PBR

Arcite1

It will be tradeable as long as it remains ITM. The question is, will you be able to sell it at or above parity? PBR closed at 16.43, which means PBR1 = 16.43 + 0.6811 = 17.1111, which we might as well round to 17.11. So your call has 17.11 - 12 = 5.11 intrinsic value. The bid/ask closed at 3.00/6.15, so selling it for more than 5.11 doesn't look good, but if you want to close your position, it would certainly be better to place a limit order for more than that and at least try.

PapaCharlie9

First, don't panic. If you want to close out the trade, you'll be able to. You might not like the price you get, but you are not completely locked out. Second, it would have been nice to include links to the OCC memos, but w/e, I'll do it for you. [https://infomemo.theocc.com/infomemos?number=54517](https://infomemo.theocc.com/infomemos?number=54517) https://infomemo.theocc.com/infomemos?number=54529 https://infomemo.theocc.com/infomemos?number=54542 The change in deliverable and the new pricing formula are the critical parts. Your deliverable is still 100 shares, but also some cash as well, $68.11. The new pricing formula is: PBR1 = PBR + 0.6811 (provisional) So to figure out the moneyness of your PBR1 options, look up the post-distribution PBR share price (i.e., today's price) and add 0.6811. Then compare that dollar value to your strike price to determine if you are ITM or OTM. The other memos just clarify that the 0.6811 is provisional and might change. Everything else, like exercise and expiration handling, should work as expected.

BuffaloSabresFan

Anyone know what's going on with PBR? I have a few deep ITM LEAPS for PBR I routinely sell near dated higher strike calls against (PMCC). I logged into my brokerage and see PBR changed to PBR1 and the options chain for PBR is no longer available. I went to the OCC website and saw a few recent memos regarding an extraordinary dividend. Do I have to exercise? Will normal options return after this dividend? Currently hold $12C 1/16/2026 EXP. I feel like that's a lot of time premium to give up to exercise, but I don't see any trade volume, and I don't know what the implications are to not exercise, or what my options are here.

Horror-Praline8603

Just buy two stocks: NVDA and PBR. 

keyokenx1017

Dude who cares you own PBR? I love Pabst blue ribbon

Sabermoose

Damn your also invested in PBR. Solid choice

Dangerous-Estimate-7

I appreciate your suggestion will scope them out after a few beers and lines. and as little as I know about PBR I think she may be a unicorn 

Dangerous-Estimate-7

That’s beautiful, almost went yolo on PBR 15 or 14c June 21 hundreds of millions went into that exact position yesterday… Will go back to them next week. Theata 0 delta is 1.0 literally can’t beat

Peach_Garden_Oath

You hit that PBR trade yesterday?

Dangerous-Estimate-7

I want to go balls deep in PBR leaps

Appropriate_Meat2715

$PBR

Dangerous-Estimate-7

PBR. Not the beer!

anul88

PBR

Fausterion18

PBR.A, EC, RIG if you want to be adventurous. Not really for trading though.

Dangerous-Estimate-7

PBR leaps, just look at the volume on our 6/21 $15C 

JafarFromAfar2

$PBR had 2500% average options volume today with a put/call ratio of .01

Xoptikdesigns

Holy fook, look at those PBR calls - volume to OI. Someone knows something lmao. June 21 $15 - 246k volume, 19k OI. $12 95k volume, 7k OI. Wtf is going on there

Arcite1

There's no reason the contract "should" be valued around 2.20. PBR is at 16.86, so the only "should" statement you can make is that it should be worth at least 1.86 (its intrinsic value.)

purplecatfishbettie

PBR does look tight... nice

mbr902000

PBR is the only thing id buy and hold in this sector

Best_Day_3041

Sorry, PBR 15.00 EXP 12-20-24. The stock was up nearly 6% on Friday, would think that would spike the IV, but the options barely moved all day as the price was spiking, and at the end of the day my options were showing 5% down, while the stock is up over 15% from where I bought it. The spread is like .9/1.7, so I figured it was because there weren't enough buyers showing up? Thanks

bioinvest57

Inflation will be around just like the 70s when I first started to work. Commodities will do well. I bought in March PBR.A 14.2 20% dividend, EC 10.2 15% dividend, SBSW 4.2 PGM mining, TECK 43 copper

Haunting-Pizza-4553

PBR goes PBRRRRRRRRR

Haunting-Pizza-4553

Bought PBR.A on Friday just before close. Let's fucking go, I want to see the entire middle east on fire

Haunting-Pizza-4553

Bought PBR.A on Friday just before close. Let's fucking go, I want to see the entire middle east on fire

Appropriate_Meat2715

$PBR looks like a buy, what do you guys think?

