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Re: None

Thursday, 12/01/2022 7:47:27 PM

Thursday, December 01, 2022 7:47:27 PM

Post# of 708653
According to the lawsuit, there were 30.5 million shares of fictions baiting orders, and 19.3 million shares purchased below prevailing best offer prior to entry of the baiting orders.

Notably, during Spoofing Episodes, Defendants submitted significantly more sell-side share orders per each Executing Purchase than for non-spoofed executed purchases. During the Baiting Period for each Spoofing Episode, Defendants submitted new sell-side orders for an average of 17,170 shares per Executing Purchase. During the same time window prior to non-spoofed executed purchases, market participants submitted new sell-side orders for an average of 1,879 shares per purchase. In other words, Defendants’ ratio of sell-side orders per executing purchase was more than 9 times that of non-spoofed executed purchases during Spoofing Episodes.



So there were 19 million shares purchased by the MMs... was it for themselves or their hedge fund clients to cover?
How were the shares used?

If the first action is the MM puts up the false sell order - the bluff - and the result is the MM buys the lower priced shares, it appears that ultimately, there really was no "sell" on the part of the MMs, but rather a "buy" (albeit dishonestly done).
Given that, what are the MMs doing with those shares they've bought while spoofing?
Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
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