dest's discord group--tickers, structuring and pnl

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destriero said:
F*cked up at the end of the day; combination of a fat finger error on a 1K lot in vol and another in futures. Also shorted spooz at 3421.
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No, that was all closed EOD. I gave back a third of my earlier gains.

I am down $150K or so on marks. Was down $220K earlier in the day. We've been discussing the chunkiness of the MTM and how it's being gamed. I went out yesterday with a MTM on my GOOGL position that was a solid 2 handles under a realistic vol mark and is now 3-4 over. So the mkt is buying var (wings) and the sell side is marking it down at the close. I've never seen anything like it in an orderly market.

I remember when I was a kid and Saliba was covering short flies and a guy was yelling to him to make a market in a fly, and his response was, "all 100-wide flies are $5 bid!"

It feels like that but the mkt isn't moving.
 
vanzandt said:
Wait for $87
Look at this thing...


View attachment 237951
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Well it creep'd right up to $87 yesterday.
$83.80 now.
Lets see what happens from here.
Lots of chatter on other venues about the whole PlayStation thing.

One could say (as a contrarian) there's too much hype, too crowed of a trade.
Could be wrong though, everyone loves it.
That said, there's rarely anything new in this game.
So it's not over yet, it'll probably climb back up. Put a 7% target on the upside. 90ish. Then bail.
Watch that $82.50 level though. If that falls on the wrong day... its heading back to the mid to low $70's.
 
destriero said:
No, that was all closed EOD. I gave back a third of my earlier gains.

I am down $150K or so on marks. Was down $220K earlier in the day. We've been discussing the chunkiness of the MTM and how it's being gamed. I went out yesterday with a MTM on my GOOGL position that was a solid 2 handles under a realistic vol mark and is now 3-4 over. So the mkt is buying var (wings) and the sell side is marking it down at the close. I've never seen anything like it in an orderly market.

I remember when I was a kid and Saliba was covering short flies and a guy was yelling to him to make a market in a fly, and his response was, "all 100-wide flies are $5 bid!"

It feels like that but the mkt isn't moving.
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Hey speaking of Saliba, do you know how to get a hold of his book Managing Expectations? I’ve searched for it on and off all summer and not having any real luck. Ty.
 
Not that book, but 2 Tony Saliba books
Go to https://libgen.lc/
Search "Anthony Saliba"
Download by following links to the right

upload_2020-8-28_14-5-40.png
 
@destriero I remember you said you were mentored by Saliba when you were younger. That’s cool and all... I mean he’ll do if you need a mentor in a pinch... but he’s no Jeff Bishop. He’s no Kyle Dennis. He’s no Tai Lopez.
 
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