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Bank Leumi Le-Israel (OTC:BLMIF) Stock, Option Chain

Bank Leumi Le-Israel BM is an Israeli banking and financial services company. The products and services offered by the company include consumer loans, mortgages, commercial banking services, and capital market services, among others. The company organizes itself into below operating segments: Banking; Mortgages; Commercial; Corporate banking; Real estate; Capital markets and Others. The company generates the majority of its revenue through the provision of banking and services to private customers and small businesses, and a vast majority of its revenue is earned in Israel.

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iShares MSCI Israel Capped Investable Market Index Fund

Study reveals traders potentially profiting from foreknowledge of terrorist attacks, raising ethical and legal questions., unusual short selling and open interest in Israeli stocks and ETFs before the attack.

Did Hamas &#39;Insider Trade&#39; Their Israel Attacks? Researchers Uncover Unusual Stock Activity Ahead Of October 7 War

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Bank Leumi (OTC: BLMIF) (LUMI.TA) will become the first Israeli bank to enable cryptocurrency trading, its digital platform Pepper Invest said on Thursday after partnering with U.S. blockchain firm Paxos.

Leumi Israel&#39;s Second-Largest Bank to Offer Bitcoin and Ethereum Trading

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Bank Leumi Le-Israel BM (OTC: BLMIF) is reportedly in discussion on the potential sale of its U.S. banking division.

Israel&#39;s Bank Leumi Considering Sale Of US Unit: Report

BANK LEUMI LE ISRAEL by Bank Leumi Le Israel

Bank Leumi Le-Israel BM

An academic study by New York University&#8217;s Robert J. Jackson, Jr. and Columbia University&#8217;s Joshua Mitts published on Dec. 4 uncovers a troubling pattern in the financial markets: traders potentially capitalizing on <a href="https://www.benzinga.com/topic/israel">foreknowledge of terrorist attacks.</a>
The study meticulously documents unusual trading patterns in Israeli company stocks and ETFs before the Hamas attack on Oct. 7, 2023, raising serious ethical and legal concerns.
<h2 class="wp-block-heading">Unprecedented Short Selling Activity In Israel-Linked Stock ETF</h2>
Researchers revealed that the iShares MSCI Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIS#NYSE">EIS</a>) witnessed a significant and atypical surge in short selling just five days prior to the Oct. 7 attack. 
This phenomenon was not just statistically unusual but also economically significant, with nearly all off-exchange trading volume on Oct. 2 reported to FINRA consisting of short selling, as the study showed. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="848" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04134329/Screenshot-2023-12-04-alle-17.43.13-1024x848.png" alt="" class="wp-image-155022" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04134329/Screenshot-2023-12-04-alle-17.43.13-1024x848.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04134329/Screenshot-2023-12-04-alle-17.43.13-300x248.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04134329/Screenshot-2023-12-04-alle-17.43.13-768x636.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04134329/Screenshot-2023-12-04-alle-17.43.13.png 1254w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Jackson, Jr., Robert J. and Mitts, Joshua, Trading on Terror? (December 3, 2023). Available at SSRN:&nbsp;<a href="https://ssrn.com/abstract=4652027" target="_blank" rel="noreferrer noopener">https://ssrn.com/abstract=4652027</a>
<h2 class="wp-block-heading">Rise In Short Interest On Domestic-Traded Israeli Stocks, Sharp Increase In Put Options</h2>
The study also found that a significant rise in short interest was observed in the Tel Aviv Stock Exchange (TASE) right before the attack. However, the trend was not mirrored in Israeli companies on U.S. exchanges.
In a specific case, Bank Leumi (OTCPK: BLMIF) experienced substantial short selling activity, where 4.43 million new shares were sold short from Sept. 14 to Oct. 5. This trading activity led to profits or potential avoided losses estimated at 30 million NIS, highlighting just one instance among hundreds of securities traded on the TASE. 
The researchers also point out a substantial increase in open interest for risky short-dated options contracts on Israeli firms traded on U.S. exchanges. Due to the nature of the option trading, these type of products were most likely to yield a profit immediately after Hamas&#8217; attacks on Oct. 7, 2023. 
The study contrasts two sets of options on Israeli stocks: one set expiring on Oct. 13 and the other expiring after that date. Initially, both groups displayed similar levels of open interest in early September. However, as the date of the Hamas attack approached, a significant divergence in the trends became evident. 
Specifically, the open interest for options expiring on Oct. 13 skyrocketed, showing an increase of over 500% before the attacks. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="802" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04135702/Screenshot-2023-12-04-alle-17.56.48-1024x802.png" alt="" class="wp-image-155024" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04135702/Screenshot-2023-12-04-alle-17.56.48-1024x802.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04135702/Screenshot-2023-12-04-alle-17.56.48-300x235.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04135702/Screenshot-2023-12-04-alle-17.56.48-768x602.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/04135702/Screenshot-2023-12-04-alle-17.56.48.png 1294w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Implications And Recommendations From The Authors</h2>
Should society incentivize disclosure of such critical information to prevent tragedy? The authors propose replacing trading profits with different rewards for traders who report such information to authorities.
The study not only calls for a stringent review of market regulations and ethical standards to prevent the exploitation of sensitive information for financial gain, especially when it concerns matters of national security and human life. But it&#8217;s also a wake-up call to address a potentially dangerous loophole in the intersection of finance and global security.
Now Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/23/12/36075348/golds-record-high-why-havent-gold-miners-followed-suit">Gold&#8217;s Record High: Why Haven&#8217;t Gold Miners Followed Suit?</a>
Photo: Shutterstock

