Jason1616 personal page - To The Moon

Jason1616

No personal profile

9Follow

36Followers

0Topic

0Badge

02-08

Huat ahhhhhhhh

2023-04-17

Invest safe and be patience

2023-04-16

Be patience and invest safe

2023-04-15

Be patience and invest safe.

2023-04-13

Nice invest safe and be patience

2023-04-12

Nice. Invest safe and be patience

2023-04-11

Nice. Invest safe and be patience

2023-04-10

Invest safe and be patience

2023-04-09

Invest safe and good luck

2023-04-07

Nice game To play. Disney share to win

2023-04-06

Have fun and stay safe

2023-03-13

Nice info

20 Banks That Are Sitting on Huge Potential Securities Losses--As Was SVB

2023-02-17

Reddit famous for options traders flaunting their winnings. 🤣

The Popularity of These Risky Option Bets Has Wall Street on Edge

2023-01-18

Invest safe. We are not out of the woods yet

2023-01-17

Invest safe for 2023

2023-01-16

Invest safe for 2023

2023-01-15

Invest safe And have a good 2023 investment year

2023-01-14

Rally comes, invest safe

2023-01-12

Invest safe

2023-01-11

Thought miss woody say will reach $3000 in2022. :(

Cathie Wood Makes Whopping $12M Buy In Tesla Stock — Offloads Xpeng For 3rd Straight Day

