Markets still falling like whoa

[Guest]

Welp, that's enough for today. Blerg.

[Rip76 5009]

[Cheeseweasel 26439]

[Incredulity 11861]

[52-80 19379]

25 minutes ago, Incredulity said:

Oh hey, its a picture of all of us

[Wally Fairway 5664]

Ride it all the down people, all the way....

 

[XYZ 2154]

It’s amazing that nothing but shit has been happening over the past 24 months and the stock market indices are much higher.

[Shaggy3.0 1695]

1 hour ago, XYZ said:

It’s amazing that nothing but shit has been happening over the past 24 months and the stock market indices are much higher.

Imagine what will happen when shit stops hitting the fan. 

[Immaculate Vibes 114]

Commodities going bonkers. 
 

I’m guessing this is to protect some connected short sellers like with $Gme. 
 

I’ve read a couple doomy pieces on the ripple effects of this commodity surges through derivative markets. They’re a bit over my head so I’m not sure how legit they were. Something to keep an eye on. 

[The Original Greaser Bob 2880]

My wife sold into the dip last time, and I spent the last couple of years "I told you so"ing, and I think she's about to get her revenge.

[Wally Fairway 5664]

17 minutes ago, The Original Greaser Bob said:

My wife sold into the dip last time, and I spent the last couple of years "I told you so"ing, and I think she's about to get her revenge.

Tell her to step up her game; she needs to buy puts/sell calls and naked short something

[52-80 19379]

1 hour ago, The Original Greaser Bob said:

My wife sold into the dip last time, and I spent the last couple of years "I told you so"ing, and I think she's about to get her revenge.

my wife's buy and hold strategy is kicking my ass fosho.

[Guest]

S&P down 9% in the past month. 

 

[Parliament 14559]

It is known.

[52-80 19379]

Liquidated a few positions in the morning. Shorted the bounce in late afternoon to salvage the day and end up at a scratch. 
 

Opened new long on 2yr treasury yield and short on corporate bonds. Let the hiking begin. 

[Cheeseweasel 26439]

37 minutes ago, FirstTimeCaller said:

S&P down 9% in the past month. 

 

Thanks for the reminder

[Guest]

5 minutes ago, Cheeseweasel said:

Thanks for the reminder

Just did my monthly log of accounts. It was not pretty.

[Parliament 14559]

You can still get $20 for a good handjob, fwiw.  So you got that going for you.

[Sam Lin 3590]

Where?

Asking for a friend.

[Parliament 14559]

The Cloak Room

[Wally Fairway 5664]

Lot of bounce, for a dead cat!

[Blotto 23974]

1 hour ago, Wally Fairway said:

Lot of bounce, for a dead cat!

I can see 2%+ daily swings being fairly common here in the short term with all of the noise out there. Next on deck is the February CPI number being released tomorrow. 

[Cheeseweasel 26439]

5 minutes ago, Blotto said:

Next on deck is the February CPI number being released tomorrow. 

[Wally Fairway 5664]

59 minutes ago, Blotto said:

I can see 2%+ daily swings being fairly common here in the short term with all of the noise out there. Next on deck is the February CPI number being released tomorrow. 

Talk me off the ledge 

Because I have an itchy trigger finger, pointed right at short expiry SPY puts

[ATexanAbroad 627]

...

Edited March 9, 2022 by ATexanAbroad

[Blotto 23974]

5 minutes ago, Wally Fairway said:

Talk me off the ledge 

Because I have an itchy trigger finger, pointed right at short expiry SPY puts

I aint the guy for that.

 

[52-80 19379]

1 hour ago, Blotto said:

I can see 2%+ daily swings being fairly common here in the short term with all of the noise out there. Next on deck is the February CPI number being released tomorrow. 

The "Core" CPI excludes energy costs so will absorb the blow somewhat.  We'll test if all this shit is already "priced in"

[Cheeseweasel 26439]

1 hour ago, Wally Fairway said:

Talk me off the ledge 

Because I have an itchy trigger finger, pointed right at short expiry SPY puts

Do it!

 

(so I can do the opposite)

[Wally Fairway 5664]

12 minutes ago, Cheeseweasel said:

Do it!

 

(so I can do the opposite)

I feel like someone has the frozen concentrated orange juice report that is being released tomorrow.

And is certainly isn't me

[Wally Fairway 5664]

40 minutes ago, Cheeseweasel said:

Do it!

 

(so I can do the opposite)

Bought some 3/14 $417 SPY puts, because I didn't want that money.

Now you can make $$$ trading opposite me, just like everyone else does.

Just remember there is someone on the other side of every option trade that you make; and they think they are going to make money too.

[52-80 19379]

17 minutes ago, Wally Fairway said:

 

Now you can make $$$ trading opposite me, just like everyone else does.

 

where we lose money one, we lose all

[Cheeseweasel 26439]

46 minutes ago, Wally Fairway said:

I feel like someone has the frozen concentrated orange juice report that is being released tomorrow.

And is certainly isn't me

[Incredulity 11861]

2 hours ago, Wally Fairway said:

I feel like someone has the frozen concentrated orange juice report that is being released tomorrow.

And is certainly isn't me

Newsflash.

 

they always have the report 

[Guest]

Me yesterday:

 

Me today:

Edited March 9, 2022 by FirstTimeCaller

[Guest]

Amazon with the 20-1 split. 

[52-80 19379]

34 minutes ago, FirstTimeCaller said:

Amazon with the 20-1 split. 

