It was about a story that came out today in the WSJ about a big Trump Donor helping fund the #EllipseRally in D.C.
Great reporting by @rebeccaballhaus @shalini @AlexandraBerzon
2/
đź’ĄThis is a story about a supermarket chain.
- One of the largest employers in the U.S. (~193,000 employees)
- ~$38 B in revenue
- 1200+ locations in 7 states
- Employee owned with majority shares still owned by the Jenkins family members
It’s called PUBLIX
THREAD
1/
It was about a story that came out today in the WSJ about a big Trump Donor helping fund the #EllipseRally in D.C.
Great reporting by @rebeccaballhaus @shalini @AlexandraBerzon
2/
Julie gave $300,000 to help fund that rally.
But this THREAD is also about PUBLIX.
4/
But that’s another story.
5/
🤔
6/
Again, it’s pretty interesting to ME that she found a kindred spirit who is also in the same industry as her dad
(Cough)
7/
8/
The entire Jenkins family is about conservative values. Giving back and supporting Republicans.
As the story tells us
9/
She supported an effort, giving $800K to a conservative group fighting making marijuana from becoming legal.
PUBLIX pharmacy is huge
10/
Getting caught by the SEC after several decades, finally gave Julie the opportunity to step away from the company in 2018.
11/
- PUBLIX doesn’t support a raise in the minimum wage
- They don’t seem to have a good tract record with LGBTQ community
12/
- Fighting legal marijuana (they have a large opiate business)
- Refusing to sign labor-protections for farm workers
- Top employees donated to a NRA gun advocate Adam Putnam
- Parkland students staged die-ins at PUBLIX
13
Julie can provide monies to who she chooses, however, maybe it’s time to give PUBLIX and all their businesses another deeper look.
My guess? No one will do it.
Support PUBLIX? Might be your only store to go to
14/
More from Finance
Ok here is the explanation. Grab a cup of coffee and read on. If you have not read/noticed this, you will see intraday options movement in a new light.
Say we have two options, one 50 delta ATM options and another 30 delta OTM option. Normally for a 100 point move, the ATM option will move 50 points and the OTM option will move 30 points. But in a high volatile environment, the OTM option will also move nearly 50 points
To understand why this happens, first understand why an ATM option is 50 delta. An ATM option has the probability of 50% of expiring as ITM. The price just has to close a rupee above the strike for the CE to be ITM and vice versa for PEs
Now think of a highly volatile day like today. If someone is asked where the BNF will close for the day or expiry, no one can answer. BNF can close freakin anywhere, That makes every option of an equal probability of being ITM. So all options have a 50% probability of being ITM
Hence, when a huge volatile move starts, all OTM options behave like ATM options. This phenomenon was first observed in the Black Monday crash of 1987 at Wall Street, which also gave rise to the volatility skew/smirk
In a high IV environment or when the market is very volatile
— Subhadip Nandy (@SubhadipNandy16) January 21, 2022
" OTM options will behave like ATM options", one will get almost the same delta movement
Say we have two options, one 50 delta ATM options and another 30 delta OTM option. Normally for a 100 point move, the ATM option will move 50 points and the OTM option will move 30 points. But in a high volatile environment, the OTM option will also move nearly 50 points
To understand why this happens, first understand why an ATM option is 50 delta. An ATM option has the probability of 50% of expiring as ITM. The price just has to close a rupee above the strike for the CE to be ITM and vice versa for PEs
Now think of a highly volatile day like today. If someone is asked where the BNF will close for the day or expiry, no one can answer. BNF can close freakin anywhere, That makes every option of an equal probability of being ITM. So all options have a 50% probability of being ITM
Hence, when a huge volatile move starts, all OTM options behave like ATM options. This phenomenon was first observed in the Black Monday crash of 1987 at Wall Street, which also gave rise to the volatility skew/smirk
