Overnight Position
Categories: Trading
It's 4 pm in New York. You're a prop trader for a bank. You have a $100 million portfolio. Normally, you end your day all in cash. But every now and then, you leave open positions.
Tonight was one of those nights. You left yourself long $20 million in Amazon stock. And just like the company, Amazon keeps delivering, and your shares keep trading on markets around the world. So when you wake up, Amazon's stock price will have adjusted to whatever world events happened. And you left your position open, well, just because you thought lots of positive follow-through news would waft AMZN upward, under the announcement of their fully embracing unions and union culture in their firm, making all of their 300,000 workers around the world fully unionized.
Beat.
Actually, it was totally the opposite. They announced they'd be converting to 100% drone delivery pretty much everywhere in three years, and you thought the stock would go up nicely in the overnights on that news.
Yeah...Prime. Hard to beat.