Just like what my portfolio did this year

[Walte464 450]

7 hours ago, FirstTimeCaller said:

Amazon with the 20-1 split. 

Is it smart to get in before the split or after the split on June 3rd? Or has this one flown the roost?

[52-80 19379]

4 hours ago, Walte464 said:

Is it smart to get in before the split or after the split on June 3rd? Or has this one flown the roost?

there's been quite a few academic papers researching effect of stock splits.  generally it shows a positive marginal boost to the price due to split (1) being *a* news event and market 'signal' (2) increasing liquidity and attracting new buyers [maybe less so today because brokers offer partial shares].

shouldnt be the main reason to get in or out of something tho, IMO

[Guest]

To be honest, at least right now I'm just more annoyed by the action than anything. Down 2%, up 3%, down 2%. 

If shit sucks, then sell off. If it's not so bad, then chill out.

[ATexanAbroad 627]

1 minute ago, FirstTimeCaller said:

To be honest, at least right now I'm just more annoyed by the action than anything. Down 2%, up 3%, down 2%. 

If shit sucks, then sell off. If it's not so bad, then chill out.

This is traders paradise. Buy calls or sell puts on the down days and sell calls on the good days.

[Guest]

1 minute ago, ATexanAbroad said:

This is traders paradise. Buy calls or sell puts on the down days and sell calls on the good days.

I am too damn stupid to trade. Or I am too damn smart. Don't know which.

[ATexanAbroad 627]

1 minute ago, FirstTimeCaller said:

I am too damn stupid to trade. Or I am too damn smart. Don't know which.

Honestly there is not. more guaranteed way to make money in the market than covered calls. I would start with that.

[babysdaddy 2731]

Honestly there is not. more guaranteed way to make money in the market than covered calls. I would start with that.

What is going on with your RSX position?

[ATexanAbroad 627]

19 minutes ago, babysdaddy said:

What is going on with your RSX position?

frozen andd cant trade which i think is a good thing

[Blotto 23974]

lots of options open when trading was suspended. 

Quote

The suspension of trading in the world’s largest Russia ETF has left the fate of options worth hundreds of millions of dollars hanging.

Cboe Global Markets Inc. halted trading of shares and options in the VanEck Russia ETF (ticker RSX) after the market close Friday as the fallout of the Russian invasion of Ukraine made the fund’s underlying securities practically impossible to trade.

At the time there were about 1 million options tied to the exchange-traded fund worth roughly $285 million, according to Bloomberg Intelligence. That was the highest level since 2014.

The Options Clearing Corp. typically automatically exercises options on expiry if they’re in-the-money, but it said in a memo Tuesday that it will stop doing that if the fund is still not trading by the expiration date. That’s because if the product is not trading, there’s no way to value the fund and determine if options are in-the-money, according to Steve Sosnick, chief strategist at Interactive Brokers LLC.

The only way investors would be able to exercise an option is if they reach out to their broker and request it. If that happens, Sosnick said he currently expects investors would see the option be removed from their account and the corresponding shares of RSX moved in or out.

“OCC has basically told us they don’t know what these things are worth, they don’t want to make a decision as to what it’s worth,” Sosnick said. “They will leave it for options holders to make that decision for themselves, but it is important for the options holders to understand that any decision they make carries a lot of risk because they won’t know the full consequences of that decision for an indeterminate amount of time,” since it’s unclear what the fate of the fund will be, he said.

The clock is ticking for investors to figure out what to do, with the earliest contracts tied to RSX expiring from as soon as March 11 until January 2024, per BI.

RSX is one of a slew of Russia-focused funds halted on exchanges worldwide in the fallout from the Ukraine war. Sanctions and Russia’s response, including introducing capital controls and temporarily shutting the Moscow market, have made valuing the nation’s securities a tall order.

RSX was pricing at a premium of more than 500% to its underlying assets when it halted, according to data compiled by Bloomberg. In other words, despite the ETF falling almost 80% this year, its underlying assets are seen to have dropped far further.

It all plays havoc with pricing options connected to the fund.

 

[52-80 19379]

The london metal exchange did worse than that this week. Instead if freezing trades, they literally reversed the trades in nickel futures when a big whale got blown out. Nothing to do with sanctions but or regulatory issues. Simply Ctrl+Z the motherfuckers

[Wally Fairway 5664]

I need to compile a list of financial instruments that are FUBAR due to the war 

-Russian ETFs/mutual funds

- Banks that have loans sure from Russian companies 

- Agriculture futures, and all commodity pricing 

- I'd say inflation and supply chain issues, but they were already here

 

[52-80 19379]

3 minutes ago, Wally Fairway said:

I need to compile a list of financial instruments that are FUBAR due to the war 

-Russian ETFs/mutual funds

- Banks that have loans sure from Russian companies 

- Agriculture futures, and all commodity pricing 

- I'd say inflation and supply chain issues, but they were already here

 

-our retirement accounts

[Cheeseweasel 26439]

52 minutes ago, Wally Fairway said:

I need to compile a list of financial instruments that are FUBAR due to the war 

-Russian ETFs/mutual funds

- Banks that have loans sure from Russian companies 

- Agriculture futures, and all commodity pricing 

- I'd say inflation and supply chain issues, but they were already here

 

IBRX. Because of Putin.

[Wally Fairway 5664]

3 minutes ago, Cheeseweasel said:

IBRX. Because of Putin.

Woof - that dog has been barking for a lot longer than Putin's Ukraine offensive