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Reddit r/WSB bankrupts Hedge Fund using Robinhood

MJ DeMarco

I followed the science; all I found was money.
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Or if you're feeling speculative, the only (safe) option play on this are spreads to invalidate the high implied volatilies ... I'd go with long put spreads or short call spreads, namely because Gamestop is a turd of a company.

Out of curiosity I tried to buy a long call spread on AMC and was denied -- first the spread, and then the legs.

You can only buy long calls ... TDA has restricted any kind of "sell to open"

Unbelievable, considering my account is seven figures with full portfolio margin.

Having these option strategies disallowed is like going to war with sticks and stones. They've ensured that the only bets to be made, are the sucker bets ... that's like taking away the double down in blackjack, except when dealt cards 12 thru 16. Gee thanks!
 
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Einfamilienhaus

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Unfortunately I dont understand this whole topic, even when I have great interest to understand it! I only understand that if it goes up = great, when it goes down = bad.

So what is the goal of this whole "movement"? Do these people want to make money or do they want to hold these stocks because short-sellers lose more money in the first place? I just can't imagine that Gamstop, Nokia, BlackBerry, AMC.. have real value in the business world which could make them profitable by just holding or at least, as long the Hype is still existing.

Is it just a hype created by the people of "Wallstreetbets" from behind to make even more profits? I just cant imagine that those people are willing to lose millions of dollars just for the sense of humanity. Especially when it comes to money.

I would be happy, if someone could explain to me in the easiest words as possible.
 
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csalvato

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Until the government tries to regulate, tax, or outright ban it.

Ask the owners of gold in 1933 how that worked out for them?
Gold could be seized.

BTC cannot.

When things that are not seized go illegal, what normally happens?

Hint: Alochol Prohibition, Prostitution, Drugs.

A ban isn't a risk, it's probably the best thing that could happen.
 

theag

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I would be happy, if someone could explain to me in the easiest words as possible.
There is no movement. It's just plain old greed at the top of a market cycle. Fueled by dumb helicopter money.
 
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lludwig

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Gold could be seized.

BTC cannot.

LOL... Right. Thinks something is digital means it can't be tracked. Isn't most of our currency already digital?

As proven in Communist Russia, it's true commerce will always happen even underground.

The government can make life very difficult by banning it as you are still physical.

I'm not saying I'm for any of this but it's foolish to think it can't be seized. In 1933 they didn't seize 100% of the gold either. But most they did.
 
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Kak

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socaldude

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Well, after all this is said and done you know they’re gonna push for more regulation. That’s what I’m afraid of. They’re gonna use the BS ruse that they need to “protect” the retail investor from himself and the “markets” from “instability”.

I watched all this happen from the beginning and when it reached the mainstream, I knew it was gonna cause trouble for retail investors.

Those puts on GameStop look insane though LOL. Market makers are pissed lol. The expected move is basically the price of the stock and then some lol.

The liquidity crunch across the board is probably driving up VIX.
 

AFMKelvin

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AFMKelvin

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LOL... Right. Thinks something is digital means it can't be tracked. Isn't most of our currency already digital?

As proven in Communist Russia, it's true commerce will always happen even underground.

The government can make life very difficult by banning it as you are still physical.

I'm not saying I'm for any of this but it's foolish to think it can't be seized. In 1933 they didn't seize 100% of the gold either. But most they did.
Pretty naive. If the government wants to steal your stuff, they will steal your stuff.

I want to believe it, I really do. But I guess I'm just too much of a realist.

How do you think they'll seize a bitcoin?
 

theag

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How do you think they'll seize a bitcoin?
Best case:
Same way as with taxes. Throwing you in jail if you don't comply. Sure, it might work for some time, but most tax evaders eventually get caught.

Worst case:
By putting a gun to your head and pulling the trigger if you don't transfer it.
 

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How do you think they'll seize a bitcoin?
Not to get off track but one way other than by forced hacking is usually by extortion. You sign a forfeiture or you go to jail for 20 years. After all they will say BTC is only used for illegal purposes and serves no other purpose. And you don’t have a money transmitter license.

