Reddit’s profane, greedy traders are shaking up the stock market

Post by WA » Thu, Feb 27, 2020, 12:48 PM UTC

rolltiide wrote: post #279

zpwe wrote: post #64

So I was one of the first people on Wallstreetbets to post options YOLO around 2015, back then it was nothing but rainbow dick banners and penny stocks. I had previously interned at a brokerage and had just graduated college with a degree in physics(I understood the math behind options). Not hearing back from quant trading firms because I guess BSc is not enough for them, I said fuck it and started taking speculative…

I absolutely love that Wall Street Bets has graduated from penny stocks to options bets. It was so frustrating in the earlier days of WSB to want to talk about options. The rules were that "it was the place to talk about VIX and speculative options trades" but it was just full of trash about biomed penny stocks and FDA approval gambles. It was what set it apart from other "finance" communities online and especially r…

Post by murph-almighty » Thu, Feb 27, 2020, 1:24 PM UTC

manicdee wrote: post #197

floatingatoll wrote: post #142

Earlier quoted context omitted.

3) You don’t need to have complete data to report what you think is a market manipulation scheme to the SEC for investigation: > Tips - Report a potential violation of the securities laws directly to enforcement@sec.gov. Please do not use this email box for general comments or questions.

Just remember that reporting things to the SEC makes you the enemy. The SEC exists to protect the people exchanging securities.

Post by kgwgk » Thu, Feb 27, 2020, 1:56 PM UTC

pbhjpbhj wrote: post #290

kgwgk wrote: post #282

Earlier quoted context omitted.

> selling order flow data to hft and market making hedge funds but I don't think those funds execute the orders themselves The order flow data is worthless (because the orders come from uninformed traders) the value is in filling them without the risk of being shortchanged (because the orders come from uninformed traders).

Surely the order flow is mostly going to look like noise, random. But things like local information and employee information would provide some signal - correlated trading patterns - that indicates there could be some information available to inform a trade. Allowing one to either trade on the meta-signal or seek the information behind it (and then trade). So if you've got a company and the city in which it's headqua…

Post by jacobush » Thu, Feb 27, 2020, 2:10 PM UTC

lorenzfx wrote: post #308

jacobush wrote: post #301

Earlier quoted context omitted.

In Sweden someone was convicted for triggering such bots to do stupid things. Morale: if you are big player, you file a lawsuit. If you are a small player, you get convicted. If your bots do "stupid things".

Do you have more details?

Post by blaser-waffle » Thu, Feb 27, 2020, 2:11 PM UTC

josu wrote: post #255

vikramkr wrote: post #204

Earlier quoted context omitted.

A comment I'm sure you expected you'd get on this forum: you're gonna have to elaborate a bit on/defend a bit that opening line there about being one of the best options traders in the world.

Seems like WSB is leaking.