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01-28-2021, 10:56 AM | #6871 |
Banned
Join Date: Jan 2013
Casino cash: $9998560
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I bought into GME last night through RH but my orders were cancelled this morning.
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Posts: 53,803
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01-28-2021, 11:00 AM | #6872 | |
Sexiest Athlete
Join Date: Apr 2001
Casino cash: $-318075
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01-28-2021, 11:01 AM | #6873 |
"You like to drink?"
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It's allowed because the physical possessors of the stock being shorted will collect premiums at some point in the process.
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01-28-2021, 11:01 AM | #6874 |
Veteran
Join Date: Jan 2004
Location: Lawrence
Casino cash: $1161995
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You aren't really "borrowing". You are entering a contract that gives you the option to execute a trade at a certain point for a certain price. Until that point happens, you don't "own" the stock at all, you just own the contract that says you can buy X amount of shares at a certain point. You can sell that contract and never buy a single share of actual stock.
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01-28-2021, 11:04 AM | #6875 | |
The Seated Villain
Join Date: Apr 2007
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01-28-2021, 11:06 AM | #6876 |
Sexiest Athlete
Join Date: Apr 2001
Casino cash: $-318075
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Think of it as a kind of "predictive (or speculative) arbitrage".
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Posts: 12,685
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01-28-2021, 11:08 AM | #6877 |
Sexiest Athlete
Join Date: Apr 2001
Casino cash: $-318075
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This price action today is absolutely fascinating...
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Posts: 12,685
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01-28-2021, 11:13 AM | #6878 |
Kind of a mod
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Location: Donkey Land
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01-28-2021, 11:24 AM | #6879 | |
Veteran
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01-28-2021, 11:29 AM | #6880 |
When pigs fly
Join Date: Nov 2010
Location: Kansas
Casino cash: $8824785
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In that sense though, whoever actually owns the equity...do they have say in what happens with it? For the duration that the stock is shorted, can the actual owner do anything with it? Or are they forced to hold until the contract is expired? Are their time limits for when a short has to be executed in?
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Posts: 3,337
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01-28-2021, 11:30 AM | #6881 |
2 Legit 2 Colquitt
Join Date: Sep 2010
Casino cash: $3555754
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You guys, the price has not crashed yet. There is massive pressure pushing in both directions right now. As long as the outstanding shorts exceed 100% of float a squeeze remains likely. This is going to stay super volatile for the next week or so.
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Posts: 4,760
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01-28-2021, 11:30 AM | #6882 |
"You like to drink?"
Join Date: Jun 2006
Location: "I like to drink."
Casino cash: $1406869
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No it's pretty clear from mainstream news coverage that this isn't Robinhood looking out for their users' interest. They're covering for the hedge funds who are getting BTFO by a bunch of barbarians instead of their Ivy-league educated, big moneyed competitors.
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01-28-2021, 11:34 AM | #6883 | |
2 Legit 2 Colquitt
Join Date: Sep 2010
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01-28-2021, 11:35 AM | #6884 |
The Seated Villain
Join Date: Apr 2007
Location: Seattle
Casino cash: $1110247
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You can't actually believe this.
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With a sack in 61% of his games, SB MVP Von Miller is the most consistent pass rusher in NFL history. |
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01-28-2021, 11:40 AM | #6885 |
MVP
Join Date: Sep 2004
Location: San Diego, CA
Casino cash: $363342
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The **** it is. This whole thing basically bankrupted Melvin (hedge fund), and Citadel helped bail them out. The guy who founded Citadel owns a huge stake in Robinhood, so he made a call. This is protecting the hedge funds, and has nothing to do with protecting its users. I hope RH gets buried over this.
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