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":3572267605406030,"uuid":"3572267605406030","gmtCreate":1611507132343,"gmtModify":1611507132343,"name":"Jason1616","pinyin":"jason1616","introduction":"","introductionEn":"","signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":36,"headSize":9,"tweetSize":157,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":1,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.10.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.04","exceedPercentage":"93.42%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.02.06","exceedPercentage":"93.97%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":7,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":271792318500984,"gmtCreate":1707393330069,"gmtModify":1707397706356,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Huat ahhhhhhhh","listText":"Huat ahhhhhhhh","text":"Huat ahhhhhhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/271792318500984","isVote":1,"tweetType":1,"viewCount":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944980769,"gmtCreate":1681664567951,"gmtModify":1681696151476,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Invest safe and be patience&nbsp;","listText":"Invest safe and be patience&nbsp;","text":"Invest safe and be patience","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944980769","isVote":1,"tweetType":1,"viewCount":161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945701138,"gmtCreate":1681574767725,"gmtModify":1681612228162,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Be patience and invest safe","listText":"Be patience and invest safe","text":"Be patience and invest safe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945701138","isVote":1,"tweetType":1,"viewCount":284,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945242192,"gmtCreate":1681492031116,"gmtModify":1681493557839,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Be patience and invest safe.&nbsp;","listText":"Be patience and invest safe.&nbsp;","text":"Be patience and invest safe.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945242192","isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945016898,"gmtCreate":1681319719514,"gmtModify":1681319975943,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Nice invest safe and be patience","listText":"Nice invest safe and be patience","text":"Nice invest safe and be patience","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945016898","isVote":1,"tweetType":1,"viewCount":238,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9942249536,"gmtCreate":1681235555625,"gmtModify":1681249129342,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Nice. Invest safe and be patience","listText":"Nice. Invest safe and be patience","text":"Nice. Invest safe and be patience","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9942249536","isVote":1,"tweetType":1,"viewCount":609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9942131897,"gmtCreate":1681149257019,"gmtModify":1681162237137,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Nice. Invest safe and be patience","listText":"Nice. Invest safe and be patience","text":"Nice. Invest safe and be patience","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9942131897","isVote":1,"tweetType":1,"viewCount":136,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9946768478,"gmtCreate":1681057086594,"gmtModify":1681092951901,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Invest safe and be patience","listText":"Invest safe and be patience","text":"Invest safe and be patience","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9946768478","isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9946255187,"gmtCreate":1680976509850,"gmtModify":1681006584349,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Invest safe and good luck","listText":"Invest safe and good luck","text":"Invest safe and good luck","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9946255187","isVote":1,"tweetType":1,"viewCount":249,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9946100495,"gmtCreate":1680880236717,"gmtModify":1680882018476,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Nice game To play. Disney share to win","listText":"Nice game To play. Disney share to win","text":"Nice game To play. Disney share to win","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9946100495","isVote":1,"tweetType":1,"viewCount":261,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9948792789,"gmtCreate":1680787275341,"gmtModify":1680788878981,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Have fun and stay safe","listText":"Have fun and stay safe","text":"Have fun and stay safe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9948792789","isVote":1,"tweetType":1,"viewCount":128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9949654782,"gmtCreate":1678643690247,"gmtModify":1678672906881,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Nice info","listText":"Nice info","text":"Nice info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949654782","repostId":"2318857796","repostType":4,"repost":{"id":"2318857796","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1678601805,"share":"https://www.laohu8.com/m/news/2318857796?lang=&edition=full","pubTime":"2023-03-12 14:16","market":"us","language":"en","title":"20 Banks That Are Sitting on Huge Potential Securities Losses--As Was SVB","url":"https://stock-news.laohu8.com/highlight/detail?id=2318857796","media":"Dow Jones","summary":"SVB Financial Group faced a perfect storm, but there are plenty of other banks that would face big l","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/SIVBO\">SVB Financial Group</a> faced a perfect storm, but there are plenty of other banks that would face big losses if they were forced to dump securities to raise cash</p><p>Silicon Valley Bank has failed following a run on deposits, after its parent company&#39;s share price crashed a record 60% on Thursday.</p><p>Trading of <a href=\"https://laohu8.com/S/SIVBP\">SVB Financial Group</a>&#39;s <a href=\"https://laohu8.com/S/SIVB\">$(SIVB)$</a> stock was halted early Friday, after the shares plunged again in premarket trading. Treasury Secretary Janet Yellen said SVB was one of a few banks she was &#34;monitoring very carefully.&#34; Reaction poured in from several analysts who discussed the bank&#39;s liquidity risk.</p><p>California regulators closed Silicon Valley Bank and handed the wreckage over to the Federal Deposit Insurance Administration later on Friday.</p><p>Below is the same list of 10 banks we highlighted on Thursday that showed similar red flags to those shown by SVB Financial through the fourth quarter. This time, we will show how much they reported in unrealized losses on securities -- an item that played an important role in SVB&#39;s crisis.</p><p>Below that is a screen of U.S. banks with at least $10 billion in total assets, showing those that appeared to have the greatest exposure to unrealized securities losses, as a percentage of total capital, as of Dec. 31.</p><h3>First, a quick look at SVB</h3><p>Some media reports have referred to SVB of Santa Clara, Calif., as a small bank, but it had $212 billion in total assets as of Dec. 31, making it the 17th largest bank in the Russell 3000 Index  as of Dec. 31. That makes it the largest U.S. bank failure since Washington Mutual in 2008.</p><p>One unique aspect of SVB was its decades-long focus on the venture capital industry. The bank&#39;s loan growth had been slowing as interest rates rose. Meanwhile, when announcing its $21 billion dollars in securities sales on Thursday, SVB said it had taken the action not only to lower its interest-rate risk, but because &#34;client cash burn has remained elevated and increased further in February, resulting in lower deposits than forecasted.&#34;</p><p>SVB estimated it would book a $1.8 billion loss on the securities sale and said it would raise $2.25 billion in capital through two offerings of new shares and a convertible bond offering. That offering wasn&#39;t completed.</p><p>So this appears to be an example of what can go wrong with a bank focused on a particular industry. The combination of a balance sheet heavy with securities and relatively light on loans, in a rising-rate environment in which bond prices have declined and in which depositors specific to that industry are themselves suffering from a decline in cash, led to a liquidity problem.</p><h3>Unrealized losses on securities</h3><p>Banks leverage their capital by gathering deposits or borrowing money either to lend the money out or purchase securities. They earn the spread between their average yield on loans and investments and their average cost for funds.</p><p>The securities investments are held in two buckets:</p><p>In its regulatory Consolidated Financial Statements for Holding Companies--FR Y-9C, filed with the Federal Reserve, SVB Financial, reported a negative $1.911 billion in accumulated other comprehensive income as of Dec. 31. That is line 26.b on Schedule HC of the report, for those keeping score at home. You can look up regulatory reports for any U.S. bank holding company, savings and loan holding company or subsidiary institution at the Federal Financial Institution Examination Council&#39;s National Information Center. Be sure to get the name of the company or institution right -- or you may be looking at the wrong entity.</p><p>Here&#39;s how accumulated other comprehensive income (AOCI) is defined in the report: &#34;Includes, but is not limited to, net unrealized holding gains (losses) on available-for-sale securities, accumulated net gains (losses) on cash flow hedges, cumulative foreign currency translation adjustments, and accumulated defined benefit pension and other postretirement plan adjustments.&#34;</p><p>In other words, it was mostly unrealized losses on SVB&#39;s available-for-sale securities. The bank booked an estimated $1.8 billion loss when selling &#34;substantially all&#34; of these securities on March 8.