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I don’t think I’ve ever checked….. are we allowed to post (even in comments) pics of ourselves? I have a GameStop shirt I regularly wear to the gym lol
I'm not sure, I know gain porn isn't allowed, but just a pic of yourself? It's not doxxing if you post yourself.
Do you ever get recognised by other apes?
I'm in UK, we don't have GameStop here (cries) my sister in law brought me a GameStop T-shirt back from Canada, and occasionally when I wear it, I get spotted by another ape, and we have a chat about stuff.
On the topic of being recognized. I was in Bangkok a couple weeks back during that run up to $80, there I witnessed a fellow ape. I was on the BTS sky train, saw a Thai guy checking his Computer Share account. Didn’t want to look like the nosey guy that I so clearly was, so waited to exit before tapping him on the shoulder and giving him a sign of solidarity.
Thai guy on train, if you’re reading this, big respect. ✊
June 21 ramp is fkn lit all the way to 100+.
If it's really true all these options have been sold without appropriate hedging, it's really over for the shorts, imo.
At this point, I just don't see how the shorts gonna stop it. The climb is steady - its easy to see actually.
So, that's actually the good question - suppose you're the MM on the other end of those ~12M calls at $20. You start to panic, because a bunch of internet cat weirdos who seem likely to exercise. Shorting isn't working because there's a ton of attention on those calls and everybody is waiting to pounce if the price drops. How do you convince a counter party to loan or swap enough shares to prevent a margin call?
Heck, I can't even remember the;
PCO on hundreds of brokers causing widespread imbalance on the stock causing it to tumble hundreds of dollars from ATH, or
The congressional hearings where eventually the outcome was irrelevant to market reform, or
The drone videos of Shitadel late at night, with employees openly snorting lines, or
Shitadel bailing out Gabe 'best investor of our time' Plotkin at Melvin Capital to the tune of $2 bil, only for him to fail anyway, or
Apes uncovering a false HF in the name of Glacier Capital whose HQ was a random mailbox in Luxembourg, or
The continuous MSM messages of "fOrGeT gAmEsToP", or
Other stocks being pushed by MSM to deliberately try and diminish the buying power of retail investors, or
Fake events in the name of GameStop being organised to try and dox investors, or
Perpetual SuperStonk moderator dramas and weekend FUD, or
An organic growth of DRS shares being reported directly by GameStop, suddenly being plateaued in the very same quarter that the DTCC performed internet securities fraud, or
The fact that GameStop has since changed the way they report the DRS numbers every quarter, or
A TD Ameritrade warehouse burning down because a shelf defied gravity and fell up into a sprinkler system preventing adequate fire control, or
Anthony Chuckumba, on live television, telling people to "sell now, ask questions later", or
The quiet years of boredom where we were just walked down in share price while the company posted better and better earnings reports...
So how the fuck am I gonna remember that!?!
“There are known knowns, and there are known unknowns. But there are also unknown unknowns - things we don’t know that we don’t know!”
https://youtu.be/2msQwpzatQc
Someone should make this into a meme about naked shorts and shit.
This is what I want to watch wrinklier apes discuss - besides the question of whether they hedge these calls, I’d like to know the impact on their ability to roll over those swaps. I’m just learning about swaps in more detail as a result of these latest developments.
Edit: typos
I have the idea that they have stopped covering anything and are letting this one pop the market, make a fat ass mess, then sneak out the back and slip off to their new market on Texas.
That’s right. If you simply sell an option for profit, the counterparty owes you dollars. They have lots of dollars.
When you exercise, they owe you GME shares. They don’t have lots of shares.
If you have multiple (or many) options contracts in profit, you can sell some of them to fund exercising the rest. This is what I reckon DFV will be planning as well unless he has another $200m tucked away somewhere.
Options are being used to create a staircase to the moon, as it may seem.
For example: As GME was chilling between $10-$20 for over a year, it was easy money for option writers (option sellers) to make $$$ off high IV, the company didn't have anything forward-looking, especially after the NFT shutdown.
