Pinned Tweet
The name of a killed service member covered up by a Dow Jones index ticker is a pretty grim metaphor for how America often operates.
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Starting to think running net short equities is a fruitless endeavor not worth the effort:
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Covering a bunch of (not complete shirt) shorts today and getting less net short so that I don’t feel like a grinch into generally bullish seasonals ahead…
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The fact that Warren Buffett didn’t throw a tiny $100 million to @HuskerFootball NIL money for 25 five star recruits is a betrayal to his state. Joking around here (not really), but he seriously could have bought the state a few NCAA championships for a drop in his bucket. Instead, most Nebraskans will forget of him soon after he dies. Tom Osborne or Tommie Frazier won’t be forgotten, the state cares about one thing
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Frothy Assets retweeted
Rep. Laura Gillen’s (D-NY) first post after the Democratic sweep Tuesday night isn’t about affordability - it’s about extending Temporary Protected Status (TPS) for Haitians with the new Democratic majority in Congress.
The fight to protect our Haitian neighbors and pass my bill extending TPS for Haiti will gain even more momentum with a Democratic majority in Congress.
I’ve stood by our Haitian community and now look forward to working with my new colleagues to get this done.
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Frothy Assets retweeted
Retail net selling in the first 90 minutes was the second largest on record, only behind February 27, 2020.
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Frothy Assets retweeted
I can’t shake the feeling that selling your high-beta tech stocks already down 40-70%, to buy low/no growth consumer names at 30-100x earnings…might not be so smart, either.
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Men 18-29 lmaooo. What isn’t shown is the hoards of conservatives who didn’t even bother to vote.
Trump ruined his legacy. Turns out there are downsides to making self-enrichment a priority + pumping up asset prices at the expense of affordability…
Trump ruined his legacy. Turns out there are downsides to making self-enrichment a priority + pumping up asset prices at the expense of affordability…
The swings tonight among groups that swung right in 2024.
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Bragging about asset prices going up a day after he blows his party up in the midterms. It’d be funny if it wasn’t sad.
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Frothy Assets retweeted
$SPY Getting confirmation entire Walleye L/S unit gone as of 9am. $17Bn levered an estimated 5x, so close to $90bn liquidated.
I would imagine there may be some margin calls and knock on effects of this as well, given correlations across many of these levered funds.
I would imagine there may be some margin calls and knock on effects of this as well, given correlations across many of these levered funds.
Rumors a large MM, possibly Walleye, is liquidating. Anyone have details there?
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Frothy Assets retweeted
The levered ETF complex would sell an est. $42B into the close
Semis index: −$19.1B (SOXL −$10.6B, SOXS −$8.0B)
Nasdaq-100: −$13.2B (TQQQ −$10.5B)
S&P 500: −$3.7B
Single-stock semis: −$2.4B
Tech: −$2.1B
Other single-stock: −$1.9B
Today SOXX is -10.6%, NDX is -5.3%, SPX is -3.4% NVDA's share ~$4.4B, ~20% of its 20-day ADV.
Semis index: −$19.1B (SOXL −$10.6B, SOXS −$8.0B)
Nasdaq-100: −$13.2B (TQQQ −$10.5B)
S&P 500: −$3.7B
Single-stock semis: −$2.4B
Tech: −$2.1B
Other single-stock: −$1.9B
Today SOXX is -10.6%, NDX is -5.3%, SPX is -3.4% NVDA's share ~$4.4B, ~20% of its 20-day ADV.
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Not a great day for these, looks to be some dislocations also. Hard to find borrows + quite illiquid of course
It will be very funny explaining this bubble in a decade. “So yeah these ETFs wrote OTM puts and put spreads on single stock 2x long ETFs, and gave those collected premiums as yield. Called it yield boosting.”
At least AUM is low/not many buying this silliness.
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Underwater on written puts
graniteshares.com/media/qozijekh…
graniteshares.com/media/zrxbkknj…
I don’t get this one, pretty much all cash. I don’t see any news on delisting.
graniteshares.com/media/cojn0cac…
It looks like the fund managers are able to have discretion, cash vs puts not uniform across all of them.
graniteshares.com/media/qozijekh…
graniteshares.com/media/zrxbkknj…
I don’t get this one, pretty much all cash. I don’t see any news on delisting.
graniteshares.com/media/cojn0cac…
It looks like the fund managers are able to have discretion, cash vs puts not uniform across all of them.
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Capped upside on these shorts, less squeeze risk.
Looks like for all they just risk a few percent of NAV every week or two on put debit spreads. Return no capital via distribution when the spreads finish ITM and return some “yield” when they finish OTM. Kinda funny/lame, no huge blowup risk from what I see.
Looks like for all they just risk a few percent of NAV every week or two on put debit spreads. Return no capital via distribution when the spreads finish ITM and return some “yield” when they finish OTM. Kinda funny/lame, no huge blowup risk from what I see.
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$SPX is about 1.5% from ATHs and VIX is sitting in the 17s.
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I am surprised to see odds haven’t budged much despite financial conditions becoming far tighter so far today…
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bought slight OTM Jan 27 SVIX calls. Surprisingly cheap but very illiquid. Seems like the best way to play a vol crush/VIX cool down.
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from: “no more data centers, AI will not replace my job!”
to: “oh shit, if we get a recession I could lose my job.”
to: “oh shit, if we get a recession I could lose my job.”
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I went long some AppLovin after strong earnings. High beta/momentum has been killed lately, nice way to play a bounce there. Not an AI loser, strong growth at a low valuation, but nobody (myself included) wanted to touch the name pre-earnings because the chart looked disgusting. Seems like many will come back in and chart/momentum could turn. Asymmetric situation (it seems like anyway).
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