Author Topic: There are a bunch of notes decreasing @2c per 1/2 hour  (Read 1812 times)

Ran

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There are a bunch of notes decreasing @2c per 1/2 hour
« on: May 25, 2014, 05:00:47 PM »
One Note is https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=1360490&order_id=21399837&note_id=11534715
I understand a guy is using a computer doing the job.
It started at -87% discount(may be even bigger) for a 120+day soon-to-default-note. But, come on, even a computer will find 2c price change too boring and too slow 8)
Welcome Folio sellers' comments on this strategy.

New Jersey Guy

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Re: There are a bunch of notes decreasing @2c per 1/2 hour
« Reply #1 on: May 25, 2014, 08:42:28 PM »
You're right about one thing.  That note (and probably the others) are just moments away from default.

Typically, those notes will sell once they get to the $1.00 mark.  If his prices aren't close to that, he'd better hurry!
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As of April 30, 2014