WallStreetBets vs WallStreet: It's not about the money anymore

Re:WallStreetBets vs WallStreet: It's not about the money an... by dcolkitt on Thursday January 28, 2021 @10:50AM (#25943733)

GME has been trading at $2 spreads. SPY trades at $0.01 spreads.

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Re:WallStreetBets vs WallStreet: It's not about the money an... by chollida1 on Thursday January 28, 2021 @11:14AM (#25944147)

Fully aware

I’m in the industry. I stand by what I said:)

You said something that was flagrantly wrong, I’m just trying to help correct you.

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Re:WallStreetBets vs WallStreet: It's not about the money an... by dcolkitt on Thursday January 28, 2021 @11:42AM (#25944568)

I’m in the industry too.

Average PnL per share traded for a firm doing okay is about $0.001. A decent size firm might do 4% of ADV. Tape A trades about 1.5 billion shares per day. That’s 21 million annual trading revenue.

GME traded 1 billion shares in the past week. PnL per share has been averaging close to $0.40. At 6% ADV (HFT market share spikes during volatile periods), that’s 24 million in revenue.

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