The govt will contract to a third party Bitcoin attribution service and analyze the transactions to identify the owner. Unless you use a tumbler. I own some Bitcoin and I I’m guessing it will play out like that. It’s not gonna be easy for our govt to give up its money addiction and control.
 
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AceVentures

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By putting a gun to your head and pulling the trigger if you don't transfer it.

I mean by that logic you could say anything.

I'm not saying you should be naive about the lengths gov will go to protect its interests - but if we look at the extreme end of the probability distribution, then nothing really matters.

e.g Don't be a business owner, because the government will put a gun to your head and take your business.
 

theag

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I mean by that logic you could say anything.

I'm not saying you should be naive about the lengths gov will go to protect its interests - but if we look at the extreme end of the probability distribution, then nothing really matters.

e.g Don't be a business owner, because the government will put a gun to your head and take your business.
Yes, agreed. The world will truly have to go to shit for that to happen, so I named this my "worst case". Edited my post after you had already replied.

I think my "best case", the comparison with taxes, is pretty realistic in the short term though.
 

lludwig

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NovaAria

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Out of curiosity I tried to buy a long call spread on AMC and was denied -- first the spread, and then the legs.

You can only buy long calls ... TDA has restricted any kind of "sell to open"

Unbelievable, considering my account is seven figures with full portfolio margin.

Having these option strategies disallowed is like going to war with sticks and stones. They've ensured that the only bets to be made, are the sucker bets ... that's like taking away the double down in blackjack, except when dealt cards 12 thru 16. Gee thanks!
What I am really curious about is the social sentiment that comes with this.
In 2008 everyone was sitting around and then talking heads showed up on tv and said that the economy is bust because bankers gambled too much. Sure. Everyone but those at the top of the top lost from it, and everyone was angry, but at the end of the day it just came and went without anyone outside of the bankers "making a wrong move".
Right now, though, the story is completely different. People bandwagoned on a meme stock, bought in, looked at their own numbers go green and tapped each other at the back for sticking it to the man. But then brokers pulled the "we cant have you do that" card. "For your own safety we're locking you out of buying in and you will spend the night watching your tickers go red" and "A hedge fund F***ed up so watch as we just rinse you out of your money to bail them out again".

These lines are what's going on in people's heads this time. It's not like 2008 where it was someone at the top messing up and causing the economy to go bust, this time it's someone at the top messing, you making money off their mistake, and them saying "unfair, rewind and let's do it again".
Will we get another Occupy WS movement? Last one fizzled out because it lost its focus, but am curious what will happen if new regulations that will "protect people from themselves" showed up.
 

AFMKelvin

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Guest-5ty5s4

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Can anyone confirm this?

It sounds more and more like the law is trying to hurt small investors and screw us over for the sake of the institutions.
 
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Guest-5ty5s4

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I mean by that logic you could say anything.

I'm not saying you should be naive about the lengths gov will go to protect its interests - but if we look at the extreme end of the probability distribution, then nothing really matters.

e.g Don't be a business owner, because the government will put a gun to your head and take your business.
It has happened before.

The best way to prevent it from happening again is to talk about it.

That way people are thinking about it when they vote, they’re talking about it online, and we can push things a little bit in the direction opposite of total loss of control and serfdom.
 

Kal-El1998

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I for one am just happy to see these unethical hacks be stressed to death for once. Serves them right for rigging the game...even if their pain is temporary.

what sucks in all this is that ultimately a move like this will likely never be possible again, there will be even more restrictive rules for the common folk to keep them from ever getting rich. They'll be allowed to lose wayyy more money though.

Even though these hedge funds will go bankrupt, we as the tax payers are going to fund it in the end when the banks bail them out.

At this point all I can hope for is as much pain to be inflicted on these billionaires before that happens.

And yes, I am extremely bitter towards anyone who rigs a system.
 

JordanK

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0A4C351D-D440-4CF2-9823-0BF1E799B0EF.png

Revolut in Europe casually pulling this stunt! My account is in limbo land now.

(This was a general announcement not a message directed specifically to me)

A68D20D6-CC37-44A1-91F2-605F5A69A23D.jpeg
 

Xeon

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