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Trimmed some SPY 388 buys here at 409. Took a small few contracts of QQQ 318P next week expiry here at close. Just looking for a pullback scalp. Fun money.

Banking crisis over, right? Morgan Stanley downgrades Schwab (SCHW) yesterday and mentions its vulnerable to bank runs, forced to sell securities at a loss. Chart looks like a red waterfall the last 2 days.

SIVBQ is also up 400% from yesterday's lows. Heh *edit* Christ, its ripped another 30% in the ~40min since posting.

And now its a penny stock in the 50c range.

SIVB shares converted to SIVBQ on the OTC market this morning. Those SIVB shares were trading at $39.5 when the news halt hit, now showing in the <$2 range this morning. Ouch. That's called headline risk while trying to scalp trade a bank that is swirling the bankruptcy drain. All in an instant...

10:58 [BINANCE] (US) Sued by CFTC over regulatory violations, CEO Changpeng Zhao named as defendant *edit* 7 Count indictment includes charges of: - Dealing with off-exchange commodity futures, - offering, entering into, confirming the execution of, or transacting in off-exchange...

Today's "max pain" $SPY price for options? You guessed it, right here at 395.

For historical reference, the big market drops of 2000 / 2008 (and likely before it) came AFTER the rate cuts from the Fed. Less than a year into the dot-com bubble bursting, on Jan. 3, 2001, the Fed began an easing cycle that would see the federal funds rate move from 6.5% to 1.75% in about...

That 385 SPY level would be massively contested, as it’s basically the line in the sand for the bull case. Even IF we got there, it won’t go without a fight or some new macro news drama. *edit* kid is alright. Sliced his hand open, and since he’s 3, they have to sedate to suture and then the...

Been in the emergency department with my kid most of the afternoon. Any news on the pump and dump, or markets still fighting for direction in a wide range? SPY needs to close below 385 before we risk any real selling.

Technical analysis example. A very clear macro trend line that bounced support for SQ nearly exactly to the penny this morning.

So, Cathie was on a SQ buying spree recently. Between that and COIN getting smoked overnight (SEC after them), she's seeing a lot of red this morning.

25bp Unanimous decision

Theory is, if they went to a flat pause, you're also admitting things are broken. I'd expect a sell on that news.

25bp

This isn’t suspect at all:

NVDA currently live in their keynote (that news above). From recent price action, I fully expect a "sell the news" type event. https://www.nvidia.com/gtc/keynote/

Cross posting from investing thread: 10:00*(US) FEB EXISTING HOME SALES: 4.58M V 4.20ME; Y/Y median price turned negative for first time in 131 months

10:00*(US) FEB EXISTING HOME SALES: 4.58M V 4.20ME; Y/Y median price turned negative for first time in 131 months

09:56 PTON Moves up on bullish comments from Jim Cramer - CNBC - I guess this means Peloton is about to go banrupt.

Ladies and Gentlemen, your next macro news bomb: (The Last of Us: real life version) 09:34(US) CDC publishes research leading to classifying Candida auris an "urgent threat" The CDC has called Candida auris an "urgent threat" because it is often multidrug-resistant, easily spreads through...

My take on it is that history shows, these bank issues rarely just end with the first few names in the news. There will be others likely affected that bubble to the surface. The big takeaway on regional banks is that due to the current mess, you can bet your ass regulations will come hard and...

11:58 FRC Reportedly talks center on industry-led effort to boost capital and include converting $30B in deposits into capital infusion - WSJ On the back of this news, FRC has halted down 4 times. Who honestly thought the banking mess was over with?

wrong thread

If you cant make reliable money trading straight equities, the last thing you need to be doing is playing with options strategies. Complete understanding of the underlying is critical before adding half a dozen other complex variables on top of that.

Someone heard Cramer loud and clear (QQQ puts):

No sir. Took that profit some time ago.

In unrelated news, water is wet.

Giant green dildo candles everywhere on news: 10:50 $FRC JP Morgan, Morgan Stanley and others said to be in talks to bolster First Republic - WSJ

In fairness, AMD also up a lot.

Still behind the curve, but kudos for having the balls to keep on track following the Credit Suisse drama.

All of those regional banks taking a shit again this morning. FRC, WAL, PACW, WAL

Swiss regulator FNMA likely to make Credit Suisse statement today or tomorrow; options include statement of support, backstop, Swiss spin-off, or UBS tie-up - Source TradeTheNews.com

Things on the bounce following: 13:05 CS: Reportedly Swiss govt is under pressure from at least one major govt to intervene in Credit Suisse - press

iirc, the Saudis already have a 9.8% or so stake. They cited that if their ownership exceeds 10%, a bunch of regulatory rules kick in and they don't want any of that. (Could be a convenient excuse as well, but its certainly plausible from a risk standpoint) *edit* just read the same in the...

And, down we go again. Credit Suisse in the spotlight again. (This bank has been mired in issues for some time). https://www.bloomberg.com/news/articles/2023-03-15/credit-suisse-is-fueling-a-broader-rout-in-european-bank-stocks?srnd=premium&sref=9HT8lz40

SIVB DOJ and SEC said to have formally opened investigations into executive trading, company disclosures - press

HSBC bought the UK arm of SVB only. The acquisition – which cost HSBC £1 – followed overnight talks between Downing Street, the Bank of England and HSBC bosses including the chief executive, Noel Quinn, as authorities rushed to protect the finances of SVB UK’s 3,500 customers. Those customers...

Notice JPM there, didn't shave off 10% to gain 9.5% back like USB. I called out my JPM long ($129s) on Friday as the price remained solid while everyone else fell.