Did Hamas 'Insider Trade' Their Israel Attacks? Researchers Uncover Unusual Stock Activity Ahead Of October 7 War

Bank Leumi (OTC: <a class="ticker" href="https://www.benzinga.com/stock/blmif#OTC">BLMIF</a>) (LUMI.TA) will become the first Israeli bank to enable cryptocurrency trading, its digital platform Pepper Invest said on Thursday after partnering with U.S. blockchain firm Paxos.
It said the new service will allow Pepper Invest customers to buy, hold and sell cryptocurrencies -- limited to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), for now -- in transactions worth at least 50 shekels ($15.49).
The statement gave no launch date, saying regulatory approval is pending. Leumi is one of Israel&#39;s two largest banks.
Bank Leumi&rsquo;s decision to allow crypto trading follows a select number of banks across the world doing the same. Australia&rsquo;s Commonwealth Bank in November 2021 announced that it would allow its customers to trade crypto on its platform, which was a first for the continent.
Banks have slowly come around to the idea of allowing crypto-related features on their platform. For a long time, they have shied away, with some even going so far as to criticize the market and call it a fad. Now, small banks and institutional ones alike have been taking to crypto.
Incumbent institutions do not want to miss out on the benefits that decentralized technology has to offer. Furthermore, newer platforms like Coinbase and Robinhood have had them scrambling to innovate and keep up.
According to the Israel Tax Authority, the use of cryptocurrencies in Israel is considered a means of virtual payment and subject to taxation. However, the start of Bitcoin and Ethereum trading by Bank Leumi in Israel is a remarkable step towards crypto adoption.

