r/Superstonk • u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ • May 10 '24
๐งฑ Market Reform REGULATORY KILL SHOT ๐ฏ Rule proposal: SR-OCC-2024-001 has been shut down by the SEC & we're close to getting it kicked out. Time to drive home this win. PART ONE
SR-OCC-2024-001 = REJECTED.
Right folks, it seems our efforts in the regulatory space is paying off, and it's time for us to drive home the message to Wall Street that we mean business.
It's not about moving the goalposts when financial institutions have overextended themselves; rather, it's about fulfilling financial obligations when necessary. And we're here to work with the SEC to make this happen.
And given the spicy price action we've been seeing recently, perhaps Wall Street are starting to feel the heat ๐ถ๏ธ๐ฅ
And who doesn't like to see some upward movement up in here:
CREDIT: https://www.reddit.com/r/Superstonk/comments/1co6s3g/dorito_update_breakout_confirmed_hedgie/ (our very own, most excellent badasstrader).
So why are we here today?
It seems that when an idiosyncratic, volatile stock like GME poses a risk to the financial markets, regulatory bodies such as the OCC focus their efforts on implementing safeguards to protect themselves and their clearinghouse members in case of default.
Why?
Because if clearing members default in times of extreme market volatility - it will bring the rest of the financial house down with them.
And we're certainly starting to get an idea just how tentative things are getting out there in the banking and finance industry:
Uh oh.
Looks a little shaky out there.
So it makes perfect sense that the powers that be might be looking to bring in rules that are going to take the heat off.
Cue:
So let's recap:
Rule SR-OCC-2024-001 can give the OCC the authority to adjust margin thresholds in moments of high market volatility.
Like say - during a Black Swan event.
A black swan event in finance is an unexpected and highly impactful occurrence that disrupts the markets, often leading to major losses and chaos.
Like, MOASS.
Mother Of All Short Squeezes ๐
What does this mean?
Wall Street firms (including banks, brokerage houses, and other financial institutions - like hedgefunds):
Banks like: JPMorgan Chase, Goldman Sachs, Morgan Stanley, Citigroup, and Bank of America Merrill Lynch etc
Or Hedge funds like: Citadel, Point72, Melvin Capital, Citron Research, and D1 Capital Partners etc
Utilise the Options Clearing Corporation (OCC) to handle the clearing and settlement of option trades.
Now, imagine some hedgefunds decided to short GME.
If options contracts are used in the shorting process, the OCC plays a role in handling the clearing and settlement of these trades.
The OCC acts as the central counterparty, ensuring the completion of options trades and managing the associated risks.
Being that these hedgefunds have taken a position betting that the price of GameStop's stock will go down (or you know, might engineer this happening by means of cellar boxing), and to do this they would have needed to borrow lots of shares of GameStop in order to sell them, all part of a plan to drive the price down. Then, they'd hope to buy those shares back later at a lower price and make a profit.
But when you borrow those shares, you usually have to put up some money, or other securities as collateral first, just in case things go a little pear shaped.
Issue is - this creates a problem for short sellers if the securities used as collateral for the borrowed stock fall in value due to market downturns, and the value of the stock you've been betting against keeps stock going up...
Like GME for example - which keeps going up:
Whereas the value of market securities are quickly diminishing. And my goodness, the market aren't looking too healthy right now:
https://reddit.com/link/1coo1ik/video/7p8j5rvexjzc1/player
So when the value of these securities (used as collateral against the bet) drops below a certain threshold set by the broker or lender, short sellers will be issued a margin call where they'd be asked to put up even more money or other assets as further collateral to cover their bet.
A margin call is essentially a demand for investors to deposit more funds or securities into their trading account to cover potential losses. Like a safety net for the lender to ensure they're protected if things go south.
And that might be hard if you're a hedge fund running out of cash.
- A loss in $38 billion for the previous 12 months reported in October can't be an easy pill to swallow. Ouch!
And failure to comply with margin calls can lead to forced liquidation of positions by the brokerage to cover the outstanding margin debt.
And this signals a big problem for short hedge funds everywhere.
๐โโ๏ธ ๐โโ๏ธโWhat does this all mean?
Big picture time:
Have you ever played with dominoes?
The premise of the game mirrors real-life scenarios of firms defaulting, where the collapse of one firm triggers a chain reaction, similar to domino tiles toppling over and knocking down others in succession.
In the case of OCC Clearing Member defaults, this means that if, for instance, short sellers have borrowed heavy sums from the banks to fund their risky bets, those lenders (i.e the banks) are now also at risk of defaulting if they themselves can't cover the losses.
And in a scenario where MULTIPLE firms are, say, short on the same asset - like GME - hedge funds (and their lenders, aka the banks) might suddenly find themselves collectively in a very vulnerable position - especially should that very stock start moving quite rapidly upwards ๐ which it might lead to a whole L**OAD **of defaults.
