Disagree with “when people expect it least”.
Compression to mNAV is like gravity. More tco’s speeds this up.
The chances of the point at which DATs are neutered being close is more or less monotonically increasing
It then gaps into the final castration dump.
Taran
@Taran_ss
08-18
Everyone on the TL is calling for the end of DATs. Yeah, not yet. They'll go bust when people expect it the least. Higher
It was a definitively bad sign that MSTR’s mNAV reacted extremely negatively to the new guidance released with earnings a few weeks ago (not ATMing commons should have been, at the margin, bullish the premium)
Doesn’t mean it’s the end though, it has dumped and recovered before
It has basically been a free ride up for 4 months for leveraged longs, clearing out some of this OI would be a good thing if we are to go higher later this year
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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