Still think TITNC3: Return of the Iceberg was peak

Funny thing about this type of position is as the shares go up in value, the premium for the call goes up in value and the cost of the put goes down in value...So if you've decided that you're at the peak and want to sell the call, you should also buy the put because as soon as the share price is decreasing the cost of the put is increasing...
This position is insurance against loss on a decrease in share price below the premium

 

LUV DAVE! This is me walking around work today telling people to buy the dip..
https://twitter.com/stoolpresidente/status/1364224636804882433?s=20

 

straight up attack on retail investors...payback for $GME


This was great
https://twitter.com/stoolpresidente/status/1364394409652072448?s=20

 

how hard do you think 'they' squeezed him to restrict trading?

i caught the beginning..but had to walk the dog...so missed the middle and end...watching it all now...
basically sounded like they preemptively stopped trading cause they essentially got margin called into a corner.
and the hedge guys probably are like F U RH...you're gonna have to eat this one if you wanna play in the big leagues...

also, if i had to throw RH a bone....it just seems like RH is a typical 'start up' i.e. they're still figuring it out...breaking stuff as they go...

 

I haven’t had a chance to listen yet, I will in the morning. Did he stay consistent as to what he was saying during the hearing last week?

 

Gist of it from Robinhoods perspective...
People buy a shit ton of $GME...shares and options.
$GME goes through the roof..
OPTIONS get exercised and people are buying....A shit ton of shares are now owed.
RH has to buy those shares on the open market to fill the orders with cash that doesn't exist because the value of the calls have gone up so much and they never secured the shares (like they are supposed to) to cover the call shares owed.
Cash hasn't settled...they don't have the shares to fill the orders...And this is a crucial part of the short squeeze...no shares available so prices spike...
SO what does RH do to alleviate their broke ass that had to buy shares with money that didn't exist because prices kept going up and users kept buying and exercising options???
HALT BUYING

...Sell sell sell.
Shares fill open orders.

Act like you're a goddamn hero for saving the company...

OH and lie in the senate hearings when under oath you said you didn't have a liquidity issue...

 

TLD;DR - so basically RH got margin called, and while they were allegedly be able to meet margin, they still fucked retail.
Vlad's defense is "hey we're still new to this and figuring out all this fancy, free trading stuff to help you all, and we were able to meet our margin call cause i called a bunch of favors so we wouldn't have to fuck our customers more by completely shutting down our platform."

longer version (similar to what was discussed during the hearing):
there was so much pressure/volatility on GME (and other meme stocks), the market makers increased margin requirements.
RH was like...oh shit...we don't have that, so Vlad made calls to raise 3 billion to cover it...but then, in addition or later (unclear), RH restricted buying (to blow off steam on the margin requirement side of things). This basically eliminated significant buy side pressure (i.e. eliminated the squeeze from progressing further. DUH!).
On account of this, allegedly RH margin requirements were reduced to 1 billion.
Vlad also said a bunch of shit to deflect responsibility or 'wrongdoing' because he RAISED 3 BILLION!! (OH WOW, WHAT AN ACHIEVEMENT! Here's a medal!).

so more or less what he said in the hearing...
They got caught with their pants down.

the internet def accelerated price pressure, so you could argue that side of it is 'unprecedented'...

I'm sure there was some backroom deals on the citadel side since they were out a shit ton of money.

 

beat me to the post!

 

the stock was headed for the fucking moon...
market be damned...It was taking the whole thing down...I'd be sitting on 300 shares at 2,000 a share and the cash to buy everything else that crashed...instead I get 1/10th of that and yes I am complaining

 

I like how it's "Meme stock activity"
and not a massive fucking short squeeze..
Like people had no business buying $GME even though it did exactly what it was anticipated to do when people bought the $40 Jan calls like I did for $700 and sold them for $22,000

 

13 shares here would've been a nice quick 20K. Instead out $2100. I'll listen to anyone complain when it's the truth.

 

i'm with y'all...i'm in the hole too...

i got $75 bucks from RH after the covid sell off after complaining...
i don't get the sense that they're doing that this time...

 

Yea until later on into the hearing you have to eat your words.... At least stay consistent if you’re going to lie.

 

So I was -21K at the bottom...but my $NRGU wasn't getting beat up so my bargain hunter sold 50 shares and used THAT money to buy more of other things that I was already confident in...
It closed -5K
and NOW
I'm green pre-market
3K....

 

I'm watching $DPZ like a hawk..
I bought the $365 call for earnings tomorrow when it dipped...It's going to be $$ if it's green today...I MIGHT just close it before earning just to make $$ because it's in my IRA.

 

@kairo was trying to explain this to people....and he looked like a big meanie...

I think my $42 shares will eventually prove sell-able...

 

Lucid is no Tesla though.

Lucid = EV only

Tesla = EV, solar panels, energy storage

 

I basically bought

$CTXR & $ITRM both up almost 10% since I added yestereday

and
$GERN added shares on the dip, it's flat right now, bit I also had MAR $2 calls that were up in $$ but I didn't want to sell them without establishing a NEW long call position so I was able to buy 10 June $2 calls on the dip yesterday...
Basically I feel ecstatic today that every play I made is panning out big green AND $NRGU is still green too....

I feel in 2 or 3 months the money I spent today could 2x or 3x....

But it is all pharma bets and we saw was BCLI did on friday when they borked their Phase 3 FDA submission