</p><p>The list of 10 banks with unfavorable interest margin trends</p><p>On the regulatory call reports, AOCI is added to regulatory capital. Since SVB&#39;s AOCI was negative (because of its unrealized losses on AFS securities) as of Dec. 31, it lowered the company&#39;s total equity capital. So a fair way to gauge the negative AOCI to the bank&#39;s total equity capital would be to divide the negative AOCI by total equity capital less AOCI -- effectively adding the unrealized losses back to total equity capital for the calculation.</p><p>Getting back to our list of 10 banks that raised similar red margin flags to those of SVB, here&#39;s the same group, in the same order, showing negative AOCI as a percentage of total equity capital as of Dec. 31. We have added SVB to the bottom of the list. The data was provided by FactSet:</p><p><img src=\"https://static.tigerbbs.com/12eb7c2420e69b60c526a6b6ef79626d\" tg-width=\"887\" tg-height=\"715\" width=\"100%\" height=\"auto\"/></p><p>Ally Financial Inc. (ALLY) -- the third largest bank on the list by Dec. 31 total assets -- stands out as having the largest percentage of negative accumulated comprehensive income relative to total equity capital as of Dec. 31.</p><p>To be sure, these numbers don&#39;t mean that a bank is in trouble, or that it will be forced to sell securities for big losses. But SVB had both a troubling pattern for its interest margins and what appeared to be a relatively high percentage of securities losses relative to capital as of Dec. 31.</p><h3>Banks with the highest percentage of negative AOCI to capital</h3><p>There are 108 banks in the Russell 3000 Index  that had total assets of at least $10.0 billion as of Dec. 31. FactSet provided AOCI and total equity capital data for 105 of them. Here are the 20 which had the highest ratios of negative AOCI to total equity capital less AOCI (as explained above) as of Dec. 31:</p><p><img src=\"https://static.tigerbbs.com/8c786a5e88cfaa8510ac5458b4a31b86\" tg-width=\"884\" tg-height=\"618\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/6bbd38b51d92ae37f23e7fbff46e9c08\" tg-width=\"879\" tg-height=\"668\" width=\"100%\" height=\"auto\"/>Again, this is not to suggest that any particular bank on this list based on Dec. 31 data is facing the type of perfect storm that has hurt SVB Financial. A bank sitting on large paper losses on its AFS securities may not need to sell them. In fact <a href=\"https://laohu8.com/S/CMA\">Comerica Inc.</a>, which tops the list, also improved its interest margin the most over the past four quarters, as shown here.</p><p>But it is interesting to note that <a href=\"https://laohu8.com/S/SI\">Silvergate Capital Corp.</a>, which focused on serving clients in the virtual currency industry, made the list. It is shuttering its bank subsidiary voluntarily.</p><p>Another bank on the list facing concern among depositors is <a href=\"https://laohu8.com/S/SBNY\">Signature Bank</a> of New York, which has a diverse business model, but has also faced a backlash related to the services it provides to the virtual currency industry. The bank’s shares fell 12% on Thursday and were down another 24% in afternoon trading on Friday.</p><p>Signature Bank said in a statement that it was in a “strong, well-diversified financial position.”</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>20 Banks That Are Sitting on Huge Potential Securities Losses--As Was SVB</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n20 Banks That Are Sitting on Huge Potential Securities Losses--As Was SVB\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-03-12 14:16</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/SIVBO\">SVB Financial Group</a> faced a perfect storm, but there are plenty of other banks that would face big losses if they were forced to dump securities to raise cash</p><p>Silicon Valley Bank has failed following a run on deposits, after its parent company&#39;s share price crashed a record 60% on Thursday.</p><p>Trading of <a href=\"https://laohu8.com/S/SIVBP\">SVB Financial Group</a>&#39;s <a href=\"https://laohu8.com/S/SIVB\">$(SIVB)$</a> stock was halted early Friday, after the shares plunged again in premarket trading. Treasury Secretary Janet Yellen said SVB was one of a few banks she was &#34;monitoring very carefully.&#34; Reaction poured in from several analysts who discussed the bank&#39;s liquidity risk.</p><p>California regulators closed Silicon Valley Bank and handed the wreckage over to the Federal Deposit Insurance Administration later on Friday.</p><p>Below is the same list of 10 banks we highlighted on Thursday that showed similar red flags to those shown by SVB Financial through the fourth quarter. This time, we will show how much they reported in unrealized losses on securities -- an item that played an important role in SVB&#39;s crisis.</p><p>Below that is a screen of U.S. banks with at least $10 billion in total assets, showing those that appeared to have the greatest exposure to unrealized securities losses, as a percentage of total capital, as of Dec. 31.</p><h3>First, a quick look at SVB</h3><p>Some media reports have referred to SVB of Santa Clara, Calif., as a small bank, but it had $212 billion in total assets as of Dec. 31, making it the 17th largest bank in the Russell 3000 Index  as of Dec. 31. That makes it the largest U.S. bank failure since Washington Mutual in 2008.</p><p>One unique aspect of SVB was its decades-long focus on the venture capital industry. The bank&#39;s loan growth had been slowing as interest rates rose. Meanwhile, when announcing its $21 billion dollars in securities sales on Thursday, SVB said it had taken the action not only to lower its interest-rate risk, but because &#34;client cash burn has remained elevated and increased further in February, resulting in lower deposits than forecasted.&#34;</p><p>SVB estimated it would book a $1.8 billion loss on the securities sale and said it would raise $2.25 billion in capital through two offerings of new shares and a convertible bond offering. That offering wasn&#39;t completed.</p><p>So this appears to be an example of what can go wrong with a bank focused on a particular industry. The combination of a balance sheet heavy with securities and relatively light on loans, in a rising-rate environment in which bond prices have declined and in which depositors specific to that industry are themselves suffering from a decline in cash, led to a liquidity problem.</p><h3>Unrealized losses on securities</h3><p>Banks leverage their capital by gathering deposits or borrowing money either to lend the money out or purchase securities. They earn the spread between their average yield on loans and investments and their average cost for funds.</p><p>The securities investments are held in two buckets:</p><p>In its regulatory Consolidated Financial Statements for Holding Companies--FR Y-9C, filed with the Federal Reserve, SVB Financial, reported a negative $1.911 billion in accumulated other comprehensive income as of Dec. 31. That is line 26.b on Schedule HC of the report, for those keeping score at home. You can look up regulatory reports for any U.S. bank holding company, savings and loan holding company or subsidiary institution at the Federal Financial Institution Examination Council&#39;s National Information Center. Be sure to get the name of the company or institution right -- or you may be looking at the wrong entity.</p><p>Here&#39;s how accumulated other comprehensive income (AOCI) is defined in the report: &#34;Includes, but is not limited to, net unrealized holding gains (losses) on available-for-sale securities, accumulated net gains (losses) on cash flow hedges, cumulative foreign currency translation adjustments, and accumulated defined benefit pension and other postretirement plan adjustments.&#34;</p><p>In other words, it was mostly unrealized losses on SVB&#39;s available-for-sale securities. The bank booked an estimated $1.8 billion loss when selling &#34;substantially all&#34; of these securities on March 8.</p><p>The list of 10 banks with unfavorable interest margin trends</p><p>On the regulatory call reports, AOCI is added to regulatory capital. Since SVB&#39;s AOCI was negative (because of its unrealized losses on AFS securities) as of Dec. 31, it lowered the company&#39;s total equity capital. So a fair way to gauge the negative AOCI to the bank&#39;s total equity capital would be to divide the negative AOCI by total equity capital less AOCI -- effectively adding the unrealized losses back to total equity capital for the calculation.</p><p>Getting back to our list of 10 banks that raised similar red margin flags to those of SVB, here&#39;s the same group, in the same order, showing negative AOCI as a percentage of total equity capital as of Dec. 31. We have added SVB to the bottom of the list. The data was provided by FactSet:</p><p><img src=\"https://static.tigerbbs.com/12eb7c2420e69b60c526a6b6ef79626d\" tg-width=\"887\" tg-height=\"715\" width=\"100%\" height=\"auto\"/></p><p>Ally Financial Inc. (ALLY) -- the third largest bank on the list by Dec. 31 total assets -- stands out as having the largest percentage of negative accumulated comprehensive income relative to total equity capital as of Dec. 31.</p><p>To be sure, these numbers don&#39;t mean that a bank is in trouble, or that it will be forced to sell securities for big losses. But SVB had both a troubling pattern for its interest margins and what appeared to be a relatively high percentage of securities losses relative to capital as of Dec. 31.</p><h3>Banks with the highest percentage of negative AOCI to capital</h3><p>There are 108 banks in the Russell 3000 Index  that had total assets of at least $10.0 billion as of Dec. 31. FactSet provided AOCI and total equity capital data for 105 of them. Here are the 20 which had the highest ratios of negative AOCI to total equity capital less AOCI (as explained above) as of Dec. 31:</p><p><img src=\"https://static.tigerbbs.com/8c786a5e88cfaa8510ac5458b4a31b86\" tg-width=\"884\" tg-height=\"618\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/6bbd38b51d92ae37f23e7fbff46e9c08\" tg-width=\"879\" tg-height=\"668\" width=\"100%\" height=\"auto\"/>Again, this is not to suggest that any particular bank on this list based on Dec. 31 data is facing the type of perfect storm that has hurt SVB Financial. A bank sitting on large paper losses on its AFS securities may not need to sell them. In fact <a href=\"https://laohu8.com/S/CMA\">Comerica Inc.