Appropriate_Meat2715

Dame, the leaderboard refreshes hourly, let’s all buy $PBR

luciform44

Payout Ratio is the percentage of their profits that they have paid out as dividends. So a very high one would suggest that they might not be able to continue paying dividends at that rate, because if there is variability in their earnings... Annualized payout can be calculated a few ways, and really isn't a good metric for a company like PBR because their dividends vary. Often it is just their last quarterly dividend X4 for a total of what you should expect over the next year, or it is the total of what they have paid over the trailing twelve months, expecting the next year to be the same. Either of these work for AAPL, for instance, because they try to have a consistent dividend amount, slowly going up over time. For PBR, since every month/quarter/year is different, it doesn't make sense to extrapolate the past into the future..

Regarded-Mastodon

I have a thing for oiled up brazilian buts so going into PBR.

luciform44

For PBR, and most Brazilian companies, it's not a consistent dividend. They pay a different dividend each quarter (or not) as they decide what they can distribute. It's also one of the only ways to repay foreign investors, which is why there is constantly political pressure to stop them from doing so. Because of this they trade at an insanely low multiple, meaning their yield can seem super high at times. Other times, it might be zero for TTM. Or it can be 18% for the TTM, but zero for the next year, and you might be the sucker who buys into that thinking they are getting a huge yield. I did well with PBR in the past (collected 100% of initial investment in dividends alone, plus appreciation), but I am out for now.

BillPullman_Trucker

Energy Transfer, PBR if you're willing to tolerate some risk.

ASKMEIFIMAN

Take a look at PBR share price last time Lula was president and then read up on his relationship with the company.

Vonnanstine

Buy PBR

Mu_WhoAmI

Interesting but when Lula 1st presidency the price of PBR went from 4 dollar to 75 and by 2011 was 32 dollars

Most_Sir8172

PBR for that sweet one-time divided.

my_name_is_gato

Given the continued middle east wars and Venezuela's saber rattling, it makes little sense to slaughter a great dairy cow (PBR) for the meat (short term assets). If the investor knows what they are getting for $15, it could be seen as an amazingly tempting deal versus US companies with infinite P/E ratios, no meaningful dividends, etc. The safer play is something like Chevron where's there is far more stability due to size, diversity, etc, but buyers pay a huge premium up front for that and receive half the dividend at best. Fwiw, I'm a long term big oil holder and looking to open a position in PBR, ideally at a cost basis below $15 though I would personally still value the company at $18-$20/share.

curryshotz

No he wasn't comparing to the foreign stock, it is the dividend adjusted graph. Go to trading view on the PBR stock (which is the ADR) and click on "adj" to adjust the data for dividends, he posted a screenshot just below and I figured it was because of that so I went and checked. Yes reducing the payout is the reason why the stock is going the down the last 2 months obviously, but even if it goes to something like 10% it's still a lot compared to most huge companies like these, so it is something to be aware of, but it could also be an opportunity, just like when bolsonaro changed the CEO and the stock dropped 20% in one day, but that was a crazy good opportunity if you were aware of the risks involved. Brazilian state companies have a huge risk for sure, people should be aware how crazy they are, but they can also be a good play sometimes.

curryshotz

I believe the other guy is seeing dividend adjusted value and you're not. PBR payed $6.57 of dividends in 2022 alone, which by itself is already 63%. If you reinvested, the returns are way bigger then XOM or SHEL, but even if you didn't they still are. Dividends in Brazilian companies are a huge share of their returns and they're also not taxed, so it is something that differs from US companies that you may not have taken into account.

ImportantMatters

> $PBR has actually tripled in 2 years > $PBR was trading at 5.50 at the start of 2022, not sure what you’re talking about I'm not the other poster, but I'm quite shocked to see someone making bold statements like this and not being able to check the right price...