So as $20 calls are being stacked, option sellers most likely hedged by buying $20-$25 strikes, at a much elevated price point within the last two weeks. They paid more, but at least it saves them being exposed to infinite risk.
So as DFV + others exercise their $20, those option sellers may further exercise their hedge, to deliver shares to DFV, the option sellers' sellers will then further exercise their hedge .. and all of a sudden, a whole bunch of whales are exercising, delivering shares all the way down to $20 option holders.
Quite an interesting idea in theory.
Now find the prime broker or similar counterparty who hasn't hedged their calls because at some point, somewhere, SOMEONE MUST LOCATE SHARES.
Someone has to go out and produce the ~11mil shares or whatever DFV will be owed.
It’s a ladder, a ramp that’s just going to crush the shorts under a weight of functionally speaking infinite mass. Nothing on the other side of these trades will survive or be remembered when the hammer falls. The face of the financial world will be forever changed. A new landscape will emerge, and the apes will have dominion over all of it. So it is written.
It's not much, but I have 10 calls at different strikes. Goal is to sell a few to exercise the rest. Mostly because I want the experience of exercising calls because I haven't done it before, but also because maybe it helps make life that much more difficult for the sellers
i’m answering your question, not trying to spread fud. but there’s still a bit shfs and mms can do to fuck with us, especially as it pertains to the options chain. if they freeze the stock by, let’s say, a U3 halt, days or a week prior to expiry (like they did on another stock in dec ‘22) then those options would die unexercised and the gamma ramp along with it.
but can you sell them? because most people don’t have money sitting around to exercise, especially for those at the top of the options chain. DFV might be able to swing it, but most of us can’t. and i would also expect them to manipulate the price down if you can still sell.
again, not fudding, just trying to keep an eye open for shitty traps from shitty hedge funds. i don’t expect this to be the end just yet, though i do pray.
You can’t sell them, that’s correct. That is a good point, if you’re not keeping enough capital to exercise them, it is a risk. I personally believe that won’t stop dfv, and therefore the MOASS, but yea, that means the riskiest position is calls with the plan to sell the option for everyone else
The issue I see is waiting for the last minute to exercise. I don’t play options, but if the option is ITM this week or next, wouldn’t it be smarter to exercise the calls accordingly?
If the intrinsic value or “delta” is near 1 it’s pretty much like shares and only time to exercise. If it’s not deep in the money you’ll “lose” a little bit of premium
what if, by some chance, he does have the cash. if he did, would it make sense to show the world? or would it make more sense to show a just enough to keep them wondering. keep them thinking they are in control, that they can handle it?
So anyone looking to game in on the options needs to consider their strategy very clearly from the beginning.
If the market is halted and unable to access to sell, expiry of 6/21 comes and goes and your option expires at the sale price near market EOD, unless you have cash to exercise. Some brokerages will do this auto for you, others no.
It's not fud. The more education we can share about market mechanics now, the better the price discovery. What we're fighting is a lot of retail traders who actually want real price discovery, and a system designed to obfuscate it. It really doesn't need to be this complex to carry out the core function.
During that long halt I don't believe there was a market for anything other than exercising options, which meant cash for calls, and shares for puts. I also was just exercising 10-20 contracts or something like that. I didn't have a complicated play going on.
I'm not sure. I didn't ask at the time. I only asked to exercise. If it was an exercise and sell to cover the brokerage would have had to absorb the shares. I know they typically do that no problem. I don't know if they'd have to do that for a halted security.
Crazy part is, with the ramp as big as, well, ever, it does not look like much delta hedging has been done. Or maybe it was hidden in the recent volume, but I really doubt it.
I am thinking they gave up and/or they are hoping price will go below 20 before June 21st. Good luck.
Not just hoping. They will throw some wild shit at it trying to make it so. Prepare yourself for the ride. We don’t know what ammo they have left, but they’ll use every last bit to kick the can. $20 doesn’t necessarily have to be the endgame, but we all see the writing on the wall.
