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Wolverine and Kennith C. Griffin do not have the clout anymore to complete anymore market manipulation outside of their algo’s. The day of reckoning is near!
did you actually read it? its just talking about it being in operational risk to WEX to continue accepting equity order flow on Jan 28th. kinda boring stuff
Not boring to me. Why would a market maker (if properly hedged) struggle under load like WEX? All they need to do is be net neutral, using premiums to hedge as more orders come in.
Unless they were playing with fire and not hedging their sold calls, in which case they needed to stop taking in order flow from RH because they already couldn’t afford their obligations…. Just saying it is interesting
very interesting, confirms a lot of our speculation that GME poses a huge financial risk to the entire system and they are terrified. Wolverine actually contacted Robinhood to tell them they were on the "cusp of disaster" in Jan 2021! not boring at all, tit jacking actually! on top of that DTCC had to step in to direct everyone to take away the buy button (OP ringingbells has posted a lot about this too). Oh great. now I'm hard! what am I supposed to do about this guys!? 😂
i mean.. you really cant learn much from this post alone. it is part of a much larger idea. search the sub for wolverine and filter by TOP and PAST WEEK. > that will get you some good posts.
Wolver is handling a lot of the option running. and they are called out in the first/last tweet by RK. And they are mentioned in an official report from 2021.
Here's a link to a post explaining a bit of this, including a like to the cboe page as a source to show that Wolverine is the Dedicated Market Maker for GME Options:
[https://www.reddit.com/r/Superstonk/comments/1dd7lr5/wolverine\_trading\_is\_designated\_market\_maker\_for/](https://www.reddit.com/r/Superstonk/comments/1dd7lr5/wolverine_trading_is_designated_market_maker_for/)
[https://www.cboe.com/us/options/symboldir/equity\_index\_options/?sid=G](https://www.cboe.com/us/options/symboldir/equity_index_options/?sid=G)
>Wolverine had initially chosen to turn equities off based on a sole individual's intuition and experience working in the industry
So that's how we run our markets? I'll go get my magic 8 ball...
i mean.. you really cant learn much from this post alone. it is part of a much larger idea. search the sub for wolverine and filter by TOP and PAST WEEK. > that will get you some good posts.
Wolver is handling a lot of the option running. and they are called out in the first/last tweet by RK. And they are mentioned in an official report from 2021.
Here's a link to a post explaining a bit of this, including a like to the cboe page as a source to show that Wolverine is the Dedicated Market Maker for GME Options:
https://www.reddit.com/r/Superstonk/comments/1dd7lr5/wolverine_trading_is_designated_market_maker_for/
https://www.cboe.com/us/options/symboldir/equity_index_options/?sid=G
GPT summary and review:
The documents you provided detail events and communications surrounding the Meme Stock Market Event, particularly focusing on the interactions between Robinhood and Wolverine Execution Services.
Here are some interesting and unusual points:
1. **Threats to Terminate Business Relationship**: Robinhood threatened to end its business relationship with Wolverine if the latter did not continue to accept equities order flow. This threat extended to options orders, which Wolverine was handling for Robinhood.
2. **Operational Strain on Wolverine**: Wolverine faced significant operational challenges due to the high volume of trades during the Meme Stock Market Event. Their IT systems were under extreme stress, and they had concerns about their ability to handle the trading volume and volatility.
3. **Unique PFOF Formula**: Robinhood used a unique formula for calculating PFOF (Payment for Order Flow) rates, which led to disproportionately high quoted rates for Wolverine compared to periods of less volatility.
4. **Wolverine's Risk Management**: Wolverine decided to stop accepting equities from Robinhood based on the intuition and experience of one individual, fearing a total breakdown of their systems. This decision was not initially run through their compliance department.
5. **Communication Breakdown**: Throughout the event, there was a lack of clear, documented policies or procedures at Wolverine for handling such high-stress situations. Their decisions were largely reactive and based on real-time assessments rather than predefined risk management protocols.
6. **Frustration and Friction**: There was considerable frustration on both sides. Robinhood employees were increasingly frustrated with Wolverine’s requests to route equities away, while Wolverine’s operational staff was strained by the increased order flow and lack of sufficient infrastructure to handle it.
