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re: So I bought some Gamestop(GME)
Posted on 1/26/21 at 8:21 pm to GAFF
Posted on 1/26/21 at 8:21 pm to GAFF
quote:
What will suspending the trading do? Seems like that would have a negative affect on the hedge fund.
Also 320c strikes are now available.
Probably give funds a chance to coordinate covering short positions instead of forcing them to do it open market.
0
Posted on 1/26/21 at 8:25 pm to southernelite
do we know which price puts melvin at 100% loss?
Posted on 1/26/21 at 8:27 pm to rocket31
Some autists did the math and I think they are at a 100% loss at the AH price. Now that’s based on some assumptions and some old data so who knows if that’s true.
It is likely true that melvin may have already burned through that 2.7 b bailout
It is likely true that melvin may have already burned through that 2.7 b bailout
Posted on 1/26/21 at 8:28 pm to JohnnyKilroy
1) what is it about this melvin guy in particular to make wsb wage this war against him? Im sure hedge funds do this kinda thing all the time, what's so special about this case?
2) when he does have a total loss will it be 'game over' and everyone sell their shares at that point?
2) when he does have a total loss will it be 'game over' and everyone sell their shares at that point?
Posted on 1/26/21 at 8:30 pm to castorinho
My favorite quote:
quote:
the rally cry on r/wallstreet bets:
"we can remain retarded for longer than they can stay solvent!"
Melvin lost $2B+ in like 2 weeks, and just had to get bailed out by 2 other funds just to cover it's losses from the shorts.
Posted on 1/26/21 at 8:30 pm to JohnnyKilroy
quote:
It is likely true that melvin may have already burned through that 2.7 b bailout
It’s funny because Ciatdel bailed them out with gains they took on the opposite side. Citadel will literally own Melvin by the end of the week.
ETA: Citadel pays Robinhood for their order flow. They have to know how much GME is sitting in Robinhood accounts.
This post was edited on 1/26/21 at 8:32 pm
Posted on 1/26/21 at 8:31 pm to GAFF
quote:
Also 320c strikes are now available.
First dip tomorrow and it's time to yolo.
This post was edited on 1/26/21 at 8:33 pm
Posted on 1/26/21 at 8:33 pm to southernelite
quote:
ETA: Citadel pays Robinhood for their order flow. They have to know how much GME is sitting in Robinhood accounts.
Yep. Wsb are removing their stop losses because melvin has access to that data
Posted on 1/26/21 at 8:37 pm to TheChosenOne
Explain 320c strikes please
Posted on 1/26/21 at 8:37 pm to ThereGoesHerschel
this started months ago when Andrew left kept talking shite about gamestop over Twitter while also shorting the stock with Melvin Capitol.
wsb found the publicly listed short position under the hedge fund and then effectively declared war
wsb found the publicly listed short position under the hedge fund and then effectively declared war
This post was edited on 1/26/21 at 8:38 pm
Posted on 1/26/21 at 8:38 pm to TigeRoots
quote:
Getting a bad feeling about this SEC stepping in nonsense. Getting the wrong kind of pub now. Looking back I guess we were too naive to think it wouldn’t happen. That said, diamond hand here!
This would open up Pandora’s box. There is nothing to gain from the SEC stepping in and there really is no justification.
Posted on 1/26/21 at 8:38 pm to ThereGoesHerschel
quote:Well Melvin is trying to make a profit on betting on a US company losing value and going bankrupt. How greedy do you have to be to continually short GME at $4, squeezing every penny out of them.
1) what is it about this melvin guy in particular to make wsb wage this war against him? Im sure hedge funds do this kinda thing all the time, what's so special about this case?
quote:
A new opponent enters the ring:
?
LINK
That’s right, the same Citadel listed by the NYSE as one of their designated market makers is now invested in Melvin’s hedge fund and has a financial interest in the direction of GME’s share price
And why that is important about the market makers:
quote:
I believe market-makers took a non-neutral stance and began actively shorting the stock after the second halt.
Market-makers are responsible for maintaining liquidity and functioning in the stock market, but they also have abilities that others don’t - for example they are legally allowed to naked short for “liquidity purposes”. They also have the ability to halt trading.
There were two halts in the day on Friday: First, when GME was up 69% (heh heh), and then a few minutes later when it kept climbing after the first halt was relaxed. Note that at the time of the first halt, the bid-ask spread was $10 on the underlying a huge signal that there just were not enough shares to buy.
However, after the second halt, something strange happened. Whereas a few minutes prior, there were no sellers willing to sell their shares below $75, within 15 minutes after the halt there were sellers at 70, 65, 60, and 56. Where did these sellers come from?
LINK /
This post was edited on 1/26/21 at 8:41 pm
Posted on 1/26/21 at 8:39 pm to rocket31
quote:
this started months ago when Andrew left kept talking shite about gamestop over Twitter while also shorting the stock with Melvin Capitol.
wsb found the publicly listed short position under the hedge fund and then effectively declared war
Really started back in July with DFV’s DD on YouTube
Posted on 1/26/21 at 8:39 pm to southernelite
quote:
Citadel pays Robinhood for their order flow. They have to know how much GME is sitting in Robinhood accounts.
A market maker with a stake in a hedge fund...talk about something the SEC should stop.
Posted on 1/26/21 at 8:40 pm to southernelite
quote:
Ciatdel bailed them out with gains they took on the opposite side. Citadel will literally own Melvin by the end of the week.
this becoming public information was ultimately one of the worst possible scenarios for Melvin as it just galvanized wsb even more
I'm not sure if these hedge funds thought it would scare or deter wsb away from the trade if multiple hedge funds combined together? but the exact opposite happened
This post was edited on 1/26/21 at 8:43 pm
Posted on 1/26/21 at 8:40 pm to 13SaintTiger
guess that's technically correct
Posted on 1/26/21 at 8:42 pm to ThereGoesHerschel
quote:nothing against him personally
1) what is it about this melvin guy in particular to make wsb wage this war against him? Im sure hedge funds do this kinda thing all the time, what's so special about this case?
quote:it boils down to this quote
2) when he does have a total loss will it be 'game over' and everyone sell their shares at that point?
"we can remain retarded for longer than they can stay solvent!"
Posted on 1/26/21 at 8:45 pm to castorinho
Melvin a hedge fund, not a guy. That guy is Gabriel Plotkin.
Posted on 1/26/21 at 8:49 pm to Happygilmore
quote:
Explain 320c strikes please
Call options with a $320 strike price
Posted on 1/26/21 at 8:50 pm to rocket31
quote:
this becoming public information was ultimately one of the worst possible scenarios for Melvin as it just galvanized wsb even more
Honestly this isn't really WSB driving this anymore. Big money has stepped in looking to punish Melvin and now Citadel.
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