Leumi Israel's Second-Largest Bank to Offer Bitcoin and Ethereum Trading

Bank Leumi Le-Israel BM (OTC: <a class="ticker" href="https://www.benzinga.com/stock/blmif#OTC">BLMIF</a>) is reportedly in discussion on the potential sale of its U.S. banking division.
What Happened: According to a <a href="https://www.bloomberg.com/news/articles/2021-05-04/israel-s-bank-leumi-is-said-to-weigh-sale-of-u-s-bank-arm">Bloomberg</a> report citing unnamed &ldquo;people familiar with the matter,&rdquo; the Israeli bank is working with a financial advisor&nbsp;to coordinate the sale of Bank Leumi USA, which has $7.2 billion in assets, $6 billion in deposits and offices in New York City, Chicago, Los Angeles, Palo Alto,&nbsp;and Aventura, Florida.
Bloomberg&rsquo;s sources stated Bank Leumi USA could fetch a $1 billion sale. Sources&nbsp;also said the bank might consider an initial public offering for the U.S. division, or it might decide to retain the business.
See Also: <a href="https://www.youtube.com/watch?v=rqYH8pgQeQ8">Benzinga Stock Market Live: Doge vs Ethereum</a>
Why It Matters: Israel&rsquo;s banking industry is relatively small and tightly controlled. According to the Israeli news outlet <a href="https://themedialine.org/life-lines/business/israels-open-banking-reform-takes-first-step/">The Media Line</a>, Bank Leumi and rival Bank Hapoalim BM (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bkhyy#OTC">BKHYY</a>) control 61% of the nation&rsquo;s banking market.
Despite its dominance at home, Bank Leumi had been severely impacted by the economic trauma of the COVID-19 pandemic. The lender&rsquo;s 2020 profit of $642 million represented a 40% year-over-year plummet, while its loan loss expenses quadrupled to $780 million.
Israeli&rsquo;s traditional brick-and-mortar banking is also facing a new challenge from fintechs.
In March,&nbsp;First Digital Bank, an online exclusive lender, became Israel&rsquo;s first de novo bank since 1978. Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is introducing its Apple Pay digital wallet to the Israeli market this month &mdash;&nbsp;and, in doing so, taking control of the iPhone market.
Bank Leumi and Bank Hapoalim introduced their own digital wallet services earlier this year, but those are only accessible on Android devices.
(Photo courtesy of Bank of Israel.)

Israel's Bank Leumi Considering Sale Of US Unit: Report

Israel's bank, Bank Leumi Le Israel (OTC: <a class="ticker" href="/stock/blmif#OTC">BLMIF</a>) posted a fourth-quarter loss. 

Bank Leumi's net loss for the quarter came in at 259 million shekels ($70 million), versus a net profit of ILS618 million, in the year-ago quarter.

Earnings

Bank Leumi Posts Q4 Loss

Bank Leumi Le Israel (OTC: <a class="ticker" href="/stock/blmif#OTC">BLMIF</a>) reported a decline in its net profit in the first quarter.

Its quarterly net profit fell to 431 million shekels ($112 million), versus ILS554 million, in the year-ago quarter.

Its revenue fell to ILS3.2 billion, from ILS3.1 billion.

Bank Leumi Posts Decline In Q1 Net Profit

Bank Leumi Le-Israel BM (OTC: <a class="ticker" href="/stock/blmif#OTC">BLMIF</a>) reported a drop in its 2011 net profit. 

Bank Leumi's net profit last year declined to 1.89 billion shekels ($507 million), versus ILS2.33 billion in 2010. Bank Leumi's banking income fell to ILS7.55 billion from ILS7.43 billion. 

Bank Leumi's fourth-quarter net profit rose to ILS618 million, versus ILS496 million, in the year-ago period.

Bank Leumi Posts Decline In 2011 Net Profit

Bank Leumi Le Israel (OTC: BLMIF) announced its plans to lower 800 jobs over the next three years.

The bank will cut around 300 jobs this year.

Bank Leumi To Lower Jobs

Bank Leumi le-Israel B.M. FY 2023 GAAP EPS of NIS 4.58

Bank Leumi le-Israel B.M. reports Q1 results

Bank Leumi le-Israel B.M. GAAP EPS of NIS 1.51

Bank Leumi Le-Israel Ltd ( ($BLMIF) ) has released its Q3 earnings. Here is a breakdown of the information Bank Leumi Le-Israel Ltd presented to it...

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