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Wally Fairway

By Wally Fairway
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Wally Fairway

Wally Fairway 5587

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21 minutes ago, Anastasis said:

So what is going to break this gamma situation?  Expiration on Friday?

I don't know how to tell you this but there is an options expiration on every Friday, so lacking somebody covering shorts or prices falling, or just leveling off, gamma doesn't stop until there are enough shares for sellers of calls to buy to cover the obligations for in the money expirations, Next Monday will be crazy again if prices hold, as somebody has to buy shares to deliver, and there aren't enough so the price goes up (to the moon)

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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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Blotto

Blotto 23579

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22 hours ago, Blotto said:

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. 

$370 you say.......getting closer. At $3.60 per contract now....two days left. Already sold 20% to cover my costs, so this is a free ride, and why I'm not doing the prudent thing and selling at a 15X profit. gonna see what those weaponized autists can do for awhile longer. 

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936horn

936horn 919

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5 minutes ago, Cheeseweasel said:

We'll see. I'm not confident that they won't step in and protect their Wall Street Buddies.

While I agree, what a terrible look that'd be for your 10th day as president after running a "for the people" campaign. Political suicide.

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Gourmand

Gourmand 7774

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21 minutes ago, Wally Fairway said:

Just reading this makes me weep, for the calls that I did not buy

I have 10 Jan 29th calls from September for $5500 solely on Eastwood's rec that are now worth $336,000 in my ThinkorSwim account...

 

And by that I mean the paper trading one, not the live account. I want to die.

 

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Cheeseweasel

Cheeseweasel 26438

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1 minute ago, longhornmatt said:

I know others disagree, but at some point I expect more places will halt trading and the SEC will eventually try to get some of the ringleaders who cash out big on these for some form of pump and dump.  Jim Cramer doesn’t give a buy recommendation on a stock without any disclosure that he owns it and on the rationale that he can exploit info on how overexposed short sellers are.  

What’s going on here is not as clear as some textbook example of an insider lying about the company having a giant new growth opportunity on the horizon and then dumping the stock, but I think they’ll still try get some of these people.  There are going to be guys that make like 90x returns on this and other retail investors that get left holding a giant bag, not to mention the institutional investors who lose their shirts on the short sales.  That’s a recipe for regulators to do something, and the rationale the ringleaders who started this used for pumping the stock is sufficiently sketchy that I’d be worried if I were them and took big gains. 

It sucks that The Big Hats do this all day long & make huge bonuses but when shit goes bad, it's time for more regulation. 

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Cheeseweasel

Cheeseweasel 26438

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Just now, 936horn said:

Ultimately what should come out of this, if you want regulation, is that there should be restrictions preventing shorting >100% of the available fucking float

That's a reasonable place to start. It should be even less than that but we didn't make the rules. They are bitching about the rules now that they are hurt by them

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Bone3421

Bone3421 716

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It is interesting that the "market media" still just wants people to think that it's a bunch of dummies buying worthless stock instead of talking about how it's the squeeze everyone is chasing....margin call the shorts and Jack this think up to 1k so we can get on with our lives/other stonks

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52-80

52-80 19256

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1 minute ago, 936horn said:

Ultimately what should come out of this, if you want regulation, is that there should be restrictions preventing shorting >100% of the available fucking float

shorting stock is not illegal

shorting stock is healthy.  risky, but healthy.

naked short selling is what got them here (shorting sales not confirmed to be borrow).  it IS illegal, but apparently is very ill-enforced

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BradInATX

BradInATX 9208

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I bought $10k worth of GME this morning at 295 and sold this afternoon at 338.

Going to make a shirt that says "I rode the 2021 Gamestop Ride and survived it intact". 

 

My heart can't handle that shit. The swings were insane. I watched it swing 40 points in three minutes at one point in early afternoon. I'm not made for the stonks game. Imma take that $1500 I made and buy some discounted, safe, beautiful $SPY.

Edited by BradInATX
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B00M

B00M 6466

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2 minutes ago, Cheeseweasel said:

Open a brokerage account (Fidelity is great). Throw in cash. Profit.

Can't go wrong with fidelity but it can take some time to move in $$ and you may have to call them to get certain liberties. TD Ameritrade can choke on dick. It really doesn't seem like you can go wrong with robinhood but I haven't used it. Really, almost anything but TD Ameritrade. 

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936horn

936horn 919

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2 minutes ago, 52-80 said:

shorting stock is not illegal

shorting stock is healthy.  risky, but healthy.

naked short selling is what got them here (shorting sales not confirmed to be borrow).  it IS illegal, but apparently is very ill-enforced

That's exactly my point. Sorry if we don't feel bad for some hedge funders who are levered to the tits on a short that is at 140% of the available float as of last week. 

