It would be interesting to know WHAT motivated their decision (collectively) to do so 24 hours before it collasped!
Susquehanna International Group, LLP
Virtu Financial LLC
Oxford Asset Management
Institute For Wealth Management, LLC.
Jane Street Holding, LLC
Flow Traders US LLC
MILLENNIUM MANAGEMENT LLC
HighTower Advisors, LLC
Windward Capital Management Co/CA
Bascom Hill Partners LLC
Valued Advisers Tr-Longview Global Allocation Fd
You're correct but they knew yesterday that CS was going to issues more shares otherwise you wouldn't have had the violent swing down in one day ! CS did this because they had a hard time hedging and they run models and knew exactly what would happen. They would washout a lot of people . But they told there friends about it earlier in the week. it will come out just like Corzine news today that he authorized 200 million to be taken from a client account.
Hi son, it's down more than 12% in one day. You don't have to be good to cash in on that and you don't need to trade it so fast to catch big money.
You must be typing with one hand, cause the other's so busy patting yourself on the back.
So the companies were short one day before the inevitable collapse. But were those positions taken previously? Every day since the suspension that the premium rose (price was supported by speculative buying despite collapse in volitility and thus value) it only became increasingly obvious that is was effectively free money for the taking.
The decision to resume issuance could have been influenced by some combination of being thirty days since suspension, a day after expiration, and that there was a spike in volitility to potentially minimize the effect. Word may have gotten out before the end of the day and/or longs realized their untenable position as the premium had risen nearly every day for thirty days to near 100%.
Even amateurs here have been warning but apparently to some it was indistinguishable from the usual noise.
On March 21, midday I posted:
"...the premium has gone beyond absurd to 85%. How is shorting that not free money upon either resuming issues or terminating/liquidating?" [syntax corrected]
Oh gee...has it gone "straight" down, sport?
Guess that means it's at ZERO then.
I've traded this thing 17 times today.
I guess it didn't go straight down.
Like I said....get an education.
Try getting something beyond an elementary school education, sport.
Then perhaps you'd be able to read and comprehend.
If you'd been paying attention, you'd know my positions on UVXY.
My condolences on that AAPL short.
How much did you lose?