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Wally Fairway

By Wally Fairway
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Dbeasy

Dbeasy 15072

Posted
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19 hours ago, TheFlyingBoat said:

The best Roaring Kitty video from 6 months ago calling just this: 

 

I’ve never heard of this RoaringKitty guy but noticed via Google he’s all over social media. What’s his angle? Why is he doing all of this? Just to advance his trading positions? 

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Hank_Hill
Hank_Hill

Haven't mentioned it because didn't need naysayers because it is stupid, but I'm a med student doing this almost purely on my student loans while they're at zero interest. I've made +$20k since Decemb

Hank_Hill
Hank_Hill

The real treasure is the friends we make along the way

BradInATX
BradInATX

As long as 700% APR payday loans exist, you can fuck right off with "protecting people from themselves".

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TheFlyingBoat

TheFlyingBoat 906

Posted
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4 minutes ago, Dbeasy said:

I’ve never heard of this RoaringKitty guy but noticed via Google he’s all over social media. What’s his angle? Why is he doing all of this? Just to advance his trading positions? 

Just a cool dude I guess that likes to talk. He sounds like a former high school debater ergo he likes the sound of his own voice? He is smart and wanted others to know it so he likes to do it for the adulation? I mean who knows? We could psychoanalyze it all or just accept it was incredible DD and it helped make a lot of people a lot of money while punishing a bunch of greedy morons. Today was a good day 

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Anastasis

Anastasis 23477

Posted
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5 minutes ago, Hank_Hill said:

Well, mad I sold my GME call. Not mad I bought a slightly higher one shortly after.

Thank sweet baby jesus it dipped this morning and I could exit, or I would be eating shit hand over first right now.  And just like that is goes from 140 to 122 and gets halted again.  What a ride. 

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ChickenSandwich

ChickenSandwich 9843

Posted
Posted
2 hours ago, HoustonHorn said:

Took some profit on XMET and put some more into TSNP. Still have 1M shares of XMET that I'll sell off 200k shares at $0.5 and 500k at $1 if it gets there and hold the remaining 300k to retire on if it goes ALPP.

Hoping to see TSNP go through the roof so I keep accumulating.

Had been waiting for TSNP to dip under .40 to accumulate more shares, but maybe that's not going to happen?

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Trey3216

Trey3216 15349

Posted
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4 minutes ago, Blotto said:

According to Etrade, theres like 120K contracts ITM for options expiring this week. I'm sure not all of these are naked, but seems like there some more pain to come, no? 

That's 12 million shares, or nearly double the average daily shares traded (prior to the past 10 days or so).   

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Blotto

Blotto 23560

Posted
Posted

Nothing particularly new here: https://www.institutionalinvestor.com/article/b1q8swwwtgr7nt/Buried-in-Reddit-the-Seeds-of-Melvin-Capital-s-Crisis

but these quotes cracked me up: 

Quote

On Monday, Point72 agreed to invest $750 million, and Citadel is investing $2 billion. Both are taking a non-controlling passive revenue share in the firm. 

“Gabe Plotkin and team have delivered exceptional results over the history of Melvin. We have great confidence in Gabe and his team,” Ken Griffin, founder and CEO of Citadel, said in a statement.

Steve Cohen offered his testimonial as well: “I’ve known Gabe Plotkin since 2006 and he is an exceptional investor and leader. We are pleased to have the opportunity to invest additional capital and take a non-controlling revenue share in Melvin Capital.”

Lets check back in next Monday, lulz.

giphy.gif 

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TheFlyingBoat

TheFlyingBoat 906

Posted
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1 minute ago, Anastasis said:

OMFG.  

Thank god you sold. Holy fuck. Will probably be 300 mid-day tomorrow when Citadel says "yeah we're cutting you off after that final billion we promised ya, Melvin" and the hedge fund has to close all their positions following a good ol margin call tonight.

Edited by TheFlyingBoat
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Eastwood

Eastwood 4394

Posted
Posted
8 minutes ago, Blotto said:

Youre still in half your position correct? You gonna ride this thing out until Friday? I wouldn't even begin to know when the right time to get the fuck out of this trade is. insanity.

I'm still in half. I'm holding until who knows when. I'm still trying to wrapped my brain around how they make this right. At these prices, it could be a total short recall. But there aren't enough shares in existence to recall.

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Anastasis

Anastasis 23477

Posted
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Just now, Eastwood said:

I'm still in half. I'm holding until who knows when. I'm still trying to wrapped my brain around how they make this right. At these prices, it could be a total short recall. But there aren't enough shares in existence to recall.

Seriously, thanks for you post on the other thread or this one breaking down this situation.  It spooked me enough to make sure I was ready to quickly tuck tail and run. 

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TheFlyingBoat

TheFlyingBoat 906

Posted
Posted
Just now, Eastwood said:

I'm still in half. I'm holding until who knows when. I'm still trying to wrapped my brain around how they make this right. At these prices, it could be a total short recall. But there aren't enough shares in existence to recall.

Tbh I could see us going to 1000+ as brokerages force position closures and shorts are forced to pay shareholders to part with shares they just had returned to them. This will be the most impressive squeeze of all time 

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Eastwood

Eastwood 4394

Posted
Posted
Just now, Hank_Hill said:

So, we’re currently in a gamma squeeze unless they open more calls. Correct?

We could be in the short squeeze now. As the shorts weigh heavy on the various books, the brokers will margin call them. When they don't have money to cover the margins, all of their positions get liquidated by the brokers and the proceeds are used to make the shorted shares whole.

But there aren't enough shares.

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Wally Fairway

Wally Fairway 5567

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4 minutes ago, Eastwood said:

We could be in the short squeeze now. As the shorts weigh heavy on the various books, the brokers will margin call them. When they don't have money to cover the margins, all of their positions get liquidated by the brokers and the proceeds are used to make the shorted shares whole.

But there aren't enough shares.

and that is contagion, as the rest of the market goes down to cover the margin calls
pretty sure we saw the trailer for this market move yesterday, just wait for the full feature crash

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Eastwood

Eastwood 4394

Posted
Posted
5 minutes ago, Wally Fairway said:

and that is contagion, as the rest of the market goes down to cover the margin calls
pretty sure we saw the trailer for this market move yesterday, just wait for the full feature crash

When it hit 150 yesterday and the entire market dropped 1.5%, that was probably someone getting absolutely melted. A person might be able to time buying opportunities as short hedge funds fall one by one.

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Blotto

Blotto 23560

Posted
Posted (edited)
13 minutes ago, Wally Fairway said:

and that is contagion, as the rest of the market goes down to cover the margin calls
pretty sure we saw the trailer for this market move yesterday, just wait for the full feature crash

Friday $370 SPY Puts (implying a ~3.5% drop) seemed pretty cheap ($0.22) so I bought a chunk. In reality, GME is probably way too insignificant to really to spark a contagion, but what the hell. Im still pissed for not buying the $80 calls I had loaded up this morning. I tripped over my panties on the way to hit "enter" and now look at me.....gambling on SPY puts like a degen. 

Edited by Blotto
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