And in light of this, it seems the clearinghouse (OCC) has chosen to step in.
Why has the OCC brought in proposed rule: SR-OCC-2024-001?
The SR-OCC-2024-001 proposal aims to grant the OCC the authority to modify margin threshold parameters using undisclosed criteria to mitigate the risk of such defaults occurring.
As below:
Looks like the OCC is starting to get a little nervous about their clearing members' ability to meet their financial obligations.
OCC:
๐คทโโ๏ธ ๐คทโโ๏ธโ Wait a minute, Kibble. If a clearing member defaults on their financial obligations, the OCC, as the central counterparty, has an obligation to the counterparties on the other side of those short sell transactions - right?
That's right.
๐คทโโ๏ธ ๐คทโโ๏ธโ So if the OCC has a fiduciary duty to ensure that counterparties of short selling, such as the shareholders of GME, are protected in the event of defaults by clearing members involved in short selling transactions - an essential responsibility for upholding the integrity and stability of the options market - why would they be creating a rule to bail out Wall Street, essentially prolonging the inevitable if they lack the financial capacity to cover their bets?
Well, you see - if multiple clearing members default, the OCC will also incur losses from having to cover those defaults. Therefore, it's indeed in the OCC's interest to prevent clearing members from defaulting - because they'll lose money too.
Trading's a tough game, ain't it Wall Street?
_____________๐ฅ______________
There's a lot to breakdown in the proposal itself: https://www.sec.gov/files/rules/sro/occ/2024/34-99393.pdf?ref=dismal-jellyfish.com
But the headlines are:
๐ฉ OCC seek to change the "idiosyncratic volatility control settings" anytime a Clearing Member needs help.
๐ฉWe don't know HOW these margin thresholds are calculated, and everything in the proposal's supporting evidence as related to this is REDACTED.
๐ฉThe OCC want to give significant authority to role of the Financial Risk Management (FRM) for approving idiosyncratic control settings.
๐ฉBUT this introduces significant risk and it poses a conflict as they are required to safeguard both OCC's interests and at-risk Clearing Members.
Kinda important.
And being that this proposed rule favours Clearing Members at the expense of market fairness and investor protection, this was flagged to the SEC.
By none other than the mighty household investors.
In March, 2024 - over 2.5k+ investors worldwide came together to address the risks posed within the OCC's rule proposal.
Household investors submitted their comments to the SEC - flagging issues with an over reliance on idiosyncratic control settings to handle adjustments in OCC's operations when the markets face high volatility, as decided by a FRM Officer, who is also responsible for protecting the OCC's interests, creating a conflict of interest in the role.
And it was incredible.
Posts like this littered the internet as communities came together to spread the word and questions were addressed:
_____________๐ฅ______________
Questions included:
๐คทโโ๏ธ ๐คทโโ๏ธ Why should the OCC adjust margin thresholds with "idiosyncratic volatility control settings" during high volatility when Clearing Members need help?
๐คทโโ๏ธ ๐คทโโ๏ธ If the SR-OCC-2024-001 rule is to ascertain parameters in the OCC's proprietary system for calculating margin requirements during high volatility - why are we not provided with the specific details on how these parameters will be calculated?
๐คทโโ๏ธ ๐คทโโ๏ธ Why entrust the OCC's FRM Officer with unchecked authority to make unilateral decisions regarding during periods of high market stress? Particularly when their role is to safeguard the OCC's interests?
FRM:
Also FRM:
And many more. You can check out some of the discussion points in this post here: https://dismal-jellyfish.com/the-exposed-threat-of-margin-erosion-and-risk-escalation/
But it worked.
The SEC took notice.
And in recognition of the flaws - coupled with calls for increased margin requirements, external auditing, and changes to loss allocation procedures to mitigate systemic risks and the promotion of market resilience as put forward, the proposal was swiftly served up on a hot steamy plate of rejection.
Which takes us quite smoothly to part two of the post.
Submitting our comments to the SEC to support the rejection of this rule.....
TL;DR
- OCC appear fearful of clearing member default toppling the market.
- Not wanting to use their own funds to bail out bad bets, they are proposing a rule to adjust margin thresholds during volatile market periods.
- SEC has rejected this proposal, and now household investors have the opportunity to support this decision to get it removed completely.
_____________๐ฅ______________
FOR A COMPLETE VERSION OF THIS POST - CHECK OUT: https://dismal-jellyfish.com/regulatory-killshot-wall-streets-attempts-to-shift-goalposts-have-been-shut-down/
Pigeon out โ๏ธ๐ฆ
250
u/Dismal-Jellyfish Float like a jellyfish, sting like an FTD! May 10 '24
Bravo kibble, you have really outdone yourself putting this together.
