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re: GME short squeeze
Posted on 1/19/21 at 6:19 am to Upperdecker
Posted on 1/19/21 at 6:19 am to Upperdecker
So looking at the Volkswagen chart, that squeeze seemed to occur over the span of a few months? I have some MARA calls that will be green at opening. Thinking about dumping them for GME calls. What date & strike do you think?
2
Posted on 1/19/21 at 6:37 am to htcthc321
Large short squeezes occur over weeks or months yea unless there’s a specific event to force the squeeze to occur. I don’t think VW is a great comparison. VW was essentially forced into a squeeze overnight. My best comparison for this is Overstock, which went from $2 to $120 in 2020 on mostly short squeeze. It took a couple months and didn’t have a specific hard trigger. But it also had a lot less short interest, so lower squeeze top
For calls I’d look for something like $50c 1/29, since that gives it a bit of time but you’re not gonna shell out too much. But IV is crazy right now so idk how it will react to the open today
For calls I’d look for something like $50c 1/29, since that gives it a bit of time but you’re not gonna shell out too much. But IV is crazy right now so idk how it will react to the open today
This post was edited on 1/19/21 at 6:44 am
Posted on 1/19/21 at 6:55 am to htcthc321
Hell I was thinking on calls at least past April, if not summer. I think their next earnings report is in March and should do even better than their previous one, which beat expectations.
Posted on 1/19/21 at 7:00 am to Upperdecker
quote:
For calls I’d look for something like $50c 1/29, since that gives it a bit of time but you’re not gonna shell out too much. But IV is crazy right now so idk how it will react to the open today
y’all need to be real careful about taking investment advice here especially that specific. Upperdecker is suggesting what HE would do, not what YOU should do
a poster above mentions selling some calls in another ticker to take calls in GME. This is straight up gambling, which is fine, as long as it’s acknowledged here and we don’t get people just blindly following along with their money
shite like this can go south in a blink
Posted on 1/19/21 at 7:06 am to KickPuncher
Issue with long term calls is if it doesn’t squeeze in the next week or so, then it could be a while. And I don’t expect earnings to be good. The short supply of new consoles is hurting them
Posted on 1/19/21 at 7:07 am to cgrand
Appreciate the advice Upperdecker. I'll see what it looks like at opening.
And I see options as just that, gambling lol. I'm playing with house money in my account right now from BNGO's run a few weeks ago. I'm not gonna throw significant money at GME
And I see options as just that, gambling lol. I'm playing with house money in my account right now from BNGO's run a few weeks ago. I'm not gonna throw significant money at GME
Posted on 1/19/21 at 7:11 am to cgrand
quote:
y’all need to be real careful about taking investment advice here especially that specific. Upperdecker is suggesting what HE would do, not what YOU should do a poster above mentions selling some calls in another ticker to take calls in GME. This is straight up gambling, which is fine, as long as it’s acknowledged here and we don’t get people just blindly following along with their money shite like this can go south in a blink
Yes you’re right. I’ve already mentioned I sold most of my calls. I wouldn’t recommend investing a significant amount of money here in calls. If you want safer long term exposure, shares are the way to go. With IV as high as it is, it’s definitely gambling
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 7:22 am to Upperdecker
quote:Long term calls on GME, IMO are much safer than buying a week or two, no doubt. Granted you can still probably make some good money on the shorter options, but I would say they are much riskier.
Issue with long term calls is if it doesn’t squeeze in the next week or so, then it could be a while. And I don’t expect earnings to be good. The short supply of new consoles is hurting them
Having said that last week I was buying options that expired on 1/15 and still came out with profits on all of them. I usually don't do this but was riding the daily waves that happens for some stocks. Definitely risky no doubt.