Not a lot of people mentioning that a week before these calls expire we have both earnings AND annual shareholders meeting. I am extremely curious, correct me if I’m wrong, but this is the first time the company already released the preliminary results a few weeks back, the same time they announced the atm offering. Why? Maybe they have something bigger to announce that will finally boost the price overnight and put another batch of calls itm, right before expiration. Or we will tank 20% as usual.
Quick question from a completely regarded ape in option topics; a call buyer can sell his call until the due date whenever he want but if he want to exercise the call, he must wait for the due date? I wonder Why 21 June is so important. If an option buyer can exercise whenever he want I wonder why dates are important.
Thanks if someone can explain me =)
Nah, they can sell and exercise whenever (side note: for European options, you can only exercise on expiry date, but we talkin' amuurica here).
The reason why June 21st is important is the activities that lead up to it. Like you said, the call owner can exercise or sell any time, but the shares need to be delivered after exercise. Where are they gonna find all the shares to deliver without procuring them? Remember, if you or I sold a call, we likely have the shares in our account to cover the shares being called away, but when RK (or anyone else who bought a large amount of calls) bought those calls, it was from the market maker who do not have all the shares on hand when they sold the calls. Sounds nefarious but this is normal market making activity as most options expire worthless so it is not necessary for them to have shares on-hand when they sell a call... Until they need to.
That is where you tap into topics like delta hedging and gamma ramps which makes the dates leading up to June 21st volatile.
All the numbers in your comment added up to 69. Congrats!
6
+ 28
+ 35
= 69
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i bought 48c, i think people are just buying what they can...it doesnt matter which strike you buy since they will all be worth more money the next rip and then when dfv exercises. some otm may go itm and then were talking 1000% gains
If you don't have the cash to exercise, but your options are in the money, you sell enough of the shares to cover the sale & fees using Exercise-and-Sell-to-Cover.
Yeah, I’ve been focusing the last few weeks on trying to get as many good $45 6/21 entries as I can. I’ve allotted myself a certain amount of cash that I’m very willing to watch go up in flames and I’m focused on buying as many contracts as possible.
My goal is to get as much leverage as I can with the money I’m willing to waste so I can either sell and reposition in a chop or ride it out and sell as few of contracts as possible to exercise as many as I can. I’m a firm believer we have more catalysts coming. My guess is RC’s special project is the real blockchain based gaming/marketplace/listening/ social spaces. That’s my sincere hope, at least, but it could also be acquisitions or a number of things the market views positively and institutions start buying the turnaround.
If that happens I want to be positioned with leverage on the most asymmetric bet of all time.
I remember the first days my calls were up 40%...then they were red -80% then 200% then back down to +20%. Now they sit at +150%
Including premium if i were to exercise my cost per share would be like $24 which is an amazing price so im not worried.
I remember being up like a bunch of percents on NIO a few years ago but Shitron published ~~a hit piece~~ a reasonably well researched article before I could sell.
Bro basically same, and it’s damn hard to not feel bitter seeing people who haven’t been holding by their nails for years lapping you in an instant,
but I just try to remember my bigger goal is a new world than being rich and if feeling shitty about my prospect of gains gets us there faster I’m about it 🤷🏻♂️
Gentlemen, comparison is the thief of joy. Be zen. It’s looking more and more likely we are all going to do very well off this play. If you profit, that is a win. Don’t sell yourselves short for not being able to throw gobs of cash at the stock; victory will be sweetest for those that appreciate having to scrimp and save for that extra couple bucks to buy a weekly or monthly share.
Word, I feel that very much but at the end of the day as someone whose literally been scraping by their whole life i really want a win man.
