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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Comments (93)

Jan 27, 2021 - 9:36pm

dude on a scale of 1-10 how happy are you right now?

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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Jan 25, 2021 - 11:00am

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.Β 

  • Intern in IB - Gen
Jan 25, 2021 - 12:06pm

Bought feb puts as well, the short squeeze will be over by then.

  • Analyst 1 in RE - Comm
Jan 25, 2021 - 12:59pm

Looks like it'll be peaking soon. I'm selling off most of my position and moving on to the next one.

Jan 27, 2021 - 1:49pm

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.Β 

you didn't make good choices; you had good choices

  • 1
Jan 27, 2021 - 1:59pm

Boy you're fucked. Tbh, you just betted a lot of $ on a coin flip.

I'dΒ keepΒ 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.Β 

Jan 27, 2021 - 2:09pm

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.Β 

Array

  • Associate 1 in AM - Equities
Jan 27, 2021 - 3:59pm

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.

Jan 27, 2021 - 9:18pm

Memberberries

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.Β 

Fundawhats now? Jesus I bet you eat your pizza with a fork too.

Array

  • Analyst 1 in RE - Comm
Jan 27, 2021 - 4:32pm

Who's still on this rocket ship? Got 100 shares at $16.50Β and still haven't gotten off. We'll see where the price goes tomorrow but curious who else has continued to hold.

  • Analyst 1 in RE - Comm
Jan 27, 2021 - 4:48pm

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.

Jan 27, 2021 - 4:54pm

Who's still on this rocket ship? Got 100 shares at $16.50Β and still haven't gotten off. We'll see where the price goes tomorrow but curious who else has continued to hold.

Grats on the paydayΒ 

Commercial Real Estate Developer

  • Analyst 1 in RE - Comm
Jan 27, 2021 - 9:19pm

Not paid quite yet but thanks. Already covered my cost basis so its house money to the moon.

  • Analyst 3+ in PE - Other
Jan 27, 2021 - 10:05pm

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.

πŸš€πŸš€πŸš€

Jan 27, 2021 - 4:37pm

Now I regret ignoring your stupid posts. I could have made some easy money out of you.

Never discuss with idiots, first they drag you at their level, then they beat you with experience.

Jan 27, 2021 - 7:30pm

"RyanΒ Cohen paidΒ about $75.9 millionΒ for his 9 million shares, an average price of about $8.43 per share. His stake isΒ 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…

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Jan 27, 2021 - 7:35pm

'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.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Jan 28, 2021 - 1:24am

IV on Puts is the highest i've ever seen to be honest, but god am I tempted...Β 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 biasΒ (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...Β 

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