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re: So I bought some Gamestop(GME)

Posted on 1/27/21 at 11:05 am to
Posted by rintintin
Life is Life
Member since Nov 2008
16967 posts
Posted on 1/27/21 at 11:05 am to
This is hilariously one of the least volatile stocks that are pumping right now
Posted by misterc
St. George
Member since Sep 2014
740 posts
Posted on 1/27/21 at 11:06 am to
quote:

ow you feeling UD? Still Diamond status?

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


Smart Move, nothing wrong with taking some profit
Posted by RLDSC FAN
Rancho Cucamonga, CA
Member since Nov 2008
58871 posts
Posted on 1/27/21 at 11:07 am to
quote:

$10K investment in August, would be worth about $910K today.


Holy shite
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 1/27/21 at 11:07 am to
Apparently the ITM calls are now being sold for below parity (less than their intrinsic value). People who are long calls don’t want to/can’t afford to exercise the calls. So now they’re trying to dump the options and there’s an EXTREME imbalance.

I’ve never seen anything like this before. Just heard Pete Najarian say that he’s never seen this before either.
Posted by KickPuncher
Member since Jun 2020
754 posts
Posted on 1/27/21 at 11:10 am to
I'm still holding. Got 2 options contracts that expire Fri, and I'm still holding. 80 strike and 110 strike call. And still holding.
Posted by Team Vote
DFW
Member since Aug 2014
7946 posts
Posted on 1/27/21 at 11:11 am to
The concern trolling on CNBC is out of control
Posted by HardHat
Member since Feb 2014
732 posts
Posted on 1/27/21 at 11:11 am to
Saying it now, Thread of the year!

I like this stock
Posted by amgslg
Member since Jun 2014
385 posts
Posted on 1/27/21 at 11:13 am to
Jag warrior can you explain what that means for the rest of us?
Posted by Upperdecker
St. George, LA
Member since Nov 2014
32736 posts
Posted on 1/27/21 at 11:14 am to
Taking my profits completely on GME now. Market interference is past my level of DD, and I can’t predict which way it’ll turn now. But there’s a number of high level factors including calls selling for less than intrinsic value, the TDA restrictions, crazy margins, all the calls from Wall St to disrupt the trading through the legislature. I’m concerned that trading could be halted long term and that GME will open it’s shelf offering, in addition to those factors above

We’re now at the level where nobody knows what will happen, and it’s trade truly at your own peril now
Posted by Upperdecker
St. George, LA
Member since Nov 2014
32736 posts
Posted on 1/27/21 at 11:18 am to
quote:

Jag warrior can you explain what that means for the rest of us?

Calls that are ITM mean they could be exercised for shares and provide a level of profit right now. Normally those calls will sell for that level of profit (intrinsic value), plus a margin on top for the possibility of it running further. Jag is saying these calls are selling for less than the intrinsic value because they buyers can’t afford to exercise the option and buy the underlying shares. Bc of this gap, we could see the stock move in any direction bc of a lack of ability to buy the underlying. I’d imagine this is like a gamma squeeze downwards possibility
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
35792 posts
Posted on 1/27/21 at 11:20 am to
This Chamath Palihapitiya interview is fricking fire.

Holy shite he is not holding anything back. This dude knows his stuff.
Posted by UnluckyTiger
Member since Sep 2003
41704 posts
Posted on 1/27/21 at 11:22 am to
What’s he saying?
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 1/27/21 at 11:22 am to
quote:

A $10K investment in August, would be worth about $910K today.
I get the sentiment but that wasn’t exactly a safe bet in August
Posted by Huge Richard
Member since Dec 2018
4313 posts
Posted on 1/27/21 at 11:22 am to
quote:

Jag is saying these calls are selling for less than the intrinsic value because they buyers can’t afford to exercise the option and buy the underlying shares.


At the end of the day, people are in it for the money, no matter which side you’re on.
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
35792 posts
Posted on 1/27/21 at 11:22 am to
quote:

What’s he saying?


I can't eloquently capture it, but this dude is fricking smart and is just roasting them. I'm sure it will be catalogued somewhere.
Posted by AA7
Birmingham, AL
Member since Nov 2009
28442 posts
Posted on 1/27/21 at 11:24 am to
CNBC keeps trying to set a narrative of retail investors simultaneously being in the wrong but also being the victims. He keeps going back to the fact that these hedge funds have been manipulating the market for years and it’s finally biting them.
Posted by ell_13
Member since Apr 2013
87199 posts
Posted on 1/27/21 at 11:24 am to
What is going on with KOSS?
Posted by Upperdecker
St. George, LA
Member since Nov 2014
32736 posts
Posted on 1/27/21 at 11:24 am to
Chamath is incredibly intelligent, but also is very openly in favor of the common man and very anti-Wall St. He’s a really good champion of the people as far as Wall St goes, and I’m a huge fan

One of his big initiatives has been putting out high quality SPACs. And of course he makes a ton of money on these things, but the biggest difference between a SPAC and an IPO is that Wall St doesn’t get their protected buying session in a SPAC that they get during an IPO release. And that protected buying session for IPOs generates a ton of profit for Wall St, since they buy in low, then hype up the stock for retail, then lay the bags on retail
Posted by Napoleon
Kenna
Member since Dec 2007
73192 posts
Posted on 1/27/21 at 11:24 am to
What's crazy is you just never know what's going to hit. I saw a guy telling everyone to buy 2/19 Macy's calls at 20 for .20
I just threw out 40 for 2 contacts.
This morning it was $580. I cashed out.
$540 profit from 40 in two days. The market is nuts this week.
I was looking for 80 profit.
Posted by KickPuncher
Member since Jun 2020
754 posts
Posted on 1/27/21 at 11:24 am to
quote:

Calls that are ITM mean they could be exercised for shares and provide a level of profit right now. Normally those calls will sell for that level of profit (intrinsic value), plus a margin on top for the possibility of it running further. Jag is saying these calls are selling for less than the intrinsic value because they buyers can’t afford to exercise the option and buy the underlying shares. Bc of this gap, we could see the stock move in any direction bc of a lack of ability to buy the underlying. I’d imagine this is like a gamma squeeze downwards possibility

How do we know that this isn't just another market manipulation tactic they are pulling out on us?
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