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
Posted on 1/19/21 at 7:42 am to KickPuncher
My concern on long term calls is we have a strong catalyst right at this moment, but with Cohen’s lock up agreement with the company we have very few long term ones until fall 2021. So you’re paying for theta but I’m not sure it’s necessary, but you’re also paying for IV for this week which will crush if we dont see a significant move
Posted on 1/19/21 at 7:44 am to KickPuncher
quote:
Having said that last week I was buying options that expired on 1/15 and still came out with profits on all of them. I usually don't do this but was riding the daily waves that happens for some stocks. Definitely risky no doubt.
Yea I did that twice last week on GME. One time
I made 1000% my investment, the second time I went -80%. Second time was a lot less money, but point remains weeklies will swing wildly and violently
Posted on 1/19/21 at 7:50 am to Upperdecker
I guess for me long term for options is like 6-12 months. Anything over a year is really long term to me. 
I usually don't do those leaps options either, though I do think they can be very profitable, but just can hold up your money, which I'm not sure if I'm patient enough for. But I do think some leap options for NIO and PLUG could be very profitable.
But yeah I might hit up some quick options with GME that expire within a few weeks. On TDA, I can't see what the IV is for any of the GME options.
I usually don't do those leaps options either, though I do think they can be very profitable, but just can hold up your money, which I'm not sure if I'm patient enough for. But I do think some leap options for NIO and PLUG could be very profitable.
But yeah I might hit up some quick options with GME that expire within a few weeks. On TDA, I can't see what the IV is for any of the GME options.
Posted on 1/19/21 at 7:56 am to KickPuncher
All in all, the downside of owning shares is minimal (IMO). Do some research on Cohen and how he managed to turn Chewy into what it has become. The man is a genius and is a determined business mogul; he tapped into the passion that people have for their pets and created a business that encompasses value while being able to compete logistically with Amazon. Passion for gaming is strong and only getting stronger, and I think it is only a matter of time before he is behind the helm and leading the company in a new direction.
Posted on 1/19/21 at 8:01 am to itsbigmikey
LINK
This guy has really good DD and has talked to Cohen’s team, worth a read for anyone that’s interested in GameStop long term. He’s teamed up with a few other retail whales that together control 4% of the company
This guy has really good DD and has talked to Cohen’s team, worth a read for anyone that’s interested in GameStop long term. He’s teamed up with a few other retail whales that together control 4% of the company
Posted on 1/19/21 at 9:00 am to Upperdecker
citron
not saying they are right/wrong/whatever.
just be aware that this is a risky game
quote:
Tomorrow am at 11:30 EST Citron will livestream the 5 reasons GameStop $GME buyers at these levels are the suckers at this poker game. Stock back to $20 fast. We understand short interest better than you and will explain. Thank you to viewers for pos feedback on last live tweet
not saying they are right/wrong/whatever.
just be aware that this is a risky game
Posted on 1/19/21 at 11:52 am to cgrand
Why don't Citron short GME if they so sure?
Posted on 1/19/21 at 11:55 am to KickPuncher
There’s no shares to short
Posted on 1/19/21 at 12:22 pm to itsbigmikey
quote:
All in all, the downside of owning shares is minimal (IMO). Do some research on Cohen and how he managed to turn Chewy into what it has become. The man is a genius and is a determined business mogul; he tapped into the passion that people have for their pets and created a business that encompasses value while being able to compete logistically with Amazon. Passion for gaming is strong and only getting stronger, and I think it is only a matter of time before he is behind the helm and leading the company in a new direction.
Cohen did a lot of good things with CHWY but the current CEO Sumit has done equal if not more for them. Cohen has had absolutely nothing to do with the company since 2018.
Posted on 1/19/21 at 12:44 pm to hiltacular
quote:
Cohen did a lot of good things with CHWY but the current CEO Sumit has done equal if not more for them. Cohen has had absolutely nothing to do with the company since 2018.
Fair enough, but he had a vision and implemented it successfully. If he has a conviction to do it again I'm going to go out on a limb and put a few eggs in that basket.
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