You can't purchase or write options on newly listed IPO's.
Looks like coinbase gonna open around 350.
And "immediately" crater to about 100. There is no universe where a middleman is worth 100 billion dollars.
Well, clarity, no universe in reality. We seem to be existing outside reality for the past while.
I don't know how immediate or if it'll be that low. Typically IPOs make money people buy in then they tank for a few days and go back up. Anyone buying this at 400 plus is going to regret it.
Banks are usually in first at the real price, and just scalp retailers when they first launch on the brokers. It's real scummy
Sent from my SM-G996U using Tapatalk
Yeah with IPOs I like to wait until the next day or two there's a pretty good trend of them skyrocketing at launch and then tipping to below their opening offer price in the next few days and then go straight back up.
It's not an IPO, it's a direct listing.
Unsure if the rules are different, but it doesn't have to follow the rules of an IPO.
For any weebs / the crypto degens here looking to play around with NFTs there is a good shill of Chainbinders in here:
https://twitter.com/KoroushAK/status...775204867?s=20
The price is on a bonding curve so disclaimer I'm in from the absolute bottom with about $20k in tokens since I have been following the project since it was in the planning stage. It's a gacha and you are guaranteed 85% return of card value on every NFT you pull instantly (direct ETH return from pool of funds) without needing to use the secondary market. If you pull the equivalent of an SSR / UR / whatever then it's going to be an easy 5 - 10 ETH instantly ($10k ~ $20k).
Anyway, I wouldn't say this is like a solid financial play, but it's a novel (and likely profitable) venture into blending crypto, gacha, and massive weebery. I'm expecting around a 2.5 return on my investment over time due to the pool mechanics.
Also, in for a few coinbase shares at $387. Doubt I look at these again for a few months.
idgi
Never buy in first few hours of an ipo.
I literally could not care less. This isn't a quick flip. If it really tanks I'll DCA it with whatever is still on RH. I lose more to getting sandwiched by MEV bots some days than I put into coinbase.
how do i start pulling gacha, i want to gamble 24/7