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Surly #Stonks

Wally Fairway

By Wally Fairway
in Business and Markets

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Hank_Hill
Hank_Hill

Haven't mentioned it because didn't need naysayers because it is stupid, but I'm a med student doing this almost purely on my student loans while they're at zero interest. I've made +$20k since Decemb

Hank_Hill
Hank_Hill

The real treasure is the friends we make along the way

BradInATX
BradInATX

As long as 700% APR payday loans exist, you can fuck right off with "protecting people from themselves".

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52-80

52-80 19076

Posted
Posted
6 minutes ago, cam4mav said:

 

 

What is Level 2 and why does it matter? Is this showing trade volume? I saved this bookmark last night but was a bit drunk and don't remember why.

Anyways nice little view of the hot stuff regardless. I was flipping tabs and hitting refresh on google like an idiot.

 

it shows you exactly what you see on the screen - bid/ask prices beyond single one normally quoted so you can see a step ahead the level of supply vs demand

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Harrison Stafford

Harrison Stafford 3325

Posted
Posted
3 hours ago, RCRanger03 said:

Haven't looked honestly I'm invested to the tits right now, been carrying less that $1k available money since December. XMET almost hit a $10k first exit for me when it was peeping .009, but no go. I need to get over some catalysts in Feb to begin looking to add again. Very interested though in all of @Harrison Stafford's picks. He's a pro.

@RCRanger03 No better a stonk picker than you, my man.  Your DD on penny stonks is remarkable.  

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TornACL

TornACL 7674

Posted
Posted

I keep adding small chunks of TSNP every time it's dipping. Also been throwing small positions on DGB crypto. That had a nice little 20% pop over the last 24 hours. 

My crypto wallet is tiny, but hey maybe if DGB goes nuts I can fund a wild night or two at the shake joint. 

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52-80

52-80 19076

Posted
Posted
1 hour ago, GRHorn said:

Well @washparkhorn I’m back to disagreeing with her. 

 

things are worth whatever the participants determine theyre worth ya fake indian bish

1 hour ago, PenelopeWitherspoon said:

Can someone educate me on how to make money on VIX or other volatility options?

market goes wild and uncertain, vix goes up.  though the caveman correlation is market goes down = vix goes up.

my broker gives access to VIX but if yours dont you can use VXX or UVXY as instruments

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hayden_horn

hayden_horn 11360

Posted
Posted
Just now, GRHorn said:

Slow fade on GME.

Bearish-options expiry today leads to decreased gamma squeeze. 

bullish-Autists refuse to sell and the cost to borrow for shorts continues. 

am i right here? 
 

i dunno but it was around this time yesterday that there was a huge dive in price as well, iirc

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Harrison Stafford

Harrison Stafford 3325

Posted
Posted
27 minutes ago, 52-80 said:

things are worth whatever the participants determine theyre worth ya fake indian bish

market goes wild and uncertain, vix goes up.  though the caveman correlation is market goes down = vix goes up.

my broker gives access to VIX but if yours dont you can use VXX or UVXY as instruments

Be careful with UVXY.  Because of the time decay, it’s ST only.

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IDIOTsavant

IDIOTsavant 8437

Posted
Posted
1 hour ago, IDIOTsavant said:

Was going to leverage down my position in AMC when it dropped, but Robinhood won't allow me to buy more shares with available cash because I already own more than 25 shares. 25! Complete bullshit.

Now cut to 20 shares to further drive down the price... fucking criminal.

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MonkeyDoughnut

MonkeyDoughnut 10138

Posted
Posted (edited)
15 minutes ago, IDIOTsavant said:

Now cut to 20 shares to further drive down the price... fucking criminal.

It's being cut because Robinhood is being forced by its clearers to post a lot more collateral for these volatile stocks. It doesn't have the collateral to allow its traders unlimited trading in these type stocks. It could up everyone's collateral/deposit requirements but is choosing this route instead.

From a technical side we all know of Robinhoods' issue with trading being down all together... what's going to happen when all these long Robinhood GME trader's collectively try to get out during the eventual free fall. Their app is going to crash. Would almost bet on it. How many lawsuits do you think they will face as the GME stock goes from its current 300 range down to its "real" value sub-$20.

Edited by MonkeyDoughnut
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Trey3216

Trey3216 15325

Posted
Posted
10 minutes ago, MonkeyDoughnut said:

It's being cut because Robinhood is being forced by its clearers to post a lot more collateral for these volatile stocks. It doesn't have the collateral to allow its traders unlimited trading in these type stocks. It could up everyone's collateral/deposit requirements but is choosing this route instead.

