EPTOn January 28 2021 09:17 KwarK wrote:
I bought a pair of 1/29/21 150p contracts earlier today which may actually print.
I bought a pair of 1/29/21 150p contracts earlier today which may actually print.
Did you keep till expiration or sell yesterday?
Trading/Investing Thread - Page 59
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RvB
Netherlands6294 Posts
Did you keep till expiration or sell yesterday? | ||
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Emnjay808
United States10665 Posts
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LegalLord
United States13779 Posts
On January 30 2021 03:40 maybenexttime wrote: Does what WSB did constitute market manipulation? I find the definition I found problematic. It says that it's an action that attempt to deviate the market price of a security from the true price. How do you determine what the true price is, though? It'd be hard to pin any specific wrongdoing on the WSB folks for market manipulation, though it will definitely make people ask if something needs to change to prevent this from happening again. On some level it is just a bunch of individual people who all talk publicly and say "buy this stock because it's going up!" The way that people were locked out of buying new GME stock is much more obviously market manipulation since it was a coordinated attempt to change the stock price by large organizations with a much clearer paper trail and material impact. | ||
FlaShFTW
United States10528 Posts
On January 30 2021 03:53 Emnjay808 wrote: From what I gathered the spike in stocks happened because hedge funds have been shorting GME up to 140%. If they stayed below 100% then it wouldn’t be spiking this hard? Something like that yes, if the shorts still have enough willing sellers of the stock out there, then the price is lowered because more supply and less demand. Because the short position is so large, over 100%, and WSB is basically just diamond handing til the end of the world, the supply is very VERY small, some Youtube channels are predicting something like close to 10% of the shares in GME are actually able to be sold right now, meaning supply is virtually nonexistent and the demand is huge because those margin calls are going to start biting the hedge funds in the ass. | ||
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Vivax
22407 Posts
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Blitzkrieg0
United States13132 Posts
On January 30 2021 04:48 LegalLord wrote: It'd be hard to pin any specific wrongdoing on the WSB folks for market manipulation, though it will definitely make people ask if something needs to change to prevent this from happening again. On some level it is just a bunch of individual people who all talk publicly and say "buy this stock because it's going up!" The problem is a bunch of shitcoiners have caught onto this and are trying to pump all their stupid crypto now. Not really a regulatory action required sort of thing just annoying to read. | ||
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Sermokala
United States14159 Posts
On January 30 2021 03:40 maybenexttime wrote: Does what WSB did constitute market manipulation? I find the definition I found problematic. It says that it's an action that attempt to deviate the market price of a security from the true price. How do you determine what the true price is, though? Its no different than hedge fund managers going on cable news to talk about stocks, not disclosing their positions, and just passing themselves off as "unbiased experts". Its only market manipulation to people because the rich are losing money from this. | ||
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Sbrubbles
Brazil5776 Posts
On January 30 2021 03:40 maybenexttime wrote: Does what WSB did constitute market manipulation? I find the definition I found problematic. It says that it's an action that attempt to deviate the market price of a security from the true price. How do you determine what the true price is, though? I'm not sure what the legal definition of market manipulation is, but I doubt it makes any reference to "true price" because, as you say, how do you determine true price anyway? I'm not even sure if "market manipulation" is the correct legal term tbh. As a more general concept, a quick google search got me into an SEC presentation that defines market manipulation as: 1) Intentional or willful conduct designed to deceive or defraud investors by controlling or artificially affecting the price of securities 2) Intentional interference with the free forces of supply and demand Number 1 would be difficult to pin on WSB, unless you were able to find the first few posters that created the phenomenon and showed that they were heavily invested in GME (which would caracterize it as a traditional "pump and dump" scheme). Number 2 is awfully vague, but sure, it would apply to what WSB did (calling people to purchase a stock for the memes or to stick it to the man or something of the sort). | ||
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[-Bluewolf-]
United States609 Posts
Simply unbelievable to me how rigged the markets are. With the various limitations, trade volume was only half of a usual day and likely shaved at least $100 of the share price to help hedge funds in the end. At least this will cause Robinhood to be the new MySpace when people abandon the platform. Source: https://www.cnbc.com/2021/01/29/robinhood-is-still-severely-limiting-trading-gamestop-holders-can-only-buy-one-additional-share.html EDIT: Image of what this change did to the price and volume: + Show Spoiler + ![[image loading]](https://i.redd.it/kbp7f07eobe61.png) | ||
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maybenexttime
Poland5838 Posts
I think I have to agree with your interpretation. | ||
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FiWiFaKi
Canada9859 Posts
On January 30 2021 05:42 Vivax wrote: Looks like twitter + wsb discovered silver. Smart to hold it anyway when there's an ongoing campaign against cash. Think I'll add on too if this goes mainstream. I'd advice against it, we're at really high historic silver prices, just twice was it more expensive during a massive rushes that briefly spiked the price. Wsb likes to do it with corn when it goes up by 30%, and they did the same thing with silver at the end of its run up a few months ago. They did it when steel was at peak prices too with steel in early January. Also they'll talk about silver rather than gold or platinum (which I'm more optimistic about), because 95% of the subreddit doesn't have enough to buy a full ounce. | ||
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{CC}StealthBlue
United States41117 Posts
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LegalLord
United States13779 Posts
This week’s bizarre “meme stock” rally, which has delivered lottery-like windfalls for holders of GameStop stock, also wiped out $600 million in debt owed by the AMC theater chain. That’s because, on Wednesday, a private equity firm named Silver Lake — and private equity firms are popularly considered the “bad guys” in this snobs-versus-slobs drama — elected to convert the corporate bonds it held into AMC Entertainment Holdings stock. Although the theater chain’s stock price has tumbled and soared since the move, the debt relief is permanent. Just Monday, AMC was warning investors that “there is substantial doubt about our ability to continue as a going concern.” The reason is obvious: the COVID-19 pandemic has savaged the movie theater business, and the broader stimulus, payroll, and recovery actions by the U.S. government have done little to prop it up. Wiping out more than half-a-billion dollars in debt, though, should take a lot of pressure off AMC in the short term. “A week ago, it was not crazy to think this company was doomed,” Bloomberg’s Matt Levine wrote on Thursday. “Now it is entirely possible that it will survive and thrive and show movies in movie theaters for decades to come because everyone went nuts and bought meme stocks this week.” Theaters aren't big business, but I'd be really upset to watch the local movie theaters go bankrupt with no recourse. That's a nice lifeline. | ||
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GoTuNk!
