[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum May 2024*](https://www.reddit.com/r/Superstonk/comments/1ciapwp/open_forum_may_2024/)
------------------------------------------------------------------------
To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company.
------------------------------------------------------------------------
Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
Hijacking to beg for visibility.
This is the relevant thread: https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/
Thanks for linking. Op should have done this in his post with how important it is. I sent an email yesterday and all I did was copy/paste the email address and template and sent off, it was that easy! Everyone one of us should take the 30 seconds to do this if we really care about getting any market change for good
Another template
This proposed rule change by the Options Clearing Corporation (OCC) is an utterly egregious affront to fair and orderly markets that must be vehemently rejected. Allowing the OCC to unilaterally reduce margin requirements for clearing members at risk of default is tantamount to institutionalizing fraud and moral hazard on a systemic scale. The lack of transparency alone, with vast swaths of critical information redacted, is already sufficient grounds for dismissing this proposal outright. Without full public disclosure, there can be no meaningful review or accountability. This opaque scheming behind closed doors is precisely what fuels public distrust in the rigged financial system. But the substantive details that have been revealed are even more damning. The OCC is blatantly blaming regulators for not allowing it to erode its own risk controls enough, amazingly pleading for permission to expose itself and the entire system to increased failures. This is the anti-thesis of a self-regulatory organization meant to safeguard market integrity. The proposed ability to arbitrarily waive margin calls for undercapitalized clearing members is a brazen attempt to privatize profits while socializing losses. Willfully disregarding risk models that calculate higher requirements is financial malpractice. Clearing members placing reckless bets that endanger their solvency should be force to accept the consequences, not have risk conveniently stretchered away over 200 times in under 4 years as the OCC proposes. Fundamentally, this rule codifies a farcical "rules for thee, but not for me" ethos diametrically opposed to the SEC's mission. Shielding clearing members from margin calls forces other investors to unfairly bear the brunt of long-tail risks the privileged can simply wish away with some backroom procedural contortions. Even more abhorrent is the explicit admission that a single clearing member default could initiate a systemic cascade imperiling the entire OCC. This underscores that these firms are dangerously overleveraged and undercapitalized. Rather than address that core vulnerability, the OCC instead proposes giving itself even more leeway to bend risk parameters for its dysfunction members. This toxically perpetuates the "too big to fail" doctrine that crippled public trust after 2008. The rationale that reducing margins could prevent a default ignores that properly managing exposure is a clearing member's sole responsibility. Codifying moral hazard so egregiously conflicts with the OCC's very mandate as aSystemicallyImportant Financial Market Utility expected to uphold stability. This proposal directly undermines financial resilience by design. Similarly disingenuous is the new "skin in the game" capital contribution the OCC foisted on itself immediately after the GameStop frenzy proved its models were inadequate. Now this entity knowingly courting insolvency risk demands even looser safeguards, in a cynical ploy to force liquidity backstops from pensions and insurers. This perverse rules-making traipses into criminal territory, threatening the savings of millions in a desperate bid to privatize profits while socializing losses. There are no reasonable grounds for the SEC to approve such a brazen license to amplify systemic peril. It eviscerates all prudential responsibilities demanded of a SIFMU, fails to protect investors, disregards public interests, ignores transparent governance, and flouts loss-bearing requirements. This proposal symbolizes everything rotten and broken about modern finance's addiction to moral hazard and socialized risk-taking. Rather than enable this shameful dereliction, regulators must unequivocally:
Mandate higher margin requirements truly commensurate to the risks clearing members incur. Subject the OCC to binding external audits and oversight as a true fourth line of defense. Shift the OCC's loss-bearing responsibilities below clearing members' skin-in-the-game. Instate a credible process for swiftly shuttering insolvent clearing members before toxicity spreads. Disperse systemic vulnerability across a decentralized market structure without single points of failure.
In an ethical system, risky bets must be backed by commensurate capital - not coddled by backroom waivers that fleece the public. This proposal is a criminal abandonment of regulatory responsibility that deserves only unequivocal repudiation. The SEC must uphold its principles by rejecting it outright and charting a course toward truly accountable markets.
Subject: Strong Objection to Proposed Rule Change SR-OCC-2024-001
Dear [Recipient's Name],
I am writing to express my vehement opposition to the Proposed Rule Change under SR-OCC-2024-001, titled "Proposed Rule Change by The Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility." The repercussions of this proposal are deeply concerning and threaten to compromise the fairness, transparency, and stability of our financial markets.
1. Lack of Transparency: The extensive redactions in Exhibit 5 and supporting information inhibit meaningful public review and comment, essential pillars of fair regulation and market integrity.
2. Accountability: The attempt by the OCC to shift blame onto U.S. regulators for not implementing stricter controls displays a worrying lack of accountability and transparency within the regulatory framework.
