DISQUS

James · 1 year ago

Some clueless idiot on bloomberg is praising lewis and his brilliant moves. also calling for the SEC to rain in short selling . Is it any surprise that were in this situation when people like him are running big institutions?

Adam · 1 year ago

I just think it's kind of misplaced beautification here. He's literally taking house money and putting it on black.

Blame the Shorts though, lmao.

GS751 · 1 year ago

hahah I hate games where you have a negative expectation games, philosophically if it has a negative expectation is it really a game? Yeah the problem is the short sellers, not the phony accounting, or idiot management.

Adam · 1 year ago

Maybe we'll find out that shorts had time machines and managed LEH and put all that paper on their book first.

goo · 1 year ago

negative expection games are all over vegas bro.

Adam · 1 year ago

negative expectations on my "teaser" nfl picks 0-2 so far this year, lol.

Done in this week by my lack of confidence in my own team, i didn't see the giants rout coming.

anon#2 · 1 year ago

I may guilty of sexism here - but when MCC fawns over these guys and pumps them up to be the "titans of industry and commerce" - men (and in some cases women) who have the "acumen and intestinal fortitude that far exceeds that of the average person" - it almost reminds me of the banter I would get from strippers at strip clubs (back when I was into that sort of stuff).

You could always count on a "hey handsome" or "hey big guy" or "hey lover boy" or etc. etc. etc. from the gals when you came in and had a decent rep for tipping.

MCC isn't getting the conventional tip for her banter - maybe she just sees it as helping her odds for getting another interview. But on the other hand - in my gut I think she really does believe this shit.

Adam · 1 year ago

they do always have that "we're not worthy" mindset when they interview a (gasp, swoon) CEO. They all do it though, except maybe Haines.

anon · 1 year ago

You probably meant by 10 AM VIX fell to 29, not 19. Looks like a typo to me. Thanks for the great blog by the way. :)

Adam · 1 year ago

oops, thanks, I meant 29.

puck · 1 year ago

Are options openings orderly like a regular mkt, or are they still scummy? My question being, say you put in an order to sell Sept 19 Puts on the UYG today at Fridays close of .75, now for arguments sake, the UYG opened up at $16 so the theoretical value would be $3 and a bit higher with some sort of premium. Would they open the mkt and improve your .75 sell order to $3 (or whatever the Opening was) or would they be able to screw you and buy your puts at .75 or 1.50?

Adam · 1 year ago

they'd have to give you something resembling a fair price. Options go thru an opening rotation. As soon as the stock opens, they machines will open all the options. Most are quotes, but those with "good" orders will trade. And you would basically be executed on the bid they would have put up. They can't print it thru some other exchange's bid, so even if the exchange that has your order open's first, they can't violate a fair bid too fair as someone else is likely to open the option within a few seconds.

deltaStrike · 1 year ago

I know that CNBC is usually right about market turns, lol but call me crazy I think we need a VIX closer to 40 for true fear right now..seems as if everyone is getting used to these weekend implosions followed by monday/tuesday bottoms. The market will not give you what you expect time and time again. If we think we have seen unreal vol. just wait because this market will show us something that we havent seen in years if we all expect that "same thesis" that volatility cant get higher. I guess all Im saying is that this feels a bit different from past episodes and Im actually surprised we are holding that 1200 level. This could have simply been the generic VIX pop, with a true Viagra pop on the horizon, lol.

Adam · 1 year ago

yup. totally agree. I was honestly surprised in March when it did almost the exact same thing as January in that respect. It's just not that simple. Something we don't expect will happen.