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I appreciate you saying that, YankeesR. Thats uncalled for.
PepeQuant, everyone knows how toxic WallStreetBets is. That is no reason for us to adopt it.
GameStop GME and WSB saga
- Thread starter Andy Nguyen
- Start date
PepeQuant, everyone knows how toxic WallStreetBets is. That is no reason for us to adopt it.
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I appreciate you saying that.
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Whoops. Thought my first post was deleted.
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I'm aware of what is said in that forum, but that does not make it right. You made a mistake, it's ok, but be aware enough to realize that is not cool. If not, you will in a few years hopefully.That was actually a compliment in their perspectiveyou should go check out that subreddit.
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it's an inside joke relax guys
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Really? I found them pretty funny. I guess I am with the little guys on this one.
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i just sized a portion of my portfolio to follow reddit craze. cant miss out the herd
FOMO FTW!
FOMO FTW!
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Looks like the Reddit crowd is now going after silver. Gold and silver have been among the most manipulated markets in the world.
Last edited:
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The WSB subreddit seems to be full of people denying that though - things like the news and hedge funds are manipulating the news, and posts telling people not to buy silver. Either way I'm grabbing some popcorn, might check back in a few hours after I finish my homework.
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What you are saying makes sense. Silver is not likely to be their kind of thing. These people are speculators and not in it for the long haul.
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Yes I think silver is driven by institution who is trying to ride this wsb frenzy. Or they are distracting wsb to sell their gme shares to avoid short squeeze. Any how, GME is really the only one they can squeeze if you look at the short interest. Hold to the moon!
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It is one thing to lay gamma traps with OTM Calls on a highly shorted mid-cap stock and another thing to move a 1.24 Trillion market. It will be a sisyphean task and the reversion will be much quicker.
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There is a lot of FUD (fear, uncertainty and doubt) in the media driven by the short interest to distract people from buying GME. Such as an article saying GS warns there will be a systemic risk to the global market if short-driven hedge funds go bankrupt. Go figure.
Robinhood is allowing members to buy GME again today. For 1 share.
Robinhood is allowing members to buy GME again today. For 1 share.
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IBKR is allowing users to buy GME and the other stocks restricted last week, so far I don't think there's any limit.
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I heard there is a list of 50 stocks that are restricted on RH last Friday, even stocks like GM that has nothing to do with the crazies. Not sure if that's still the case today.
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What i heard the cause of this is the dtcc. Stocks are settled with settlement lag, usually 2 days. (Same for FX spot). This is essentially a 2 day forward.
On settlement date, when one counterparty default, dtcc will need to complete the transaction out of their pocket. So usually they charge some collateral. Like 10% of mark to market on trade date. When stock does not move beyond that 10% then dtcc is fine.
However for GME they move too volatile, hence 10% is not enough. Lets say trade at 100 but move to 300 after 2 days and one counter party default. That would not be fun for dtcc
They would lose $200 in that case.Broker would need to post more collateral and it can be the case there is not enough liquidity (in terms of cash) in RH in this case.
Well i take this as a grain of salt. Not sure if there is some other shady stuff going on.
And i am not sure the formula they use to calc such collaterla requirement. It would be nice someone can find out
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If anything, I think this is a unique opportunity for more people to learn about complex financial products like options, hedging, shorting, margin, etc.
The barrier to more people using such tools has been the perceived complexity and with social media, trading apps and finance forums where you can learn anything, the day has come where dumb money has a chance against smart money.
I'm sure we will learn plenty more in the days ahead where all the FUD is and what really went down at the broker houses.
The barrier to more people using such tools has been the perceived complexity and with social media, trading apps and finance forums where you can learn anything, the day has come where dumb money has a chance against smart money.
I'm sure we will learn plenty more in the days ahead where all the FUD is and what really went down at the broker houses.
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I wonder if any quantnet member accepted a summer internship offer from Melvin Capital.
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lol that is little bit heartless but you have my forgivness
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