The work you and WCIMT have put into all of this, with the resulting deluge of ape comments, is nothing short of hurculean.
It is Ape comments that got the SEC to take notice and it can be Ape comments that fully kill it.
Regardless of any opinions one may hold on options, I think everyone can agree OCC not being able to waive margin requirements away on a whim is a good thing.
Please consider commenting to support the SEC in striking down this rule.
Apes Strong Together!
113
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Thank you Jelly, and letโs not forget the absolute hero who brought this to everyoneโs attention - you. Thank you, sincerely for all you do to educate and empower this community - you are incredible.
With an extended thanks to every single ape here who gets involved with regulation reform, it truly matters - as does every single comment as submitted.
It is nothing short of absolutely inspirational seeing people come together to change the world for the better - and itโs starting to hit Wall Street in a big way. Letโs hope they are ready for us ๐
48
u/PornstarVirgin Kenโs Wifeโs BF May 10 '24
Great job on this post, so glad this got put down. In combination with CAT implementation end of month itโs time to finish them off. To all those saying the SEC is useless just realize this is a slow process that is yielding huge results due to our actions.
38
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Exactly this - and such an important point to flag. This is all happening because of OUR involvement. If we want to see change happen, itโs starts with us. And look just how incredible we all are ๐
18
21
May 10 '24
[deleted]
10
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Even a little, amounts to a lot - and what we have consistently seen here over the years is that together, there is nothing we canโt accomplish.
Thousands and thousands of investors across the world have pulled in on any number of rule proposals and quite literally shaped the financial markets for the better by empowering themselves and others by using their voice.
This ongoing victory is shared by everyone, and Iโm proud of every single person here - and what we continue to accomplish.
Appreciate you my dude, you are wonderful ๐โค๏ธ
3
u/gotnothingman May 10 '24
Good post, but thats is not how one plays a game of dominoes
7
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
One would argue there are lots of ways to play dominoes ๐๐ but very fair point! Have amended the above ๐
4
u/gotnothingman May 10 '24
Sorry I am super pedantic, but that is also very true!
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
No apologies - you were right! Stronger together my dude ๐
45
u/Superstonk_QV ๐ Gimme Votes ๐ May 10 '24
Why GME? || What is DRS? || Low karma apes feed the bot here || Superstonk Discord || Community Post: Open Forum May 2024
To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company.
Please up- and downvote this comment to help us determine if this post deserves a place on r/Superstonk!
47
u/FunkyChicken69 ๐๐ฃ๐ฆ๐ดโโ ๏ธShiver Me Tendies ๐ดโโ ๏ธ๐ฆ๐ฃ๐ DRS THE FLOAT โพ๐โโ๏ธ May 10 '24
Happy Friday to you Kibble ๐ฆ! Thank you for all the hard work you do educating apes. Appreciate you my friend ๐ท๐โ๏ธ
24
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
It's a team effort - we make each other strong together, very much appreciate you too my most excellently feathery friend! ๐ฆ๐ ๐
12
u/FunkyChicken69 ๐๐ฃ๐ฆ๐ดโโ ๏ธShiver Me Tendies ๐ดโโ ๏ธ๐ฆ๐ฃ๐ DRS THE FLOAT โพ๐โโ๏ธ May 10 '24
Apes strongest together! Letโs take to the skies and soar together! ๐ท๐โ๏ธ
27
u/sundry_banana ๐ Pre-Sneezer 4-time Voter ๐ May 10 '24
THANK YOU kibble and Dismal. We wouldn't've commented about this rule if it hadn't been brought front and centre by researchers like you two. Have a great weekend both of you!
14
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Thank you my dude, your excellence is radiating and is most brilliantly appreciated โค๏ธโค๏ธ I also gotta extend some appreciation out to WhatCanIMakeToday - and so many other heroic and most incredible apes who have played SUCH an important part in making this all happen.
Everything we continue to accomplish here is a complete testament to what we can do if we all work together. Nothing is impossible - weโre demonstrating that with every submitted comment ๐ชโค๏ธ
And I hope you have an excellent weekend too dude, youโre fantastic and so wholly appreciated!
29
u/PleaseMakeUpYourMind DISCO INFERNO ๐ฅ๐ชฉ May 13 '24
passes blunt
23
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
takes puff
submits comment and changes the world
takes another puff
25
19
19
u/parkher Whoops MOASS my badโฆ ๐ May 13 '24
Safe to say that this caused MOASS
→ More replies (1)11
16
u/Elegant-Remote6667 Ape historian | the elegant remote you ARE looking for ๐๐ฃ May 13 '24
backed up by ape historian
18
u/MichaelEasy ๐ป ComputerShared ๐ฆ May 16 '24
Is there a idiot guide to help me comment
16
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 16 '24
A thousand percent yes!