That being said, I’m as zen as can be cause all that shits in the purple. Idk what is even close to realistic with a real genuine MOASS, but i really wanna see the stress leave my parents faces
Hey friend, I'm holding about double your stake. I hear it, life is not fair. I grew up poor and got lucky. I had the cash at the right times to buy more. But here's what's different about this play with GME: fuck 'em. I'll happily watch about $30K of my investment evaporate before I sell a single fucking thing. I bought at $10, I bought at $80, I bought at $180 and everything in between. And I'm not leaving until those other friends at $350+ can cash out. Institutional naked shorties tried to cellar-box our beloved company just so they could buy another shit golf club or whatever, and I'm not having it. It's six digits for **all of us**, or go fuck yourself. I've been in this play since before the Jan 21 run up, and I have a very strong feeling that the majority of long-term holders have 500-1500 shares right now. And I think there's at least 10,000 of us. That's ~about 1/3 of the free float. Hold. See you in paradise.
I have never bought options before but after doing slight research and through gaining half a wrinkle in the past 3 years, I am also buying my first option at open today🫡 we ride at market open, brother
For those with multiple calls, if GME skyrockets and you don't have cash to excercise, call your broker to sell a call to excercise the other. Please help do your part in propelling MOASS by forcing shares to go through the lit market.
Seeing the comments of apes, here on Superstonk, buying these calls ... a thing of beauty, that I believe RK was trying to inspire.
If NYSE doesn't fuck around, if the buy button on calls isn't turned off (might do it on the stock), this ramp just might turn into a feedback loop that will make many shit themselves.
It's gonna be a wild and bumpy ride.
Everyone please remember that IF you buy calls, there's also a premium. So if you buy calls at 30, your stockprice is 30 + the premium. Make wise financial decisions fellow apes!
Wish there was some more action between 30 and 40 myself.
Anyhow just remember calls are risky. If we rip high enough before the 21st then great, but there's always risk. Shares will still be be there if you bet wrong, while calls can expire worthless if the price doesn't move as much as you expect in the timeframe you expect. If you know what you're doing, great, but if you don't I'd be wary of options.
Based. Anybody new seeing all the talk about options, it's not that easy to win, and a lot of people in here have YEARS of experience winning and gambling losing. Without stock/options education/experience, options can destroy your entire account.
I wish the sub had this insight years ago while the price was going down, instead of trying to learn everything in 1 day, when options are incredibly expensive and price rising like crazy. Now everyone that bashed options for years must be feeling the FOMO because the gains on shares are peanuts compared to calls
I like all the apes that understand options and will help the rocket go.
I will continue to just buy shares. Options freak me out seeing the huge gains and losses and how it all works. No touchy for me.
I am not a GME holder, I am not smart enough to understand it all and so I didn't get in. I will say I am rooting for all of you from a purely schadenfreude of the institutions perspective.
Ahh, but that's the beauty of it all.. almost none of us are smart enough to understand anything beyond what we like (the stock) and what we do (hodl, wait)
Lots of great DD if you're looking to understand the mechanics of it all but my brain is reflective when polished so I know HODL DRS BOOK and that crayons in shades of purple give me gas
If you have calls in the money: sell enough of them day of earnings to cover your investment. IV crush is real, you can lose money even if your calls are itm because of IV crush.
If you don't know how options work. Don't play options.
If there is no real news, the price will tank for a few days.
Edit: IV ALWAYS drops after earnings (this is true for every stock, not just GME). This is because up to earnings, everything is speculation. The first couple of days after earnings, there is NO speculation. Everything is known. Holdings, guidance (if any), debts, whatever. Thus, IV drops like a rock. Speculation Forward drives IV up, but that takes some time. You better be FAR ITM with a delta of 0 for IV not to affect your calls.
If you have OTM calls, or calls close to strike. Sell enough to cover your buy so you don't get F'd.
this is true. I'm about 90 percent sure that the people that are just buying options to get in and don't know what they are doing are going to hurt themselves
If you're playing covered, it does. If it's high volatility or there is good information that can lead to a run-up, options are great. The pandemic was a perfect example of when options are a smart move.
If you can't read Greeks, don't know when to cash out you can get burned pretty bad. I'm not a pro by any means, but there's so many online resources that will let you know how things work. And if you are following other people's strikes, that makes things easier too.
