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Macallik86

Macallik86

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My (non-funded) brokerage just emailed me saying they finna be increasing margin requirements daily leading up to the election:

Dear Client,

As you’ve likely observed, elevated option implied volatilities indicate that the markets will be confronting elevated volatility both before and after the November 2020 election. IBKR shares that sentiment and believe it’s appropriate to start controlling leverage in a measured fashion in advance.

Consequently, to protect IBKR and its customers, IBKR will increase margin requirements by as much as 35% above normal margin requirements leading up to the November U.S. election. To illustrate, consider a Reg. T margin account with stock XYZ having an Initial Margin requirement of 50% and a Maintenance Margin requirement of 25%. With the increase fully implemented, the new requirements would be 67.5% Initial and 33.75% Maintenance. Accounts subject to risk based margin will have their scanning ranges increased in a similar manner.

This will be implemented gradually each day, increasing Initial margin requirements from normal levels starting September 28th to a rate that will be 35% higher by October 23rd. Maintenance margin requirements will increase in a similar manner between October 5th and October 30th. The new requirements will be implemented each day, after the market closes in New York, and will be effective the next trading day.

IBKR may make additional changes to the margin on certain products, or all products, depending on volatility. This includes changes built into the standard margin model as well as any new house margin requirements that may be imposed.
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winb83

winb83

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Sold 45 Uber shares and bought 4 Tesla shares. Still have like 50 Uber shares left which I think I'll keep. Tesla is such a unstable stock so I put it toward the bottom of my watch list. I'll hold it for years and add to the shares if it continues to fall.
 
Serious

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1st Round Playoff Exits
Shares of GoodRx, a company that finds users prescription drugs at a discount, jumped 40% in its public debut Wednesday on the Nasdaq.

The stock began trading at $46 per share, up from its IPO price of $33 per share, boosting its market cap to about $17.6 billion. Shares were up as much as 50% early Wednesday afternoon, trading under the symbol “GDRX” on the NASDAQ.


Founded in 2011 by Facebook veteran Doug Hirsch and software entrepreneur Trevor Bezdek, GoodRx offers users a free list of discount cards and coupons to cut down costs of their prescription medication. The company collects fees from the pharmacy benefits managers it works with.

It’s the latest tech company to go public in a busy month for IPOs, following Snowflake, Unity and Amwell. Data analytics company Palantir is expected to go public in a direct listing on Sept. 30. GoodRx revealed in its filing to go public last month that it has been consistently profitable since 2016, a rare feat for tech start-ups going public.

The company said it earned $55 million in profit for first half of 2020, up from $31 million in the first half of 2019. Revenues for the first half of 2020 were $257 million, up from $173 million in the first half of 2019. In 2019, it pulled in $66 million in profit on $388 million in revenue.

Morgan Stanley, Goldman Sachs and JP Morgan led the IPO, while investors include Silver Lake, Francisco Partners and Spectrum Equity, according to the company’s S-1/A.

GoodRx ranked No. 20 on this year’s CNBC Disruptor 50 list
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GoodRx jumps 40% in market debut
 
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