Rollover short position

[liondani]

In the meantime all the devs...  :)

[mf-tzo]

I 've been asking for a video with numerical examples for a year now. Before there was no product but now a video with numerical examples is a necessity. Dropping a couple of lines explanation in English is not really helpful for everyone..

[zerosum]

my short position has been fully covered (at a loss of course) and reopened so essentially this is a rollover until the next month (hopefully not at a loss again by then..)

But...the fact that so many people are still confused about how the whole thing exactly works, how the yield is accumulated and calculated, why it has changed from the 110% of the price feed, how exactly it would have worked if I haven't covered the short position etc etc means that either in here most people we are a bunch of idiots either that we need a clear presentation or even better a video explaining everything step by step with numerical examples...This is a basic marketing call to the rescue....

I do not need a video, all I need is a 3 words response. but you go ahead and ask for video if you wish. :)

[mf-tzo]

my short position has been fully covered (at a loss of course) and reopened so essentially this is a rollover until the next month (hopefully not at a loss again by then..)

But...the fact that so many people are still confused about how the whole thing exactly works, how the yield is accumulated and calculated, why it has changed from the 110% of the price feed, how exactly it would have worked if I haven't covered the short position etc etc means that either in here most people we are a bunch of idiots either that we need a clear presentation or even better a video explaining everything step by step with numerical examples...This is a basic marketing call to the rescue....

[zerosum]

I think it means that the order will sit at the (changing) feed price until it is fully executed.
So for that time anybody can short or sell BitUSD at the feed.

Yes

It used to be at 110% the price feed (price in BTS/BitAsset).
Why did it change, if in fact it did change.

[bytemaster]

I'm pretty sure that no 5% fee is charged for 30-day expiry covers. The 5% fee is only for margin calls when the short's collateral is running out.

Sent from my SCH-S720C using Tapatalk 2

can someone confirm?


Sent from my ALCATEL ONE TOUCH 997D

Confirmed.

[liondani]

I'm pretty sure that no 5% fee is charged for 30-day expiry covers. The 5% fee is only for margin calls when the short's collateral is running out.

Sent from my SCH-S720C using Tapatalk 2

can someone confirm?


Sent from my ALCATEL ONE TOUCH 997D

[biophil]

... and when it's done with the 5% fee will be distributed as interest to the remaining holders of BitUSD, right?
5% of 750 000 is how much exactly? :)

I don't think so. I'm pretty sure that no 5% fee is charged for 30-day expiry covers. The 5% fee is only for margin calls when the short's collateral is running out.

Sent from my SCH-S720C using Tapatalk 2

[bytemaster]

I think it means that the order will sit at the (changing) feed price until it is fully executed.
So for that time anybody can short or sell BitUSD at the feed.

Yes

[Markus]

I think it means that the order will sit at the (changing) feed price until it is fully executed.
So for that time anybody can short or sell BitUSD at the feed.

[joele]

How does that large order get covered if they are not currently holding the bitUSD or that quantity of bitUSD does not appear on the order book within a week?

Once their order expires any offer to sell/short bitUSD is immediately executed against the order.   If no one is selling then the order will ride.... because apparently all USD and shorts are happy with their position.

I don't exactly understand the bold sentence, please someone explain, thanks.

[Markus]

... and when it's done with the 5% fee will be distributed as interest to the remaining holders of BitUSD, right?
5% of 750 000 is how much exactly? :)

[bytemaster]

How does that large order get covered if they are not currently holding the bitUSD or that quantity of bitUSD does not appear on the order book within a week?

Once their order expires any offer to sell/short bitUSD is immediately executed against the order.   If no one is selling then the order will ride.... because apparently all USD and shorts are happy with their position.

[clout]

How does that large order get covered if they are not currently holding the bitUSD or that quantity of bitUSD does not appear on the order book within a week?

[biophil]

No matter what you do your short position will be closed and will have to be entered again.  You can probably place a low interest rate and have it matched when the large order is covered in a week.   The very high interest rates are for very small quantities.

I wouldn't count on that large cover doing anything in the market, unless you know something I don't (always a good possibility!). I've been operating on the assumption that that order arose when someone purchased their own short. Otherwise it seems highly unlikely that $0.75M in matching shorts and asks appeared on the order book at exactly the same time. :)

If my assumption is correct, the owner of that order will almost certainly cover it manually rather than taking a big loss on the auto-cover.

Sent from my SCH-S720C using Tapatalk 2

[mf-tzo]

Thanks BM.

So the position will be closed and repay the debt based on the market feed correct? But when exactly? when for example it says 1 day at what time it will close automatically?

[bytemaster]

No matter what you do your short position will be closed and will have to be entered again.  You can probably place a low interest rate and have it matched when the large order is covered in a week.   The very high interest rates are for very small quantities.

[mf-tzo]

I have an open short position soon expiring and I want to rollover. How can I do that? If I let it expire without covering what exactly will happen? If I cover and try to re-open a short position this will not get actioned unless I offer a ridiculously high interest correct?
So what should I do? Please advise...