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re: So I bought some Gamestop(GME)

Posted on 1/29/21 at 10:30 am to
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
35838 posts
Posted on 1/29/21 at 10:30 am to
quote:

No one mentioning that free trades and shares at #RobinHood were made possible by sales of the trade flow to Citadel and its ilk. Robinhood's customer is and has been CItadel, not its retail traders. Which makes what is happening this week all the more


That's half true...the true demand comes from the people using their app, who drive the volume of traffic that they get paid for. So if they don't have any users, they ain't making no money.
Posted by slackster
Houston
Member since Mar 2009
91342 posts
Posted on 1/29/21 at 10:32 am to
quote:

The "fact" that the shorts are already out? WTF are you talking about.


Most original shorts are out. Any major position was blasted to hell by the moon shot over the past 10 days. A 10x move doesn’t leave you with any real options but to close out.

Short interest is going to remain high for pretty obvious reasons. I don’t think anyone believes GME will stay at these elevated levels for long.

Look, I’m not trying to defend anyone nor am I trying to rain on any parades. I love this story and the dynamics at play. I’m simply trying to add context that seems to get lost/ignored.
Posted by TDTOM
Member since Jan 2021
24745 posts
Posted on 1/29/21 at 10:33 am to
Meanwhile the S&P is down 53 points.
Posted by BilJ
Member since Sep 2003
162115 posts
Posted on 1/29/21 at 10:34 am to
Big Short 2 Electric Boogalo
Posted by xenythx
Member since Dec 2007
33245 posts
Posted on 1/29/21 at 10:36 am to
I think GME is unique in what's about to happen (hopefully), but god damn I wish I had bought into AMC last week. The hype alone is gonna drive it up crazily.
Posted by slackster
Houston
Member since Mar 2009
91342 posts
Posted on 1/29/21 at 10:40 am to
quote:

And slackster said short cover was over

Yea well that guy has been wrong on nearly every topic he chimes in on


Bookmarked.
Posted by eScott
Member since Oct 2008
11376 posts
Posted on 1/29/21 at 10:41 am to
quote:

Is anyone looking at GME puts a year out? $200 Jan '22 puts seem like a gimme. This thing's gonna come back to earth at some point in the next year. A contract will cost $15,000 thoug


I bought the Jan $20 puts on Monday for 50¢ when the stock was $43, they're $2.30 now. I would avoid trading the options at this point.
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18371 posts
Posted on 1/29/21 at 10:41 am to
quote:

Most original shorts are out. Any major position was blasted to hell by the moon shot over the past 10 days. A 10x move doesn’t leave you with any real options but to close out.


Provide your sources.
Posted by PhiTiger1764
Lurker since Aug 2003
Member since Oct 2009
14470 posts
Posted on 1/29/21 at 10:44 am to
quote:

Most original shorts are out.

You have no fricking idea if this is true or not.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40300 posts
Posted on 1/29/21 at 10:44 am to
Endgame meme


They did it. The mad man fricking did the thing



Posted by TxWadingFool
Middle Coast
Member since Sep 2014
5434 posts
Posted on 1/29/21 at 10:44 am to
Maybe a dumb question but it wouldn't be the first one I've ever asked. So what happens to retail traders without ah privileges if it all blows up after hours, peoples sell orders kick in and then it drops like a rock and by Monday morning when I have access again it's worth 15 bucks like it was 3 weeks ago? I can only put a sale order in for 50% of the current sale price (fidelity) so even if I do that I won't lose anything but could miss out huge.
Posted by TDTOM
Member since Jan 2021
24745 posts
Posted on 1/29/21 at 10:45 am to
I would imagine most people that were short at $4 have to have covered somewhere between there and $414.
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
466272 posts
Posted on 1/29/21 at 10:50 am to
Elon Musk being Dr. Strange

Posted by notsince98
KC, MO
Member since Oct 2012
21373 posts
Posted on 1/29/21 at 10:51 am to
quote:

I bought 3 shares at $306 this morning. I was really expecting it to jump all over the place after I bought, somewhere in the range of $150-$450

Seems it’s actually been somewhat steady though since I bought in


after yesterday, GME is unbelievably steady. wtf is going on?
Posted by TexasTiger34
Austin, Kind of
Member since Mar 2008
11344 posts
Posted on 1/29/21 at 10:52 am to
quote:

after yesterday, GME is unbelievably steady. wtf is going on?



again, it could be likely due to the quantity purchase limits set by retail brokerages right now... no?
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40300 posts
Posted on 1/29/21 at 10:52 am to
quote:

after yesterday, GME is unbelievably steady. wtf is going on?


We’re almost there. One way or another.
Posted by Drunken Crawfish
Member since Apr 2017
3883 posts
Posted on 1/29/21 at 10:52 am to
Maybe the best meme of all time
Posted by Stiles
Member since Sep 2017
3454 posts
Posted on 1/29/21 at 10:53 am to
They stole our idea!!! Lol

You you knew it was coming.

But I would’ve had David Portnoy as Thor with that yell after the “assemble“ , DFV as CA, and “the moon” as the hammer coming into his hand.
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
466272 posts
Posted on 1/29/21 at 10:54 am to
seeing that it has 7 likes and only 2 replies reminds me that thousands of people may be looking at this thread right now anonymously
Posted by jlovel7
NOT Louisiana
Member since Aug 2014
23848 posts
Posted on 1/29/21 at 10:54 am to
He really should have been iron man.
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