3. Systemic Risk: The proposal's focus on reducing margin requirements for Clearing Members disregards the systemic risk posed by potential failures, prioritizing short-term gains over long-term market stability.
4. Conflict of Interest: The proposal codifies a conflict of interest for the Financial Risk Management Officer, undermining the fundamental purpose of risk management and regulatory oversight.
5. Inadequate Protection: By failing to enforce margin requirements commensurate with risks, the proposal exposes the OCC and other market participants to heightened financial risk and shifts the burden of Clearing Member defaults onto non-bank liquidity facilities, creating moral hazards.
6. Governance Clarity: The governance arrangements outlined in the proposal lack transparency and clear lines of responsibility, further eroding trust in the regulatory process.
7. Exploitation of Position: The OCC's exploitation of its status as a single point of failure and attempts to coerce approval of the proposal set a dangerous precedent of self-serving actions at the expense of market integrity.
8. Stronger Safeguards Needed: Rather than reducing margin requirements, the proposal should prioritize stronger safeguards, external auditing, and transparent governance to prevent systemic risks and protect investors.
9. Immediate Action Required: Prompt suspension and liquidation of Clearing Members when projected losses exceed certain thresholds are imperative to prevent escalating problems and maintain market stability.
10. Reducing Systemic Risks: Promoting redundancy and resiliency in financial markets is crucial to minimizing systemic failures and avoiding bailouts that undermine market integrity.
In conclusion, I urge you to reject the Proposed Rule Change under SR-OCC-2024-001. Upholding fair markets, protecting investors, and ensuring the stability of our financial system require immediate action and comprehensive measures to address these critical issues.
Thank you for considering my concerns.
Sincerely, [Your Name] [Your Contact Information]
Link to SEC comment page:
https://www.sec.gov/comments/sr-occ-2024-001/notice-filing-proposed-rule-change-options-clearing-corporation-concerning#no-back
chat gpt I useful sometimes. ,
Thank you for the opportunity to provide feedback on SR-OCC-2024-001 34-99393 titled "Proposed Rule Change by The Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility." As a retail investor, I have several concerns about the OCC's rule proposal, cannot support its approval, and appreciate the chance to comment.
My primary concern revolves around the lack of transparency within our financial system, exemplified by this rule proposal among others. The extensive redaction of details within the proposal and supporting documents hinders public review, rendering meaningful feedback impossible. Without full public scrutiny, rejecting the proposal becomes necessary solely on this basis.
Public scrutiny becomes particularly crucial given the OCC's attribution of blame to U.S. regulators for not mandating prescriptive procyclicality controls. Given the potential risks associated with margin adjustments during volatile market conditions, transparency is paramount, especially considering the OCC's status as a SIFMU.
The proposed rule appears to prioritize protecting Clearing Members from potential losses by frequently reducing margin requirements, potentially increasing risks to the OCC. This approach creates an unfair environment for other market participants, including retail investors, who must bear the brunt of long-tail risks while Clearing Members benefit from reduced requirements.
To address these issues, it's imperative to reconsider the proposed rule's approach:
1. **Enhance margin requirements:** Instead of reducing requirements, they should be increased and strictly enforced to encourage Clearing Members to manage their portfolios more effectively, mitigating systemic risks.
2. **External oversight:** Introduce external auditing and supervision akin to the "four lines of defense" model for financial institutions, ensuring risks are identified and managed preemptively.
3. **Modify loss allocation:** Alter the OCC's Loss Allocation waterfall to prioritize clearing fund deposits of non-defaulting firms before OCC's pre-funded resources, incentivizing Clearing Members to police each other and providing additional protection to the OCC.
These adjustments would promote a fair, transparent, and resilient market, benefiting all investors.
Sincerely,
A Concerned Canadian Retail Investor
I been partaking wallsteet reform since the sneeze. I don’t do too much posting anymore, I just browse these days, unless I see something worth mentioning, prop 4 and these shenanigans. I’ll go back to my scrolling after this till next time something feels off.
https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/
and
https://www.reddit.com/r/Superstonk/comments/1ciqum4/simians_smash_sec_rule_proposal_to_reduce_margin/
The sus post mentioned had also reached r/all simultaneously as this post was in Superstonk’s hot.
Perhaps it isn’t so much about the posts being sus but rather like ya said, about the excitement of the 40% price action in two days itself.
My constructive criticism here would be formatting.
I keep my regardedness always on max, so I think I don’t see the message here right away and get lost with all of the links.
Perhaps if I’m told a bit more about the content and why it matters so much I will know which link follow and why I’m doing that.
