Investing General Discussion

Sanrith Descartes · Apr 24, 2023

The Moglyzoke reaction pic...

Big Phoenix · Apr 24, 2023

How many people is FRC going to bankrupt after hours?

Mist · Apr 24, 2023

I am not putting any long money into the market at this point until the debt ceiling drama is resolved. There will be drama, the media and the market demand drama. SPY and everything else will go on sale at least 10% off.

Think of it like a coupon.

Lightning Lord Rule · Apr 24, 2023

Honestly that 4.48% from the money market account is starting to look better all the time. Everything else including indexes seems to be a real crap shoot lately, and it allows you to be ready in case something comes up that's really juicy and on sale. Sure it's still under inflation so it's not great, but the risk is also basically 0.

I highly doubt the rate's going to stay at that level though. I'd guess it comes up a bit more to match the Fed continuing to raise rates, but this type of rate lasting for years and becoming reliable I don't see happening.

Edaw · Apr 24, 2023

Big Phoenix said:
How many people is FRC going to bankrupt after hours?

Sanrith Descartes · Apr 24, 2023

Edaw said:

FRC had bad earnings?

Sanrith Descartes · Apr 25, 2023

Ranak said:
MP is down pretty big the last couple days. Anyone track this one enough to offer insight into whether it's something worth buying and holding?

It crashed through $22 this morning.

Fogel · Apr 25, 2023

Bought some MP puts 12.50 december expiry. Based on support levels it should slowly drop to the 13-15 range.

Sanrith Descartes · Apr 25, 2023

Fogel said:
Bought some MP puts 12.50 december expiry. Based on support levels it should slowly drop to the 13-15 range.

December expiry?

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Fogel · Apr 25, 2023

Sanrith Descartes said:
December expiry?

It's going to take some time to bleed down as people capitulate. It's a small position anyway, so well within a good risk envelope with very high upside.

Sanrith Descartes · Apr 25, 2023

Gravel · Apr 25, 2023

So market is dropping today because 0DTE was helping absorb the volatility?

That doesn't make sense to me, but I also have no clue how this shit works anymore.

Sanrith Descartes · Apr 25, 2023

Gravel said:
So market is dropping today because 0DTE was helping absorb the volatility?

That doesn't make sense to me, but I also have no clue how this shit works anymore.

Im going to try to reader's digest version this.

Jysin or

Blazin can then come and correct me.

A shit load of contracts are being bought daily on the SPX at 0DTE. Since they are buying calls, the market makers need to buy shares to hedge against the possible move. This buying of shares to hedge is actually tamping down on SPX volatility to the downside. When the volume of 0DTE calls goes down on a particular day, there is less hedge buying and we see the SPX not being artificially driven upwards (or at least not artificially balancing downward movement).

Gravel · Apr 25, 2023

But shouldn't that wash out the next day after the option either expires or is exercised? Meaning the volatility just gets delayed a day?

And...wouldn't the extra buying to cover also be...volatility?

Sanrith Descartes · Apr 25, 2023

Gravel said:
But shouldn't that wash out the next day after the option either expires or is exercised? Meaning the volatility just gets delayed a day?

And...wouldn't the extra buying to cover also be...volatility?

Unless they just keep buying new 0DTE calls each session.

Sanrith Descartes · Apr 25, 2023

FRC

Gravel · Apr 25, 2023

$103 billion difference. Holy shit. Those are some next level accountants they've got there. Must all be diversity hires, because anyone looking at that balance sheet would've had their head explode.

I mean, I only took a handful of accounting classes and I can't even believe that number.

Edit: Also, which fucking big four (I'm assuming) was auditing them and didn't throw up a red flag immediately?

And yes, I get that their balance sheet probably wasn't quite so out of whack a month ago. But there's no way it looked good.

Sanrith Descartes · Apr 25, 2023

Gravel said:
$103 billion difference. Holy shit. Those are some next level accountants they've got there. Must all be diversity hires, because anyone looking at that balance sheet would've had their head explode.

I mean, I only took a handful of accounting classes and I can't even believe that number.

Edit: Also, which fucking big four (I'm assuming) was auditing them and didn't throw up a red flag immediately?

And yes, I get that their balance sheet probably wasn't quite so out of whack a month ago. But there's no way it looked good.

I had an open order to write 0DTE puts just out of the money on the SPY. I cancelled that shit as soon as I saw that tweet. Right before the SPY waterfall.

Furry · Apr 25, 2023

Sanrith Descartes said:
FRC

Investing General Discussion

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