Appropriate_Meat2715

This is the $PBR ticker, the foreign stock is $PETR4

No-Champion-2194

No, it wasn't. It was trading at $11.02 on 1/3/22. I was eyeballing the chart before, actually PBR is up only 42% since then.

Appropriate_Meat2715

$PBR was trading at 5.50 at the start of 2022, not sure what you’re talking about

No-Champion-2194

>Neither Shell nor Exxon have doubled in a year, and $PBR has actually tripled in 2 years No. PBR is up about 55% since the start of 2022; XOM has doubled, and SHEL is up about 75%. PBR is a dangerous investment because it is subject to the government deciding to use all of its cash flow to fund pet projects instead of providing returns to shareholders. For this reason, it is much safer to invest in US or European energy companies, where the governments respect the property rights of investors. u/Medical_Goat6663 is trying to explain this danger to you - you should probably pay attention.

Appropriate_Meat2715

Neither Shell nor Exxon have doubled in a year, and $PBR has actually tripled in 2 years I am very well aware of the other points, not sure what the fuck you are all worked up about

Medical_Goat6663

1) Past performance is not indicative of future performance 2) have you checked the chart of PBR? 3) have you read about the brasilian government and how it is involved in PBR and other companies? 4) Do you know who's in charge now in Brazil?

Medical_Goat6663

PBR is so linked to the government that it is basically a bet on the government. And the Brasilian government is notoriously corrupt.  PBR is cheap for a reason.

HopefulGuy1

There's an ongoing row about the Brazil government cancelling extraordinary dividend payments last month, and there's potential for the CEO to be sacked as well, and no guarantees that the government will hike fuel prices in line with oil. Those are the main reasons why the stock is trading at a discount, and if you bet on PBR you're betting that the government will become less heavy-handed.

stuvida

Not a popular stock, but I wholeheartedly agree. In fact if anyone wanted is bullish to Oil I would recommend PBR, because you also get a double boost from it being an EM stock. Its valuation is ridiculously cheap Have been long since Jan 2021 (when it was $10)

bioinvest57

I used to think oil companies are doomed too until I saw this. https://ourworldindata.org/global-energy-200-years Oil was discovered in 1907 and after a decade, transportation and home heatingpowered by coal went by the wayside, except coal companies still prosper until 2015 as fuel for electric power plants. On top of oil as energy source, oil is the source of all the plastics we use. I bought PBR.A around 14.4 and EC around 10.4 last month, low P/E and high dividend.

baeconundeggz

Perfect bear world... 1. Israel gets attacked by Iran 2. The fire in the Gulf cuts supply from Pemex for longer. 3. Oil infrastructure is attacked bu Iranian proxies. 4. CPI on Wed comes in way hotter than expected. 5. Israel attacks Hezi in Lebanon. 6. Ukraine continues to attack Russian refineries. 7. Brazil president continues his socialist ways and take it out on PBR. 8. France puts troops into Ukraine. Could be an interesting week for the bers.

FishermanTasty7431

PBR

SunsetKittens

I think it's good to be in oil now. Oil that's far away from the hot spots. OXY in Texas I like. I think PBR in Brazil is really undervalued too - but I know that's even more controversial. But if oil goes *too* high that's bad news for stocks. That's reduced consumer spending. That's higher production costs. That's increasing the chances of stagflation. So ... nothing good I think. Iran attacks Israel and nothing good for the stock market. At best neutral. At worst an oil field gets caught in the crossfire. America would be smart to stay out of it. Don't know if that's the case though.

dub804543

PBR's CEO dismissal imminent

dub804543

Ton of 4/19 PBR 15 puts trades this morning. Thought they were bought at the ask, but not sure

Appropriate_Meat2715

$PBR

Diligent-Condition-5

Guess why they have so low valuations? In PBR the government is the controlling shareholder. In VALE they try to insert political partners in the board. There's a lot of governance risks implied. Besides that it's 2 cyclical companies with stock prices extremely related to commodities prices.

pkennedy

Just watch out. If you see oil taking off, sell Petrobras. It's a money printing machine, but if gas prices start going up, people complain. Those complaints lead to stepping in of political figures. I got burned on PBR a long time ago because of this. Now that I live in Brazil I can see what happened pretty easily, but from your side, you see nothing in the local news or how people are acting. So watch out. The real risk is that if they're forced to sell at a fixed rate, then profits obviously tumble.... but Brazil also imports a good chunk of refined fuel, so they're selling for X, while importing for Y... depending on what meddling has been done, the stock might be footing the difference... They've changed a few laws to stop this, but in reality, if oil jumps to $100+ they will find a way.

