’s December payout. It mirrors the Investment grade preferred index. So when I cannot find something I want to individually hold, I am still fully invested waiting for the right individual issue to buy. I try to limit my individual company/issue exposure to 4% of my portfolio. I did stretch Ally-A to 5% when it dipped. If it returns to $26.80 it’s 2018 high then maybe I will reduce back to 4%.

                1. Steve, Im sitting at a little over 13% in ALLY-A….Too much…Except I could say the same thing about MTB- and MTB-P as combined they are even a bit more than that, lol. If I didnt have a safe pension I am living on that more than takes care of my monthly needs, I would cap out no higher than your personal limits. My entire investment money could go to zero and it wouldnt change my life a bit. Other than I wouldnt be able to have fun trading preferreds anymore.

          2. Grid, like you ALLY.A became a large part of my portfolio. I kept buying 1000+ share lots everytime it dropped 0.05 below $25.35 (25.30, 25.25, 25.20, 25.15 etc). When I looked at my ALLY.A size I was quickly above what I felt comfortable with and decided if/when this floating preferred traded above $25.80/25.85 I would start to unload. I only sell out of my quality positions after much deep thought and have flipped ALLY.A (like you) successful many times. The futures so bright I gotta wear shades (haha), Nomad

            1. I finally own ALLY-A at $24.98. I wish I went more into short term bonds in Oct-Nov. SSWN and KYN-F that i liquidated in the selling fury was nice. The key for me was looking at a list of investment grade ones, and ones that investors feel passionate about and push them up. Then sorting by daily and weekly and monthly losses in price. Now, trying to figure out what to do with the 8%-15% unrealized gains, and maybe I am too greedy. All last week I wanted to hit the sell button on all. But many investors are still scrambling to buy back what they sold and “get back into the game for fear of losing out.” Hence… everything is going up, up. Slowly selling the ones hitting $3 gains, and accumulating SSWN and KYN-F again.

              Seems everything is going back to where it was before. The DOW is doing record gains to get back to where it was. These are telling me that everyone is getting greedy again.

      2. Hi Grid
        I miss the Christmas fire drill and wandering around inside the building picking up watches, phones, and jewerly that people abandoned while stampeding for the door. Hard to find any of that stuff left now. I did pick up a starter in SCE-L today $17.55 but I don’t view it as a quick flip. It may take awhile for price to normalize. I agree with you that it is apples to oranges with PCG and am perfectly happy to hold a 7.1% investment grade ute and even add if it dropped enough more for no good reason. Thanks for your earlier comments on SCE.

        1. Be careful here, and dont overload is my opinion, P. The fire liabilities are not totally quantified and if another one breaks out it could stress them. Credit agencies are very slow to downgrade from investment grade for all the repercussions it entails. Everybody knew PCG was in serious trouble but rating agencies didnt move them to junk until way past time everybody knew it was in trouble. Like you I am planning to hold as if things recover and calm down the flip will be there down the road….I was tempted to buy more, but I just cant unless it drops more without real cause. I probably have more than I should anyways… I know I have more than what I would have ever considered buying if this had happened 3 years ago, lol

  3. JP Morgan CEO Jamie Dimon gets raise to $31 million after bank posts record earnings for 2018
    Dimon’s full compensation for 2018 totaled $31 million, up from $29 million, according to an Securities and Exchange Commission filing.
    The compensation includes a base salary of $1.5 million for Dimon and $29.5 million from performance-based incentives, the filing says.
    J.P. Morgan Chase reported a record yearly profit for 2018 earlier this week, with its annual earnings per share coming in at $9.
    In a statement, Dimon said the company last year posted “record revenue and net income, even without the impact of tax reform. Each line of business grew revenue and net income for the year, while continuing to make significant investments in products, people and technology, demonstrating the power of the platform.”
    The bank, however, also posted its first quarterly earnings miss in 15 quarters this week, as its fixed-income trading business suffered from a sharp spike in market volatility to end 2018.

    The shares lost 9 percent in 2018.

  4. JPEEL is showing on Fidelity and Etrade this morning. 52 week high is $25,13, low is $24.99 – all from yesterday. If Etrade is right volume yesterday at 16,512,351.


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