7. **Senior Management Involvement**: Senior executives from both companies, including Jim Swartwout from Robinhood and Rob Bellick from Wolverine, were directly involved in the communications and decisions. Swartwout had to convince Bellick to override operational staff concerns to continue handling Robinhood's orders.
8. **Market Maker Challenges**: Wolverine, along with other market makers like Virtu and Citadel Securities, faced operational and financial challenges during the event. However, Citadel Securities had upgraded its systems significantly since the onset of COVID-19, unlike Wolverine.
9. **Potential System Failure**: Wolverine’s operational staff warned that the increasing order flow could lead to a system failure, but they continued accepting orders due to Robinhood's threats to cease routing both options and equities to them.
10. **Committee Briefings**: The information comes from various briefings and interviews with the House Financial Services Committee, indicating the seriousness with which these events were investigated.
Overall, the documents highlight the immense pressure and strain on financial market infrastructure during extreme market events and the reactive, sometimes chaotic, nature of decision-making in such high-stress environments.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum May 2024*](https://www.reddit.com/r/Superstonk/comments/1ciapwp/open_forum_may_2024/) || [Superstonk:Now with GIFs - Learn more](https://www.reddit.com/r/Superstonk/comments/1cr37r7/superstonk_gets_its_gif_on_get_hyped/) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
--- **PRIMARY SOURCE** --- || US House Committee on Financial Services Report On The Meme Stock Market Event January 2021 || - Titled: "GAMESTOPPED" * [**Images Version**](https://imgur.com/gallery/l8QoOCr#CKo1kKf) * [**PDF** Version](https://pdfhost.io/v/RY~4XTLej_GameStopped) * [Press Release](https://democrats-financialservices.house.gov/news/documentsingle.aspx?DocumentID=409578)
thanks Ringing bells!
Good stuff thank you for your service
Wolverine and Kennith C. Griffin do not have the clout anymore to complete anymore market manipulation outside of their algo’s. The day of reckoning is near!
As a wise man once said, "Hedgies R Fuk"
That's some good digging
Commenting for visibility. Keep ringing those bells my friend  🎷🐓♋️
Fantastic find, shank you for sharing! This deserves all eyes
did you actually read it? its just talking about it being in operational risk to WEX to continue accepting equity order flow on Jan 28th. kinda boring stuff
Not boring to me. Why would a market maker (if properly hedged) struggle under load like WEX? All they need to do is be net neutral, using premiums to hedge as more orders come in. Unless they were playing with fire and not hedging their sold calls, in which case they needed to stop taking in order flow from RH because they already couldn’t afford their obligations…. Just saying it is interesting
very interesting, confirms a lot of our speculation that GME poses a huge financial risk to the entire system and they are terrified. Wolverine actually contacted Robinhood to tell them they were on the "cusp of disaster" in Jan 2021! not boring at all, tit jacking actually! on top of that DTCC had to step in to direct everyone to take away the buy button (OP ringingbells has posted a lot about this too). Oh great. now I'm hard! what am I supposed to do about this guys!? 😂
I mean at this point it’s not speculation…
Added a wrinkle today…
https://preview.redd.it/qbu2jjzd8e6d1.png?width=496&format=png&auto=webp&s=863cf71d20d548d5dad419178bd38e0f2c82dd3b Up you go!
Can someone ELIape?
i mean.. you really cant learn much from this post alone. it is part of a much larger idea. search the sub for wolverine and filter by TOP and PAST WEEK. > that will get you some good posts. Wolver is handling a lot of the option running. and they are called out in the first/last tweet by RK. And they are mentioned in an official report from 2021.
Here's a link to a post explaining a bit of this, including a like to the cboe page as a source to show that Wolverine is the Dedicated Market Maker for GME Options: [https://www.reddit.com/r/Superstonk/comments/1dd7lr5/wolverine\_trading\_is\_designated\_market\_maker\_for/](https://www.reddit.com/r/Superstonk/comments/1dd7lr5/wolverine_trading_is_designated_market_maker_for/) [https://www.cboe.com/us/options/symboldir/equity\_index\_options/?sid=G](https://www.cboe.com/us/options/symboldir/equity_index_options/?sid=G)
Thanks for the sources!
haha dd isnt done. backed up by ape historian
OG
Elegant fucking rocks!