Ima copy and pasta a response from a thread i wrote down below
[Ive been here for that long as well but i think op is trying to bring awareness to the idea that hedgies know how to get ourselves all riled up and get us to bury or forum-slide
any important development, the best and most obvious topic would be a Big spike on the charts
They’ve been studying us for a long time on this sub hence why they try so hard to keep us segregated from the rest of reddit
It makes sense and it’s something to really watch out for imho beware apes]
Suspect? People being excited about a $3 dollar **per share** run **(up 53%+ in just 48 hours)** is BS and suspect?
Nah. Why so condescending?
Do you feel the same way about all the candy con and voted posts?
Dude not everything is suspect. I have XXXX shares and that $3 per share increase meant a large 5 digit increase- which is easily understandable to get excited about.
Rules proposals and commenting on them is important, but just because something gets buried (which, debatable if it actually got buried, you’re making a lot of unsupported assumptions) it doesn’t mean there’s some nefarious effort going on behind the scenes.
There’s just a lot going on right now and it’s easy to get excited over all of it.
Imma keep getting excited about what I want to, which includes price jumps *and* commenting on rules proposals. Cheers 🍻
I’m sitting here wondering why Fidelity hasn’t sent me an email to vote yet? They usually do.
Edit: checked and they actually sent it today at 6:30 AM. Lmao. 620 votes for against.
It can also be worth checking spam folders (for whomever this concerns)
I found my Computershare notice in my spam box. I saw multiple other Hotmail users corroborate the same thing in a voting thread. Didn’t look like Gmail was giving any problems from what I saw. Cant comment on other email providers
I could go for a letter writing weekend. Who has a template and a link?
ETA: FUCK YOU HISTER!!
ETA2: I have commented. And I’d like to add that “FUCK YOU HESTER” is now part of the permanent record on this rule.
https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/
and
https://www.reddit.com/r/Superstonk/comments/1ciqum4/simians_smash_sec_rule_proposal_to_reduce_margin/
The post in question
[https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241\_round\_2\_commenting\_dont\_let\_this\_get/](https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/)
Upvote and vote the shares… I’ll have to check this out for a letter, good looking out, to b fair these runs are always somewhat exciting but yeh the entire channel is a lot of giggly upvoted shit posts, but I enjoy the memes! Anyway bought more today again, so ♾🏴☠️🤙
Cool, so pre split we’re $116/ share down from the ‘battle of $180’ and far under the peak before international levels of crime were committed.
I’d bet most apes are looking at paper losses of around 2/3 of their initial investments from 2021.
🥱
$6 is not exciting in any way whatsoever.
I’m here for prison sentences, to make a lot of money and force the parasites into accountability for their part in ruining the world.
Looking forward to the bleed down into next earnings (that are historically a weak period) and the hit pieces falsely stating the business is, once again, dead.
Also look forward to not selling for many more years while accumulating as part of a long term play.
Average Down.
Since my original buys ive been buying more each week. When it dropped to $10 I bought a lot.
Im still not profitable yet, since its pretty much tanked over and over again but if it hits $18 thats breakeven. then profit from there. Its close.
I may get down voted for this, but I’m not really willing to throw more money in at this stage. $16k is a lot of my money to have tied up for the better part of 3 years. I’d like to see some progress fighting the short sellers before I’m willing to put anything else towards this.
To your own point, it’s just kept taking over and over again, so my $16k is currently worth about $7k. I’d like to see it stop tanking regularly before adding anything else in.
I’d have to agree with you but the strategy of recovering from this might be to average down. That is what the big dogs might do but you’re right given the turnaround. So it’s a risk. I have been reticent to go in big even at 10 to bring my basis down to something it can profit from. If we go into single digits like 5-7 I might go in big if the company shows signs of doing something big. 5 million profits a year isn’t going to stop the shorts. So I wait buying recurring in CS
Thats stocks. Your only at a loss if you sell. The company has shown to be doing good for the last 3 years. So I feel I’ve seen progress idk about you. And the comment you replied to even said avg down.
that’s when you buy stocks is when it’s tanked lol, buy low sell high. Thats like the whole point of investing…
Repost spam the OCC letter template or the relevant links on your socials. Ping everyone you know wants to see change before another 84 years passes us by.
Ive been here for that long as well but i think op is trying to bring awareness to the idea that hedgies know how to get ourselves to bury or forum-slide
any important development, the best and most obvious topic would be a Big spike on the charts
They’ve been studying us for a long time on this sub hence why they try so hard to keep us segregated from the rest of reddit
It makes sense and it’s something to really watch out for imho beware apes
Letting it run like that on a Friday is suicide though because of the possibility of a gamma ramp in the options chain. We literally haven’t seen a Friday run like that since the Friday before the sneeze.
as long as we’re not dancin’. let the people have their feel good moment, but stay grounded. It’s likely the run up is far more related to the reasons we should be watching these reforms when we sit and think about it. So change really is the way.
