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A comment on Class Action Lawsuit Filed Against Robinhood. Parent comment

Re:Class Action Lawsuit Filed Against Robinhood by u10 on Thursday January 28, 2021 @06:16PM (#25950918)
Citadel has two main arms; Citadel Securities which is a market maker, and Citadel, which is their investment arm.

I don't think you understand how the options market work. Several of the large spikes on Friday and the past week is the result of MM (like Citadel Securities) having to purchase shares to cover the naked calls they sold.

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Re:Class Action Lawsuit Filed Against Robinhood by threedots on Thursday January 28, 2021 @06:23PM (#25950988)
I'm well aware of how citadel is structured thanks, I used to work there.

If you think options dealers go around taking massive unhedged directional bets then you are very misinformed. I don't have any inside knowledge but i'd bet a pound to a penny the options desks have been making out like bandits this week.

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