FxxMeAmFamous

Kindly correct me if am wrong but if I buy the ADR ticker symbol VALE/PBR the dividends and possible appreciation will be in USD. They are traded at the NYSE

JFSM01

AMZN, CVX , PBR , BRK , JPM , SOFI , RKLB Scared for the last two, but if they pull it it will leave me flying.

JFSM01

PBR only because its brazil? Otherwise doesn’t seem that risky for me

JFSM01

25% AMZN 20% CVX 20% PBR 15% JPM 10%Brkb 5% SOFI 5% RKLB

KeenStudent

When has the share price of a public listed company ever recovered post accounting fraud Less than 10 in recent history. AIG/WM/PBR to name a few. Even some of these name never fully recovered Luckin coffee being a chinese company makes a potential comeback even harder and riskier. No thanks

mitchlats22

PBR, I like the stock

BCECVE

Interest rates have dropped for 40 years so that is like riding a bike down hill. Howard Marks is suggesting we are seeing a Sea Change, where rates will now start to rise over a long period of time like from 1060 to 1982. That was a much more difficult time for people in general - goods are more expensive and we wanted pay raises to keep up. I think the employment structures are vastly different than 60-82. Employment is not in a good bargaining situation since machines can take over your job pretty easily. Add on the amount of debt everywhere and climate change and the next ten years are not going to be incredibly difficult. Maybe more like riding a bicycle up hill instead. Me- age 68, well off, and still working, think a better bet is to look more at income producing investments. As an example of a few I own (I am willing to do lots of research and take on additional al risk: EC, PEY (Peyto), PBR, SACH, LUG, TAL (petrotal), FLNG No banks (I can't determine risk), bur of course MSFT, GOOG, AMZN which will go up regardless of rates. Just my thoughts - stockbroker 40 yrs. Do your own research.

IntentionDeep651

just buy PBR at least there isnt war going on

Jamesyoder14

Probably a little PBR and a little ADBE p.s. I hate money

AstronomerEffective1

So if you saw my other thread on investments you know they're not invested in Tyson nor are my other holdings such as ET, PBR etc. Homeland security estimates $480+ Billion to take care of this invasion that should be used to help Americans.

Morph_Kogan

Growth always out performs any dividends unless you wanna just own PBR and play that risk lol

lescoobs

PBR.A share holders how are you feeling about the company?

Less_Minute_8666

Been in PBR I think since about 2021. I just bought more. I'm a big believer in this company. All you really have to do is pay attention to oil which has been unusually stable. If oils stays here PBR will be more than fine. The stock I believe is in a secular climb. I do not think the leftist govt. poses much of a risk other than they might force some investments into less profitable enterprises. But that might also pay off when oil prices go low. The valuation is simply too good.

surfinbird

And then 5 PBR tall boys at night

leraning_rdear

Probably not an optimized trade with Brazilian govt intervention on dividends of PBR. That impacted RIO underlying but here is what transpired. 2/15 buy 3/15 call $55 for $1250.68 2/15 sell 3/15 call $65 for 309.35 Idea was to make $0.58 on investment of $9.42 ($12.51-3.09) over the 29 days. If it expired in the money would net 0.58. If expired under $65 end up owning at $64.42. Then sell calls. If expired under $55 then lose $9.42. Bought closing call on $65 for $0.46 on 2/28 and exercised $55 call to take stock on 3/1. 3/8 Dividend $2.58 is being processed. Other than impact of Brazilian govt market intervention, open to learning from your analysis.

