@conorsen There are currently 3 2x SNDK listed in the US (SNXX most liquid by far), also a -2x (SNDQ) from the same issuer. The marginal cost of creating new single name ETFs seems like it’s pretty close to 0. Tons of them out there now.
@staysaasy Ultimately ends up with businesses believing "process" can make up for individual contribution. Any high agency employee is gonna run like hell once they see their employer start trying to do time tracking in JIRA.
@inboundike I get not wanting to fine people doing 31 in a 30 but can we please keep going after the real psychos. Doesnt seem like it should be controversial.
@pshufb Claude seems to know how to look at indexes and use EXPLAIN ANALYZE. Also query performance is very measurable, so the llms can just do the thing where they just try a bunch of different appproaches to see which one is empirically fastest.
@LJKawa The hubris element is also interesting. The warrants are series K, series A, series Z: KAZ. It's a dilutive vanity project from the CEO not some master class in financial engineering.
@LJKawa The value of the dividend is knowable. The stock will drop by that amount overnight ex-div. The shorts will use that pnl to buy back the warrants, and in the medium term the pressure from dealer hedging everyone selling their weird warrants may actually be pressure on the stock.
@LJKawa That's going to happen whether it's a cash dividend or the warrants. The value of the warrants is knowable, it can be interpolated from nearby listed option strikes/expirations. Shorts will have to go buy them, which is annoying, but not really a nightmare.
@LJKawa This analysis is bad and wrong. When any stock goes ex-dividend, the price drops by the equivalent value of the dividend overnight (otherwise it’s just the market giving you free money, which is not really something markets do).
@dampedspring@macrocephalopod@JaredKubin The implicit belief here is that count of levered etf listings is the same as (or at least proportional to) total levered single name etf assets which seems questionable with multiple identical products from different ETF providers, and many products that never get any traction.
@bgurley Agree with you completely on auction mechanism, but that technology does exist currently on listing exchanges. That’s why the opening print was for 5M shares. Auction book built up all morning then opens on one large single price trade before continuous trading begins.
@bgurley Realistically tokenization is a settlement technology, not a trading technology. If the SEC wants to loosen standards on equity issuance they could just do that, without requiring changes to how the shares settle. Orthogonal problems IMO.