</a>, which tops the list, also improved its interest margin the most over the past four quarters, as shown here.</p><p>But it is interesting to note that <a href=\"https://laohu8.com/S/SI\">Silvergate Capital Corp.</a>, which focused on serving clients in the virtual currency industry, made the list. It is shuttering its bank subsidiary voluntarily.</p><p>Another bank on the list facing concern among depositors is <a href=\"https://laohu8.com/S/SBNY\">Signature Bank</a> of New York, which has a diverse business model, but has also faced a backlash related to the services it provides to the virtual currency industry. The bank’s shares fell 12% on Thursday and were down another 24% in afternoon trading on Friday.</p><p>Signature Bank said in a statement that it was in a “strong, well-diversified financial position.”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4191":"家用电器","BK4585":"ETF&股票定投概念","LU1861217088.USD":"贝莱德金融科技A2","BK4139":"生物科技","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","BK4211":"区域性银行","BK4007":"制药","BOLT":"Bolt Biotherapeutics, Inc.","BK4166":"消费信贷","SBNY":"签字银行","BK4588":"碎股","KEY":"KeyCorp","BK4561":"索罗斯持仓","ALLY":"Ally Financial Inc.","TERN":"Terns Pharmaceuticals, Inc.","BK4548":"巴美列捷福持仓","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","CRCT":"Cricut, Inc.","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","BK4539":"次新股"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2318857796","content_text":"SVB Financial Group faced a perfect storm, but there are plenty of other banks that would face big losses if they were forced to dump securities to raise cashSilicon Valley Bank has failed following a run on deposits, after its parent company's share price crashed a record 60% on Thursday.Trading of SVB Financial Group's $(SIVB)$ stock was halted early Friday, after the shares plunged again in premarket trading. Treasury Secretary Janet Yellen said SVB was one of a few banks she was \"monitoring very carefully.\" Reaction poured in from several analysts who discussed the bank's liquidity risk.California regulators closed Silicon Valley Bank and handed the wreckage over to the Federal Deposit Insurance Administration later on Friday.Below is the same list of 10 banks we highlighted on Thursday that showed similar red flags to those shown by SVB Financial through the fourth quarter. This time, we will show how much they reported in unrealized losses on securities -- an item that played an important role in SVB's crisis.Below that is a screen of U.S. banks with at least $10 billion in total assets, showing those that appeared to have the greatest exposure to unrealized securities losses, as a percentage of total capital, as of Dec. 31.First, a quick look at SVBSome media reports have referred to SVB of Santa Clara, Calif., as a small bank, but it had $212 billion in total assets as of Dec. 31, making it the 17th largest bank in the Russell 3000 Index  as of Dec. 31. That makes it the largest U.S. bank failure since Washington Mutual in 2008.One unique aspect of SVB was its decades-long focus on the venture capital industry. The bank's loan growth had been slowing as interest rates rose. Meanwhile, when announcing its $21 billion dollars in securities sales on Thursday, SVB said it had taken the action not only to lower its interest-rate risk, but because \"client cash burn has remained elevated and increased further in February, resulting in lower deposits than forecasted.\"SVB estimated it would book a $1.8 billion loss on the securities sale and said it would raise $2.25 billion in capital through two offerings of new shares and a convertible bond offering. That offering wasn't completed.So this appears to be an example of what can go wrong with a bank focused on a particular industry. The combination of a balance sheet heavy with securities and relatively light on loans, in a rising-rate environment in which bond prices have declined and in which depositors specific to that industry are themselves suffering from a decline in cash, led to a liquidity problem.Unrealized losses on securitiesBanks leverage their capital by gathering deposits or borrowing money either to lend the money out or purchase securities. They earn the spread between their average yield on loans and investments and their average cost for funds.The securities investments are held in two buckets:In its regulatory Consolidated Financial Statements for Holding Companies--FR Y-9C, filed with the Federal Reserve, SVB Financial, reported a negative $1.911 billion in accumulated other comprehensive income as of Dec. 31. That is line 26.b on Schedule HC of the report, for those keeping score at home. You can look up regulatory reports for any U.S. bank holding company, savings and loan holding company or subsidiary institution at the Federal Financial Institution Examination Council's National Information Center. Be sure to get the name of the company or institution right -- or you may be looking at the wrong entity.Here's how accumulated other comprehensive income (AOCI) is defined in the report: \"Includes, but is not limited to, net unrealized holding gains (losses) on available-for-sale securities, accumulated net gains (losses) on cash flow hedges, cumulative foreign currency translation adjustments, and accumulated defined benefit pension and other postretirement plan adjustments.\"In other words, it was mostly unrealized losses on SVB's available-for-sale securities. The bank booked an estimated $1.8 billion loss when selling \"substantially all\" of these securities on March 8.The list of 10 banks with unfavorable interest margin trendsOn the regulatory call reports, AOCI is added to regulatory capital. Since SVB's AOCI was negative (because of its unrealized losses on AFS securities) as of Dec. 31, it lowered the company's total equity capital. So a fair way to gauge the negative AOCI to the bank's total equity capital would be to divide the negative AOCI by total equity capital less AOCI -- effectively adding the unrealized losses back to total equity capital for the calculation.Getting back to our list of 10 banks that raised similar red margin flags to those of SVB, here's the same group, in the same order, showing negative AOCI as a percentage of total equity capital as of Dec. 31. We have added SVB to the bottom of the list. The data was provided by FactSet:Ally Financial Inc. (ALLY) -- the third largest bank on the list by Dec. 31 total assets -- stands out as having the largest percentage of negative accumulated comprehensive income relative to total equity capital as of Dec. 31.To be sure, these numbers don't mean that a bank is in trouble, or that it will be forced to sell securities for big losses. But SVB had both a troubling pattern for its interest margins and what appeared to be a relatively high percentage of securities losses relative to capital as of Dec. 31.Banks with the highest percentage of negative AOCI to capitalThere are 108 banks in the Russell 3000 Index  that had total assets of at least $10.0 billion as of Dec. 31. FactSet provided AOCI and total equity capital data for 105 of them. Here are the 20 which had the highest ratios of negative AOCI to total equity capital less AOCI (as explained above) as of Dec. 31:Again, this is not to suggest that any particular bank on this list based on Dec. 31 data is facing the type of perfect storm that has hurt SVB Financial. A bank sitting on large paper losses on its AFS securities may not need to sell them. In fact Comerica Inc., which tops the list, also improved its interest margin the most over the past four quarters, as shown here.But it is interesting to note that Silvergate Capital Corp., which focused on serving clients in the virtual currency industry, made the list. It is shuttering its bank subsidiary voluntarily.Another bank on the list facing concern among depositors is Signature Bank of New York, which has a diverse business model, but has also faced a backlash related to the services it provides to the virtual currency industry. The bank’s shares fell 12% on Thursday and were down another 24% in afternoon trading on Friday.Signature Bank said in a statement that it was in a “strong, well-diversified financial position.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":48,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9954790624,"gmtCreate":1676607545668,"gmtModify":1676607676093,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Reddit famous for options traders flaunting their winnings. &nbsp;🤣","listText":"Reddit famous for options traders flaunting their winnings. &nbsp;🤣","text":"Reddit famous for options traders flaunting their winnings. 🤣","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954790624","repostId":"2312228194","repostType":4,"repost":{"id":"2312228194","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":1,"media_name":"Dow Jones","id":"1012688067","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1676604200,"share":"https://www.laohu8.com/m/news/2312228194?lang=&edition=full","pubTime":"2023-02-17 11:23","market":"us","language":"en","title":"The Popularity of These Risky Option Bets Has Wall Street on Edge","url":"https://stock-news.laohu8.com/highlight/detail?id=2312228194","media":"Dow Jones","summary":"Professional and amateur traders are flocking to a risky type of equity option that some have likene","content":"<html><head></head><body><p>Professional and amateur traders are flocking to a risky type of equity option that some have likened to lottery tickets, drawn by the opportunity to reap massive returns in the span of just a few hours.</p><p>They’re known as options with zero days until expiration, or “0DTEs.” Named because they have less than 24 hours left in their lifespans, traders see them as a way to place tactical bets around potentially market-moving events like economic data releases and Federal Reserve meetings.