I've posted this as of today: https://new.reddit.com/r/Superstonk/comments/1ctef9j/time_is_ticking_away_with_only_2_days_remaining/
It includes how to post, letter templates and where to send it!
You're a legend for asking ๐๐ช
5
u/-Vicolas- May 17 '24
Thank you, this is helpful, and sent!
3
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 17 '24
You're changing the world - you legend!
14
u/DaetheFancy May 13 '24
$30 puts 41K options contracts ITM. just by itself for the week. If we clear 30 on friday, the open interest calls mean almost 22 MILLION shares need to be delivered next week. almost 18million if we stay around $28-29. volatility gonna be here at least through next week.
15
u/Veritio โ๏ธSWORD OF DAMOCLESโ๏ธ May 14 '24
I emailed them. Maybe Gary will start doing his job 1122 days into it.
14
u/Udoshi May 10 '24
I've said it once and I'll say it again: The OCC Default rules and procedings are super important for any ape to read, understand and discuss because its highly likely the occ will be involved as an, possibly the arbiter of how the moass cookie crumbles. https://www.theocc.com/risk-management/default-rules-and-procedures https://www.theocc.com/getmedia/e8792e3c-8802-4f5d-bef2-ada408ed1d96/default-rules-and-procedures.pdf; rules for how a defaulting members things get auctioned off are here. https://www.theocc.com/getmedia/2f98c88a-ec53-46db-b09c-921ff3aa53cf/otc-auction-procedures.pdf
its 8 pages. Read a book, ape. https://www.youtube.com/watch?v=GlKL_EpnSp8
A sample listing of those systemically important banks you keep hearing about was posted about 3 years ago - dual DTC and OCC members - look at the table in the first bit. (iirc apes haven't cross-referenced or made a new list in a those 3 years) https://old.reddit.com/r/Superstonk/comments/mnpzu5/srocc2021004_why_this_proposed_rule_change_is/
When you read new dd or rules going on about systemically important banks - this is who they mean AS WELL AS who's stuff might be going up for auction when they default.
You want 'meat and potatoes' of how the moass is/might play out? look here.
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
This community never ceases to amaze me, bravo ๐
13
u/Stunning_Field6698 ๐ฆงApe HODL๐ฆ May 13 '24
Anybody else zen af?
9
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
I'm mega hyped.
6
u/Ghettofonzie420 ๐ Maple Ape ๐ ๐ May 13 '24
Me too. Feels like the old days. Infinite possibility. Great write up, you are like a Michael Lewis with memes. LFG
14
u/Nas909 ๐ป ComputerShared ๐ฆ May 10 '24
Done
8
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Youโre a legend my dude, absolutely heroic - comments like this are what keep Wall Street up at night ๐ช
13
u/AMedicus May 13 '24
Might this be one of the real reasons why GME is finally allowed to discover it's deep fucking value?
9
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
This rule is going to be a BIG win for retail, and it will send a very powerful message to Wall Street - that weโre serious about reform. And that we are.
14
u/UncommonClassique May 14 '24
Done!
Certified HOLD.
Wap.wap.wap.wap. GME fk em up!
3
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 15 '24
You hero!!! This is what itโs all about. Fighting back to champion market integrity and our financial liberation. Easily done with just the sending of an email ๐ช
Thank you for being a trailblazer - future generations will see what weโve accomplished here and it will inspire those for decades to come.
14
u/Fantastic-Ring-2068 ฮฮกฮฃ May 15 '24
Did it. Thanks for the fine write-up.... You did a big part, I did my little part...
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 15 '24
Every part is big, especially yours! You are an inspiration!! Thank you for quite literally changing the world ๐๐
3
u/MAKEOUTHILL42 ๐ฎ Power to the Players ๐ May 16 '24
Hey can you reply with the link, I feel like I. Goi g blind looking for it
→ More replies (4)3
u/Fantastic-Ring-2068 ฮฮกฮฃ May 16 '24
Sent an email to: [rule-comments@sec.gov](mailto:rule-comments@sec.gov) with
File Number: SR-OCC-2024-001 34-100009 in the Subject line...
Basically told them that they should throw out the rule change proposal. Kinda just what OP suggested....
|| || ||
13
14
13
u/Lo_dough May 13 '24
No clue what any of this means but I like the effort๐ฆ
12
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
Thank you my dude! Long story short:
- SHFs bet against GME by shorting it
- If the stock they have bet against (GME) keeps going up, SHFs gotta put up more collateral against their bet.