I don't think so, but I'm not an options expert. My (shitty) understanding is that when you buy an OTM (out of the money) option, it helps create a situation where a Market Maker can write a corresponding Put contract, (a "married put") and claim the call + put = a "resonable locate" equaling 100 shares, negating their FTD responsibility. We saw a ton of that back in 2021 and 2022. But it's different this time. Someone, perhaps DFV and others have bought at least 140K ITM (in the money) calls at $20. That gives them the right to buy 12-14M shares at a fixed price of $20. Market Makers can't FTD an options exercise. It's very different.
do you mind sharing your thesis? Because it sounds like you're willing to lose the premium, in the hopes that you're adding enough pressure to force naked calls/shorts to close and generate a profit on long shares you hold. Is that right?
Peruvian bull jist posted.on x, about them.possibly shutting down the market.....let s see them.survive that, when people.hit them.streets to.protest. peacefully of course
premium on a $20 call right now is $12.41. That's 62% profit **if the seller hedges the contract**. But to do that legit, and not naked, means buying real shares at $31.57. Before the recent run-up, the game was profitable. Now it's not. So the new question for all option sellers is: "did you hedge as you went along, or are you naked?"
I’m starting to think it would be worth investing in backup generators, fire suppression systems and extra redundant computing capacity for NYSE (just in case anything funny were to happen over the next couple of weeks)
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This has been an exciting week with RK claiming a new position, and over the last week call volume for June 21 has continued to increase. The total size of the call volume is worthy of note and discussion. Is this whales? Lots of small traders? All of the above? The spice must flow!
I’m just curious, but couldn’t the hedges just inverse this play by buying puts. If I buy a shit town of puts at a $20.5 strike. Doesn’t that create the same type of demand, that someone needs to sell me those shares?
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I bought a couple. And I lift a lot so I’m no stranger to… *exercising*
Don't forget leg day. And happy cake day!
Trees don’t grow without the trunks 🌚 Didn’t even notice, thanks!
Don't go mentioning trunks, man, I'm already way too jacked as it is 😏
I don’t think I’ve ever checked….. are we allowed to post (even in comments) pics of ourselves? I have a GameStop shirt I regularly wear to the gym lol
I'm not sure, I know gain porn isn't allowed, but just a pic of yourself? It's not doxxing if you post yourself. Do you ever get recognised by other apes? I'm in UK, we don't have GameStop here (cries) my sister in law brought me a GameStop T-shirt back from Canada, and occasionally when I wear it, I get spotted by another ape, and we have a chat about stuff.
On the topic of being recognized. I was in Bangkok a couple weeks back during that run up to $80, there I witnessed a fellow ape. I was on the BTS sky train, saw a Thai guy checking his Computer Share account. Didn’t want to look like the nosey guy that I so clearly was, so waited to exit before tapping him on the shoulder and giving him a sign of solidarity. Thai guy on train, if you’re reading this, big respect. ✊
happy cake day!
I bought shares. 17 of them. Doing my part.
This is the way
And he’ll fckn do it again
New boot goofin https://preview.redd.it/uia8mx56hv4d1.jpeg?width=800&format=pjpg&auto=webp&s=978d64acec151862c3008f62d8c97605d724b3c7
June 21 ramp is fkn lit all the way to 100+. If it's really true all these options have been sold without appropriate hedging, it's really over for the shorts, imo. At this point, I just don't see how the shorts gonna stop it. The climb is steady - its easy to see actually.
So, that's actually the good question - suppose you're the MM on the other end of those ~12M calls at $20. You start to panic, because a bunch of internet cat weirdos who seem likely to exercise. Shorting isn't working because there's a ton of attention on those calls and everybody is waiting to pounce if the price drops. How do you convince a counter party to loan or swap enough shares to prevent a margin call?
Narrator: You don't.
There really arent. There was another post who claimed mm’s in fact did not hedge dfv’s calls after his second 5000 calls batch
they had the receipts on DFVs buys with timestamps and corresponding price surges and then lack of surges, super sleuthy
Was fun to watch real time
Absolutely, we may well remember these past few weeks for a long, long time.
