everybody on ilx complains about reddit

end times

Fully agree. 👇 https://t.co/rW38zfLYGh

— Ted Cruz (@tedcruz) January 28, 2021

Yerac, I am on the side of the little guy screwing over wall street aa much as possible, but the idea that wall street was just going to let this happen is laughable.

wall street being very publicly exposed as bad actors here is a good thing

no one thought it would be easy? But this happens with a lot of stocks (short and gamma squeezes, funds manipulating prices) and no one usually cares beyond a day.

my ex-gf sold her .27 share when it got down to $225 but it executed at $2600

― Joe Biden Stan Account (milo z), Thursday, January 28, 2021 11:23 AM (forty-nine minutes ago)

what does this mean?

I assume the market manipulation is a constant, but now you've got a compelling media narrative (Reddit vs the Hedge Funds) and people are paying attention. I've had a brokerage account for 25 years and I've never seen a stock be made available to sell but not buy... how often does that happen?

never. unless it's about to be delisted or something.

i mean they would let this go too except the people who are shorting, i am pretty sure still had not covered as of yesterday or also reshorted. the short and borrow rate hadn't changed that much. and it's multiple stocks. And they refuse to put the diaper on and take their losses for bad decisions.

kind of a minor point here but i see a lot of people around the internet saying "the market is for gambling but they wont let us play" which is incorrect, the market is for charging fees, gambling is just something you do in order to charge fees

end times

― lag∞n, Thursday, January 28, 2021 12:05 PM (twelve minutes ago) bookmarkflaglink

We have truly entered the era of Biden bi-partisanship.

how often does that happen?

As often as it will need to.

Ted Cruz, like a lot of right-wing "intellectuals", is incredibly obsessed with AOC and has done this "See! We agree on something! We're not entirely monstrous!" move several times

And they refuse to put the diaper on and take their losses for bad decisions.

"They" got a government bailout when they cratered the entire economy ten years ago. Halting trading for a couple days to avoid losses seems pretty minor.

i know, i worked at the bank that bought the one bank that didn't get the bailout.

When I use the Robinhood app I think about the book Addiction by Design by Natasha Schull about casinos

hey, hey, two banks didn't get the bailout!

xp

So we are at the stage where people are realising they can’t beat the house?

https://www.youtube.com/watch?v=yhcreVY_qLI

i mean obv you guys should go back to talking about Hillary and square dancing.

teh stonk expert

i barely know how to read.

its honestly not that great

My point is I don't understand why people are angry about wall street getting robinhood, etc. to stop this when wall street does shit like this on the regular.

lots of people don't realize that wall street does shit like this on the regular

1. not everyone knows everything
2. sometimes a particular event will get people riled up even if they already know about it
3. its obviously a good thing that people are mad about this, i mean fucking with the hedge fund was funny, massive anger at wall st is actually constructive

Oh, I agree.

I am just extremely pessimistic about it amounting to anything more than a rounding error.

When I use the Robinhood app I think about the book Addiction by Design by Natasha Schull about casinos

― fbclid=fhAZ3l (f. hazel), Thursday, January 28, 2021 9:26 AM (fifteen minutes ago)

great book, should be required reading for product designers who don't realize what they've done

things can change in the world, its happened before

the important thing is that this development is bad for the new york mets, which means the universe might be righting itself

lol AOC not having it

I am happy to work with Republicans on this issue where there’s common ground, but you almost had me murdered 3 weeks ago so you can sit this one out.

Happy to work w/ almost any other GOP that aren’t trying to get me killed.

In the meantime if you want to help, you can resign. https://t.co/4mVREbaqqm

— Alexandria Ocasio-Cortez (@AOC) January 28, 2021

what does this mean?

She thought she was walking away with $65ish but got $650. Why? God only knows.

I really do love AOC

lol thats sick

Can someone (yerac?) explain to me why hedge funds that want to bet a stock will go down use short selling (which has basically unlimited downside and makes you vulnerable to short squeeze) rather than put options? Am I missing something?

that AOC tweet should be the new national anthem

https://isthesqueezesquoze.com

i think this explains it pretty well

Thank you to whoever explained this - @reddit is incredible

😩🤙🏻 pic.twitter.com/zKRlbP41gJ

— Jimmy Kelly (@_jimmykelly) January 28, 2021

Yeah I saw that. I just don’t get why you’d short sell rather than buy put options if you think a stock is going down given the unlimited downside of short selling.

Haha turning point in history.

WOW. pic.twitter.com/uIWyXtiOjO

— Peter Labuza (@labuzamovies) January 28, 2021

Yeah I saw that. I just don’t get why you’d short sell rather than buy put options if you think a stock is going down given the unlimited downside of short selling.

― 𝔠𝔞𝔢𝔨 (caek), Thursday, January 28, 2021 10:28 AM (one minute ago)

Guess: it's because the upside is potentially much higher and huge shorts aren't used to there being any investors with the tools and risk appetite to bet against them?

Yeah I guess my question boils down to why does anyone buy stocks when they can buy options and bound their losses, and I assume there are thousands of reasons.

greed and collusion are two

I was saying to a hoos on twitter that it'd certainly be Interesting if this episode led (say) several million index investors who sock cash into their vanguard Roths and don't touch it (like yrs truly) to consider investing instead in a somewhat less diverse basket of stocks that are basically picked on the basis of "is this a normal company that people understand and that isn't involved in petroleum extraction?"

Like can you bolster the enterprises that despite capitalism actually do matter to people's lives and the cities they live in? AMC is a big dumb chain but big dumb chains are a good place to see big dumb movies

BREAKING: Class action complaint against @RobinhoodApp filed in the southern district of NYhttps://t.co/DuGP3LIQDQ pic.twitter.com/mw82RRoA2L

— Lydia Moynihan (@LJMoynihan) January 28, 2021

Yeah I saw that. I just don’t get why you’d short sell rather than buy put options if you think a stock is going down given the unlimited downside of short selling.

― 𝔠𝔞𝔢𝔨 (caek), Thursday, January 28, 2021 1:28 PM (six minutes ago) bookmarkflaglink

i think its mainly because puts cost more but also cause they expire, so in order to make money with puts the stock has to drop quite a bit over a fixed time frame, where with shorts you can make money on small fluctuations

Who will form a meme fund where investors upvote the funniest stocks for the fund to invest in?

they are going to need to file complaints against a lot of brokers today.

seems like a good thing (for me) that might have a chance of getting the freeze enjoined

ugh i wrote a thing and it did not go through. Melvin cap also had puts you can see their positions if you search online for their 13f. I think they closed those out though. Some options strategies you should own the underlying. But i figure one does the math on paying the option premium that has time decay vs. borrowing shares to sell and paying the borrow rate or not borrowing shares and just shorting anyway and skipping the borrow rate.