Shuikai

I don't know how popular what I think really is right now, because people are human you know, probably the popular thing would be to recommend buying $5K worth of SPY, but I don't think it'd be a great idea for a few reasons. Basically my thesis is quite simple. Federal funds rate up + big bubble = bad in the long term. Who knows, maybe this will be the first time in history where something bad doesn't happen right after they up and then lower the rates, but my guess is probably not. I think there is going to be a recession coming, which might take a year or two, who knows, maybe Nancy does but I sure as hell don't. So here is what I would do for her, as a safer more conservative option to ensure her investment doesn't end up a bag holder: * Set yourself up with an online broker. * Buy T-Bill ETF like $BIL or $TFLO. * Create an alert that will e-mail you when the price of NVDA shares drop <$600 USD. This will tell you when the AI bubble is popping. * Watch the markets carefully and get ready to buy some things you want. Create some buy orders with limit until cancelled with a low price that you think things might fall to, so it'll just automatically buy when everything is puking and all the trading softwares are being DDoS'd and nobody can get in. * Buy whatever you want but if you ask me I'm a bit nervous about going all in on passive invest S&P 500 ETFs. I think things are going to be a bit different over the next 15 years than they were over the last 15 years. I'd probably look at what stocks are winners right now, and then buy them when they're cheap, and then also see if there are any dividend stocks that might be a great deal. $MSFT is always a good one since they got a monopoly and lots of business use, I'm also looking at $PBR and $TM.

felipesizzosmoes

PBR is fucking trash but there is something about a $2 PBR and a cigarette at a bar that still allows smoking indoors

Justzyn_Jefferzyn

If you’re drinking a light beer, PBR forever and always. Something about a cold Pabst, so smoothly crisp 

luciform44

Cut your losses? Did you just buy it? Zoom out! It's been printing money. I have had PBR for 3 years and it's paid me more in dividends than my principle and is still up almost 100%. If you're view of the company was that short to begin with, you should DCA into VTI and not worry about picking stocks, because you're a weak hand easily shaken out.

qw1ns

>should I just cut my losses on next market open? Why follow price action when you invest? You should read their quarterly report and understand the details. I have been waiting for PBR to drop like this to catch the falling knife. Any way, I bought some PBR today 25% of my allocated amount and keeping balance 75% in case if it dips further. In short, EPS slightly lower than market expectation and board has cut the special dividend (last qtr $0.17) but regular dividend increased from $0.37 to $0.44. Essentially, market is not happy about dividend cut and aligning to EPS reduction(cum dividend reduction). Still, PBR gives considerably better and I am trying to bottom fishing, but do not know whether I am right or wrong !

bro-v-wade

Contrary to what u/cruztd23 is saying, PBR was masquerading as a blue chip by paying enormous dividends to its holders which turned it into a universal must hold. Now that it removed that facet of its appeal, I think it will behave more like a company than a globally recognized financial asset. For an investor class looking for dividend based income, PBR stood alone. Today, it's another dividend stock in a gargantuan pile.

thenuttyhazlenut

Cut your losses. It will likely only get worse. 1/3 of PBR's revenue is from China, and China's economy is in a major downturn. I anticipated this would happen when I bought at $10 and sold at $15.50. If you just skimmed through the 10k filing you could have seen this coming by just being informed of what's happening in China, and seeing how dependent this company is on China.

thenuttyhazlenut

Cut your losses. It will likely only get worse. 1/3 of PBR's revenue is from China, and China's economy is in a major downturn. I anticipated this would happen when I bought at $10 and sold at $10.50. If you just skimmed through the 10k filing you could have seen this coming by just being informed of what's happening in China, and seeing how dependent this company is on China.

This_Guy_Fuggs

GOOG AMAT GS HSBC TM PBR (definitely not great, but at least cheap, still) ALB and the riskier but cheaper SQM

lescoobs

PBR.A shareholders, what are your thoughts on the stock long term after the dividend news today?

Fritzkreig

So like the cheap beer, is that what PBR is?

jhakasbhidu

What do you think about PBR, I need to make a Brazilian dollars fast

jhakasbhidu

Will PBR calls print a brazilian dollars?

jhakasbhidu

Who is playing PBR tomorrow?

jbasket444

So company announces a dividend. It is a direct cash payment to share holders at a certain % of the stock price. Typically, they announce a date where a "snapshot" is taken of who is holding what shares to receive the dividend, then couple weeks later, the deposit is made within the accounts. So you could buy shares a day before the snapshot date, then receive the dividend. For tax reasons, this may not make sense. However, typically, shares will retreat after the dividend snapshot day, as people sell off after receiving them. A good example of dividend price action is PBR. Take a look at their chart and dividend dates, let me know your interpretation. Disclaimer with RILY it may not follow normal protocol because of the short positioning. Make sense?