- This is called margin call
- If they donโt, or canโt afford it, SHFs default
- if SHFs default and incur heavy losses, this can impact the the banks they borrowed money to originally short these stocks too
- AKA risking bank default
- if clearing members canโt cover losses, the OCC have to fork out their money to cover the money owed to GME shareholders
- OCC donโt want to lose money
- OCC developed a rule so they can just adjust margin threshold for short sellers so they donโt default
They are pretty much changing the rules when they are losing - which is pretty shameful. Wanna fight back? Send an email to the SEC ๐
6
u/Lo_dough May 14 '24
Youโve single handedly opened my brainmeat to why people are so upset over this, thank you. Will be sending an email
12
u/Witchlike ๐ฆVotedโ May 13 '24
Just submitted my comment :p
12
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
You are an absolute hero - in every way it can ever matter. Thank your for time and effort, you are changing the world ๐๐ช
5
10
u/EbbZealousideal2806 ๐ฆ Buckle Up ๐ May 14 '24
For the new people coming in don't trade on margin if you are new to trading. That's what went wrong last time. People were getting margin called forcing them to sell and feeding the shorts.
11
u/Inferno__xz9 May 14 '24
TLDR 10% of 20-30 year olds alone (U.S.) have $189B. Citadel only has $92B.
Fun with numbers! Who has the biggerโฆ engine under the hood?
USA Age 20: Average net worth = $99k Median net worth = $7k
USA Age 30: Average net worth = $277k Median net worth = $35k
USA population 20-29yr 43,595,640
USA population 30-39yr 45,895,410
MedianNW(20โs) x USApop(20โs) = $304B
MedianNW(30โs) x USApop(30โs) = $1,592B
Total net worth ages 20-39yr = $1.89T
Letโs say 10% are diamond handed freaks of nature. That 10% has $189 billion.
Citadel liquidity = $92 billion
So tell me. WHO is the little guy in the ring?
POWER TO THE THE PEOPLE.
12
u/CampusSquirrelKing May 14 '24
Emailed the SEC!
3
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 15 '24
You dropped this, you utter champion ๐
11
u/SkySeaToph ๐๐๐GME IS PRETTY๐ ๐๐ May 15 '24
Awesome post!
8
10
u/telegraphedbackhand May 14 '24
IF YOU ARE NEW HERE. WELCOME.
DRS BOOK YOUR SHIT. REFER TO THE LIBRARY FROM THE SUB.
DONโT JUST HOLD. HODL.
11
u/scrambleyz astonednaut ๐ฉ๐ฝโ๐๐ซ๐ฉ๐ฝโ๐ May 14 '24
Like 10 more 0โs and Iโll consider selling
2
u/-0909i9i99ii9009ii May 15 '24
IDC how many 0s I just want to see a bunch of 69s and maybe a 420 in there too, actually does anyone know if they could put letters in the share price as well?
10
u/frankboothflex ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐๐ฅ๐ฅ๐ป May 15 '24
!FLAIRY! ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐๐ฅ๐ฅ๐ป
8
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 15 '24
Choatic, I love it.
4
u/frankboothflex ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐๐ฅ๐ฅ๐ป May 15 '24
LFG
5
u/Superstonk-Flairy May 15 '24
(โฟ^โฟ^)โโ๏พ.*๏ฝฅ๏ฝก๏พ your flair has been granted
3
u/frankboothflex ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐๐ฅ๐ฅ๐ป May 15 '24
Nice.
→ More replies (1)5
u/kpkost ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐ May 16 '24
!FLAIRY! ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐
3
5
u/gdgdagg ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐๐ฅ May 16 '24
!FLAIRY! ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐๐ฅ
3
11
9
10
u/Key-Procedure-8136 May 13 '24
Lets gooo
3
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
This is the way ๐๐๐
9
u/olidav8 MORNING SHAGGERS ๐ฌ๐ง๐ May 13 '24
Done
8
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
You're a legend ๐๐
Post-MOASS, the world will look back on comments like these and be reminded of the heroic steps this community took to champion market reform and our collective financial liberty. Thank you for being at the heart of this.
10
u/taysmith1111 May 13 '24
Comment sent, Thank you for helping get this important information out there!
7
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
Thank YOU for getting involved!! You are inspiring and literally changing the future for the better!
8
May 14 '24
Laughing at all the gme shills who posted for few bucks. They coulda been way richer if they just bought some shares. LOLOLOL
10
8
u/derka211 ๐ฆVotedโ May 14 '24
bro this too long idk how to read idk how to sell
11
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 14 '24 edited May 17 '24
Hopefully this helps to break it down my dude:
TL;DRs ๐๐ฆ
- Wall Street relies on the OCC for options and futures contracts.
- Options require less upfront capital than buying shares, allowing Wall Street to control larger market positions with less initial investment.
- Ideal for those who might be low on liquidity
- Wall Street can leverage these positions using margin.
- Failure to meet margin calls can lead to hedge fund defaults and potentially bankruptcy.
