SoftBank unmasked as ‘Nasdaq whale’ that stoked tech rally
This is hands down the most entertaining thing I’ve read today. SoftBank is responsible for the spike in gamma across the board, dumping massive amounts of money into OTM calls. Retail (WSB) speculators see unusual options flow, end up piling in  on calls and amplify the effect. Market makers are forced to buy the underlying in order to delta hedge, and the price goes up even higher. Rinse and repeat...the positive feedback loop continues and stocks actually only go up.The financial system is far more broken than people realize.I’m guilty of taking advantage of this myself, but it’s basically been free money for the last several months. Up until yesterday at least...