</p><p>Some on Wall Street are concerned that the growing popularity of 0DTEs is making U.S. markets more volatile and more fragile as outsize daily swings in the largest, most liquid equity indexes, like the S&amp;P 500, become more frequent.</p><p>Some are even concerned that they could contribute to a destabilizing blowup with far-reaching consequences for market stability.</p><h2>Trading volume soars as markets slump</h2><p>Call options are derivatives that allow users to buy an underlying asset at a certain price by a specific date; put options allow the user to sell at a certain price by a specific date. Options prices can see big swings as they near expiration.</p><p>According to data shared with MarketWatch by Cboe Global Markets, average daily trading volume in S&amp;P 500-linked 0DTEs surged in 2022 as U.S. stocks started to slide into a bear market from their record highs reached in January of that year.</p><p>During the first quarter of last year, 0DTEs represented just 22.5% of average daily trading volume in S&amp;P 500 options traded on the Cboe. By the end of the fourth quarter, that figure had risen to 44%. Paul Woolman, global head of equity index products at CME, said trading in 0DTEs has continued to climb in early 2023.</p><p>CME Group Inc. and Cboe, which run the two main options exchanges in the U.S., catered to the growing demand by offering options that expire every day of the week for some of the most popular U.S. equity indexes and ETFs. Representatives for both exchanges said they have plans to add daily expirations for more products this year.</p><p>Arianne Adams, senior vice president and head of derivatives and global client services at Cboe, said the exchange’s customers have been pushing for more daily expirations because they allow traders to be more “tactical” and “precise.”</p><h2>‘Picking up pennies in front of a steamroller’</h2><p>One reason 0DTEs have become so popular is that the trading strategies that worked when interest rates were at or near zero simply don’t anymore. A long-running period that had seen stocks generally move higher came to a halt last year, giving way to more wild swings in both directions. So traders looked for a new way to capitalize.</p><p>Ernie Varitimos, a trader who runs a Twitter account dedicated to trading 0DTEs, told MarketWatch that it’s this “asymmetric” risk that drew him to them.</p><p>“It’s a trade where I can take very small risk for a very large reward,” he said, in a phone interview.</p><p>The problem from a risk-management standpoint is that there are always two sides to a trade. When one trader buys an option, another sells. The risks for the buyer are capped because, at worst, the option would expire worthless, limiting the buyer’s loss to the premium paid.</p><p>The risks for unhedged sellers runs much higher. A person who sold a call option would be exposed to theoretically unlimited losses since there’s no limit on how high the price of the underlying asset can rise, while a person who sold a put could also see significant losses if the buyer exercises the option.</p><p>This creates serious risk-management problems for market makers and traders who sell the options, given their open-ended risk.</p><p>“It’s like picking up pennies in front of a steamroller,” said Charlie McElligott, managing director of cross-asset strategy and global equity derivatives at Nomura, about the risks associated with selling these options. McElligott has written extensively about 0DTEs and their impact on markets.</p><h2>‘Volmageddon 2.0’</h2><p>In a research note published Wednesday, JPMorgan’s Marko Kolanovic, one of the bank’s top equity strategists, warned that the rising popularity of 0DTEs could trigger “Volmageddon 2.0,” a reference to the February 2018 implosion of several esoteric volatility-linked products that spilled over into the broader market.</p><p>The Dow Jones Industrial Average plunged 1,175.21 points, or 4.6%, on Feb. 8, 2018. At that time, it was the biggest daily point drop for the Dow in history.</p><p>One problem as Kolanovic, McElligott and others explained it, is that 0DTEs are extremely “convex” — meaning small moves in the S&amp;P 500 can drive huge fluctuations in the value of these options. They can go from worthless to worth thousands of dollars per contract in a matter of minutes. Kolanovic didn’t return a request for comment.</p><p>Since they’re so close to the end of their lifespans, risk-management models suggest these options typically have only a small probability of trading “in the money” — trader parlance meaning the underlying asset is above the strike price in the case of a call, or below the strike price in the case of a put.</p><p>This makes the exposure very difficult for market makers and traders to hedge.</p><p>In his Wednesday note, Kolanovic said the average daily exposure tied to 0DTEs has swelled to more than $1 trillion, but market makers are likely only prepared for some of these bets to pay off on any given day.</p><p>Market makers play an important role in helping markets to function. Their business is providing liquidity — in this case, that means taking the opposite side of the trade from customers who are looking to either buy or sell an option. Often, they try to limit any potential losses by hedging some of their risk, buying or selling the underlying stock or stock-index futures.</p><p>The fear is that if U.S. stocks experience a particularly sharp and unexpected move, the volume of 0DTE options suddenly trading in the money might overwhelm these hedges, causing a flash crash or a sudden destabilizing surge.</p><p>“We haven’t seen the systemic risks present themselves yet, but there’s a concern that if you have a big daily swing, like what we saw during March 2020, that we really don’t know how the market-making mechanism is going to react,” said Garrett DeSimone, head of quantitative research at OptionMetrics, which provides data and analytics about the options market.</p><h2>Who trades options?</h2><p>Institutional traders are by far the biggest users of these products. Data from JPMorgan Chase &amp; Co.          JPM,-1.24%shows retail investors account for just 5.6% of overall trading in 0DTEs.</p><p>But evidence of the profits and pitfalls of small-time traders buying and shorting — or betting against — 0DTEs is plastered across Wall Street Bets, a Reddit forum where traders go to brag about their profits and commiserate about their losses.</p><p>In one post from mid-February, a trader using the handle “Pizza_n_tendies” shared a screenshot from their brokerage account showing they made roughly $6,000 in just over an hour after betting about $3,500 on weekly puts tied to the SPDR S&amp;P 500 ETF,          SPY,-0.96%a popular equity exchange-traded fund.</p><p>Back in December, a user with the screen name “livelearnplay” shared a screenshot from a <a href=\"https://laohu8.com/S/HOOD\">Robinhood</a> account showing they made roughly $100,000 in a single day using 0DTE puts on the SPY , which tracks the S&amp;P 500 index. Others have shared evidence of massive swings in the value of their portfolios as they pursued the strategy over a period of weeks or months.</p><p>MarketWatch reached out to both of these accounts, as well as about a dozen others that had shared the results of their trading in 0DTEs. Most never responded. One replied with a simple “hahaha” while another demanded “proof” of credentials before going dark.</p><h2>‘A game of ping pong’</h2><p>There are already signs that trading in short-dated options may be leading to more outsize intraday swings in markets, said Brent Kochuba, the founder of options analytics service SpotGamma.</p><p>The S&amp;P 500 recorded 122 daily moves of 1% or greater in either direction last year, the most since 2008 and nearly double the 20-year average of 65.6, according to Dow Jones Market Data. This trend has continued in 2023, as the S&amp;P 500 has already seen 15 moves of 1% or more in either direction, the most for the start of a year since 2016.</p><p>One memorable example occurred on Oct. 13, when trading in 0DTEs and other near-expiry options helped to trigger a historic intraday turnaround in U.S. stocks.</p><p>On that day, the Dow fell just shy of 550 points, or 1.9%, following the release of the September consumer-price index report. Then, on seemingly no news, stocks suddenly rocketed higher. When the dust finally settled, the blue-chip gauge had finished the session up 827.87 points, or 2.8%, at 30,038.72 — a historic intraday swing that Kochuba said was exaggerated by a surge in buying of call options.</p><p>“People will sell calls and buy puts at the highs, and then they’ll flip that at the lows,” Kochuba said. “It creates a game of Ping-Pong.”</p><h2>Exchanges play down risks</h2><p>Representatives for both Cboe and CME pushed back against claims that these products are making markets more volatile.</p><p>“There is nothing conclusive about same-day options trading leading to increased market volatility,” said a Cboe spokesperson in an email to MarketWatch.</p><p>But CME’s Woolman said the exchanges aren’t really in a position to comment on the potential risks, since they’re not the ones responsible for managing it.</p><p>“It’s harder for us to comment on how this is actually impacting the market because we’re not managing the risk,” Woolman said.</p><p>MarketWatch reached out to several options market makers including Optiver, Akuna Capital and Citadel Securities. Optiver declined to comment. Akuna and Citadel didn’t return requests for comment.</p><p>During a discussion about the potential consequences of this trend, Nomura’s McElligott told MarketWatch he would be “shocked” if regulators weren’t already trying to gauge the systemic risks tied to these products.</p><p>MarketWatch reached out to the Securities and Exchange Commission and Commodity Futures Trading Commission for comment, but didn’t receive a response. A representative for the Federal Reserve’s markets group, another markets regulator, declined to comment.</p><p>The big worry surrounding 0DTEs is that they can amplify market swings, potentially triggering a downward, or upward, spiral.