Sometimes the graphic view tells the story. Wish I had played for a couple of days just for the fun of it.
Posted on 01/27/2021 12:05:42 PM PST by srmanuel
You are playing musical chairs right now.
Sure the stock will go down..but you could blow up your account.
And Puts are so darn expensive right now.
Hellofa time to buy a put option on this.
Pigs get slaughtered. Ok with me if they are extended.
Sometimes the graphic view tells the story. Wish I had played for a couple of days just for the fun of it.
This isn’t investing, it’s gambling.
And the small guys (if that’s what they really are) are going against pros. Sometimes David beats Goliath, yes. But more often God is not on your side when you do stupid stuff like this.
No shares are available to short. The puts for the following week already have the drop priced in.
The whole reason for this is that ~150% of the available shares had been shorted - someone was either double lending stocks to short, or someone was naked shorting - both of which are illegal.
This time the bad guys got caught with their pants down.
Isn’t the stock market nothing more than sophisticated gambling...??
You buy stock because you think it’s going up from someone who thinks it’s going down, that’s a true form of gambling...
Suppose these people by the 10s of thousands are investing their stimulus checks into stock options how much have they really lost if it goes down the drain when compared to the Hedge Funds who have lost billions so far...
You and Elon Musk, heheh. Now the likes of Schwab/Ameritrade are trying to put a stop to the shenanigans by preventing trading in GME on margin - probably will backfire super hard.
this is one case where the little guy severely punished Wall Street...
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What I think is funny is a bunch of major Wall Street Firms were taken to the cleaners by a bunch on internet trolls
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I think it’s great to see the wall street hogs taken to the slaughter house.
they’ve been getting away with naked short selling for years. it’s technically illegal, but they’ve been getting by with it while bankrupting decent companies.
glad to see them caught in this short squeeze.
I know I'm repeating myself, but it bothers me when people accuse others of illegalities that may not be so.
With the volume of calls on the board it is obvious that folks are shorting off their calls.
If I have a call that is in the money I can short the stock anywhere above the strike.
Don,'t need the stock because I own the right to buy it at a fixed price.
I think those types of trades may be closed at some brokers for now on GME.At least for some traders.
The show will really start when the joke is over and the blade falls.
I'm afraid there may be a lot of kids who think those trailing stops are gonna save their skin.
Anyone writing cash calls better be hedged up come Friday if the price holds.
But all in all, I think it is a great show.
Glad it's not my circus, not my monkeys.
lotta laughs at that link.
thanx
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That’ll backfire on Schwab/Ameritrade very hard. That’s lawsuit territory. They’re forcing “loss” back on those who bought the stock, and that’s against their client’s contracts. That’s bigtime lawsuit territory and Schwab/Ameritrade will lose that one all day long.
“Wouldn’t now be a good time to short the stock?”
No. Not with the Covid vaccine rollout.
I believe what’s going on here is savvy investors realize the pandemic is soon to end and are buying stocks which have been shorted-down in anticipation of a Pandemic-is-Over signal. The stocks which have been shorted down hard will skyrocket due to a short squeeze. This is the classic definition of what is known as a bear trap scenario.
Actually what I’ve read is that Elon Musk is on the side of driving the price up by purchasing options on Game Stop.
Supposedly one of the major hedge funds shorting the stock is Melvin Capital, Melvin Capital has been a heavy critic of Tesla and infuriated Musk after they shorted Tesla tried to drive the price way down, some are speculating this is Elon Musk’s way of getting even...
hearing same but that is all that i know about this situation. my kids and grandson know much more than i do.
at the same time a big group of individuals on Reddit noticed what was happening and proceeded to lead a campaign to buy the stock forcing it up to unprecedented highs, causing billions of dollars in loses to major Wall Street FirmsNext headline:
Reddit Bans Investor Subreddit
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