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Robinhood reports outage as markets rebound

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Re: Robinhood reports outage as markets rebound

#131

Post by EpicEng »

nodesocket wrote: post #122
ecnahc515 wrote: post #120

Earlier quoted context omitted.

My favorite part is this comment: https://twitter.com/holman/status/1234620062398464002 https://www.reddit.com/r/RobinHood/comments/48mep4/robinhood... Additionally, if you’re a conspiracy theorist — and who isn't, in this wild 2020 ride — Robinhood was down exactly four years ago today, too, lol

> Same here CALL ROBINHOOD ASAP. I spoke with them myself and they are aware. IF YOU NEED TO MAKE TRADES THEY CAN DO IT FOR YOU! I didn't even know they had a phone number you could call. This should have been emailed out after the first hour of the outage. Or, how about you have a better system down page then just a blank website? If API health checks fail, serve a static site from S3 (route53 can do this). The ops…

>"We are experiencing a technical outage... . If you need to make trades, please do so via phone at 1-800-SHORT-RH"

"You're call will be taken in the order it was rexeived. Current wait time: 1,732 minutes."

Re: Robinhood reports outage as markets rebound

#132

Post by sombremesa »

wasdfff wrote: post #126
yebyen wrote: post #103

Earlier quoted context omitted.

If they are down for one full day out of every 365, that's still a potential ceiling of 99.726% uptime for the year. My home internet was down 14% of the afternoon on Sunday this week, and on through the evening. On a month-to-month basis, I can't even seem to crack 99% reliability. (Geez, I should really call them on it, or perhaps get a new modem...) Point is, how high is Comcast's valuation again exactly?

Your internet goes down, you can’t watch netflix. Boo hoo. Your brokerage goes down, you can’t exit your positions, and, well, just look at the hundreds of thousands of dollars lost on reddit today. People were using their student loan money in their brokerage accounts. It really is a disaster.

Not to mention TSB didn't just go down, it let people access other people's accounts!

Re: Robinhood reports outage as markets rebound

#133

Post by manigandham »

sombremesa wrote: post #130
nostromo wrote: post #70

Earlier quoted context omitted.

I think there's a mix of in-on-the-joke and not. I've read some sad stories about, for example, a student betting student loan money in the market and losing it instantly, lured to make risky bets from the other stories of dumb luck success. Here's someone I don't think is in on the joke: https://i.redd.it/at7gloeb5ck41.jpg ... oops

They didn't actually lose that much money, since they bought options. By my mental math they lost about $9000 (give or take a few hundred). Still bad, but better than losing hundreds of thousands. Edit: I stand corrected, see below.

How are you calculating this? You wouldn't have a total return of -$722k if you only lost $9k.

They could easily have 1M worth of options that have now decreased in value, which is what it looks like since AMZN went up Friday and today.

Re: Robinhood reports outage as markets rebound

#134

Post by sombremesa »

kaffeemitsahne wrote: post #84
daenz wrote: post #43

What are the odds that this was a cyberterrorism attack? If you can predict this kind of market event (the bounce back), and you want to hurt a company and its users, you would simply DDoS at the right time.

If you can predict this kind of market event I imagine you've got better things to do.

Well, all you have to predict is that the market will move - the direction wouldn't matter much, since the brokerage has customers trying to do both calls and puts.

Re: Robinhood reports outage as markets rebound

#135

Post by esoterica »

predictmktegirl wrote: post #54
nostromo wrote: post #16

Reading Reddit's WallStreetBets has been unintentionally hilarious. https://www.reddit.com/r/wallstreetbets/ Folks were leveraging up all last week and buying puts, thinking the market was tanking to zero and we're all going to die of "beer virus" as they call it -- and are getting a harsh lesson about timing the market today. They’ve been giving so much leverage to broke young people, I wouldn’t even be surprised to…

Some of us had puts from last month which were well in profit. I personally have lost over $5k from this outage even though I'm technically not negative on my position. Painting all RH users as gamblers is pretty arrogant.

Buying short-dated options to bet on which direction the market is going to move is 100% gambling.

Re: Robinhood reports outage as markets rebound

#136

Post by sombremesa »

manigandham wrote: post #133
sombremesa wrote: post #130

Earlier quoted context omitted.

They didn't actually lose that much money, since they bought options. By my mental math they lost about $9000 (give or take a few hundred). Still bad, but better than losing hundreds of thousands. Edit: I stand corrected, see below.

How are you calculating this? You wouldn't have a total return of -$722k if you only lost $9k. They could easily have 1M worth of options that have now decreased in value, which is what it looks like since AMZN went up Friday and today.

Edit: see below. My math was a bit off.

Re: Robinhood reports outage as markets rebound

#137

Post by thefreeman »

sombremesa wrote: post #136
manigandham wrote: post #133

Earlier quoted context omitted.

How are you calculating this? You wouldn't have a total return of -$722k if you only lost $9k. They could easily have 1M worth of options that have now decreased in value, which is what it looks like since AMZN went up Friday and today.

Edit: see below. My math was a bit off.

no... it’s 140 option contracts which provides the option for 14000 shares. they were bought for $66 x 100 x 140 = $924,000 and are now worth $14.43 x 100 x 140 = $202,000.

Re: Robinhood reports outage as markets rebound

#139

Post by chance_state »

manigandham wrote: post #117
halotrope wrote: post #73

Apparently leap day is the cause: https://mobile.twitter.com/jtech63/status/123460004578739404... Also rumor has it they “lost user data and the backups are not working as expected” Edit: This is the tweet. Not sure if it is legit: https://mobile.twitter.com/classrobinhood/status/12345774264...

This person is probing an API which is already down so of course there are errors. Robinhood would be using a proper date library anyway to handle timezones. The system was fine on the 29th, 1st and even this morning pre-market. Seems more like a capacity issue that cascaded into failure.

The chances that it was also down exactly 4 years ago today (it was) are astronomical though.

Re: Robinhood reports outage as markets rebound

#140

Post by apta »

wasdfff wrote: post #126
yebyen wrote: post #103

Earlier quoted context omitted.

If they are down for one full day out of every 365, that's still a potential ceiling of 99.726% uptime for the year. My home internet was down 14% of the afternoon on Sunday this week, and on through the evening. On a month-to-month basis, I can't even seem to crack 99% reliability. (Geez, I should really call them on it, or perhaps get a new modem...) Point is, how high is Comcast's valuation again exactly?

Your internet goes down, you can’t watch netflix. Boo hoo. Your brokerage goes down, you can’t exit your positions, and, well, just look at the hundreds of thousands of dollars lost on reddit today. People were using their student loan money in their brokerage accounts. It really is a disaster.

> People were using their student loan money in their brokerage accounts

Doesn't sound like the smartest thing to do.

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