</p><p>“With daily expirations, each day is it’s own ecosystem. Selloffs can be exacerbated. Rallies can be fed into,” McElligott said. “We don’t really understand where the risk goes.”</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Popularity of These Risky Option Bets Has Wall Street on Edge</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Popularity of These Risky Option Bets Has Wall Street on Edge\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1012688067\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-02-17 11:23</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Professional and amateur traders are flocking to a risky type of equity option that some have likened to lottery tickets, drawn by the opportunity to reap massive returns in the span of just a few hours.</p><p>They’re known as options with zero days until expiration, or “0DTEs.” Named because they have less than 24 hours left in their lifespans, traders see them as a way to place tactical bets around potentially market-moving events like economic data releases and Federal Reserve meetings.</p><p>Some on Wall Street are concerned that the growing popularity of 0DTEs is making U.S. markets more volatile and more fragile as outsize daily swings in the largest, most liquid equity indexes, like the S&amp;P 500, become more frequent.</p><p>Some are even concerned that they could contribute to a destabilizing blowup with far-reaching consequences for market stability.</p><h2>Trading volume soars as markets slump</h2><p>Call options are derivatives that allow users to buy an underlying asset at a certain price by a specific date; put options allow the user to sell at a certain price by a specific date. Options prices can see big swings as they near expiration.</p><p>According to data shared with MarketWatch by Cboe Global Markets, average daily trading volume in S&amp;P 500-linked 0DTEs surged in 2022 as U.S. stocks started to slide into a bear market from their record highs reached in January of that year.</p><p>During the first quarter of last year, 0DTEs represented just 22.5% of average daily trading volume in S&amp;P 500 options traded on the Cboe. By the end of the fourth quarter, that figure had risen to 44%. Paul Woolman, global head of equity index products at CME, said trading in 0DTEs has continued to climb in early 2023.</p><p>CME Group Inc. and Cboe, which run the two main options exchanges in the U.S., catered to the growing demand by offering options that expire every day of the week for some of the most popular U.S. equity indexes and ETFs. Representatives for both exchanges said they have plans to add daily expirations for more products this year.</p><p>Arianne Adams, senior vice president and head of derivatives and global client services at Cboe, said the exchange’s customers have been pushing for more daily expirations because they allow traders to be more “tactical” and “precise.”</p><h2>‘Picking up pennies in front of a steamroller’</h2><p>One reason 0DTEs have become so popular is that the trading strategies that worked when interest rates were at or near zero simply don’t anymore. A long-running period that had seen stocks generally move higher came to a halt last year, giving way to more wild swings in both directions. So traders looked for a new way to capitalize.</p><p>Ernie Varitimos, a trader who runs a Twitter account dedicated to trading 0DTEs, told MarketWatch that it’s this “asymmetric” risk that drew him to them.</p><p>“It’s a trade where I can take very small risk for a very large reward,” he said, in a phone interview.</p><p>The problem from a risk-management standpoint is that there are always two sides to a trade. When one trader buys an option, another sells. The risks for the buyer are capped because, at worst, the option would expire worthless, limiting the buyer’s loss to the premium paid.</p><p>The risks for unhedged sellers runs much higher. A person who sold a call option would be exposed to theoretically unlimited losses since there’s no limit on how high the price of the underlying asset can rise, while a person who sold a put could also see significant losses if the buyer exercises the option.</p><p>This creates serious risk-management problems for market makers and traders who sell the options, given their open-ended risk.</p><p>“It’s like picking up pennies in front of a steamroller,” said Charlie McElligott, managing director of cross-asset strategy and global equity derivatives at Nomura, about the risks associated with selling these options. McElligott has written extensively about 0DTEs and their impact on markets.</p><h2>‘Volmageddon 2.0’</h2><p>In a research note published Wednesday, JPMorgan’s Marko Kolanovic, one of the bank’s top equity strategists, warned that the rising popularity of 0DTEs could trigger “Volmageddon 2.0,” a reference to the February 2018 implosion of several esoteric volatility-linked products that spilled over into the broader market.</p><p>The Dow Jones Industrial Average plunged 1,175.21 points, or 4.6%, on Feb. 8, 2018. At that time, it was the biggest daily point drop for the Dow in history.</p><p>One problem as Kolanovic, McElligott and others explained it, is that 0DTEs are extremely “convex” — meaning small moves in the S&amp;P 500 can drive huge fluctuations in the value of these options. They can go from worthless to worth thousands of dollars per contract in a matter of minutes. Kolanovic didn’t return a request for comment.</p><p>Since they’re so close to the end of their lifespans, risk-management models suggest these options typically have only a small probability of trading “in the money” — trader parlance meaning the underlying asset is above the strike price in the case of a call, or below the strike price in the case of a put.</p><p>This makes the exposure very difficult for market makers and traders to hedge.</p><p>In his Wednesday note, Kolanovic said the average daily exposure tied to 0DTEs has swelled to more than $1 trillion, but market makers are likely only prepared for some of these bets to pay off on any given day.</p><p>Market makers play an important role in helping markets to function. Their business is providing liquidity — in this case, that means taking the opposite side of the trade from customers who are looking to either buy or sell an option. Often, they try to limit any potential losses by hedging some of their risk, buying or selling the underlying stock or stock-index futures.</p><p>The fear is that if U.S. stocks experience a particularly sharp and unexpected move, the volume of 0DTE options suddenly trading in the money might overwhelm these hedges, causing a flash crash or a sudden destabilizing surge.</p><p>“We haven’t seen the systemic risks present themselves yet, but there’s a concern that if you have a big daily swing, like what we saw during March 2020, that we really don’t know how the market-making mechanism is going to react,” said Garrett DeSimone, head of quantitative research at OptionMetrics, which provides data and analytics about the options market.</p><h2>Who trades options?</h2><p>Institutional traders are by far the biggest users of these products. Data from JPMorgan Chase &amp; Co.          JPM,-1.24%shows retail investors account for just 5.6% of overall trading in 0DTEs.</p><p>But evidence of the profits and pitfalls of small-time traders buying and shorting — or betting against — 0DTEs is plastered across Wall Street Bets, a Reddit forum where traders go to brag about their profits and commiserate about their losses.</p><p>In one post from mid-February, a trader using the handle “Pizza_n_tendies” shared a screenshot from their brokerage account showing they made roughly $6,000 in just over an hour after betting about $3,500 on weekly puts tied to the SPDR S&amp;P 500 ETF,          SPY,-0.96%a popular equity exchange-traded fund.</p><p>Back in December, a user with the screen name “livelearnplay” shared a screenshot from a <a href=\"https://laohu8.com/S/HOOD\">Robinhood</a> account showing they made roughly $100,000 in a single day using 0DTE puts on the SPY , which tracks the S&amp;P 500 index. Others have shared evidence of massive swings in the value of their portfolios as they pursued the strategy over a period of weeks or months.</p><p>MarketWatch reached out to both of these accounts, as well as about a dozen others that had shared the results of their trading in 0DTEs. Most never responded. One replied with a simple “hahaha” while another demanded “proof” of credentials before going dark.</p><h2>‘A game of ping pong’</h2><p>There are already signs that trading in short-dated options may be leading to more outsize intraday swings in markets, said Brent Kochuba, the founder of options analytics service SpotGamma.</p><p>The S&amp;P 500 recorded 122 daily moves of 1% or greater in either direction last year, the most since 2008 and nearly double the 20-year average of 65.6, according to Dow Jones Market Data. This trend has continued in 2023, as the S&amp;P 500 has already seen 15 moves of 1% or more in either direction, the most for the start of a year since 2016.</p><p>One memorable example occurred on Oct. 13, when trading in 0DTEs and other near-expiry options helped to trigger a historic intraday turnaround in U.S. stocks.</p><p>On that day, the Dow fell just shy of 550 points, or 1.9%, following the release of the September consumer-price index report. Then, on seemingly no news, stocks suddenly rocketed higher. When the dust finally settled, the blue-chip gauge had finished the session up 827.87 points, or 2.8%, at 30,038.72 — a historic intraday swing that Kochuba said was exaggerated by a surge in buying of call options.</p><p>“People will sell calls and buy puts at the highs, and then they’ll flip that at the lows,” Kochuba said. “It creates a game of Ping-Pong.”</p><h2>Exchanges play down risks</h2><p>Representatives for both Cboe and CME pushed back against claims that these products are making markets more volatile.</p><p>“There is nothing conclusive about same-day options trading leading to increased market volatility,” said a Cboe spokesperson in an email to MarketWatch.