‘Roaring Kitty’ Sued for Securities Fraud over GameStop Rise

Post by emteycz » Wed, Feb 17, 2021, 7:44 PM UTC

newacct583 wrote: post #17

collias wrote: post #3

"The would-be plaintiff representing investors in the case, Christian Iovin of Washington state, sold $200,000 worth of call options on GameStop shares when the stock was below $100. The stock quickly eclipsed $400 a share, forcing him to buy the calls back at elevated prices." He's being sued by someone who sold naked call options and got burned. This case is going nowhere. I'd love to start suing people for every t…

Indeed, there's no meat to the suit detailed. Still, though. The fact that DeepFuckingValue just turns out to have been a licensed broker complicates the narrative quite a bit. Needless to say he can be expected to have known that the whole short trading theory of "Hold the Line" was bunk, and did nothing to disabuse the community of it. I say it every time this comes up: this guy's criminal exposure is really signif…

Post by sokoloff » Wed, Feb 17, 2021, 7:45 PM UTC

newacct583 wrote: post #17

collias wrote: post #3

"The would-be plaintiff representing investors in the case, Christian Iovin of Washington state, sold $200,000 worth of call options on GameStop shares when the stock was below $100. The stock quickly eclipsed $400 a share, forcing him to buy the calls back at elevated prices." He's being sued by someone who sold naked call options and got burned. This case is going nowhere. I'd love to start suing people for every t…

Indeed, there's no meat to the suit detailed. Still, though. The fact that DeepFuckingValue just turns out to have been a licensed broker complicates the narrative quite a bit. Needless to say he can be expected to have known that the whole short trading theory of "Hold the Line" was bunk, and did nothing to disabuse the community of it. I say it every time this comes up: this guy's criminal exposure is really signif…

Post by centimeter » Wed, Feb 17, 2021, 7:46 PM UTC

gruez wrote: post #22

outoftheabyss wrote: post #12

I find it nauseating seeing the financial press, politicians and big time players claiming that their actions and ‘concern’ is based on not wanting retail investors to lose money as a stock peaks. Be honest, you don’t give a shit and even if this was your motivation, people have autonomy in the markets, although sometimes naive, they know the risks. Stop treating retail investors as children that need saving when in…

>people have autonomy in the markets, although sometimes naive, they know the risks. Why? Because they ticked the "I'm an experienced options trader" box? This guy did, but clearly didn't understand how options worked. https://news.ycombinator.com/item?id=23523246

Post by throwaway6734 » Wed, Feb 17, 2021, 7:48 PM UTC

newacct583 wrote: post #17

collias wrote: post #3

"The would-be plaintiff representing investors in the case, Christian Iovin of Washington state, sold $200,000 worth of call options on GameStop shares when the stock was below $100. The stock quickly eclipsed $400 a share, forcing him to buy the calls back at elevated prices." He's being sued by someone who sold naked call options and got burned. This case is going nowhere. I'd love to start suing people for every t…

Indeed, there's no meat to the suit detailed. Still, though. The fact that DeepFuckingValue just turns out to have been a licensed broker complicates the narrative quite a bit. Needless to say he can be expected to have known that the whole short trading theory of "Hold the Line" was bunk, and did nothing to disabuse the community of it. I say it every time this comes up: this guy's criminal exposure is really signif…

Post by snicksnak » Wed, Feb 17, 2021, 7:49 PM UTC