Posted on 02/19/2021 2:44:32 PM PST by Navy Patriot
223,000 March $20 puts were bought for 2.5c
So they bought them for 2.5. So you con the reditt herd into buying them and they trade up to a 5 for a quick 100% profit. Sometimes it is not really some BS exotic play.
Just another pump and dump on to the stupid.
Thanks for the link.
Yeah, that’s damn strange.
See above.
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Katie Greifeld
@kgreifeld
·
Feb 10
a March 19 $TSLA put with a $20 strike is the most actively traded option today
13 KB
Ken
@Kenaschmidt
Replying to
@kgreifeld
This has happened before, with some strange regularity. I noticed it several months ago. Same strike, monthlies, block trade, liquidity out of nowhere
Quote Tweet
Ken
@Kenaschmidt
· Nov 18, 2020
Somebody opened over *100k* Dec 18 $20 puts on $TSLA the morning S&P inclusion was announced. I’m not an expert, but I have to believe these two events are related. Trades went through at .02 so about $200k premium. Nobody cares, as usual @SEC_Enforcement @HesterPeirce
So with millions of traders in the GME/robinhood thing, if you con just a few hundred thousand to take a spin, spending $5, that liquidates the entire 235K and would run the price up from 2.5 to 5 cents. Boom, done.
Except apparently it has been happening a few times
https://twitter.com/Kenaschmidt/status/1329104904812711938
Something is off about it. It could be money laundering.And how does it suddenly go off as one transaction?
Buy 100K @ .02 for $200K. Have the herd suckers buy and run the price to .03. That a nice $100K profit in days.
They bought in one block, which would make sense for the base position. Meaningful info would be the time and sales after that point. Were there lots of small trades later?
you have to have sellers. this had to be prearranged.
Ken
@Kenaschmidt
·
Nov 20, 2020
For reference again, the Nov 20 20p contracts have had no bids on any given day, with offers of about 800 contracts at 0.01. On 10/22, I doubt there were any bids either, and *90,000* traded at 0.03 $TSLA. Not a chance in hell this was a hedge.
Ken
@Kenaschmidt
·
Nov 20, 2020
Replying to
@Kenaschmidt
Here is the T&S for the Nov trade; interestingly enough, there are similar odd lot trades on Emerald, AMEX, Nasdaq, and BATS just prior to each large trade. Remember these are far, far OTM puts that typically have no bids at any given time, then all this activity appears $TSLA
https://twitter.com/Kenaschmidt/status/1329119130704896001
Ken
@Kenaschmidt
·
Nov 20, 2020
Alternate conspiracy theory: It’s been suggested that
@elonmusk
is using an offshore entity to execute manipulative options trades IOT cause massive moves in $TSLA ... What’s the price of a complicit executing broker? A couple $100k a month paid through innocuous OTM contracts?
Let’s say you wanted to buy an anormous number of deep out of the money puts like that. Of course there is no open interest at that volume. You have to get a market maker or a large trader/institutional firm to sell naked puts, which you buy. They then come into existence and appear.
Farris BABA
@farrisbaba
·
Feb 11
I watched the tape all day yesterday, as many know I love reading the tape. Yesterday’s down move was a flash crash as bids were jumping well below the ask. Regular candle sticks won’t show it either.
Tax Paying American Flag of United States
@gjgala
Replying to
@WalterFRSA
and
@farrisbaba
Would be interesting to see if this coincided with the large (200,000 3/19 $20 PUT TSLA) activity yesterday.
Tax Paying American Flag of United States
@gjgala
·
Feb 11
Replying to
@gjgala
@WalterFRSA
and
@farrisbaba
Hedge funds testing gamma / crash capability?
Buying options that expire worthless is a really poor way to launder money.
https://twitter.com/WalterFRSA/status/1359867898395820041/photo/1
Walter
@WalterFRSA
·
Feb 11
Here: https://tradingview.com/x/9hcQ3jex/? Well spotted - endogenous crash.
All day long there are large institutional traders who will sell those puts. Their risk is virtually nill. Its like a huge insurance company selling tropical storm policies to 50k households in Kansas :) They will gladly pocket the cheap premiums for policies that will never get hit.
moving money from one account to another
something is really off about this repeated buying of puts...
as one tweeter pointed out...there was a flash crash on the 10th
What’s weird with buying $200k of puts and selling them a week later for $300K?
A con like this works because each redit kiddie says “What the hell, it’s only $5.”
I dont believe the primary reason is to get people to buy the $20 strike
I believe the reason is something else.
It’s possible the $20 strike gambit is to get the stock to move to pay out a much bigger bet when the stock moves.
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