October 15, 2007
I want to be an Options Market Maker. Just so I can have the "exception". Please. Then I can manufacture free shares.
Oh yes, and I can help myself to those naked short sale profits without even owning or buying or borrowing. Don't worry, I'll buy back those naked short sale stocks, that the company issusing the real shares didn't get a dime for.
Of course, I'll only have 13 days to settle. This will help the liquidity of the market. Err, help my market.
No problem.
I'll just naked short some more, now that the price is down a bit, buy shares to cover the previous naked short sale and wait for some more downside.
I've got lots of company doing this, so no problem pushing the share price down. Might even call some of my friends and talk about when we will let the price go up so that we can repeat the process from the beginning.
This is so cool. No cash outlay. No risk. Works every time.
Of course, if I have lots of friends -- and I think with this plan I will have lots of friends -- I might be able to push this company into bankruptcy. After all, with the depressed share price, they can't raise cash for operations by issuing more shares. Wow, if they file for bankruptcy, I don't have to cover my naked short shares Right?
For sure, I'll have lots of friends. Party time.
Nobody knows. Nobody cares, least of all the SEC.
P.S. Please post it on this message board where I can pick up my Options Market Maker Exception Certificate. TIA.