DRC #165/2025

10/17/25 | B | +3.26R (-0.22R in comms, fees & locates)

OVERVIEW: Less active day in SC but still a good number of smaller runners; capitalized on most of them. Executed well again, time to size back up next week.

RANI was the headache name du jour. Took an L on it earlier trying to trade around a position and then cut it when it reclaimed VWAP and made a HH. Didn’t revisit after, just too grindy/controlled. Surprising that a 50M share float goes 350%, rarely see that.

The GLD MR trade was the potentially huge setup of the day but unfortunately it didn’t hold the overnight gap and opened flat/slightly down. I’m not much of a commodities trader and that negated the idea for me; it was gap up or pass for me.