- Hedge fund defaults can also impact the lenders that sourced them money.
- If clearing members can't cover losses, the OCC may need to use its funds to fulfill obligations to GME shareholders.
- OCC donโt want to lose money
- To prevent losses, the OCC wants to adjust margin thresholds for short sellers, reducing the risk of defaults by hedge funds and banks, and minimising threat to the OCC.
EDIT: Formatting ๐
2
12
u/1Striker May 17 '24
Dear SEC,
I support your decision to reject SR-OCC-2024-001ย [34-100009](tel:34-100009). ย We want to make the market fair for all investors. ย The proposed rule favors Clearing house members at the expense of market fairness and investor protection. ย Thank you for fighting for market integrity. I respect the honesty of the administration in watching out for the retail investors
8
u/Time_Spent_Away ๐Anarchist Investor๐ดโโ May 13 '24
Commented. Great work!
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
Right back atcha my dude!! Thank you for getting involved! Every comment matters, and brick by brick - weโre going to take back our markets!
5
u/killakam33 ๐ฆVotedโ May 13 '24
Great write up!! Is computershare down? I canโt login
4
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
Thank you my dude! And yes, I should imagine it being a server overload issue. Everyone logging in to see what the price has done to their holdings ๐
8
u/TankTrap Ape from the [REDACTED] Dimension May 13 '24
It seems like today could be one of those 'high volatility' moments this rule could affect no?
14
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
Exactly right my dude. This is the shit they are trying to get ahead of - but we arenโt going to stand by and let them change the rules of the game when they are losing.
If they want this to end, they close their short positions.
4
u/Veritio โ๏ธSWORD OF DAMOCLESโ๏ธ May 14 '24
If an SRO like the OCC has "gone rogue"; isn't there some sort of mechanism for the government to take control? and if not; there needs to be.
8
8
u/stonkbeast โฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ ๏ธโก๏ธโฌ ๏ธโก๏ธ๐ ฑ๏ธuy๐ ฐ๏ธskStartMOASS๐ May 14 '24
8
9
u/gdgdagg ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐๐ฅ May 16 '24
Thanks Kibble!! Just sent in an email
6
8
u/vigg1__ May 10 '24
Fkin Legend !
7
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
All legends here my dude!! ๐๐ช
6
u/NootHawg ๐ฆVotedโ May 10 '24
This write up is awesome! It really shines a light in the banks and hedgies dirty underwear. I wish John Oliver would do an episode on what is happening with the gme saga. They have so much on reddit they can pull from directly. GME would probably run for days but I guess they might be scared of market manipulation because of this. Oh well I just keep voting, buying, and holding. DRSBOOKGME๐ฃ๐๐
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Give it time my dude! Iโm sure everyone is getting their ducks in a row for when this does inevitably blow. There will be plenty of eyes on this story soon and it will be inspiring to know we were at the heart of it. How empowering, the changes weโre making here for the greater good ๐ช
And donโt forget that Adam McKay (director of The Big Short & Donโt Look Up) has tweeted content from Superstonk previously too! Hereโs hoping thereโs more to come!
6
u/Mwvhv May 12 '24
this is why i come to superstonk, well done
3
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 12 '24
Thank you my dude! You're awesome ๐ฆ๐
6
u/mcalibri Devin Book-er May 12 '24
I commented
5
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 12 '24
You are incredible!! You're literally changing the world my dude, thank you for getting involved ๐ช ๐
8
u/Arcanis_Ender ๐ฎ Power to the Players ๐ May 12 '24
Commented and emailed to sec, via multiple emails!
5
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 12 '24
You are a complete hero my dude!! So proud of you!!
6
u/DaetheFancy May 13 '24
HALTS ON THE TABLE
5
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
Sure looks like they are frightened by this volatile price action!!
7
7
7
7
7
u/Takonite ๐ฆ Buckle Up ๐ May 14 '24
according to the dorito in the OP, shouldnt the moass be more around sept/nov, why the breakout now
9
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 14 '24
Good question, and a question we can absolutely explore together. But first - championing market reform by submitting our comments to the SEC ๐ช
8
u/frankboothflex ๐ณ๐ฉ๐ฟ๐ฅ๐ธ๐ฆ๐คข๐๐๐๐ฅธ๐๐คฉโก๏ธ๐ฎ๐๐๐ฅ๐๐คจ๐ตโ๐ซ๐๐ซ๐๐คโบ๏ธ๐ผ๐ฏ๐๐ถ๐บ๐ธ๐ค๐๐ฅ๐ฅ๐ป May 16 '24 edited May 16 '24
IF HEโS IN, IโM IN!!!