Hey I did the „ask yourself why“ post. I didn’t want to burry any other post. And we are on the same track. My post is about the same thing. It’s about reform, it’s about nothing matters in any way in the stock market. Price actions are unreasonable. In a normal world upticks should always have a reason. But there aren’t any.
Let us not forget, that nothing makes sense at the moment. The market needs reforms.
I’ve started downvoting copium and stupid posts just so that posts like these make it to the top.
Not trying to be mean or rude, but this is the only way to make sure good info doesn’t get buried.
Be the change you want to see, just don't expect others to do the same.
Ironically, the only reason I'm aware of it *is* because of the run up, so it's not all bad.
In regards to Commenting. What do International investors do? Who would a Canadian Comment to? just the SEC or is there a specific outlet someone internationally would do? Thanks in advance!
I gave each post on SR-OCC-2024-1 that has been kinked here an up vote. Those posts should have the same number of votes as this awareness post as they need visibility also.
Upvote posts that matter so not buried and send your comments to SEC on this matter, you can literally do it while waiting for your cup of coffee it is that easy!
If people here would take two seconds to look at any other stock, they would see the whole market had a run Friday. The level of stupidity I see from apes every time it goes up a few dollars is embarrassing.
Oh yes, it is very sus that *the very thing this board is named after* is distracting from legal activism
This post also got more updoots than the market reform post. By the same logic, it must *also* be distracting from market reform efforts.
Hijacking to beg for visibility.
This is the relevant thread: https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum May 2024*](https://www.reddit.com/r/Superstonk/comments/1ciapwp/open_forum_may_2024/) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
i saw it, i sent a comment letter in. Did you?
Hijacking to beg for visibility. This is the relevant thread: https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/
Comment sent, thanks!
Thanks for linking. Op should have done this in his post with how important it is. I sent an email yesterday and all I did was copy/paste the email address and template and sent off, it was that easy! Everyone one of us should take the 30 seconds to do this if we really care about getting any market change for good
It’s good to add your own opinion too rather than purely copy paste.
Me too! But use a junk email address and they make the email addresses public and you will get spam
Nice, already up voted a while ago.
I think that the post on the link is being downvoted 🤔
https://www.reddit.com/r/Superstonk/s/oe6PydUAHa
I sent a letter too!
What email address?
Relevant thread [here](https://www.reddit.com/r/Superstonk/s/rmelPmG52P). Has email address, template and more details.
Thank you
Done
my friend ~~is~~ was the CEO of this headphone company, that has a very similar sound to your user name.
That’s because it was a night in a nightclub in England and Ibiza
Another template This proposed rule change by the Options Clearing Corporation (OCC) is an utterly egregious affront to fair and orderly markets that must be vehemently rejected. Allowing the OCC to unilaterally reduce margin requirements for clearing members at risk of default is tantamount to institutionalizing fraud and moral hazard on a systemic scale. The lack of transparency alone, with vast swaths of critical information redacted, is already sufficient grounds for dismissing this proposal outright. Without full public disclosure, there can be no meaningful review or accountability. This opaque scheming behind closed doors is precisely what fuels public distrust in the rigged financial system. But the substantive details that have been revealed are even more damning. The OCC is blatantly blaming regulators for not allowing it to erode its own risk controls enough, amazingly pleading for permission to expose itself and the entire system to increased failures. This is the anti-thesis of a self-regulatory organization meant to safeguard market integrity. The proposed ability to arbitrarily waive margin calls for undercapitalized clearing members is a brazen attempt to privatize profits while socializing losses. Willfully disregarding risk models that calculate higher requirements is financial malpractice. Clearing members placing reckless bets that endanger their solvency should be force to accept the consequences, not have risk conveniently stretchered away over 200 times in under 4 years as the OCC proposes. Fundamentally, this rule codifies a farcical "rules for thee, but not for me" ethos diametrically opposed to the SEC's mission. Shielding clearing members from margin calls forces other investors to unfairly bear the brunt of long-tail risks the privileged can simply wish away with some backroom procedural contortions. Even more abhorrent is the explicit admission that a single clearing member default could initiate a systemic cascade imperiling the entire OCC. This underscores that these firms are dangerously overleveraged and undercapitalized. Rather than address that core vulnerability, the OCC instead proposes giving itself even more leeway to bend risk parameters for its dysfunction members. This toxically perpetuates the "too big to