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Wow. Just wow. As RH user myself, I did not have a clue I was actually doing business (indirectly) with Citadel. I'll be closing my RH account soon. For now, I
by game_the0ry 6y ago
Wow. Just wow. As RH user myself, I did not have a clue I was actually doing business (indirectly) with Citadel.
I'll be closing my RH account soon. For now, I'll be holding the line on GME.
- colinmhayes 6y agoEveryone who buys options is doing business with citadel. They're the originator of most options. HFT firms are inescapable because their very reason for existing is to provide the market with the best prices.
- whimsicalism 6y agoIf you plan on continuing trading, it is going to be difficult to avoid doing business indirectly with Citadel, they are a major market maker.
- adrr 6y agoI am curious about holding GME. Is your plan to keep it long term? If not what are you plans to unwind your positions? Certain price point? Certain time frame?
- jiofih 6y agoI think a majority of people riding this don’t care where the money goes - they just want to stick it to the man.
- 542458 6y agoWhich IMO is silly. Institutional investors hold 160% of GME’s float. For every institutional investor wanting it to tank there are others who want to see it rise. It’s not like the institutions all agree or anything - “The man” is on both sides of this.
- adrr 6y agoThey are collecting interest from hedgefunds for the short positions and collecting interest from brokerages for capital they provide for margin accounts. They win no matter what.
- game_the0ry 6y agoAdditionally, I speculate that Citadel/RH/IBKR and any other brokers that stopped buys on GME/AMC had sign-off from regulators (SEC etc.) where the fines they will surely incur would be limited to non-existent. Not only hedge funds and brokers colluding against the retail investors, but the government as well. Yeah...sounds about right.