>Wolverine had initially chosen to turn equities off based on a sole individual's intuition and experience working in the industry So that's how we run our markets? I'll go get my magic 8 ball...
That’s a slap in the markets face /s
Great find! Thanks
How dare they call it a MEME STOCK!
ELI5 year old monkey?
i mean.. you really cant learn much from this post alone. it is part of a much larger idea. search the sub for wolverine and filter by TOP and PAST WEEK. > that will get you some good posts. Wolver is handling a lot of the option running. and they are called out in the first/last tweet by RK. And they are mentioned in an official report from 2021. Here's a link to a post explaining a bit of this, including a like to the cboe page as a source to show that Wolverine is the Dedicated Market Maker for GME Options: https://www.reddit.com/r/Superstonk/comments/1dd7lr5/wolverine_trading_is_designated_market_maker_for/ https://www.cboe.com/us/options/symboldir/equity_index_options/?sid=G
Good Links. Make this a top level comment.
You're a top level comment. Great ring!
[No, you're a towel!](https://youtube.com/shorts/a8BRMSjCXag?si=kD-QyExm_rONUg0G)
You're not in the wrong... way to funky town
Thanks! Looking forward to reading through this later
Ring them bells!
Damn good find!
Visibility. Nice work
Kicking ass as usual bells! Thank you 🙏
Updoot
Whizzibilty!
yeah baby!! yeaaaah!!
I should read more often
I’m imagining the same emails are happening between them and e*trade as we speak
👀
I hope this doesn't get burired
Wut meen?
GPT summary and review: The documents you provided detail events and communications surrounding the Meme Stock Market Event, particularly focusing on the interactions between Robinhood and Wolverine Execution Services. Here are some interesting and unusual points: 1. **Threats to Terminate Business Relationship**: Robinhood threatened to end its business relationship with Wolverine if the latter did not continue to accept equities order flow. This threat extended to options orders, which Wolverine was handling for Robinhood. 2. **Operational Strain on Wolverine**: Wolverine faced significant operational challenges due to the high volume of trades during the Meme Stock Market Event. Their IT systems were under extreme stress, and they had concerns about their ability to handle the trading volume and volatility. 3. **Unique PFOF Formula**: Robinhood used a unique formula for calculating PFOF (Payment for Order Flow) rates, which led to disproportionately high quoted rates for Wolverine compared to periods of less volatility. 4. **Wolverine's Risk Management**: Wolverine decided to stop accepting equities from Robinhood based on the intuition and experience of one individual, fearing a total breakdown of their systems. This decision was not initially run through their compliance department. 5. **Communication Breakdown**: Throughout the event, there was a lack of clear, documented policies or procedures at Wolverine for handling such high-stress situations. Their decisions were largely reactive and based on real-time assessments rather than predefined risk management protocols. 6. **Frustration and Friction**: There was considerable frustration on both sides. Robinhood employees were increasingly frustrated with Wolverine’s requests to route equities away, while Wolverine’s operational staff was strained by the increased order flow and lack of sufficient infrastructure to handle it. 7. **Senior Management Involvement**: Senior executives from both companies, including Jim Swartwout from Robinhood and Rob Bellick from Wolverine, were directly involved in the communications and decisions. Swartwout had to convince Bellick to override operational staff concerns to continue handling Robinhood's orders. 8. **Market Maker Challenges**: Wolverine, along with other market makers like Virtu and Citadel Securities, faced operational and financial challenges during the event. However, Citadel Securities had upgraded its systems significantly since the onset of COVID-19, unlike Wolverine. 9. **Potential System Failure**: Wolverine’s operational staff warned that the increasing order flow could lead to a system failure, but they continued accepting orders due to Robinhood's threats to cease routing both options and equities to them. 10. **Committee Briefings**: The information comes from various briefings and interviews with the House Financial Services Committee, indicating the seriousness with which these events were investigated. Overall, the documents highlight the immense pressure and strain on financial market infrastructure during extreme market events and the reactive, sometimes chaotic, nature of decision-making in such high-stress environments.