GNCC Capital Inc (GNCP)

[moe_the_gyp01]

Varmit, so I am trying to open a 15 contract naked put position on PLT@ on the 2023 20.00s. The bid ask is 10.70 by 10.90. I set my limit at 10.90 which is .20 above the active bid which is what one would expect to garner (10.70 to sell to open) a put. While my IB account routed this out of bounds limit order to the market, the MM handling the order was GMNI. So the order just sat there while the bid ask increase to 10.40 by 10.80. I modified my order to something reasonable and the order reappeared this time being handled by BATS and got a fill. I know why that happens and it sure isn't because the system is broken. Perhaps your understanding of how all this works needs a major overhaul.

GNCP GNCC CAPITAL INC PINK.NOINFO
0.0001+0.0001
Delayed Data
We make an extensive list of instruments available for shorting. Clients who short instruments pay a fee expressed as a reduced interest on the sale proceeds. Details of the short sale rebate rates are available here. For an overview of the general availability around the world you can refer to the main web site.

Quantity Available
32,390,400
Num. of Lender w/ inventory
1
Current Rebate Rate *
-0.1700 per shs
Current Fee Rate **
0.2500 per shs
ISIN Code
XXXXXXXE203
Country
United States

* Rebate Convention (US/Canada) - reflects the combination of the collateral interest to be received by the borrower less the fee to be received by the lender. A negative rate reflects a net charge to the borrower.

** Fee Convention (Others) - reflects the rate charged to the borrower irrespective of the collateral interest rate.


So, who really shorts this junk? No One who knows anything about money!!!