Like pops always said, pigs get fat but hogs get slaughtered.

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Bone3421

Bone3421 716

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I bought $10k worth of GME this morning at 295 and sold this afternoon at 338.
Going to make a shirt that says "I rode the 2021 Gamestop Ride and survived it intact". 
 
My heart can't handle that shit. The swings were insane. I watched it swing 40 points in three minutes at one point in early afternoon. I'm not made for the stonks game.
Need
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BradInATX

BradInATX 9208

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1 minute ago, Bone3421 said:

Need emoji184.pngemoji870.png

 

I dipped into the Reddit thread, but am not up to speed with the memes. 

Are any of you guys actually going to play this out through Friday? I don't have the marbles for that I don't think. I read that the Whitehouse is keeping tabs on it. Biden is a corporatist, and when corporatists are in charge (AKA always), they're not going to allow the big institutions to lose money to the little guys. That and the adrenaline overload ran me back to safety.

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WBT

WBT 20670

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3 minutes ago, B00M said:

Can't go wrong with fidelity but it can take some time to move in $$ and you may have to call them to get certain liberties. TD Ameritrade can choke on dick. It really doesn't seem like you can go wrong with robinhood but I haven't used it. Really, almost anything but TD Ameritrade. 

What are the issues with TDA?

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Bone3421

Bone3421 716

Posted
Posted
 
I dipped into the Reddit thread, but am not up to speed with the memes. 
Are any of you guys actually going to play this out through Friday? I don't have the marbles for that I don't think. I read that the Whitehouse is keeping tabs on it. Biden is a corporatist, and when corporatists are in charge (AKA always), they're not going to allow the big institutions to lose money to the little guys. That and the adrenaline overload ran me back to safety.
I put a spare 500$ in at 38$ been holding ever since...plan on holding until I see the squeeze since I'm not that invested....wish I knew about it earlier but still doing ok
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DonkeyCigars

DonkeyCigars 143

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What are some other examples of companies that are horrible and shouldn't exist in 2021 that are pathetic and are trading that way? I want to get in on the ground floor before the next stock is a meme.

Newspaper stocks?

Railroad stocks?

We already got the neo-Blockbuster and movie theatre industry covered, obv.

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BradInATX

BradInATX 9208

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1 minute ago, Bone3421 said:
4 minutes ago, BradInATX said:
 
I dipped into the Reddit thread, but am not up to speed with the memes. 
Are any of you guys actually going to play this out through Friday? I don't have the marbles for that I don't think. I read that the Whitehouse is keeping tabs on it. Biden is a corporatist, and when corporatists are in charge (AKA always), they're not going to allow the big institutions to lose money to the little guys. That and the adrenaline overload ran me back to safety.

I put a spare 500$ in at 38$ been holding ever since...plan on holding until I see the squeeze

Wow. Almost 10x return already. Get you some. 

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BradInATX

BradInATX 9208

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Just now, DonkeyCigars said:

Kinda both.

Well, you've got to have coordinated volume to squeeze them, so you've just got to figure out the next one that Reddit is going to put its weight behind.

When I was reading the main GME thread, they were already talking about 4-5 other stocks. I'd be concerned about them losing focusness and the advantage of everyone pumping one single company up. But if you can time it right...

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936horn

936horn 919

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4 minutes ago, DonkeyCigars said:

Kinda both.

Not really. People saw a fundamental disconnect with a stock that was overshorted to hell, had a new board member in the form of the dude who launched Chewy.com, had more cash than debt, still had large inroads with major gaming companies (sony, ms, nintendo) and decided they could take advantage. The shorts could have unwound $250 ago and taken the L. Instead they dug in and are rightfully going to get absolutely donkey dicked on this one. It maybe started with a couple dudes meming but I guarantee the larger % of people (and other funds now) that are in, saw the opp, smelt the blood in the water, and went for the kill.

 

ps - the GME dude on reddit is up to 48mm now.

https://www.reddit.com/r/wallstreetbets/comments/l6ekdz/gme_yolo_update_jan_27_2021_guess_i_need_102/

Edited by 936horn
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Continental Op

Continental Op 3934

Posted
Posted (edited)
1 hour ago, hayden_horn said:

i posted a hot take opinion on netflix circa 2012. "their content is not great, and those costs are only going to go up."

currently at $533

We discussed this in the Grown Up Investors thread the other day.  I couldn't have been more wrong about Netflix. 

As for me I used today's pullback to buy OOTM DIS calls at various levels today because when earnings drop in a few weeks everyone's dicks will get hard over the Disney+ subscriber numbers and then they'll just hear the Charlie Brown teacher voice when Chapek talks about pretty much everything else, which is all  bad. 

Edited by Continental Op
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