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News Failure (guest: Jason Shapiro)

The Market Huddle

00:00

How Nick Lee Sin Sold the Nikke at 15% Discount to Cash

Nick Lee Sin was selling options and using the premium that he was taking in as an accounting gimmick to fill that in L hole, right? Right. So there was clearly something wrong there. But and I remember talking about it, but I didn't do anything about it. And then we found out obviously what it was, was that Nick Lee Sin was, you know, filling this P and L hole that he had built up by selling options or straddles. If your people don't know if they're not paying attention to you, right? So that blew up and he had the liquidate.

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