Roaring Kitty

[syswizard]

I dunno which side of this saga you are on.

The side of truth, honesty, and regard for the law.

Wickr is an anonymous messaging app that doesn't link to one's real ID by email or cell, doesn't store IP's, messages are encrypted and there is no way of knowing who one is communicating with.

I know that....my own investment club was using it.

Afaik, unless there is a recent development, RK didn't charge for a service nor took profits, so how exactly did he perform a criminal act?

From what I understand, he went from $50k to $40+M within a few weeks.

If there is anything criminal in the story it's having short positions greater than the supply of stock and halting the buy side of the trade.

Nah....laisse faire....the shorts know the risks. Let them get burnt, and then they'll stop shorting.

So one would look at this chart and say "prove it". Of course I could back-calculate realized gamma here based on the option prices, underlying prices, theta ,vega, etc.
But why would I spend all of that time ? I guess I could hire a fintech quant consultant to do that at the rate of $500 per hour.
Look at the time the Bernie Madoff investigation took:
https://www.npr.org/templates/story/story.php?storyId=124208012
Note who was worthless in all of this: our beloved SEC.

 

[Pekelo]

..and the most popular Reddit guy award goes to:

https://www.reddit.com/r/path%3D%252Fr%252Fwallstreetbets%252Fcomments%252Flyqziv%252F

 

[Pekelo]

From what I understand, he went from $50k to $40+M within a few weeks.

Nope. I already explained it to you, it took 6 months. He bought the calls in the summer and GME reached the top in January.

For extra fun, after his testimony he doubled down (because he likes the stock, you know) and now having 100K GME stocks. Made a nice extra 7 MM or so, and still holding.

 

[syswizard]

Nope. I already explained it to you, it took 6 months. He bought the calls in the summer and GME reached the top in January.
For extra fun, after his testimony he doubled down (because he likes the stock, you know) and now having 100K GME stocks. MaPek - de a nice extra 7 MM or so, and still holding.

Pek - I don't dispute you on this, but I have to ask how you got this information ?
Sounds like you are in direct contact with Keith.
For me, I don't quite believe he made these trades strictly based on fundamentals.....frankly, I don't "see it" for GME.

 

[Pekelo]

Pek - I don't dispute you on this, but I have to ask how you got this information ?

Good old fashioned internet sleuthing. His first video is from Aug 21st. This is just proof that he was bullish on the stock at least by then. If you reference his calls' original price (what we know from his posts) with the stock historical price you can figure out when he had to buy them, because later on they were way more expensive. We did it with Van Zandt here. I forgot the exact dates, but it was late July-early Aug I think.

I think he probably mentioned it in reddit posts too, I don't really remember and too lazy to read them.

The point is, he didn't just lie about the stock in January, there are YT videos to back up his interest and bullishness in the stock.

 

[syswizard]

The point is, he didn't just lie about the stock in January, there are YT videos to back up his interest and bullishness in the stock.

I understand that.....but it doesn't explain the "gamma explosion" that occurred with GME prices going 10x in a matter of hours. That is in no way related to fundamentals. That was an orchestrated and coordinated effort.
Keith has been avoiding any comment on that.....for good reason....collusion.

 

[Pekelo]

but it doesn't explain the "gamma explosion" that occurred with GME prices going 10x in a matter of hours.

Sure, HFs were battling it out among themselves, with a few million reddit/robinhood enthusiasts thrown into the picture. That is what happened. Kitty's position was well established by then.

Speaking of his position, the update

https://www.reddit.com/r/path%3D%252Fr%252Fwallstreetbets%252Fcomments%252Fm0q5bm%252F

"Congress DARED him to buy at 40.

That’s the best part... “would you buy it at $40 a share?” “Yes, yes I would."

 

[Butterfly]

Roaring Kitty is raving mad LOL

 

[ElCubano]

Sure, HFs were battling it out among themselves, with a few million reddit/robinhood enthusiasts thrown into the picture. That is what happened. Kitty's position was well established by then.

Speaking of his position, the update

https://www.reddit.com/r/path%3D%252Fr%252Fwallstreetbets%252Fcomments%252Fm0q5bm%252F

"Congress DARED him to buy at 40.

That’s the best part... “would you buy it at $40 a share?” “Yes, yes I would."

Who does this? Who has the mandingos to hold into the stratosphere not sell and then buy more at 40. This guy deserve to be a mega millionaire dude. The hardest part of trading is exactly what this cat has done. HOLD!!!

"Please sleep with my wife" hahahah hahahah

 

[Pekelo]

Who does this? Who has the mandingos to hold into the stratosphere not sell and then buy more at 40.

Exactly. There are 2 explanations for this:

1. He already made 13+ MM and comfortable with holding the rest and even losing it.
(Now doubling down is another question but he "only" risked 2 MM on that.)

2. People like him trust themselves that since this happened once and they were right, they are able to repeat it more times. Now only the future will tell us if it is a valid belief or not, but that is their approach/thinking. And the last time he had just 50-100K or so, now he has 10 MM to play with.