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re: GME short squeeze
Posted on 1/19/21 at 7:18 am to htcthc321
Posted on 1/19/21 at 7:18 am to htcthc321
And when I was talking about calls, I was not speaking of sell calls. I will not sell naked calls/puts or short a stock. I only buy calls/puts as that way I can only lose what I paid for the contract, and nothing more.
But yes I think if you do cash in on this GME squeeze, you need to get out before the front falls off. There is also just no way for this thing to go down with all the shorts. They have to buy the stocks to replace and if they shorted on margin, then the broker can buy to close for them, if they can't make the margin call.
Also unless you are on robinhood, most legit brokers just aren't going to let anyone buy options. And if you can buy options, then you most definitely should know that it is even riskier than just buying the stock. But the rewards are that much greater!
But yes I think if you do cash in on this GME squeeze, you need to get out before the front falls off. There is also just no way for this thing to go down with all the shorts. They have to buy the stocks to replace and if they shorted on margin, then the broker can buy to close for them, if they can't make the margin call.
Also unless you are on robinhood, most legit brokers just aren't going to let anyone buy options. And if you can buy options, then you most definitely should know that it is even riskier than just buying the stock. But the rewards are that much greater!
This post was edited on 1/19/21 at 7:19 am
Posted on 1/19/21 at 7:25 am to KickPuncher
Yeah I only buy calls, never sell. And I'm one to take a profit quickly. Two weeks ago I bought MARA $11 calls for $1.70 each on a Monday and sold at $3.00 on Tuesday. They hit $16+ later in the week lol
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