Catastrophic Consequences of Restricting Trades
This page is to show what happened on Jan 28 in detail using tick data sampled every minute from 9:30 A.M. to 4:00 P.M.. If there are major events that are not included on this page, please comment below or email me!
I am going to provide the snapshot of the prices series along with the list of big events with 90 minutes window (except the last one) so that we can clearly see what happened.
The one-line summary of what happened on Jan28 on GME is
“ For the 19 Trade Halts, the Price went Up 82% → Down 76% → Up 65% → Down 40% ”
9:30 ~ 11:00
Trade Halts
- 9:31:29 ~ 9:36:35
- 9:39:34 ~ 9:44:36
- 10:03:22 ~ 10:08:26
- 10:17:07 ~ 10:22:10
- 10:40:01 ~ 10:45:03
- 10:45:44 ~ 10:51:19
- 10:54:39 ~ 11:00:04
9:56 a.m.: Robinhood say they are ‘restricting transactions for certain securities to position closing only, including $AMC and $GME.’Note that the candlestick of traded price series on 9:30 is generated and displayed on 9:31
11:00 ~ 12:30
Trade Halts
- 11:02:19 ~ 11:07:19
- 11:08:22 ~ 11:13:31
- 11:13:59 ~ 11:19:09
- 11:19:34 ~ 11:24:35
- 11:24:58 ~ 11:30:03
- 11:30:45 ~ 11:35:49
- 11:36:57 ~ 11:41:59
- 11:46:19 ~ 11:51:33
- 12:01:46 ~ 12:06:49
- 12:11:25 ~ 12:16:33
11.28 a.m.: WeBull restricts activity on GME, AME, KOSS.
11:47 a.m.: On Twitter, Sen. Ted Cruz, R-Texas, agrees with statement by Rep. Alexandria Ocasio-Cortez, D-N.Y., that Robinhood’s restrictions were “unacceptable.”
12:30 ~ 2:00
2:00 ~ 4:00
Trade Halts
- 15:59:41 ~ 16:00:02
2:20 p.m.: Discord no longer banning WallStreetBets, says they are helping them with their new server.
2:35 p.m.: WeBull says GME, AMC, and KOSS are no longer restricted.
Note
There is a very subtle difference between the candlestick chart that I drew here and the one people can see on webull website. All other errors are mine. Thank you for reading it!
Code for the Graph
dy_graph = list(
dygraphs::dygraph(candle_min1[,c("Open","High","Low","Close",
'OHLmean','ma5','ma10')],
main = '$GME 1 Min Candlestick @roboticks',
group='chart',
width = 1200,
height = 600) %>%
dyCandlestick() %>%
dyLegend(width = 1000) %>%
dyOptions(axisLineWidth = 1.5,
useDataTimezone = TRUE) %>%
dyAxis('y', label = 'PRICE') %>%
dyAxis(name='x', drawGrid = FALSE) %>%
dyUnzoom() %>%
dyCrosshair(direction = "vertical")
,
dygraphs::dygraph(candle_min1[,c('volume')],
group = 'chart',
width = 1200,
height = 130) %>%
dyBarSeries('volume') %>%
dyCrosshair(direction = "vertical") %>%
dyOptions(axisLineWidth = 1.5,
useDataTimezone = TRUE)
)
# render the dygraphs objects using htmltools
htmltools::browsable(htmltools::tagList(dy_graph))Source
- WRDS NYSE Trades data
- USA Today News
- Trade Halt History
