Description of why you are requesting DD: I saw the news piece on Panasonic opening a facility for TSLA, when I went to view TSLA and Panasonic side by side to watch what kind of news action it caused, I was very surprised to find Panasonic not directly listed on American exchanges. This led to me finding it was being sold OTC as an ADR called PCRFY, ADRs being something I hadn’t really heard much of til mentioning it on TF which prompted me to read the basics on them.
So it seems ADRs (American Depository Reciepts) and GDRs (Global Depository Reciepts) in really really basic terms are banks buying stock on Forex and repacking/reselling it themselves, they seem to be offered mostly as OTC shares (Panasonic’s was) though it sounds like they can have options too. Will look around a bit more to see what exactly is offered out there.
So that line of thought circled back around to the big bank earnings next week after they got mentioned on TF and whether or not there would be any ADRs and/or GDRs that’d be worth looking into playing for those ERs coming up next week. My thoughts are if the banks are the issuers, their earnings would affect the ones they’ve issued, though that may also be backwards, some back testing against previous ERs will be needed to be done before the next round on any of these ADRs/GDRs that might be found as potentials.
Acknowledging now that it’s probably easier to just play the banks themselves, thinking with strangles if at all for safety, but still thought I’d toss the idea up as I somehow doubt I’m the first person to have had this ADR thought haha. Will keep looking at what exactly is even offered on this front in the meantime, will post if I find something that could have potential