Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: On the bright side, at least some grandfathered shorts might soon be cleared out  (Read 422 times)

0 Members and 1 Guest are viewing this topic.

Offline arhag

  • Hero Member
  • *****
  • Posts: 1214
    • View Profile
    • My posts on Steem
  • BTS: arhag
  • GitHub: arhag

If the price of BTS drops to 0.935 cents, many of the remaining grandfathered shorts would be forced to cover.

Just looking at the BitUSD/BTS market, there are currently approximately 74,734 BitUSD owed by grandfathered shorts. If the price of BTS hits $0.00935/BTS, then all but 5 of these short positions will have to have been covered one way or another (manually or margin called), leaving at most 1,658 BitUSD owed by the remaining 5 grandfathered short positions.

This should then help the market peg even more.

Sorry to those shorts if this does in fact happen.  :(

Edit: Fixed decimal places.
« Last Edit: January 13, 2015, 03:14:04 PM by arhag »

Online lil_jay890

  • Hero Member
  • *****
  • Posts: 1193
    • View Profile
According to bitshares blocks, it looks like all the short orders for both bitCNY and bitUSD have been filled... Must have been a forced covering???

Offline svk

Yea looks like there are only a few short orders left!
Worker: dev.bitsharesblocks

Offline arhag

  • Hero Member
  • *****
  • Posts: 1214
    • View Profile
    • My posts on Steem
  • BTS: arhag
  • GitHub: arhag
According to bitshares blocks, it looks like all the short orders for both bitCNY and bitUSD have been filled... Must have been a forced covering???

That's not what I'm seeing.

Yes, a huge amount of the short orders were filled, but there are still some open short orders remaining.

For BitCNY, some are at the price feed. For BitUSD, no one is currently shorting at the price feed but at a price limit that is, as of right now, above (in BTS/BitUSD) the current price feed.

Offline arhag

  • Hero Member
  • *****
  • Posts: 1214
    • View Profile
    • My posts on Steem
  • BTS: arhag
  • GitHub: arhag
Oh, I forgot to take into account that shorts can both partially cover and add more collateral.

So, it's not as simple as having the price drop to some particular amount. Still, as the price drops, the grandfathered shorts either have to realize more and more partial losses (and reduce their leverage), or they have to keep buying and adding more BTS collateral (further reducing their leverage).

I guess the only thing to get these guys to cover fully will be to either wait until September or perhaps if the price of BTS goes up high enough they might volunteer to cover so that they do not miss out on compounding gains.


By the way, FYI there are no short sells at the price feed again... I can't wait until this bear market ends.

Offline merlin0113

  • Sr. Member
  • ****
  • Posts: 286
    • View Profile
Oh, I forgot to take into account that shorts can both partially cover and add more collateral.

So, it's not as simple as having the price drop to some particular amount. Still, as the price drops, the grandfathered shorts either have to realize more and more partial losses (and reduce their leverage), or they have to keep buying and adding more BTS collateral (further reducing their leverage).

I guess the only thing to get these guys to cover fully will be to either wait until September or perhaps if the price of BTS goes up high enough they might volunteer to cover so that they do not miss out on compounding gains.


By the way, FYI there are no short sells at the price feed again... I can't wait until this bear market ends.

Positive news are on the way from chinese, shh...

Offline arhag

  • Hero Member
  • *****
  • Posts: 1214
    • View Profile
    • My posts on Steem
  • BTS: arhag
  • GitHub: arhag
This is me right now...


Actually, it's more like Schrödinger's knife. Within a week or so I should know whether or not my hand is bleeding.

Time to go sleep.

 

Google+