More Options Degeneracy, but this time, it’s not from the Retail Crowd. It’s from the Brokers being retardedly degenerate.
Here’s a Forbes article;
Some Users are reporting that they can’t take gains on their put options that they bought on SBNY (Signature Bank) and SIVB (Silicon Valley Bank) before the banking collapse.
Maybe it’s another ‘GLITCH’, just like when Brokers removed the Buy button on GME in 2021 but forgot to glitch out the Sell button too. Yea, totally not a fraudulent market.
Not allowing a user to trade their options? That doesn’t sound like a good market to me.
It’s not Just Robbing Hood, it’s also Fidelity;
How do we hedge our bets-
When the Brokerages start fucking with your money? Do we just open accounts in various brokerages with the off chance that a Brokerage won’t honor shit?
Sounds like a Ponzi scheme. You can buy a ticket in, but you can’t redeem it for money or value if you actually win? A total sham. What is this, A Broker-type bank run? Are there Liquidity issues?
Yet there seems to be no liquidity? Why else aren’t they honoring options contracts?
It’s not like these brokerages took the other side of the trade and lost big. . . Unless that’s what they did. . . Then that would imply that they have liquidity issues.
Options Contracts are not being honored. . . It’s like we’re in a completely fraudulent market.
Don’t mind for the fact that the Derivatives market is like Trillions to maybe Quadrillions of dollars.
Quadrillions of dollars yet the question comes up;
Where the fuck is the Money?
Here’s what it sounds like,
“Hey, let’s make a bet. If the price goes down, you win money.” -Brokers
*Price goes down*
“Hey, about that bet. I’m no longer going to honor it. Let’s let bygones be bygones, Water under the bridge.” – Brokers
That’s also implying that the Brokers were the other ones on that side of the trade. I mean, if the loser on the other side doesn’t have the money to pony up, then it’s the fault of the Brokers and then the Clearinghouse. Sounds like Brokers are snorting their own supply and finding themselves naked.
So, I’ll write it big for you,
Time and Time again. If you have to do business with them, do so knowing that they’re going to weasel the fuck out of you. It’s like trusting a Huckster, do so at your own risk.
With PFOF, they literally profit off of ‘clients’ and ‘investors’ to sell trade data to people who will skim your trades. You trust the guy that’s selling you as a product?
*Not Valid Financial, Legal, Life, or Any Advice