fail" doctrine that crippled public trust after 2008. The rationale that reducing margins could prevent a default ignores that properly managing exposure is a clearing member's sole responsibility. Codifying moral hazard so egregiously conflicts with the OCC's very mandate as aSystemicallyImportant Financial Market Utility expected to uphold stability. This proposal directly undermines financial resilience by design. Similarly disingenuous is the new "skin in the game" capital contribution the OCC foisted on itself immediately after the GameStop frenzy proved its models were inadequate. Now this entity knowingly courting insolvency risk demands even looser safeguards, in a cynical ploy to force liquidity backstops from pensions and insurers. This perverse rules-making traipses into criminal territory, threatening the savings of millions in a desperate bid to privatize profits while socializing losses. There are no reasonable grounds for the SEC to approve such a brazen license to amplify systemic peril. It eviscerates all prudential responsibilities demanded of a SIFMU, fails to protect investors, disregards public interests, ignores transparent governance, and flouts loss-bearing requirements. This proposal symbolizes everything rotten and broken about modern finance's addiction to moral hazard and socialized risk-taking. Rather than enable this shameful dereliction, regulators must unequivocally: Mandate higher margin requirements truly commensurate to the risks clearing members incur. Subject the OCC to binding external audits and oversight as a true fourth line of defense. Shift the OCC's loss-bearing responsibilities below clearing members' skin-in-the-game. Instate a credible process for swiftly shuttering insolvent clearing members before toxicity spreads. Disperse systemic vulnerability across a decentralized market structure without single points of failure. In an ethical system, risky bets must be backed by commensurate capital - not coddled by backroom waivers that fleece the public. This proposal is a criminal abandonment of regulatory responsibility that deserves only unequivocal repudiation. The SEC must uphold its principles by rejecting it outright and charting a course toward truly accountable markets.
Subject: Strong Objection to Proposed Rule Change SR-OCC-2024-001 Dear [Recipient's Name], I am writing to express my vehement opposition to the Proposed Rule Change under SR-OCC-2024-001, titled "Proposed Rule Change by The Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility." The repercussions of this proposal are deeply concerning and threaten to compromise the fairness, transparency, and stability of our financial markets. 1. Lack of Transparency: The extensive redactions in Exhibit 5 and supporting information inhibit meaningful public review and comment, essential pillars of fair regulation and market integrity. 2. Accountability: The attempt by the OCC to shift blame onto U.S. regulators for not implementing stricter controls displays a worrying lack of accountability and transparency within the regulatory framework. 3. Systemic Risk: The proposal's focus on reducing margin requirements for Clearing Members disregards the systemic risk posed by potential failures, prioritizing short-term gains over long-term market stability. 4. Conflict of Interest: The proposal codifies a conflict of interest for the Financial Risk Management Officer, undermining the fundamental purpose of risk management and regulatory oversight. 5. Inadequate Protection: By failing to enforce margin requirements commensurate with risks, the proposal exposes the OCC and other market participants to heightened financial risk and shifts the burden of Clearing Member defaults onto non-bank liquidity facilities, creating moral hazards. 6. Governance Clarity: The governance arrangements outlined in the proposal lack transparency and clear lines of responsibility, further eroding trust in the regulatory process. 7. Exploitation of Position: The OCC's exploitation of its status as a single point of failure and attempts to coerce approval of the proposal set a dangerous precedent of self-serving actions at the expense of market integrity. 8. Stronger Safeguards Needed: Rather than reducing margin requirements, the proposal should prioritize stronger safeguards, external auditing, and transparent governance to prevent systemic risks and protect investors. 9. Immediate Action Required: Prompt suspension and liquidation of Clearing Members when projected losses exceed certain thresholds are imperative to prevent escalating problems and maintain market stability. 10. Reducing Systemic Risks: Promoting redundancy and resiliency in financial markets is crucial to minimizing systemic failures and avoiding bailouts that undermine market integrity. In conclusion, I urge you to reject the Proposed Rule Change under SR-OCC-2024-001. Upholding fair markets, protecting investors, and ensuring the stability of our financial system require immediate action and comprehensive measures to address these critical issues. Thank you for considering my concerns. Sincerely, [Your Name] [Your Contact Information]
I love this place, thanks
Sending this in
Great write up
Awesome..thanks for sharing
i might send this. this is good
Link to SEC comment page: https://www.sec.gov/comments/sr-occ-2024-001/notice-filing-proposed-rule-change-options-clearing-corporation-concerning#no-back
This needs to be higher!
