i know, i worked at the bank that bought the one bank that didn't get the bailout.
― Yerac, Thursday, 28 January 2021 17:23 (three years ago) link
When I use the Robinhood app I think about the book Addiction by Design by Natasha Schull about casinos
― fbclid=fhAZ3l (f. hazel), Thursday, 28 January 2021 17:26 (three years ago) link
hey, hey, two banks didn't get the bailout!
xp
― tiwa-nty one savage (voodoo chili), Thursday, 28 January 2021 17:26 (three years ago) link
So we are at the stage where people are realising they can’t beat the house?
― Van Horn Street, Thursday, 28 January 2021 17:26 (three years ago) link
https://www.youtube.com/watch?v=yhcreVY_qLI
― the serious avant-garde universalist right now (forksclovetofu), Thursday, 28 January 2021 17:27 (three years ago) link
i mean obv you guys should go back to talking about Hillary and square dancing.
― Yerac, Thursday, 28 January 2021 17:28 (three years ago) link
teh stonk expert
― lag∞n, Thursday, 28 January 2021 17:30 (three years ago) link
i barely know how to read.
― Yerac, Thursday, 28 January 2021 17:30 (three years ago) link
its honestly not that great
― lag∞n, Thursday, 28 January 2021 17:31 (three years ago) link
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.
― Smokahontas and John Spliff (PBKR), Thursday, 28 January 2021 17:34 (three years ago) link
lots of people don't realize that wall street does shit like this on the regular
― tiwa-nty one savage (voodoo chili), Thursday, 28 January 2021 17:36 (three years ago) link
1. not everyone knows everything2. sometimes a particular event will get people riled up even if they already know about it3. 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
― lag∞n, Thursday, 28 January 2021 17:36 (three years ago) link
Oh, I agree.
― Smokahontas and John Spliff (PBKR), Thursday, 28 January 2021 17:37 (three years ago) link
I am just extremely pessimistic about it amounting to anything more than a rounding error.
― Smokahontas and John Spliff (PBKR), Thursday, 28 January 2021 17:38 (three years ago) link
― 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
― Canon in Deez (silby), Thursday, 28 January 2021 17:43 (three years ago) link
things can change in the world, its happened before
― lag∞n, Thursday, 28 January 2021 17:43 (three years ago) link
the important thing is that this development is bad for the new york mets, which means the universe might be righting itself
― tiwa-nty one savage (voodoo chili), Thursday, 28 January 2021 17:45 (three years ago) link
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
― frogbs, Thursday, 28 January 2021 17:48 (three years ago) link
what does this mean?
She thought she was walking away with $65ish but got $650. Why? God only knows.
― Joe Biden Stan Account (milo z), Thursday, 28 January 2021 17:49 (three years ago) link
I really do love AOC
― fbclid=fhAZ3l (f. hazel), Thursday, 28 January 2021 17:51 (three years ago) link
lol thats sick
― lag∞n, Thursday, 28 January 2021 17:52 (three years ago) link
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?
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 28 January 2021 17:52 (three years ago) link
that AOC tweet should be the new national anthem
― the serious avant-garde universalist right now (forksclovetofu), Thursday, 28 January 2021 17:53 (three years ago) link
https://isthesqueezesquoze.com
― Canon in Deez (silby), Thursday, 28 January 2021 18:19 (three years ago) link
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
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Thursday, 28 January 2021 18:21 (three years ago) link
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, 28 January 2021 18:28 (three years ago) link
Haha turning point in history.
― Van Horn Street, Thursday, 28 January 2021 18:28 (three years ago) link
WOW. pic.twitter.com/uIWyXtiOjO— Peter Labuza (@labuzamovies) January 28, 2021
― lag∞n, Thursday, 28 January 2021 18:30 (three years ago) link
― 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?
― Canon in Deez (silby), Thursday, 28 January 2021 18:31 (three years ago) link
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.
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 28 January 2021 18:32 (three years ago) link
greed and collusion are two
― fbclid=fhAZ3l (f. hazel), Thursday, 28 January 2021 18:33 (three years ago) link
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
― Canon in Deez (silby), Thursday, 28 January 2021 18:34 (three years ago) link
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
― k3vin k., Thursday, 28 January 2021 18:36 (three years ago) link
― 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
― lag∞n, Thursday, 28 January 2021 18:37 (three years ago) link
Who will form a meme fund where investors upvote the funniest stocks for the fund to invest in?
― Joe Biden Stan Account (milo z), Thursday, 28 January 2021 18:42 (three years ago) link
they are going to need to file complaints against a lot of brokers today.
― Yerac, Thursday, 28 January 2021 18:43 (three years ago) link
seems like a good thing (for me) that might have a chance of getting the freeze enjoined
― k3vin k., Thursday, 28 January 2021 18:45 (three years ago) link
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.
― Yerac, Thursday, 28 January 2021 18:46 (three years ago) link
would you say that the squeeze is in fact squoze?
― maf you one two (maffew12), Thursday, 28 January 2021 18:51 (three years ago) link
fwiw, small time traders learned early on that the internet allowed them to contact hundreds of thousands of people via spam emails and they used that conduit to 'pump and dump' penny stocks by suckering people into buying based on vague 'tips' full of garbage info. this reddit scheme was just a more clever and successful stock manipulation using less questionable means.
― Compromise isn't a principle, it's a method (Aimless), Thursday, 28 January 2021 18:52 (three years ago) link
People still pump and dump penny stocks. But i guess it's if you think the company actually has value. That thing above is wrong though, it didn't start weeks ago with some guy convincing people to buy. It's been a much traded stock on that subreddit for over a year due to the console cycle and the turnaround business.
― Yerac, Thursday, 28 January 2021 18:57 (three years ago) link
The squeeze= all info regarding shares available to borrow and short rate are pretty public on the internet. You can see volume traded each day, the current stock float. You make the determination based on the info you have .
― Yerac, Thursday, 28 January 2021 19:01 (three years ago) link
feel like it's gonna open at 5 cents tomorrow
― maf you one two (maffew12), Thursday, 28 January 2021 19:10 (three years ago) link
i wonder what family guy-reference stock is going to be next
― satanist of size (map), Thursday, 28 January 2021 19:18 (three years ago) link
this has resulted in me doing some soul-searching and confirming that i'd rather stay poor and cool than get rich and turn into a nerd.
― satanist of size (map), Thursday, 28 January 2021 19:20 (three years ago) link
I've been a nerd all my life, wouldn't mind having means to go along with it.
― Motoroller Scampotron (WmC), Thursday, 28 January 2021 19:23 (three years ago) link
If I could have gotten in early enough to pay off my mom's mortgage I'd have been willing to become one of those nerds that defends Elon Musk on Twitter for at least two weeks.
― Joe Biden Stan Account (milo z), Thursday, 28 January 2021 19:25 (three years ago) link
I'll listen to an entire Grimes album!
― Joe Biden Stan Account (milo z), Thursday, 28 January 2021 19:27 (three years ago) link
They are automatically selling shares. pic.twitter.com/o9XCdL9ND1— Sunny (@555Sunny) January 28, 2021
― reggae mike love (polyphonic), Thursday, 28 January 2021 19:28 (three years ago) link
Wild
― maf you one two (maffew12), Thursday, 28 January 2021 19:29 (three years ago) link