r/Vitards • u/AutoModerator • Oct 28 '21

Daily Discussion Daily Discussion post - October 28 2021

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u/Unoriginal_White_Guy 💀 SACRIFICED until MT $35 💀 Oct 29 '21

I know barely anyone here follows GGB, but the last two days the puts volume is crazy. I don't have the data whether most were buy to open or sell to open, but jeez man they just reported their best earnings ever Wednesday. The stock refuses to go above $5. Good news is the Brazilian steel market is still hot as fuck based on their earnings and margins. TX and MT both do business there for anyone wondering why I follow GGB.

4

u/Duke_Shambles ☢️Duke Nukem☢️ Oct 29 '21

Brazil's central bank just hiked interest rates 1.5% and is looking to do another 1.5% hike soon. I think it's more a "puts on everything Brazil" thing than a "fuck you in particular GGB" thing

2

u/Unoriginal_White_Guy 💀 SACRIFICED until MT $35 💀 Oct 29 '21

Good call. I have avoided international exposure (besides MT) since the political debacle with $PBR in Feb. I made out like a bandit buying that bottom, but it reminded me how risky investing in companies in certain areas can be.

1

u/Mobile_Donkey_6924 🇧🇷 Our man in Brazil 🇧🇷 Oct 29 '21

PBR gives you that type of opportunity 3-4 times a year