</p><p>But CME’s Woolman said the exchanges aren’t really in a position to comment on the potential risks, since they’re not the ones responsible for managing it.</p><p>“It’s harder for us to comment on how this is actually impacting the market because we’re not managing the risk,” Woolman said.</p><p>MarketWatch reached out to several options market makers including Optiver, Akuna Capital and Citadel Securities. Optiver declined to comment. Akuna and Citadel didn’t return requests for comment.</p><p>During a discussion about the potential consequences of this trend, Nomura’s McElligott told MarketWatch he would be “shocked” if regulators weren’t already trying to gauge the systemic risks tied to these products.</p><p>MarketWatch reached out to the Securities and Exchange Commission and Commodity Futures Trading Commission for comment, but didn’t receive a response. A representative for the Federal Reserve’s markets group, another markets regulator, declined to comment.</p><p>The big worry surrounding 0DTEs is that they can amplify market swings, potentially triggering a downward, or upward, spiral.</p><p>“With daily expirations, each day is it’s own ecosystem. Selloffs can be exacerbated. Rallies can be fed into,” McElligott said. “We don’t really understand where the risk goes.”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQQQ":"纳指三倍做空ETF","SPY":"标普500ETF","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2312228194","content_text":"Professional and amateur traders are flocking to a risky type of equity option that some have likened to lottery tickets, drawn by the opportunity to reap massive returns in the span of just a few hours.They’re known as options with zero days until expiration, or “0DTEs.” Named because they have less than 24 hours left in their lifespans, traders see them as a way to place tactical bets around potentially market-moving events like economic data releases and Federal Reserve meetings.Some on Wall Street are concerned that the growing popularity of 0DTEs is making U.S. markets more volatile and more fragile as outsize daily swings in the largest, most liquid equity indexes, like the S&P 500, become more frequent.Some are even concerned that they could contribute to a destabilizing blowup with far-reaching consequences for market stability.Trading volume soars as markets slumpCall options are derivatives that allow users to buy an underlying asset at a certain price by a specific date; put options allow the user to sell at a certain price by a specific date. Options prices can see big swings as they near expiration.According to data shared with MarketWatch by Cboe Global Markets, average daily trading volume in S&P 500-linked 0DTEs surged in 2022 as U.S. stocks started to slide into a bear market from their record highs reached in January of that year.During the first quarter of last year, 0DTEs represented just 22.5% of average daily trading volume in S&P 500 options traded on the Cboe. By the end of the fourth quarter, that figure had risen to 44%. Paul Woolman, global head of equity index products at CME, said trading in 0DTEs has continued to climb in early 2023.CME Group Inc. and Cboe, which run the two main options exchanges in the U.S., catered to the growing demand by offering options that expire every day of the week for some of the most popular U.S. equity indexes and ETFs. Representatives for both exchanges said they have plans to add daily expirations for more products this year.Arianne Adams, senior vice president and head of derivatives and global client services at Cboe, said the exchange’s customers have been pushing for more daily expirations because they allow traders to be more “tactical” and “precise.”‘Picking up pennies in front of a steamroller’One reason 0DTEs have become so popular is that the trading strategies that worked when interest rates were at or near zero simply don’t anymore. A long-running period that had seen stocks generally move higher came to a halt last year, giving way to more wild swings in both directions. So traders looked for a new way to capitalize.Ernie Varitimos, a trader who runs a Twitter account dedicated to trading 0DTEs, told MarketWatch that it’s this “asymmetric” risk that drew him to them.“It’s a trade where I can take very small risk for a very large reward,” he said, in a phone interview.The problem from a risk-management standpoint is that there are always two sides to a trade. When one trader buys an option, another sells. The risks for the buyer are capped because, at worst, the option would expire worthless, limiting the buyer’s loss to the premium paid.The risks for unhedged sellers runs much higher. A person who sold a call option would be exposed to theoretically unlimited losses since there’s no limit on how high the price of the underlying asset can rise, while a person who sold a put could also see significant losses if the buyer exercises the option.This creates serious risk-management problems for market makers and traders who sell the options, given their open-ended risk.“It’s like picking up pennies in front of a steamroller,” said Charlie McElligott, managing director of cross-asset strategy and global equity derivatives at Nomura, about the risks associated with selling these options. McElligott has written extensively about 0DTEs and their impact on markets.‘Volmageddon 2.0’In a research note published Wednesday, JPMorgan’s Marko Kolanovic, one of the bank’s top equity strategists, warned that the rising popularity of 0DTEs could trigger “Volmageddon 2.0,” a reference to the February 2018 implosion of several esoteric volatility-linked products that spilled over into the broader market.The Dow Jones Industrial Average plunged 1,175.21 points, or 4.6%, on Feb. 8, 2018. At that time, it was the biggest daily point drop for the Dow in history.One problem as Kolanovic, McElligott and others explained it, is that 0DTEs are extremely “convex” — meaning small moves in the S&P 500 can drive huge fluctuations in the value of these options. They can go from worthless to worth thousands of dollars per contract in a matter of minutes. Kolanovic didn’t return a request for comment.Since they’re so close to the end of their lifespans, risk-management models suggest these options typically have only a small probability of trading “in the money” — trader parlance meaning the underlying asset is above the strike price in the case of a call, or below the strike price in the case of a put.This makes the exposure very difficult for market makers and traders to hedge.In his Wednesday note, Kolanovic said the average daily exposure tied to 0DTEs has swelled to more than $1 trillion, but market makers are likely only prepared for some of these bets to pay off on any given day.Market makers play an important role in helping markets to function. Their business is providing liquidity — in this case, that means taking the opposite side of the trade from customers who are looking to either buy or sell an option. Often, they try to limit any potential losses by hedging some of their risk, buying or selling the underlying stock or stock-index futures.The fear is that if U.S. stocks experience a particularly sharp and unexpected move, the volume of 0DTE options suddenly trading in the money might overwhelm these hedges, causing a flash crash or a sudden destabilizing surge.“We haven’t seen the systemic risks present themselves yet, but there’s a concern that if you have a big daily swing, like what we saw during March 2020, that we really don’t know how the market-making mechanism is going to react,” said Garrett DeSimone, head of quantitative research at OptionMetrics, which provides data and analytics about the options market.Who trades options?Institutional traders are by far the biggest users of these products. Data from JPMorgan Chase & Co.          JPM,-1.24%shows retail investors account for just 5.6% of overall trading in 0DTEs.But evidence of the profits and pitfalls of small-time traders buying and shorting — or betting against — 0DTEs is plastered across Wall Street Bets, a Reddit forum where traders go to brag about their profits and commiserate about their losses.In one post from mid-February, a trader using the handle “Pizza_n_tendies” shared a screenshot from their brokerage account showing they made roughly $6,000 in just over an hour after betting about $3,500 on weekly puts tied to the SPDR S&P 500 ETF,          SPY,-0.96%a popular equity exchange-traded fund.Back in December, a user with the screen name “livelearnplay” shared a screenshot from a Robinhood account showing they made roughly $100,000 in a single day using 0DTE puts on the SPY , which tracks the S&P 500 index. Others have shared evidence of massive swings in the value of their portfolios as they pursued the strategy over a period of weeks or months.MarketWatch reached out to both of these accounts, as well as about a dozen others that had shared the results of their trading in 0DTEs. Most never responded. One replied with a simple “hahaha” while another demanded “proof” of credentials before going dark.‘A game of ping pong’There are already signs that trading in short-dated options may be leading to more outsize intraday swings in markets, said Brent Kochuba, the founder of options analytics service SpotGamma.The S&P 500 recorded 122 daily moves of 1% or greater in either direction last year, the most since 2008 and nearly double the 20-year average of 65.6, according to Dow Jones Market Data. This trend has continued in 2023, as the S&P 500 has already seen 15 moves of 1% or more in either direction, the most for the start of a year since 2016.One memorable example occurred on Oct. 13, when trading in 0DTEs and other near-expiry options helped to trigger a historic intraday turnaround in U.S. stocks.On that day, the Dow fell just shy of 550 points, or 1.9%, following the release of the September consumer-price index report. Then, on seemingly no news, stocks suddenly rocketed higher. When the dust finally settled, the blue-chip gauge had finished the session up 827.87 points, or 2.8%, at 30,038.72 — a historic intraday swing that Kochuba said was exaggerated by a surge in buying of call options.