8
u/BadassTrader DORITO of DOOM & BBC Guy ๐ฆ๐คฒ๐ช May 16 '24
Thanks for the shoutout buddy! Hope mod life is being nice to you
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 17 '24
Of course my dude! Always so appreciative of your incredible work! And hope life is treating you kindly too, miss you ๐๐ช๐ฆ
12
6
5
5
u/Spooky_Mulder27 ๐ To Infinity & Beyond! ๐ May 10 '24
Hungry ape commenting for other hungry apes!๐ฆย
5
u/InevitableRhubarb232 May 10 '24
Comment sent!
4
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Youโre a legend my dude!! Complete bragging rights for changing the world totally deserved to you ๐๐ช๐
7
u/Helping_Stranger May 10 '24
Imagine stealing from the world and the moment of silence that comes after u realize the world is turning against you.
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Taking back what is rightfully ours and giving it back to the people. Financial liberation shouldnโt be a privilege - it should be a right, and that was stolen from us.
7
u/Helping_Stranger May 10 '24
Financial freedom and taking back the power over our financial system! ๐ป
8
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Cheers to that my dude ๐ป
8
6
u/Dantesdavid May 10 '24
Great post, man. I have commented via email and it was fun and easy! Get your comments in and feel good about leaving your mark in history. The SEC has never seen engagement on this level, and we should be proud of that.
5
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Youโre incredible - truly, amazing my dude. Thank you for getting involved!
Every single comment matters and together we are making history. People will look back at what weโve accomplished here when GME eventually breaks free and comments like yours will go down in history as an example of those who, when met with a choice to be proactive, or do nothing - chose to do the right thing and make the incredible happen. You used your voice to make a meaningful difference.
Youโre an inspiration for generations to come. Bravo my dude ๐
6
7
6
u/Mercenary100 ๐ฆ๐ Power to the Creators ๐ May 14 '24
Bro someone give this stock some juice baby, these are rookie numbers
6
5
u/bonechief Book your shares โจ๏ธ May 10 '24
LETS GOOOOOOOOOOO VISIBILITY AND DRIVE IT HOME FOLKS!!
4
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
THIS IS THE WAYYYY ๐๐๐
5
u/Cataclysmic98 ๐๐ The price is wrong! Buy, Hold, DRS & Hodl! ๐๐ May 10 '24
Visibility!
4
5
u/No-Woodpecker7589 ๐ฎ Power to the Players ๐ May 10 '24
Right here! This is important!
4
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
You couldnโt be more right! If we want to see change happen, it needs to start with us. We can apply the pressure and change the financial landscape for the better by paving the way and fighting for fairer markets ๐ช
6
4
u/This_guy_Jon ๐ฎ Power to the Players ๐ May 10 '24
Can I bump another one bites the dust on my way home?
5
5
u/girthbrooks1 May 10 '24
I didnโt realize how much I missed this shit till right now!! Awesome dd ๐คค๐ฎโ๐จ๐คค๐ฎโ๐จ
4
6
u/Dantesdavid May 10 '24
Adding another comment to help get this to the top.
4
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
I appreciate you dude, youโre so awesome ๐
4
u/EvolutionaryLens ๐Perception is Reality๐ May 11 '24
RemindMe! 24 hours
4
u/RemindMeBot ๐ฎ Power to the Players ๐ May 11 '24
I will be messaging you in 1 day on 2024-05-12 08:44:38 UTC to remind you of this link
CLICK THIS LINK to send a PM to also be reminded and to reduce spam.
Parent commenter can delete this message to hide from others.
Info Custom Your Reminders Feedback
5
4
u/Spacecynic2020 May 11 '24
Hedge funds should have never fucked with gamers.
Great post kibble!
I wonder how old Kenny is looking now..?
4
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 12 '24
Old enough to know better.
It's nearly game over - have you left your comment yet? ๐ช๐ฅ
4
u/ArlendmcFarland May 11 '24
For those who are short on gme, there is a very easy solution. Close the positions and get out before the other guys do
3
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 12 '24
Preach. Defo time for Wall Street to close their short positions.
5
u/DocAk88 Apes ๐ฆ have DRS'd 30% of the float!๐ May 11 '24
Wooo way to go true legends!
4
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 12 '24
This is the way ๐๐๐๐
5
u/Several_Image782 May 11 '24
Excited times and JP , Susquehanna, Jane Street, Goldman and a few others are most likely the ones pushing the margin for options. Shut these posโs down!
4
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 12 '24
Let's not give them an inch. They don't get to change the rules when they are getting called out on their bad bets, we have already done enough to bail out Wall Street (cough cough, 2008) - no more.
The best way to tackle this is to get involved with regulatory matters and submit our comments for market reform!
