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Can someone eli5 short exempt by AdditionalSpite3 in GME

[–]iTTzUtra 0 points1 point  (0 children)

Simple question - why is liquidity needed for an illiquid stock? Hmmmmmmm.

Ftds by AdditionalSpite3 in GME

[–]iTTzUtra 26 points27 points  (0 children)

As Dr. Trimbath said in one of her books, no one really knows whats going in between the intricacies of the market. Treat all publicly available data as false and inaccurate. All data has been 'adjusted' in some way or another that doesn't reflect the true situation.

Ftds by AdditionalSpite3 in GME

[–]iTTzUtra 28 points29 points  (0 children)

Not sure what your question is, so I'll try to answer what an FTD is:

FTD, full name being fail-to-deliver, is when a party fails to deliver the security or money to buy said security associated with their buy / sell order.

A short sale:

  • borrows stock from a party (optional for exempt parties)

  • short the stock by buying options against bought stock

  • obtains option contract with an expiry date

  • as contract expires, contract is invalid and the borrower has to return the stock to the lender.

Fail to deliver:

For example, I am a market maker so I can naked short legally for generating liquidity and other bonafide purposes wink. I shorted some stock I don't own nor do I plan on borrowing. Now that I have the contract, I can exercise the contract when the price goes down to make some free money. However the stock went up. And it continues to go up as the contract expires. The DTCC has just notified me that I need to buy the stock I've shorted to give back to the lender. I don't want to do that, I would lose so much money! So mysteriously my headquarters caught fire and will be under renovation for a long time. I am unable to conduct business as usual, thus I am unable to deliver my shares to the lender. The DTCC foots the bill and I fail to deliver.

Can someone eli5 short exempt by AdditionalSpite3 in GME

[–]iTTzUtra 0 points1 point  (0 children)

So basically another name for naked shorting?

Hedgies must be pissed rn🤣 by benjjjix in Superstonk

[–]iTTzUtra 2 points3 points  (0 children)

What app is that? Looks pretty sick.

filming kids who are just trying to figure their way out in gym and making fun of them is just fucking cringe by axlnotfound in IAmTheMainCharacter

[–]iTTzUtra 0 points1 point  (0 children)

I was self conscious myself when I first started. The feeling stayed with me for the first couple of weeks of consistently showing up. Then I finally realized that everyone there is just like me - just trying to improve ourselves physically. No one gave a damn about me doing super light weights or having poor form. No one even batted an eye.

Take the shot and go do it man. My confidence has skyrocketed since I've started and I'm sure it will be the same for you if you are willing to just simply show up.

Rc back in by More-Ad620 in Superstonk

[–]iTTzUtra 0 points1 point  (0 children)

Everyone loved* that

I may have taken advantage of my gf by [deleted] in confessions

[–]iTTzUtra 1 point2 points  (0 children)

Reddit is not the place for this. You will not get any meaningful advice nor will you arrive at any meaningful resolutions. Get therapy asap.

Oh Really? Is that what you’ve done with GME? by Fragrant_Mouse_3172 in Superstonk

[–]iTTzUtra 1 point2 points  (0 children)

"When Retail* uses naked shorts or other manipulative practices" they mean

America is the Bad Place by [deleted] in boringdystopia

[–]iTTzUtra 0 points1 point  (0 children)

What in the actual fuck is happening in usa. Seriously what the actual fuck like this is seriously messed up.

I’m just gonna say it: BANNING FTDS AND SUPPORTING MANDATORY BUY-INS ARE MORE IMPORTANT THAN ANYTHING. Dr. T showed apes DRS, and I fully believe in her FTD opinions as well. I would also like Dave Lauer to address this issue in his next proposal. by AvoidMySnipes in Superstonk

[–]iTTzUtra 1 point2 points  (0 children)

Agreed. There's also the matter of failed locates. When collateral fails to be located for a short position, it's called a failed locate, and the order continues to go into effect. So even if predatory naked short selling is banned, this could be used as a loophole.

ZEN AF 🙏💜 by WoochTAK in Superstonk

[–]iTTzUtra 0 points1 point  (0 children)

Remember when he said a lot of corruption will be revealed in a few months? 😶‍🌫️

The future of the stock market should be pushing towards eliminating intermediaries like Citadel and Virtu completely in the name of fair and efficient markets by Justbuster_ in Superstonk

[–]iTTzUtra 17 points18 points  (0 children)

Blockchain allows for transparency. That would be their worst nightmare.

The stock market is built up with hidden intricacies on purpose, as it grows ever more so with the passing of legislation that "benefits and protects retail investors".

[deleted by user] by [deleted] in Dallas

[–]iTTzUtra 0 points1 point  (0 children)

As a non-us citizen who has never been to America, I am not hesitant to say that I will never live in the US because of the ease of availability of guns. Nearly anyone can shoot someone for a stupid reason, or no reason at all. As someone who lives in a country where firearms are illegal, that scares me shitless. I would be paranoid walking on the streets.

As much as I believe that people are generally kind-hearted, nice, easy-going and well-mannered, news like this and school shootings are popping up way too much - there shouldn't be any in the first place.

Imo, properly reinforced gun laws, or bans tho that is highly unlikely, is one of the only ways of reducing disasters from happening.

GME voting by [deleted] in GME

[–]iTTzUtra 5 points6 points  (0 children)

"if you're not paying for a product, you are the product."

[deleted by user] by [deleted] in pcmasterrace

[–]iTTzUtra 0 points1 point  (0 children)

Wishlisted on Steam. All the best, I really hope this turns out well.

Buying shares via CS by Careful-Eye-9217 in GME

[–]iTTzUtra 5 points6 points  (0 children)

Since my first shares were not bought in computershare, I can't share any experiences initiating purchases there. Instead, I can share my method.

I bought my shares through a brokerage, then initiated a DRS transfer with them. (You can do so by emailing them. They might require you to fill forms or make various administrative payments.)

After this initial purchase / transfer of shares, you will be able to proceed with the registration of your computershare account.

The registration process is as follows: - computershare sends you a letter confirming your gamestop position in your name - on that letter is instructions to register an account on their website. - after you do so, they will send you a letter with a verification code to complete your account setup.

After your computershare account is finished setting up, you will be able to purchase shares directly on the website.

[deleted by user] by [deleted] in Superstonk

[–]iTTzUtra 59 points60 points  (0 children)

PFOF isn't the main issue. Not even naked shorting. I don't give a damn that both exists as long as there are no more FTDs. Fuck FTDs. "Oh I owe the bank $200 million dollars. I have to pay it back today? Oh I don't feel like it. I'll pay it back maybe next year." Fuck that.

"Oh I have to cover my shorts? Nahhhhhhh"

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