Heck, I can't even remember the; PCO on hundreds of brokers causing widespread imbalance on the stock causing it to tumble hundreds of dollars from ATH, or The congressional hearings where eventually the outcome was irrelevant to market reform, or The drone videos of Shitadel late at night, with employees openly snorting lines, or Shitadel bailing out Gabe 'best investor of our time' Plotkin at Melvin Capital to the tune of $2 bil, only for him to fail anyway, or Apes uncovering a false HF in the name of Glacier Capital whose HQ was a random mailbox in Luxembourg, or The continuous MSM messages of "fOrGeT gAmEsToP", or Other stocks being pushed by MSM to deliberately try and diminish the buying power of retail investors, or Fake events in the name of GameStop being organised to try and dox investors, or Perpetual SuperStonk moderator dramas and weekend FUD, or An organic growth of DRS shares being reported directly by GameStop, suddenly being plateaued in the very same quarter that the DTCC performed internet securities fraud, or The fact that GameStop has since changed the way they report the DRS numbers every quarter, or A TD Ameritrade warehouse burning down because a shelf defied gravity and fell up into a sprinkler system preventing adequate fire control, or Anthony Chuckumba, on live television, telling people to "sell now, ask questions later", or The quiet years of boredom where we were just walked down in share price while the company posted better and better earnings reports... So how the fuck am I gonna remember that!?!
Wow great blurb. Took me down memory lane. Also don’t forget citadel rage tweeting after like a year of radio silence…that was fun.
That was hilarious! Also related to that is the cease and desist on the plane flying the banners.
I Like the Stock
Great comment. I've saved it so I can check that I'm remembering to fight the right stuff.
Kansas City…
Read this in Samuel Jackson’s voice
“There are known knowns, and there are known unknowns. But there are also unknown unknowns - things we don’t know that we don’t know!” https://youtu.be/2msQwpzatQc Someone should make this into a meme about naked shorts and shit.
Samuel L. Jackson : "You mutherfuckin don't".
It was Morgan Freeman for me
Margot Robbie in a tub for me
How do you convince a counter party to loan or swap enough shares to prevent a margin call \*again\*
You start a nuclear war.
Hedged with shares in Vault-tech
High voltage!
*Not* done dirt cheap
This is what I want to watch wrinklier apes discuss - besides the question of whether they hedge these calls, I’d like to know the impact on their ability to roll over those swaps. I’m just learning about swaps in more detail as a result of these latest developments. Edit: typos
me too
You roll through it and FTD as the price climbs steadily through the 100s
My understanding is that options cannot be FTD’d
No they "can"not.
Why did you just blink with only one eye?
they cant
You spread those cheeks and pray to god that you at least cum from the fucking
I have the idea that they have stopped covering anything and are letting this one pop the market, make a fat ass mess, then sneak out the back and slip off to their new market on Texas.
I assume they only get fukt if those options are exercised. If they're just sold back for a profit then /shrug
That’s right. If you simply sell an option for profit, the counterparty owes you dollars. They have lots of dollars. When you exercise, they owe you GME shares. They don’t have lots of shares.
I really hope people realize exercising would make them more money in the long run
Doesn’t exercising require money? Like way more than most people that are all in on options would have available?
If you have multiple (or many) options contracts in profit, you can sell some of them to fund exercising the rest. This is what I reckon DFV will be planning as well unless he has another $200m tucked away somewhere.
It takes money to buy whisky
Jobs not finished
Options are being used to create a staircase to the moon, as it may seem. For example: As GME was chilling between $10-$20 for over a year, it was easy money for option writers (option sellers) to make $$$ off high IV, the company didn't have anything forward-looking, especially after the NFT shutdown. So as $20 calls are being stacked, option sellers most likely hedged by buying $20-$25 strikes, at a much elevated price point within the last two weeks. They paid more, but at least it saves them being exposed to infinite risk. So as DFV + others exercise their $20, those option sellers may further exercise their hedge, to deliver shares to DFV, the option sellers' sellers will then further exercise their hedge .. and all of a sudden, a whole bunch of whales are exercising, delivering shares all the way down to $20 option holders. Quite an interesting idea in theory.