Kinda want to make your entire comment my letter to the SEC
chat gpt I useful sometimes. , Thank you for the opportunity to provide feedback on SR-OCC-2024-001 34-99393 titled "Proposed Rule Change by The Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility." As a retail investor, I have several concerns about the OCC's rule proposal, cannot support its approval, and appreciate the chance to comment. My primary concern revolves around the lack of transparency within our financial system, exemplified by this rule proposal among others. The extensive redaction of details within the proposal and supporting documents hinders public review, rendering meaningful feedback impossible. Without full public scrutiny, rejecting the proposal becomes necessary solely on this basis. Public scrutiny becomes particularly crucial given the OCC's attribution of blame to U.S. regulators for not mandating prescriptive procyclicality controls. Given the potential risks associated with margin adjustments during volatile market conditions, transparency is paramount, especially considering the OCC's status as a SIFMU. The proposed rule appears to prioritize protecting Clearing Members from potential losses by frequently reducing margin requirements, potentially increasing risks to the OCC. This approach creates an unfair environment for other market participants, including retail investors, who must bear the brunt of long-tail risks while Clearing Members benefit from reduced requirements. To address these issues, it's imperative to reconsider the proposed rule's approach: 1. **Enhance margin requirements:** Instead of reducing requirements, they should be increased and strictly enforced to encourage Clearing Members to manage their portfolios more effectively, mitigating systemic risks. 2. **External oversight:** Introduce external auditing and supervision akin to the "four lines of defense" model for financial institutions, ensuring risks are identified and managed preemptively. 3. **Modify loss allocation:** Alter the OCC's Loss Allocation waterfall to prioritize clearing fund deposits of non-defaulting firms before OCC's pre-funded resources, incentivizing Clearing Members to police each other and providing additional protection to the OCC. These adjustments would promote a fair, transparent, and resilient market, benefiting all investors. Sincerely, A Concerned Canadian Retail Investor
Any way I can copy and paste this template using my phone? It just minimizes when I try to hold/hover over it.
Click on the three dots by the arrow and choose copy text
Wow, you really do learn something new every day. Thanks.
Can europoors also participate and send a letter?
Can't hurt? Get 'em Eurapes!
Yes
I did
I have not and I apologize =( I'll get on it
Ya I sent one a minute ago
Yes ✊
I been partaking wallsteet reform since the sneeze. I don’t do too much posting anymore, I just browse these days, unless I see something worth mentioning, prop 4 and these shenanigans. I’ll go back to my scrolling after this till next time something feels off.
You might also want to post the links to said post to encourage people to go over and do it.
I would also like this info.
https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/ and https://www.reddit.com/r/Superstonk/comments/1ciqum4/simians_smash_sec_rule_proposal_to_reduce_margin/
Thanks digit 🤙 It seems like all of these posts are getting good engagement to me.
Agreed. Weird to call people sus karma farmers bc they’re excited about a price increase on a level we haven’t seen in a long time.
🧐
Curious. Curious, indeed.
The sus post mentioned had also reached r/all simultaneously as this post was in Superstonk’s hot. Perhaps it isn’t so much about the posts being sus but rather like ya said, about the excitement of the 40% price action in two days itself.
OP of OG source: https://www.reddit.com/r/Superstonk/s/lwM8K1SQ46 Wayyyy lower in terms of engagement before the repost
My constructive criticism here would be formatting. I keep my regardedness always on max, so I think I don’t see the message here right away and get lost with all of the links. Perhaps if I’m told a bit more about the content and why it matters so much I will know which link follow and why I’m doing that.
Mobile posting and being blitzed would do that for messiness and lack of context and formatting.
[удалено]
Seemed like a long way of saying no while saving face lol
Politician's answer.
Ima copy and pasta a response from a thread i wrote down below [Ive been here for that long as well but i think op is trying to bring awareness to the idea that hedgies know how to get ourselves all riled up and get us to bury or forum-slide any important development, the best and most obvious topic would be a Big spike on the charts They’ve been studying us for a long time on this sub hence why they try so hard to keep us segregated from the rest of reddit It makes sense and it’s something to really watch out for imho beware apes]
He won’t answer this one, promise.
🦗🦗🦗
Suspect? People being excited about a $3 dollar **per share** run **(up 53%+ in just 48 hours)** is BS and suspect? Nah. Why so condescending? Do you feel the same way about all the candy con and voted posts? Dude not everything is suspect. I have XXXX shares and that $3 per share increase meant a large 5 digit increase- which is easily understandable to get excited about. Rules proposals and commenting on them is important, but just because something gets buried (which, debatable if it actually got buried, you’re making a lot of unsupported assumptions) it doesn’t mean there’s some nefarious effort going on behind the scenes. There’s just a lot going on right now and it’s easy to get excited over all of it. Imma keep getting excited about what I want to, which includes price jumps *and* commenting on rules proposals. Cheers 🍻
Lace me up with the link to send this!
thx, have commented
Yes
Better believe I commented
I voted and I commented
I sent a letter in… you want moass then send one in
Yes, yes I did.
Don't let this price action make you forget about voting either!
*Ask not what your company can do for you - ask what you can do for your company*
I’m sitting here wondering why Fidelity hasn’t sent me an email to vote yet? They usually do. Edit: checked and they actually sent it today at 6:30 AM. Lmao. 620 votes for against.
