@clevers are you sure it’s just 5% annually? The hard to borrow annual interest rate is a variable one. Currently, it’s at 7.5%. I’ve 5%, but i’ve seen it up to 13 or 14%. I suppose it changes based on supply&demand.

What’s your opinion on crooked Andrew Left? Media gives him spotlight to basically fill his pockets with money. I don’t disagree with his prediction, but how can we allow Citron to have so much influence?

Gordon Chang made the comment that China is the weak hand in this situation.

It’s like when you owe the bank $10000 you are in trouble but when you owe them $100M they are in trouble.

The other thing, I think anything that jacks up the price of softs like soybeans does not bode well for Chinese social stability.

Weak position.

I could just listen to Seth talk about vol all day.

>> it would have gone up over 500%

Shoulda coulda woulda

It’s quite certain, though, that VXX ATM call options would have done more than 500%.

>they simply used my structure

Andrew at Option Pit says that they have to send takedown notices to Ebay every week because people steal their courses and sell on Ebay.

Heh.

The market in action.

Wasn’t there some FB brouhaha last fall about the Russian bogeyman. Zuck was going to have to hire a ton of ad checkers and that was going to impact profits, etc.?

Then after a couple news cycles everybody forgot about that.

Just like they will forget about this kerfuffle and the next one too.

I tried to find the quote in the Michael Lewis book “The New New Thing”, but couldn’t.

Something along the lines of “If somebody tried to mention PE in the room it was like they farted.”

That’s almost the situation with NFLX and AMZN.

The market is supported by FANG stocks. Two of the four megacap names have astronomical PE ratios.

So how is PE even relevant?

It seems that all the products in the space are being affected by the Feb. Crash.

Except VXX.

As for options, VXX has the best liquidity.

Bill Valentine made two remarks in the most recent Vol Views about UVXY.

1) OTM UVXY puts are the safe way to play short vol.

2) In a crisis like we had in early Feb., OTM UVXY calls are the
most efficient…[Read more]

Don’t make much difference. Before, UVXY was a tracking the SPY at 5x, now it will be a mere 3X.

I don’t think this will help its liquidity though.

Dayam is all I can say. And to think I was planning on maybe putting on a position on Tuesday!