Chile4591 Posts
On January 30 2021 04:48 LegalLord wrote: It'd be hard to pin any specific wrongdoing on the WSB folks for market manipulation, though it will definitely make people ask if something needs to change to prevent this from happening again. On some level it is just a bunch of individual people who all talk publicly and say "buy this stock because it's going up!" The way that people were locked out of buying new GME stock is much more obviously market manipulation since it was a coordinated attempt to change the stock price by large organizations with a much clearer paper trail and material impact. Texas AG going after this crooks https://thetexan.news/texas-attorney-general-launches-investigation-into-robinhood-over-gamestop-trading-debacle/ | ||
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Vivax
22407 Posts
On January 30 2021 07:36 FiWiFaKi wrote: I'd advice against it, we're at really high historic silver prices, just twice was it more expensive during a massive rushes that briefly spiked the price. Wsb likes to do it with corn when it goes up by 30%, and they did the same thing with silver at the end of its run up a few months ago. They did it when steel was at peak prices too with steel in early January. Also they'll talk about silver rather than gold or platinum (which I'm more optimistic about), because 95% of the subreddit doesn't have enough to buy a full ounce. It's happening anyway, the official online coin dealership here is limiting silver ounces per purchase to 30. Wasn't like that when I bought a stack in March or April last year. But yeah gold is better for larger sums as it's VAT-free. Typically you don't see dealers limiting purchases when there's enough supply. That implies that the low price is synthetic, otherwise they could just raise it? | ||
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LegalLord
United States13779 Posts
On January 29 2021 23:11 LegalLord wrote: Though I’m too wimpy to actually try to play the GME, I at the very least plan to drop Robinhood as a result of this. It’s the final straw for this terrible platform that has always failed me when it mattered. Initiated the transfer. I only regret that I didn't do this back in March or one of the many other times when Robinhood proved to be a garbage platform. Been sitting on this one even though I was displeased enough with RH that I was no longer willing to add more money to my account. | ||
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BlackJack
United States10574 Posts
On January 30 2021 05:42 Vivax wrote: Looks like twitter + wsb discovered silver. Smart to hold it anyway when there's an ongoing campaign against cash. Think I'll add on too if this goes mainstream. I bought 850 shares of SLV in June at 16.63. Up 50% since then which is fine but seeing people on wsb talk about it is making my peepee tingle even though I have no idea if anything will happen | ||
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iPlaY.NettleS
Australia4429 Posts
On January 30 2021 05:55 Sermokala wrote: Its no different than hedge fund managers going on cable news to talk about stocks, not disclosing their positions, and just passing themselves off as "unbiased experts". Its only market manipulation to people because the rich are losing money from this. You can't expect good advice from MSM TV talking heads. Take for example this classic clip of Jim Cramer advising a viewer not to sell Bear Stearns days before the stock completely collapsed in 2008 - "Bear Stearns is fine" "Do not move your money from Bear, that would be Silly" Kramer himself admitted later he did this because he didn't want to cause a panic sell.You can see his point but it was still bad advice and a huge credibility hit. | ||
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Sermokala
United States14159 Posts
On January 30 2021 14:17 iPlaY.NettleS wrote: You can't expect good advice from MSM TV talking heads. Take for example this classic clip of Jim Cramer advising a viewer not to sell Bear Stearns days before the stock completely collapsed in 2008 - "Bear Stearns is fine" "Do not move your money from Bear, that would be Silly" https://youtu.be/gUkbdjetlY8 Kramer himself admitted later he did this because he didn't want to cause a panic sell.You can see his point but it was still bad advice and a huge credibility hit. Why someone who plays with peoples money like it's an entertainment show had any credibility to begin with will blow my mind. He still has a show 18 years after that goes to show a lot about the rest of the network. | ||
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iPlaY.NettleS
Australia4429 Posts
On January 30 2021 13:54 BlackJack wrote: I bought 850 shares of SLV in June at 16.63. Up 50% since then which is fine but seeing people on wsb talk about it is making my peepee tingle even though I have no idea if anything will happen Could start happening next week as the GameStop situation cools but it's more complicated and a far larger market than GameStop shares. Are they buying then holding SLV to try and hurt the shorts or buying SLV then demanding delivery to try and fuck up the COMEX and decouple the paper/physical price? Only around 1% of COMEX futures are delivered in silver metal.Would they have enough physical to cover mass standing orders?It would be pretty incredible if they could pull it off. Personally I don't buy paper silver futures, I own a little physical silver and $20k mining shares.If there's any momentum behind it I'll pick up more from the mint, do my bit to reduce the supply available.Good luck to them. He still has a show 18 years after that goes to show a lot about the rest of the network. CNBC no less, have seen several more amusing clips from them the past week. | ||
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