“People will sell calls and buy puts at the highs, and then they’ll flip that at the lows,” Kochuba said. “It creates a game of Ping-Pong.”Exchanges play down risksRepresentatives for both Cboe and CME pushed back against claims that these products are making markets more volatile.“There is nothing conclusive about same-day options trading leading to increased market volatility,” said a Cboe spokesperson in an email to MarketWatch.But CME’s Woolman said the exchanges aren’t really in a position to comment on the potential risks, since they’re not the ones responsible for managing it.“It’s harder for us to comment on how this is actually impacting the market because we’re not managing the risk,” Woolman said.MarketWatch reached out to several options market makers including Optiver, Akuna Capital and Citadel Securities. Optiver declined to comment. Akuna and Citadel didn’t return requests for comment.During a discussion about the potential consequences of this trend, Nomura’s McElligott told MarketWatch he would be “shocked” if regulators weren’t already trying to gauge the systemic risks tied to these products.MarketWatch reached out to the Securities and Exchange Commission and Commodity Futures Trading Commission for comment, but didn’t receive a response. A representative for the Federal Reserve’s markets group, another markets regulator, declined to comment.The big worry surrounding 0DTEs is that they can amplify market swings, potentially triggering a downward, or upward, spiral.“With daily expirations, each day is it’s own ecosystem. Selloffs can be exacerbated. Rallies can be fed into,” McElligott said. “We don’t really understand where the risk goes.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":37,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9956607253,"gmtCreate":1673976278173,"gmtModify":1676538911738,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Invest safe. We are not out of the woods yet","listText":"Invest safe. We are not out of the woods yet","text":"Invest safe. We are not out of the woods yet","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956607253","isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9956920505,"gmtCreate":1673884881408,"gmtModify":1676538898787,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Invest safe for 2023","listText":"Invest safe for 2023","text":"Invest safe for 2023","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956920505","isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9958428382,"gmtCreate":1673801454046,"gmtModify":1676538887760,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Invest safe for 2023","listText":"Invest safe for 2023","text":"Invest safe for 2023","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9958428382","isVote":1,"tweetType":1,"viewCount":147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9958637254,"gmtCreate":1673712410979,"gmtModify":1676538877616,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Invest safe And have a good 2023 investment year&nbsp;","listText":"Invest safe And have a good 2023 investment year&nbsp;","text":"Invest safe And have a good 2023 investment year","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9958637254","isVote":1,"tweetType":1,"viewCount":160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9958397089,"gmtCreate":1673626271344,"gmtModify":1676538867418,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Rally comes, invest safe","listText":"Rally comes, invest safe","text":"Rally comes, invest safe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9958397089","isVote":1,"tweetType":1,"viewCount":69,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9951840722,"gmtCreate":1673453471767,"gmtModify":1676538839891,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Invest safe","listText":"Invest safe","text":"Invest safe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9951840722","isVote":1,"tweetType":1,"viewCount":53,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9951108258,"gmtCreate":1673410714974,"gmtModify":1676538832547,"author":{"id":"3572267605406030","authorId":"3572267605406030","name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0},"themes":[],"htmlText":"Thought miss woody say will reach $3000 in2022. :(","listText":"Thought miss woody say will reach $3000 in2022. :(","text":"Thought miss woody say will reach $3000 in2022. :(","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9951108258","repostId":"1169268846","repostType":4,"repost":{"id":"1169268846","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1673402121,"share":"https://www.laohu8.com/m/news/1169268846?lang=&edition=full","pubTime":"2023-01-11 09:55","market":"us","language":"en","title":"Cathie Wood Makes Whopping $12M Buy In Tesla Stock — Offloads Xpeng For 3rd Straight Day","url":"https://stock-news.laohu8.com/highlight/detail?id=1169268846","media":"Benzinga","summary":"Cathie Wood-led ARK Investment Management bought a whopping 100,982 shares of Tesla Inc on Tuesday a","content":"<html><head></head><body><p><b>Cathie Wood</b>-led <b>ARK Investment Management</b> bought a whopping 100,982 shares of <b>Tesla Inc</b> on Tuesday at an estimated valuation of over $12 million based on Tuesday’s closing price, taking its cumulative purchase of the EV maker&#39;s stock this year to about 384,000 shares.</p><p>The purchase was done through the<b>ARK Innovation ETF</b> (ARKK) and the <b>ARK Autonomous Tech. &amp; Robotics ETF</b> (ARKQ).</p><p>Shares of Tesla closed 0.77% lower on Tuesday. The company has applied to expand its Gigafactory in Texas with a total investment of $775.7 million, one of its largest expansion drives since it set up the $5.5 billion Gigafactory in Germany, Reuters reported citing government filings.</p><p>ARK’s cumulative purchases of Tesla since mid-December amount to over 860,000 shares. The fund’s 2026 price target for the stock would be about $500 per share, based on its EV business alone, the firm’s analyst <b>Tasha Keeney</b> said. The projection is adjusted for the 3-for-1 stock split that became effective on Aug. 25, 2022.</p><p><b>Major Sale</b>: ARK continued to offload shares of Chinese EV-maker <b>Xpeng Inc</b> for the third straight day. The <b>ARK Autonomous Tech. &amp; Robotics ETF</b> sold 339,543 shares of the company on Tuesday at an estimated valuation of over $3.4 million. ARK had sold 111,173 shares of the company on Monday while offloading over 169,000 shares of the EV-maker on Friday last week.</p><p>Shares of Xpeng have lost over 4% in the last five days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Makes Whopping $12M Buy In Tesla Stock — Offloads Xpeng For 3rd Straight Day</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Makes Whopping $12M Buy In Tesla Stock — Offloads Xpeng For 3rd Straight Day\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2023-01-11 09:55</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><b>Cathie Wood</b>-led <b>ARK Investment Management</b> bought a whopping 100,982 shares of <b>Tesla Inc</b> on Tuesday at an estimated valuation of over $12 million based on Tuesday’s closing price, taking its cumulative purchase of the EV maker&#39;s stock this year to about 384,000 shares.</p><p>The purchase was done through the<b>ARK Innovation ETF</b> (ARKK) and the <b>ARK Autonomous Tech. &amp; Robotics ETF</b> (ARKQ).</p><p>Shares of Tesla closed 0.77% lower on Tuesday. The company has applied to expand its Gigafactory in Texas with a total investment of $775.7 million, one of its largest expansion drives since it set up the $5.5 billion Gigafactory in Germany, Reuters reported citing government filings.</p><p>ARK’s cumulative purchases of Tesla since mid-December amount to over 860,000 shares. The fund’s 2026 price target for the stock would be about $500 per share, based on its EV business alone, the firm’s analyst <b>Tasha Keeney</b> said. The projection is adjusted for the 3-for-1 stock split that became effective on Aug. 25, 2022.</p><p><b>Major Sale</b>: ARK continued to offload shares of Chinese EV-maker <b>Xpeng Inc</b> for the third straight day. The <b>ARK Autonomous Tech. &amp; Robotics ETF</b> sold 339,543 shares of the company on Tuesday at an estimated valuation of over $3.4 million. ARK had sold 111,173 shares of the company on Monday while offloading over 169,000 shares of the EV-maker on Friday last week.</p><p>Shares of Xpeng have lost over 4% in the last five days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","TSLA":"特斯拉","ARKK":"ARK Innovation ETF","ARKQ":"ARK Autonomous Technology & Robotics ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169268846","content_text":"Cathie Wood-led ARK Investment Management bought a whopping 100,982 shares of Tesla Inc on Tuesday at an estimated valuation of over $12 million based on Tuesday’s closing price, taking its cumulative purchase of the EV maker's stock this year to about 384,000 shares.The purchase was done through theARK Innovation ETF (ARKK) and the ARK Autonomous Tech. & Robotics ETF (ARKQ).Shares of Tesla closed 0.77% lower on Tuesday. The company has applied to expand its Gigafactory in Texas with a total investment of $775.7 million, one of its largest expansion drives since it set up the $5.5 billion Gigafactory in Germany, Reuters reported citing government filings.ARK’s cumulative purchases of Tesla since mid-December amount to over 860,000 shares. The fund’s 2026 price target for the stock would be about $500 per share, based on its EV business alone, the firm’s analyst Tasha Keeney said. The projection is adjusted for the 3-for-1 stock split that became effective on Aug. 25, 2022.Major Sale: ARK continued to offload shares of Chinese EV-maker Xpeng Inc for the third straight day. The ARK Autonomous Tech. & Robotics ETF sold 339,543 shares of the company on Tuesday at an estimated valuation of over $3.4 million. ARK had sold 111,173 shares of the company on Monday while offloading over 169,000 shares of the EV-maker on Friday last week.Shares of Xpeng have lost over 4% in the last five days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[],"lives":[]}