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

bloomberg.com

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

#71

Post by bdcravens »

alexpotato wrote: post #35

Back in the early 2000's I worked for a company that was was hired (via intermediary law firms) by publicly listed companies to investigate pump and dump schemes on Yahoo message boards (you might call that the "Reddit of the early 2000's"). It involved a lot of web scraping Yahoo with Perl (specifically LWP) and then lots of analysis by humans with some help from automated tools. For example, if you plotted a histog…

> Coupled with Lexis Nexis (which was just coming online at the time)

Lexis Nexis has been around a lot longer than that. By "online" do you mean web accessible?

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

#72

Post by chipperyman573 »

ipnon wrote: post #69
chipperyman573 wrote: post #42

Earlier quoted context omitted.

Wow, I'm not sure if it was intentional but the alt text can be interpenetrated to be the same as GP's idea

I learned a new word today https://www.wordnik.com/words/interpenetrate

Hahaha I meant interpret

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

#73

Post by metalliqaz »

rantwasp wrote: post #28
safog wrote: post #23

Come on man, there's no where near enough volume there to move anything but the most low volume of stocks. All they trade in is meme stocks like TSLA, NFLX, MSFT, AAPL etc., and a few 100k on calls here or there won't budge the price in the slightest. On top of that, it's not even a P&D group, people there are just trading against each other, you have both bears and bulls and thetas. There's never been a concerted ef…

hmm... what about MU, AMD, BYND, SHOP. you’re not paying attention. imho, robinhood gets the most out of it. the number if issues this reddit sub has found with RH is mind-boggling

infinite money!

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

#74

Post by geneticswag »

martin_bech wrote: post #66
DennisP wrote: post #63

Earlier quoted context omitted.

So your theory is that they're terrible traders, and your evidence is that they made huge profits on call options?

Nope his theory is that most trading is algos, and you can mess with algos, by doing crazy stuff.

Case and point, just five years ago Redditors figured that out that by upvoting a post of image of a potato titled "Gaming Console. If you upvote this potato it will show up on Google Images when people search for Gaming Console." It even borked their news algorithm - https://i.imgur.com/A0zLPSR.png

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

#75

Post by greenie_beans »

safog wrote: post #23

Come on man, there's no where near enough volume there to move anything but the most low volume of stocks. All they trade in is meme stocks like TSLA, NFLX, MSFT, AAPL etc., and a few 100k on calls here or there won't budge the price in the slightest. On top of that, it's not even a P&D group, people there are just trading against each other, you have both bears and bulls and thetas. There's never been a concerted ef…

Matt Levine has an interesting take in his email newsletter that refutes your claim. Basically, by so many people buying calls, it forces market movers to purchase the underlying stock to cover their call and this perpetuates an upward movement.

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

#76

Post by tylerhou »

thih9 wrote: post #6

> You're in private mode. Subscribe to continue reading in private mode. I didn't realise that Bloomberg blocks private mode too. Messages like this assume that tracking is the default and make sure that we keep losing privacy. I really dislike this trend.

They detect your private mode using JavaScript; you can bypass by pausing script execution with the developer console immediately after the article loads.

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

#77

Post by doingmyting »

6gvONxR4sf7o wrote: post #39
safog wrote: post #23

Come on man, there's no where near enough volume there to move anything but the most low volume of stocks. All they trade in is meme stocks like TSLA, NFLX, MSFT, AAPL etc., and a few 100k on calls here or there won't budge the price in the slightest. On top of that, it's not even a P&D group, people there are just trading against each other, you have both bears and bulls and thetas. There's never been a concerted ef…

FYI for anyone else who didn't know what "bears and bulls and thetas" means (skip the top answer, or better yet come back to it after reading later ones): https://www.reddit.com/r/wallstreetbets/comments/ef0xhj/eli5...

Easier just to spell it out right here. Bear gang wants the market to die, Bull gang wants the market to moon (go up) and theta gang wants the market to not move at all.

P.S: Stonks only go up! ... I mean down (as of late).

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

#78

Post by alexpotato »

bdcravens wrote: post #71
alexpotato wrote: post #35

Back in the early 2000's I worked for a company that was was hired (via intermediary law firms) by publicly listed companies to investigate pump and dump schemes on Yahoo message boards (you might call that the "Reddit of the early 2000's"). It involved a lot of web scraping Yahoo with Perl (specifically LWP) and then lots of analysis by humans with some help from automated tools. For example, if you plotted a histog…

> Coupled with Lexis Nexis (which was just coming online at the time) Lexis Nexis has been around a lot longer than that. By "online" do you mean web accessible?

Correct, web accessible is what I was referring to.

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

#79

Post by pnako »

AnotherGoodName wrote: post #29
safog wrote: post #23

Come on man, there's no where near enough volume there to move anything but the most low volume of stocks. All they trade in is meme stocks like TSLA, NFLX, MSFT, AAPL etc., and a few 100k on calls here or there won't budge the price in the slightest. On top of that, it's not even a P&D group, people there are just trading against each other, you have both bears and bulls and thetas. There's never been a concerted ef…

I have a theory that WSB are so bad at trading that they actually do manipulate stocks due to messing up every automated trading platform that assumes there'd be some logic to the trades being made. Someone's just bought a $1000 call option on a stock that's currently $400? Automated trading systems will probably raise alerts on that stock since someone must know something for that to happen. This appeared to happen…

A lot of automated trading is arbitrage and market making, where such a trade would not really be an issue.

Regardless, option trading tends to have human traders behind the wheel, and they're trained to figure out what's going on (trading options is similar to playing poker).

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