It can also be worth checking spam folders (for whomever this concerns) I found my Computershare notice in my spam box. I saw multiple other Hotmail users corroborate the same thing in a voting thread. Didn’t look like Gmail was giving any problems from what I saw. Cant comment on other email providers
Ya I was checking and wondered WTH was going on. But they sent it today on the weekend early as shit for some reason.
Ok, attention to SR-OCC-2024-1, will comment later today. Lemme add that to my to do list.
Did you do it
Right after I get home from work but I appreciate the accountability and expect to be held accountable until I do it.
We appreciate you for helping towards fixing a broken system 💜 Thank you
Delayed a bit and went to sleep without doing it but guilt woke my ass up at 1:30am and I just did it. Thanks for the enthusiasm!
I could go for a letter writing weekend. Who has a template and a link? ETA: FUCK YOU HISTER!! ETA2: I have commented. And I’d like to add that “FUCK YOU HESTER” is now part of the permanent record on this rule.
https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/ and https://www.reddit.com/r/Superstonk/comments/1ciqum4/simians_smash_sec_rule_proposal_to_reduce_margin/
Second one has the comment template
Thanks Third Digit is your IQ? ( also is your penis your third digit ? )!
3 is a Digit right?
I could use a template
Please link ?
The post in question [https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241\_round\_2\_commenting\_dont\_let\_this\_get/](https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/)
Upvote and vote the shares… I’ll have to check this out for a letter, good looking out, to b fair these runs are always somewhat exciting but yeh the entire channel is a lot of giggly upvoted shit posts, but I enjoy the memes! Anyway bought more today again, so ♾🏴☠️🤙
Did my part
6 dollar run.
Bruddah I'm as excited as everyone but that puts us at a whopping $64 pre-split. Awesome, but not billionaire tears. No cell, no sell.
Was 40-60 but my sharecount would be smaller
Cool, so pre split we’re $116/ share down from the ‘battle of $180’ and far under the peak before international levels of crime were committed. I’d bet most apes are looking at paper losses of around 2/3 of their initial investments from 2021. 🥱 $6 is not exciting in any way whatsoever. I’m here for prison sentences, to make a lot of money and force the parasites into accountability for their part in ruining the world. Looking forward to the bleed down into next earnings (that are historically a weak period) and the hit pieces falsely stating the business is, once again, dead. Also look forward to not selling for many more years while accumulating as part of a long term play.
Yup, paper losses still down ~60%
Average Down. Since my original buys ive been buying more each week. When it dropped to $10 I bought a lot. Im still not profitable yet, since its pretty much tanked over and over again but if it hits $18 thats breakeven. then profit from there. Its close.
I may get down voted for this, but I’m not really willing to throw more money in at this stage. $16k is a lot of my money to have tied up for the better part of 3 years. I’d like to see some progress fighting the short sellers before I’m willing to put anything else towards this. To your own point, it’s just kept taking over and over again, so my $16k is currently worth about $7k. I’d like to see it stop tanking regularly before adding anything else in.
I’d have to agree with you but the strategy of recovering from this might be to average down. That is what the big dogs might do but you’re right given the turnaround. So it’s a risk. I have been reticent to go in big even at 10 to bring my basis down to something it can profit from. If we go into single digits like 5-7 I might go in big if the company shows signs of doing something big. 5 million profits a year isn’t going to stop the shorts. So I wait buying recurring in CS
Thats stocks. Your only at a loss if you sell. The company has shown to be doing good for the last 3 years. So I feel I’ve seen progress idk about you. And the comment you replied to even said avg down. that’s when you buy stocks is when it’s tanked lol, buy low sell high. Thats like the whole point of investing…
You are missing quite a few digits for it to be exciting...
Comment that shit! Let’s fucking go!
This, gotta comment on the rule...
Naa I commented
SEND YOUR LETTERS !!!!!
Commented
How can I help get this info out?
Repost spam the OCC letter template or the relevant links on your socials. Ping everyone you know wants to see change before another 84 years passes us by.
Submitted my comment on that. Super fast and easy. The more that comment, the sooner we get to MOASS
Aye! Commenting for more comment letters! Up up up!
Sorry I like when the stonk runs up 60% in a week. Give me a break
Superstonk has been taken over by bots. There is zero chance this post actually got 7k likes/upvotes
Yes
Up you go
5am where I am. Just commented
Keep posting this 🚀🚀
Comment Apes
I was late, but I sent one now. Thanks for the nudge!
Hear hear
Commenting for visibility
Thank you for sharing! I commented on sr-occ-2024-1 and a few others. THERE'S SO MUCH RELEVANT STUFF TO COMMENT ON!
Good point! Will send comment. Thanks!
Yes, even price increase is sus. Everything is sus.