FlyingDesertLion

PBR calls. Brazilian Energy giant that has been involved in many corruption scandals in the past. They used to pay 65% of FCF as dividend but now gonna pay 45% only and invest in green energy perform share buybacks. What’s not to like 😄!

Wild-fqing-Rabbit

1. Super monetary easing policies. Negative interest rate. In Japan the policy interest rate is -0.1%. 2. Weak JPY makes the prices cheaper for foreign investors. 3. There are a lot of listed companies with PBR less than 1 and last year Tokyo stock exchange made a request that listed companies improve their stock price performance. 4. Finally inflation after more than 30 years of stagflation.

jefgeeraerts_1983

This topic is one year old now. I'm still contemplating iShares MSCI Brazil ETF ( EWZ ). I looked at PBR (Petrobras) and JBS SA (largest meatpacker in the world) about a year ago. Those were insane low P/E's. In hindsight I should have invested. Your opinion: are Brazilian P/E's and hence iShares MSCI Brazil ETF still attractive?

Odd-Block-2998

OP, apart from PBR.a, EC, ABR, and ARCC, which dividend stocks will you add on this time?

Fausterion18

> Correlation is related to Price Action, not to Shares Price Peformance or Dividend Yield :P > >*You can measure the Correlation with a Correlation Matrix or Correlation Coeffcient (CC)* You can't be this fucking regarded, even without dividend PBR is up 50% vs oil/OXY both of whom are flat. > More Leverage does not mean "Overvalued" as you try to Express. > >Undervalued or Overvalued measures are Related to Earnings (EPS) and the ability of the Business to generate Free Cash Flow ;) Good thing I didn't just mention leverage, I mentioned lifting cost, ROC, replacement ratios, etc. OXY's PE ratio is fucking 15 vs industry average of roughly 11. Why the fuck would I buy this overpriced piece of shit with the worst assets in the industry and one of the worst debt ratios in the industry when I can buy PBR at 5. Which is more overvalued? Goddamn you're stupid.

DyehuthyTV

>False. For example oil is flat yoy, OXY is similarly flat, while foreign majors like PBR are up 70%+ including dividends. Correlation is related to Price Action, not to Shares Price Peformance or Dividend Yield :P *You can measure the Correlation with a Correlation Matrix or Correlation Coeffcient (CC)* >Except your whole OP is talking about how OXY is undervalued compared to peers when it's the literal opposite. It has the worst ROC it has the worst lifting cost, it has one of the highest leverage, it has among the worst replacement ratios. More Leverage does not mean "Overvalued" as you try to Express. Undervalued or Overvalued measures are Related to Earnings (EPS) and the ability of the Business to generate Free Cash Flow ;)

Fausterion18

> 1- But all Big Names on the Oil Industry have a high correlation with Oil Prices ;) > >Of course, if you go to Small-Caps or Nano-Caps on this industry the Correlation can disappear. As in any other Industry or Sector. Yes, but none are as levered as OXY and none of lifting cost as high, which means they don't go down as much when oil prices drop. False. For example oil is flat yoy, OXY is similarly flat, while foreign majors like PBR are up 70%+ including dividends. &#x200B; >2- More ROC not always means more Return (%) in the Shares Price of the Company. What ROC tell us it's only how Efficient is the Company with his Capital. > >Its important? Of course it is! > >**But this Ratio is not a Crystal Ball :P** > >You can have a Business (Stock) with an ROC of 40% for a long time, as long as this maintain Profit Margins higher, which is really what matters. So, making an investment based solely on the amount of ROC you currently have is quite dangerous. ;) Except your whole OP is talking about how OXY is undervalued compared to peers when it's the literal opposite. It has the worst ROC it has the worst lifting cost, it has one of the highest leverage, it has among the worst replacement ratios.

Hormozi

So something like PBR is better then?

FNFactChecker

PBR is up 100% since I bought it in late 2022 and another 20% in dividends on my purchase price. EC I bought in the low $9s at the same time, and she's given me \~25% gain on the underlying and 35% in dividends. Is SPY at $825? Because that's where it would have to be to outperform PBR, you absolute moron.

FNFactChecker

*Laughs in PBR.A and EC* 

Ok-Green-9461

Currently have LLY,PBR,HLT,GE This good or bad ? As a beginner

Saaan

I'm using PBR for the oil trade.

surfkaboom

PBR calls