New York Community Bankcor Inc. (NYCB-N)

Shares are plunging 22% on more inner turmoil. It's troubling. They're not managed well. Troubling that NYCB bought a company recently and the Feds didn't pick up on the company's woes. Avoid regional banks and buy the big, established ones like JPM.

NYCB tried to calm investors today, but also at the same time said it was exploring asset sales. These situations are often binary. Either it survives, and the stock doubles, or more, or it goes to zero. We would consider any long position in options as exceptionally risky, essentially a lottery ticket. The stock is at 27 year lows. One thing to remember in the banking sector is that it runs on confidence. If confidence goes, the company often follows. We would not endorse such a trade unless one just wants a pure 100% speculation with money they don't care about. 
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Last week she was going to sell this, but this morning she woke to see the game has completely changed. (Shares soaring 32%.) One bank's loss is another's gain. Signature Bank is hugely accretive to NY Comm's earnings with total book value rising 15%. NY is paying down debt, reducing reliance on costlier wholesale borrowing and the yield is capital neutral, so there's no need to raise capital.

Don't be awed by their 10% yield. Pay more attention to the principal, which could go down.