GME - Real Time to Short?
GME bumped 50% today, high point around 75% I think. I bought several $100K February puts at around $68. Am I fucked or will I be retiring soon?
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Wait you opened a 100k position? If so, you literally might be homeless soon
Or the next Elon Musk
Aged like milk this
The guys investment did go to $0 given he bought $68 puts for February...
Be sure to share the progress pics with us!
dude on a scale of 1-10 how happy are you right now?
100/10 I'm pretty happy with how it's played out so far. I'm no /u/DeepFuckingValue but I'll say it's been life changing.
Following with popcorn in hand
Bye bye
40 feb $60 strike and 40 $50 strike. Huge yolo gamble. Ready for $50k loss.
lol at least you're ready
Do you really think it will still rise? Time for correction hopefully
Up 92% today
RIP
F to pay respects boys
RIP
RIP Melvin - you can't win against WSB
Any idea if they're still trying to cover their short today? Or did the already cut their losses? Stock is up another 100% today, so if they still haven't covered...RIPPP
According to short data, they haven't.
What a day...
I gradually unloaded my puts this morning as shit is getting real. Ended up with $5k loss. Time for next yolo. Love how slow the otm put market is reacting.
Puts were a smart way to play this, vol got absurd and bailed you out haha
Any idea if Melvin is still trying to cover their short today? Or did the already cut their losses? Stock is up another 100% today, so if they still haven't covered...RIPPP
Stock has been halted 4 times so far and it's not even noon. Holy shit. 🚀🚀🚀
Love being being onboard the autist train 🚀🚀
I made more today than boss has in the last 2 years... god I love WSB
.
.
Bought feb puts as well, the short squeeze will be over by then.
Brave assumption intern
Please google margin call
If the premiums on the options weren’t crazy if be buying pita. This company is trading at 30x EBITDA, which is exactly in line with Salesforce‘s multiple and That makes absolutely no sense whatsoever
The short squeez is already over. God damn I feel like an idiot for selling those puts now. This is life man.
My only regret is not buying january 29 puts
Already over? I think there’s more to come honestly.
Looks like it’ll be peaking soon. I’m selling off most of my position and moving on to the next one.
The premium on puts today are insane so imma sit this one out
what are y’all looking at for the next 10x bagger lotto plays?
It's insane because the puts I bought last Friday actually jumped by 10% in value. I am an idiot for selling those this morning.......
I’ve been hearing Nokia and Blackberry.
Look at Market Capitalization.
BBBY is doable
NOK is a giant that won’t even feel the mosquito bite we could do to it yet.
BB and PLTR to the moon
And it’s back to $70, what a ride
There might be one more big surge left tomorrow, those wsb people never sell.
I think based on your prior threads, reducing your fiance's spending would be a smarter financial move
LOL I ended up with $5K loss luckily.
Good on ya. All in good fun brah
thebrofessor LMAO gottem
I really hope you covered
Yes I sold out the puts in the morning yesterday. Ended up with $5K loss. The put market reacted very slowly to the surge so I got lucky LOL.
After hours now up to $250. This is the most dramatic short squeeze in history
It seems like if you buy both puts and calls, you can't lose.
Wait you mean, you can play both sides and always come out on top? I'M IN.
How are yall trading? Have you guys been simply submitting request to buy stock/options through your bank's compliance and getting them cleared?
Yup I can’t participate because of holding periods smh
Me either bro it fuckin sucks...60 day min holding period here
you're making the false assumption that everyone follows the rules.
knowing Robinhood's lack of thoroughness with systems, it wouldn't shock me if they didn't even have a rule 3210 questionnaire in their account opening process.
They didn't when I set one up but that was years ago.
Can we get an F in the chat for our boy
Here’s another example of how wild this market is. I bought a few GME $60 puts when the stock was at $150. Sold out when the stock hit $300 and MADE MONEY on my puts that are now $250 out of the money, because there is so much speculation on both sides of the trade right now.
Boy you're fucked. Tbh, you just betted a lot of $ on a coin flip.
I'd keep tabs on WSB thread.
Amount of activity & sentiments there is actually highly representative of the way retail investors trade. But be mindful of the silent "majority" of more "reasonable" retail investors with limit orders on either side of the profit/loss.
Good news for you is that. There's lots of institutional money wanting for GME to go down. Institutional support of the price going up are opportunistic and will gladly pull out at any potential loss.
Can anyone explain the fundamentals behind the dramatic 2020/21 GME rise? I'm not seeing a fundamental change that could justify a 7,500% increase the last 12 months.
Fuck fundamentals, boomer
There isn't anything that backs this up
eFfIcIeNt MaRkEtS hYpOtHeSiS
It’s “market” not “markets” - FYI
It’s a pure momentum play. It was intended that way from the start. Some few recognized the short interest, recognized the high liquidity of the options, publicized on public forums, and sat back to watch the dealers, HFs, and retail investors push the price higher. Actually very smart play by whoever started it. I’m sure they are long gone by now though. Now its just a constant cycle on its own just pushing higher until the interest is gone.
2% OTM Call was 1%
1% OTM Call was 2%
ATM Call was 4%
this allowed many WSB bets to DOUBLE
Fundawhats now? Jesus I bet you eat your pizza with a fork too.
PLTR baby let’s go
Who's still on this rocket ship? Got 100 shares at $16.50 and still haven't gotten off. We'll see where the price goes tomorrow but curious who else has continued to hold.
In for 103 shares at an average of 89
Nice, still making a tidy profit. You seeing the trading volume falling off today?
Definitely am debating taking my profits tomorrow and moving on to the next one.
Grats on the payday
Not paid quite yet but thanks. Already covered my cost basis so its house money to the moon.
3k shares + a bunch of options reporting for duty. Diamond hands till this shit goes to $1000 or $0, whichever comes first. It's not even about the money anymore, it's about sending a message.
🚀🚀🚀
Now I regret ignoring your stupid posts. I could have made some easy money out of you.
“Ryan Cohen paid about $75.9 million for his 9 million shares, an average price of about $8.43 per share. His stake is worth about $1.3 billion at yesterday’s closing price, or I guess twice that after Musk’s tweet.”
https://www.bloomberg.com/news/newsletters/2021-01-27/reddit-driven-sur…
‘Dumb Money’ Is on GameStop, and It’s Beating Wall Street at Its Own Game
https://www.google.com/amp/s/www.nytimes.com/2021/01/27/business/gamest…
“GameStop’s market value increased to over $24 billion from $2 billion in a matter of days. Its shares have risen over 1,700 percent since December. Between Tuesday and Wednesday, the market value rose over $10 billion.
IV on Puts is the highest i’ve ever seen to be honest, but god am I tempted... Is it better to sell a call spread and capitalize on the high IV vs loading Puts? Trying to craft a trade here with downside bias (spreads seem like the only option?) but pricing on the chain is so F’d. Should I just shy away? Anyone come up with any ideas? Pretty obvious this thing wont be $200+ a year from now...
I am trying to figure this out as well. The premium on the options are stupid high, but thinking about going in anyways unless there’s a better way of doing it.
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