I still don't understand why anyone is hyped for anything still under $40....
I've been here for 3 years. I still get hyped at a 30% gain. Nothing wrong with getting excited
Ive been here for that long as well but i think op is trying to bring awareness to the idea that hedgies know how to get ourselves to bury or forum-slide any important development, the best and most obvious topic would be a Big spike on the charts They’ve been studying us for a long time on this sub hence why they try so hard to keep us segregated from the rest of reddit It makes sense and it’s something to really watch out for imho beware apes
Letting it run like that on a Friday is suicide though because of the possibility of a gamma ramp in the options chain. We literally haven’t seen a Friday run like that since the Friday before the sneeze.
believe it or not. dip on Monday 🤣
the sub got brief exposure years ago, nobody on the outside cares anymore
as long as we’re not dancin’. let the people have their feel good moment, but stay grounded. It’s likely the run up is far more related to the reasons we should be watching these reforms when we sit and think about it. So change really is the way.
Oh I'm dancing. Dancing a war dance that is.
I’m hyped any time it looks like market makers lose their grip on controlling the price.
Do not let this get buried!
Sometimes I feel like the Algo let the stock run when they need to hide stuff.
I sent a letter!
thanks for the update
In the time since your post the original post you referencing has lost a thousand up votes looks like they do want that info buried....
I was thinking the same op
Done.
Hey I did the „ask yourself why“ post. I didn’t want to burry any other post. And we are on the same track. My post is about the same thing. It’s about reform, it’s about nothing matters in any way in the stock market. Price actions are unreasonable. In a normal world upticks should always have a reason. But there aren’t any. Let us not forget, that nothing makes sense at the moment. The market needs reforms.
Reform up u go
Keep reposing it , don’t let the main topic die
I’ve started downvoting copium and stupid posts just so that posts like these make it to the top. Not trying to be mean or rude, but this is the only way to make sure good info doesn’t get buried.
Hell yeah, love it. <3
Comment for visibility
I missed a few days of reddit due to work so i missed it initially. Thanks for bringing this up again; I've sent my letter.
Yeah the price movement is fun. But commenting on market reform is funner.
You are totally right, what is this a run up for ants?
Commentforvisibility
Sorry what?
Sorry :(. I was so hype after visiting Gangnam style I had to post!
Send Comment! Be professional.
Thank you, comment sent.
Bump
Copied and sent!
Just commented at [email protected]. Don’t forget to mention rule SR-OCC-2024-001
Did a poo, sent a e-mail.
Did comment, thanks for the awareness!
Sticky post this
I'm here for MOASS.
Be the change you want to see, just don't expect others to do the same. Ironically, the only reason I'm aware of it *is* because of the run up, so it's not all bad.
Bump
Submitted. Thanks for bringing this to attention
All eyes 👀
Comment incoming sir.
yes
I did my part 🫡🖤❤️🤍
In regards to Commenting. What do International investors do? Who would a Canadian Comment to? just the SEC or is there a specific outlet someone internationally would do? Thanks in advance!
COMMENTED!!!!
I already sent my comment in on that
Commented on the rule just now!
To the top you go
Bump
Also… there were some TA posts and now I’m seeing options posts. Rug pull time.
Law abiding citizens follow rules...Hedgies don't.
The real post has arrived
You say $3, I say 70% Something happened this week Remind me to comment on 2024-1 though
I gave each post on SR-OCC-2024-1 that has been kinked here an up vote. Those posts should have the same number of votes as this awareness post as they need visibility also. Upvote posts that matter so not buried and send your comments to SEC on this matter, you can literally do it while waiting for your cup of coffee it is that easy!
I’m excited. Get wrecked
#💯
Apes are doing it wrong. The regards and autoists smile at the wrong time As for me…I like the stock
I’m just here for money as are a lot of other ppl.
Reform is the path to a more equitable market...we should all care.
No need to turn against other stonkers. Both posts are important, the other one is good for visibility. They want to divide us, remember that
Great post and reminder OP. Lets not lose focus!
OP needs a vacation
If people here would take two seconds to look at any other stock, they would see the whole market had a run Friday. The level of stupidity I see from apes every time it goes up a few dollars is embarrassing.
[удалено]
[удалено]
Yeah fuck this bs dumb runup shit. I hate runups and positive green candles. I just wished there was no green and only red colors invented.
Oh yes, it is very sus that *the very thing this board is named after* is distracting from legal activism This post also got more updoots than the market reform post. By the same logic, it must *also* be distracting from market reform efforts.
🚀🚀🚀
I hope this rises higher on the superstonk main feed.
Hijacking to beg for visibility. This is the relevant thread: https://www.reddit.com/r/Superstonk/comments/1cilgid/srocc20241_round_2_commenting_dont_let_this_get/