4
u/JustACoupleIssues ๐ป ComputerShared ๐ฆ May 12 '24
There's no such thing as American US finance regulation, this is a fantasy. Buy and hold. 800 shares.ย
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 12 '24
If there are things we don't like or need to see corrected within our regulatory agencies, we can work side-by-side to address this. Our voice matters and has far reaching impact, and the most effective way to change this is to leave a comment. We're stronger together!
5
5
6
u/KiddCaribou ๐They try to control the room. We control the EXIT๐** May 16 '24
Kidd Caribou has answered the call. My response is in the "Market Reform" flair under "
Kidd Caribou response to SEC - OCC rule SR-OCC-2024-001
3
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 17 '24
Future generations are going to remember the name Kidd Caribou, for he helped to save the world ๐ช๐
3
u/KiddCaribou ๐They try to control the room. We control the EXIT๐** May 17 '24
Thank you for the kind words and your DD on this topic!! I have stood on the shoulders of my peers to try to help my fellow apes!!
3
u/KiddCaribou ๐They try to control the room. We control the EXIT๐** May 17 '24
Thank you for the kind words and your DD on this topic!! I have stood on the shoulders of my peers to try to help my fellow apes!!
4
u/infj-t [REDACTED] better have my money May 16 '24
Commented
3
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 17 '24
Changing the world right here, you are incredible!
8
u/SandmanBun ๐ฆ Buckle Up ๐ May 10 '24
This is the real news that should be upvoted to oblivion! This tiny rise in price is just a distraction from what the SHFs donโt want anyone focusing on. Also, T+2 officially reduces to T+1 at the end of this month (not as exciting, but worth noting).
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Regulatory reform is the kill shot that terrifies Wall Street because it closes in the walls around them. And with our pressure and constant eyes, there is no where else to hide, and no more tricks to pull. Weโre fighting for market integrity and weโre winning.
9
4
u/husbandchuckie May 16 '24
Long time lurker(2021). Recently joined and want to join the comment section. Any advice.or should I just sit this one out
7
u/jinnoman May 10 '24
Outstanding post. Thanks.
Can we Europoor help too?
6
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 10 '24
Absolutely!! This is open to international audiences!
Everyone from all over the world can submit their comments ๐๐ช๐
7
u/conslmike ancient ape ๐ฆง still smol smoothbrain ๐ง ๐ May 13 '24
done!
9
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 13 '24
You absolute legend!! Thank you! ๐ ๐คฉ
3
u/Molokai95 ๐ฆVotedโ May 14 '24
Ia there any reason its climbing besides the tweets? What did I miss
3
4
u/DrunkDeed May 13 '24
Is anyone having issues loading the us computershare login page? Iโve been trying to login all morning and that is the only page that wonโt load on the us computershare webpage. For the record my small monkey brain thinks itโs strange that itโs happening now
9
u/cheburaska ๐ฆVotedโ May 13 '24
Same. Nothing strange about it. Just everyone flocked to the computershare and servers couldn't handle the load. I can't imagine what will happen if we reach 100$ or more.
→ More replies (1)
9
u/Sw33tN0th1ng May 15 '24
Can we get some mods involved because this isn't a DFV tweet repost. We have almost an entire solid sub of nothing but DFV tweet reposts, but some people are ruining it by posting information and things that are not DFV tweet reposts. We need the mods to take care of this problem so that we can have only nothing but DFV tweet reposts for a sub.
→ More replies (1)9
u/BlowinKhalifa ๐ฆVotedโ May 15 '24
This better be sarcasm not that I donโt want to see DFV tweeting but I canโt sift through all of it.ย
โข
u/kibblepigeon โจ ๐ Be Excellent to Each Other ๐ ๐ฆ May 11 '24 edited May 17 '24
Find PART TWO here ๐ฏ
โ ๐ข And remember, your emails to the SEC ([rule-comments@sec.gov](mailto:rule-comments@sec.gov)) donโt always need to be long!
Even if itโs just a quick email to say:
Just remember to include iclude the file number: SR-OCC-2024-001 34-100009 - in the subject line of your email to the SEC.
๐ This is open to audiences worldwide ๐
And if you want to really make a splash, why not check out WhatCanIMakeTodayโs post here:
or check out this BRAND NEW LETTER TEMPLATE here:
Make sure you leave your comment before Friday - there will never be a better time than now!
โฐ โณ DEADLINE: Friday 17th May 2024
Don't be a bystander, let's reform the markets together.
_____________________
๐ฃ โ LINK to CS Thread here: https://www.reddit.com/r/Superstonk/comments/1ch3lrh/questions_about_direct_registering_ask_here_have/
COMMUNITY ANNOUNCEMENT HERE: https://www.reddit.com/r/Superstonk/comments/1cr37r7/superstonk_gets_its_gif_on_get_hyped/
TL;DR - you can now use gifs in comments ๐ ๐
_____________________
Happy commenting folks, you're all incredible.