David Wright

Dad, Investor and Businessman

[Mohamed A. El-Erian @elerianm]

The Blue Owl headlines and the equity market told different stories today:
While most of the headlines focused almost exclusively on Blue Owl facing "billions in redemptions" and imposing caps (see two of the three examples below, with the third being a rare exception today), the market told a different story, with the stock jumping more than 4% (Bloomberg chart below).
Why? I suspect it’s because the market looked ahead, focusing on lower redemption requests, as well as no new defaults and no forced asset sales.
#markets #economy #investors $OWL #PrivateCredit #investing

[David Wright @davidwright54]

@orrdavid Sounds like my getaways.

[David Wright @davidwright54]

$270M total flow, 82% puts ($222M vs $48M calls), a flagged “spike” at 3:09 PM, and a Top 12 dominated by multi-million-dollar PUT prints. On a naive read that screams someone loading up bearish

Look at the strikes and expiry. Every one of those big prints is a PUT struck at $140, $145, $150, $160 — with BABA trading $112.26 and expiring June 18 (3 DTE)

Deep-ITM puts this close to expiry carry delta near -1 and almost no convexity — they behave like short stock, not like a leveraged crash bet. Nobody betting BABA collapses 25-40% in three sessions buys $160 puts; they’d buy cheap OTM puts for the gamma. The huge dollar value is just intrinsic, not size or conviction. The $18.16M $150P is only ~4,800 contracts (~$3,800 premium each), not some monster position.

Every print is stamped at the identical millisecond — 15:09:24.467. That’s not 12 traders independently turning bearish; it’s one institutional package hitting the tape at once. Deep-ITM, same-timestamp, multiple adjacent strikes is the classic signature of a financing/arbitrage structure (reversal/conversion or box), a stock-tied synthetic, or a roll/unwind of an existing position — mechanical, not a view.

[Elon Musk @elonmusk]

The level of fraud here is mind-blowing

[David Wright @davidwright54]

@santhonys Well done. Good analysis.

[David Wright @davidwright54]

@tickflowapp CORRECTION: Forward dividend is .92/share Yield: 10.94%

[David Wright @davidwright54]

@OfcMarshmallow @CorneliaLake @brazmass13 Yup, that’s the ticket.

[David Wright @davidwright54]

@jimcramer Have the CEO’s on Mad Money… Lipschultz, Rowan, Aroughetti and Nuttal all at once! Fireside chat style.

[David Wright @davidwright54]

@ahern_brendan Leak on a Friday afternoon 🤔

[David Wright @davidwright54]

@CGasparino @ZohranKMamdani Your people are the problem. Your voters. They will get to eat their own cooking. That’s life. Ask the East Germans 50 years ago how that worked for them. Welcome to NYC.

[David Wright @davidwright54]

@capybaraReborn 💯

[David Wright @davidwright54]

@ahern_brendan 🤣🤣🤣

[David Wright @davidwright54]

@carsonunderwood 💯

[Elon Musk @elonmusk]

Department of Government Efficiency

[Oaktree @Oaktree]

We’re excited to announce the upcoming release of a new video course, “How to Think About Risk with Howard Marks.” The series will be available on Oaktree’s website and YouTube channel on September 12.

Preview the introduction here:

[Thomas (Tom) Lee (not drummer) FundstratDirect.com @fundstrat]

Very impressive write up of $PYPL
👇

@derekquick1

[CNBCOvertime @CNBCOvertime]

Charlie Munger in final CNBC interview: You've got to learn how to recognize rare opportunities when they come
@BeckyQuick @JonFortt
https://t.co/QYUWntkx9G

[David Wright @davidwright54]

@Allbirds Joey - your stock is down 98% your CFO is gone. You went to Wharton - fine. Good place. You’ve failed your investors. What do you think is the -right - next move?

[David Wright @davidwright54]

@Allbirds I know y’all sidelined TB. I think that’s the wrong move. Sideline JZ. I hope the board sees this ~ L Catterton. 💯

[David Wright @davidwright54]

@Allbirds JZ - how would you rate your performance? TB - is this what you wanted?