Is the stock market going to tank?

[cravenmorhead]

Agreed. New bagholders. Option chains broken 3 days in a row.

Chamath to be on CNBC in 1 hour. That may get more swiping right to get to 420.69

So, I'm usually a boring index fund guy, but I very much don't get why someone would be willing to step into Melvin's shoes, if that's what happened. Seems like a big expensive bet against "apes strong together," when the apes have the momentum.

[Brock Landers]

I hope gme halts!

[LeeLau]

I hope gme halts!

I'd love a H10! Get to keep my option premiums! Get to keep my shares


100% erosion of capital in 1 day. All the option chain wiped out 3 sessions in a row. Unprecedented.

When I did risk management there was R equation for risk. Now there'll be a Reeeee equation for "autistic retard" factor

[JimmyCarter]

I'd love a H10! Get to keep my option premiums! Get to keep my shares

[JimmyCarter]

Massive drop and trading halt at noon exactly? Suspect.

[JimmyCarter]

Chamath closed out


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[LeeLau]

Sorry Jimmy. Didn't realize you had bought.

As to Paulsters comment and what I said about this being funds vs funds

https://mobile.twitter.com/toxic/sta...90772135813121

[Toadman]

Market is down, but GME is going nuts. Who the F would be buying this stock right now?

[Mazderati]

As to Paulsters comment and what I said about this being funds vs funds

https://mobile.twitter.com/toxic/sta...90772135813121

It seems like so much of the crazy comes back to HFT and server proximity. The part about Citadel paying RH for order flow isn't clear. Is Citadel literally paying RH for the right to see trades before RH executes, or is Citadel seeing RH trades as a byproduct of RH trades being routed through Citadel? I guess the end result is the same from Citadel's perspective.

[jacob_dbu]

It seems to me that it's slightly different than the lottery. It's a voting machine with public sentiment. If you have your finger to the pulse you can still make money, but the risk level is high. If you're stupid and/or not in touch. Sure it's a lottery.

[MultiVerse]

It seems like so much of the crazy comes back to HFT and server proximity. The part about Citadel paying RH for order flow isn't clear. Is Citadel literally paying RH for the right to see trades before RH executes, or is Citadel seeing RH trades as a byproduct of RH trades being routed through Citadel? I guess the end result is the same from Citadel's perspective.

While not a direct answer to your question, an SEC investigation suggests order-flow payments dominate Robinhood’s revenue stream. The payment-for-order-flow business model means revenue comes from third-party liquidity providers instead of user/trading fees.



Robinhood Was Indeed Too Good to Be True

Robinhood Financial Hit With Class-Action Suit for Selling Stock Orders

[m2711c]

[Brock Landers]

That’s how robinhood makes money. Citadel will put the order flow into an algo, lever it up, good way to make serious H&B money

[Mazderati]

A little digging shows Citadel pays RH to get their trades. Citadel becomes the market maker on the other side of those RH trades, selling to RH buyers. Layer in Citadel funding Melvin. Actual 4d chess while unwitting RH users think they are sticking it to hedgies. Wall St wins again.

"Citadel Securities pays tens of millions of dollars for this order flow but makes money by automatically taking the other side of the order, then returning to the market to flip the trade. It pockets the difference between the price to buy and sell, known as the spread.

Easy access to the market against the backdrop of wild swings in prices have led to higher trading volumes for stocks and options this year — increasing the raw material Citadel Securities uses to turn a profit. At the same time, the rise in volatility has forced spreads wider, increasing the potential income for market makers."

https://www.ft.com/content/4a439398-...7-e743a3ff609b

[LeeLau]

It seems like so much of the crazy comes back to HFT and server proximity. The part about Citadel paying RH for order flow isn't clear. Is Citadel literally paying RH for the right to see trades before RH executes, or is Citadel seeing RH trades as a byproduct of RH trades being routed through Citadel? I guess the end result is the same from Citadel's perspective.

It's the latter.

Also https://twitter.com/MelvinCapitalLP/...076655616?s=19

nice trade by Chamath

[Brock Landers]

Did you hear him just now on CNBC?

[JimmyCarter]

Did you hear him just now on CNBC?

Carefully dodged the relevant question re fundamentals, I assume to protect from lawsuits, but otherwise very solid.

[BobMc]

In non-GME news, PLUG doing what they've been doing for 20 years. $1.8 billion public share offering. They have a masterful run of offering more and more shares while never making money.

[bad dancer]

WTF is happening to Nokia ? This is madness

[cravenmorhead]

WTF is happening to Nokia ? This is madness

#memestock

[JimmyCarter]

WTF is happening to Nokia ? This is madness

Bunch of WSBers (and WSB frontrunners) buying long dated OTM options I assume?

[BobMc]

I'm thinking of getting ahead of this and seeing if I can buy Radio Shack or Stuckey's shares.

[JimmyCarter]

I'm thinking of getting ahead of this and seeing if I can buy Radio Shack or Stuckey's shares.

Dillards is on the short list!

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[paulster2626]

Someone's gotta be shorting VAIL hard, no?

When do I sell my paltry 11 shares of GME? I have 1 set to sell at $800 (lol) and 10 set as a -40% trailing stop, is that good enough?

I have only 60% knowledge of what I'm doing. It's kinda like skiing, actually!

[LeeLau]

NOK BB. If PALM was around I'd bet it'd be pumped. Sold my PLTR and BB calls on the wsb effect.