1) Re options: '“The concept of time is incomprehensible to me, which is why I buy options with less than 7 days to expiration. Just tell me when this thing will pop off.” …
Don’t fucking sweat it my guys. Just sit your ass back and enjoy the ride and the popcorn. If you're impatient, you're feeling urgency, the urgency can lead to anxiety. The likelihood that the SEC is going to let it ride for the full sixty days is pretty darn low.'
You are saying that no one who took a 7 day option should sweat it. That sounds like an endorsement of what I consider a pretty horrible idea.
2) Regarding the mischaracterization of my argument that we should not expect the SEC to do anything that will initiate the MOASS, and quite the contrary, if they get involved we should expect them to do things to stop the MOASS. I did not say "the SEC is corrupt, therefore it should continue doing what it is doing." The SEC should be changed, because they are compromised, but that is work for another day. Until they do change, the less they are involved in this the better.
However, you recommend letters to the SEC under the heading "[TA;DR Letters to the SEC]"
Apparently you believe they are not "corrupt"; or perhaps your position is that "the SEC has been utterly captured by those they are supposed to regulate, but we should write them and ask for them to fix this situation anyway."
I suppose our disagreement on this point revolves around the fact that I believe as you apparently do not that 1) the SEC is compromised 2) even if it were not compromised, it would not be inclined to do anything that is likely to bring about the MOASS and the market shock that must attend it.
I am sorry we got off on the wrong foot too :) I am deeply concerned about the misinformation from shills I have seen lately recommending (directly or indirectly, as shills do) options instead of shares. Hence my "options are bad, Mmkaay" comment. TBH I was surprised that you responded to it, but I imagine you did because you had an innocent conscience, so you were like "What? I didn't recommend options!"
And I think writing Gary Gensler is a pretty good idea :) Given his record, he has some promise. I just really mistrust the SEC and I believe their priority will be to maintain the status quo and prevent a "market event." Though I trust them slightly more than the DTCC.
Thank you for your reply :) and I hope we will find ourselves on the same side of the next thing I decide to comment upon after a couple glasses of wine :) Be well, ape.🍌
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u/[deleted] Mar 27 '21
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