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Message

re: So I bought some Gamestop(GME)

Posted on 1/27/21 at 10:44 am to
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 1/27/21 at 10:44 am to
quote:

Ngl guys I really like this stock


I just got a rejection message when I tried to sell some WAY OTM naked puts on GME.
“No opening sell transactions allowed on this series.”

You folks have broken the stock market.
Posted by Tigers4life
The great US of A
Member since May 2004
1974 posts
Posted on 1/27/21 at 10:45 am to
quote:

My co-worker has been insisting all morning the SEC is going to crack down on this today, but every time I ask him what they can do, he has nothing. Perhaps they're putting pressure on the online brokerage sites to take this action? From what I gather, people are just using public information to "game" the system, so not sure there's anything illegal going on. Maybe they could hit some of the Redditors for collusion?


Yes because the retail investor isn't suppose to do this but it's ok for institutions to drive up the ipo price to the moon before public trading begins. I'm glad to see the shoe on the other foot.
Posted by cgrand
HAMMOND
Member since Oct 2009
46593 posts
Posted on 1/27/21 at 10:45 am to
quote:

Security impacts related to market conditions In the interest of mitigating risk for our company and clients, we have put in place several restrictions on some transactions in $GME, $AMC and other securities. We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors.
Posted by wileyjones
Member since May 2014
2693 posts
Posted on 1/27/21 at 10:45 am to
quote:

Jag_Warrior
They probably saved your arse
Posted by Upperdecker
St. George, LA
Member since Nov 2014
32736 posts
Posted on 1/27/21 at 10:49 am to
quote:

How you feeling UD? Still Diamond status?

Negative I’ve taken profits. Letting some ride. It was the right time for me
Posted by busbeepbeep
When will then be now?
Member since Jan 2004
19480 posts
Posted on 1/27/21 at 10:51 am to
quote:

Negative I’ve taken profits. Letting some ride. It was the right time for me

same. i was in small at 43. I sold 20% to cover basis and some profit. rolling with rest for now.
Posted by The Spleen
Member since Dec 2010
38865 posts
Posted on 1/27/21 at 10:54 am to
quote:

Yes because the retail investor isn't suppose to do this but it's ok for institutions to drive up the ipo price to the moon before public trading begins.


I gave him a similar response, and he didn't have a rebuttal. I think he's just pissed he didn't get in on the ground floor.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40279 posts
Posted on 1/27/21 at 11:00 am to
How we feeling boys?
Posted by boomtapp
Houston, Tejas
Member since Nov 2007
748 posts
Posted on 1/27/21 at 11:00 am to
Still holding. Didnt like this 50 point drop though...
Posted by SCUBAislander
Member since Feb 2007
2846 posts
Posted on 1/27/21 at 11:01 am to
Feeling like we hitting $500 by EOD
Posted by PierPunk
#BugaNation
Member since Apr 2013
3317 posts
Posted on 1/27/21 at 11:01 am to
quote:

How we feeling boys?



Scared to go to lunch
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 1/27/21 at 11:01 am to
quote:

They probably saved your arse


Not hardly. This is what I do.

Selling 7 delta puts, with almost no theta left, on a stock with 523% IV is a dream come true for people like me. My success probability would have been 93%. And even if the stock had been put to me, I could easily afford to hold it while I traded covered calls against the position.
Posted by Ragin Tiger 91
Houston
Member since Apr 2016
430 posts
Posted on 1/27/21 at 11:01 am to
Any reason it’s froze at $312
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 1/27/21 at 11:01 am to
whoa frick them.
Posted by xenythx
Member since Dec 2007
33245 posts
Posted on 1/27/21 at 11:02 am to
quote:

Still holding. Didnt like this 50 point drop though...


Lot of sells during lunch time. Sizable dip happened yesterday too.
Posted by xenythx
Member since Dec 2007
33245 posts
Posted on 1/27/21 at 11:03 am to
quote:

Any reason it’s froze at $312


Any huge swings (up or down) results in a temporary halt of trading.
Posted by busbeepbeep
When will then be now?
Member since Jan 2004
19480 posts
Posted on 1/27/21 at 11:03 am to
quote:

Any reason it’s froze at $312

LINK
Posted by S1C EM
Athens, GA
Member since Nov 2007
11594 posts
Posted on 1/27/21 at 11:04 am to
Bought few shares and they freeze it on a major drop. What gives?
Posted by barry
Location, Location, Location
Member since Aug 2006
51327 posts
Posted on 1/27/21 at 11:04 am to
quote:

Yes because the retail investor isn't suppose to do this but it's ok for institutions to drive up the ipo price to the moon before public trading begins. I'm glad to see the shoe on the other foot.



These two things have nothing to do with the other.

They don't drive up the prices, they simply fill the IPO at a price below market and then the actual market drives up the price.
Posted by Smoke7024
Member since Jun 2010
23969 posts
Posted on 1/27/21 at 11:04 am to
Am I dumb to keep selling high and buying back when it dips? This is some time consuming shite.
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