This is correct.  

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IDIOTsavant

IDIOTsavant 8437

Posted
Posted (edited)
12 minutes ago, MonkeyDoughnut said:

It's being cut because Robinhood is being forced by its clearers to post a lot more collateral for these volatile stocks. It doesn't have the collateral to allow its traders unlimited trading in these type stocks. It could up everyone's collateral/deposit requirements but is choosing this route instead.

From a technical side we all know of Robinhoods' issue with trading being down all together... what's going to happen when all these long Robinhood GME trader's collectively try to get out during the eventual free fall. Their app is going to crash. Would almost bet on it. How many lawsuits do you think they will face as the GME stock goes from its current 300 range down to its "real" value sub-$20.

So Robinhood allowed other users to overextend on margin, and I can't have access to my own cash? Is that what you're saying? Essentially, it's an insolvent bank?

Edited by IDIOTsavant
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Trey3216

Trey3216 15325

Posted
Posted
1 minute ago, IDIOTsavant said:

So Robinhood allowed other users to overextend on margin, and I can't have access to my own cash? Is that what you're saying?

No.  He's saying people are buying and selling so fast that many of the trades haven't cleared/settled yet.  You have to have capital reserves for unsettled trades because you still have to transfer the cash regardless.  Trades don't finalize for T+2 days.  You sell today, and the trade doesn't 'settle' until Tuesday.  The brokerage has to put up collateral for the unsettled trades as well as anything that's being traded on margin.  The more churn occurring (especially in volatile stocks with really high margin fees), the larger the amount of collateral capital they have to put up, even though the money shows in your account.  This is for both buying and selling. 

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hayden_horn

hayden_horn 11360

Posted
Posted
Just now, 936horn said:

With all the fuckery that has already occurred and potential more on the horizon I am quite puckered at the thought of holding over the weekend. I know, I am a pussy

i feel you. really feels like the trading platforms that are in place to democratize trading are doing their damndest to put a lid on free trading. and they might figure a more clever solution over the weekend. i dunno.

but until then, i guess i'm all 💎 ✋💎 ✋💎✋🚀 🚀 🚀🌚🍗 🍗 🍗

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Trey3216

Trey3216 15325

Posted
Posted
2 minutes ago, Trey3216 said:

No.  He's saying people are buying and selling so fast that many of the trades haven't cleared/settled yet.  You have to have capital reserves for unsettled trades because you still have to transfer the cash regardless.  Trades don't finalize for T+2 days.  You sell today, and the trade doesn't 'settle' until Tuesday.  The brokerage has to put up collateral for the unsettled trades as well as anything that's being traded on margin.  The more churn occurring (especially in volatile stocks with really high margin fees), the larger the amount of collateral capital they have to put up, even though the money shows in your account.  This is for both buying and selling. 

And when I say you, I'm talking about the broker.  Once you sell and the trade is executed, the cash is technically in your account.  Some trades might not be allowed because you can get flagged as a pattern day trader.  

 

But the broker has to have collateral to clear the trade, which doesn't settle for 2 business days.  Sorry if I wasn't clear the first time.  

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Trey3216

Trey3216 15325

Posted
Posted
1 minute ago, hayden_horn said:

i feel you. really feels like the trading platforms that are in place to democratize trading are doing their damndest to put a lid on free trading. and they might figure a more clever solution over the weekend. i dunno.

but until then, i guess i'm all 💎 ✋💎 ✋💎✋🚀 🚀 🚀🌚🍗 🍗 🍗

Platforms like RH were never meant to handle the amount of order flow they're handling right now.  

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SimonBolivar

SimonBolivar 10910

Posted
Posted
6 minutes ago, Trey3216 said:

No.  He's saying people are buying and selling so fast that many of the trades haven't cleared/settled yet.  You have to have capital reserves for unsettled trades because you still have to transfer the cash regardless.  Trades don't finalize for T+2 days.  You sell today, and the trade doesn't 'settle' until Tuesday.  The brokerage has to put up collateral for the unsettled trades as well as anything that's being traded on margin.  The more churn occurring (especially in volatile stocks with really high margin fees), the larger the amount of collateral capital they have to put up, even though the money shows in your account.  This is for both buying and selling. 

I'm just waiting on my SIPC check at this point

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Incredulity

Incredulity 11541

Posted
Posted
8 minutes ago, Incredulity said:

I look at it this way.

I have spent $2500 on things that have been less enjoyable than the last few days, and that doesn't include the laughs I will have over beers for years to come talking about this.

In fact I might spend the $500 to get the physical stock certificates.

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