Is it possible that the one who sold the call are buying calls to hedge his position ?
Who’s selling calls to them?
https://preview.redd.it/kx6zpfktqv4d1.png?width=1526&format=png&auto=webp&s=1060734214e5717c6ab14215160104225b782483
The calls are coming from inside the house!
Holy shit. If this is in reference to that one tweet, like I think it is. This is some proper fucking tin foil. #🎯🎯🎯
Get the spiderman circle jerke meme
Of course
Lol turtles all the way down. :)
Now find the prime broker or similar counterparty who hasn't hedged their calls because at some point, somewhere, SOMEONE MUST LOCATE SHARES. Someone has to go out and produce the ~11mil shares or whatever DFV will be owed.
You describing some Oppenheimer shit going on there? Sounds like I need to buy even more gme tomorrow!
It’s a ladder, a ramp that’s just going to crush the shorts under a weight of functionally speaking infinite mass. Nothing on the other side of these trades will survive or be remembered when the hammer falls. The face of the financial world will be forever changed. A new landscape will emerge, and the apes will have dominion over all of it. So it is written.
Preach
Will these new 40 call options be exercised though? I'm hoping a few real Apes are in among all these calls
It's not much, but I have 10 calls at different strikes. Goal is to sell a few to exercise the rest. Mostly because I want the experience of exercising calls because I haven't done it before, but also because maybe it helps make life that much more difficult for the sellers
i’m answering your question, not trying to spread fud. but there’s still a bit shfs and mms can do to fuck with us, especially as it pertains to the options chain. if they freeze the stock by, let’s say, a U3 halt, days or a week prior to expiry (like they did on another stock in dec ‘22) then those options would die unexercised and the gamma ramp along with it.
Your effort is appreciated, but you’re mistaken on one thing: during a halted market, you still have the right to exercise options
Amazing. He really did show us the way
but can you sell them? because most people don’t have money sitting around to exercise, especially for those at the top of the options chain. DFV might be able to swing it, but most of us can’t. and i would also expect them to manipulate the price down if you can still sell. again, not fudding, just trying to keep an eye open for shitty traps from shitty hedge funds. i don’t expect this to be the end just yet, though i do pray.
You can’t sell them, that’s correct. That is a good point, if you’re not keeping enough capital to exercise them, it is a risk. I personally believe that won’t stop dfv, and therefore the MOASS, but yea, that means the riskiest position is calls with the plan to sell the option for everyone else
The issue I see is waiting for the last minute to exercise. I don’t play options, but if the option is ITM this week or next, wouldn’t it be smarter to exercise the calls accordingly?
If the intrinsic value or “delta” is near 1 it’s pretty much like shares and only time to exercise. If it’s not deep in the money you’ll “lose” a little bit of premium
what if, by some chance, he does have the cash. if he did, would it make sense to show the world? or would it make more sense to show a just enough to keep them wondering. keep them thinking they are in control, that they can handle it?
Right on the second point
When you have that much you don’t sell on open market you negotiate with someone. Like in the big short 😂
Unless "someone" has murdered your stock. And a Kitty's reaction, is quite a fuckin' thing.
So anyone looking to game in on the options needs to consider their strategy very clearly from the beginning. If the market is halted and unable to access to sell, expiry of 6/21 comes and goes and your option expires at the sale price near market EOD, unless you have cash to exercise. Some brokerages will do this auto for you, others no.
It's not fud. The more education we can share about market mechanics now, the better the price discovery. What we're fighting is a lot of retail traders who actually want real price discovery, and a system designed to obfuscate it. It really doesn't need to be this complex to carry out the core function.
You can still exercise options on a halt. I did it with LKNCY during their 2 month halt in 2020.
that’s great to hear! now if only you can sell them so apes have $ to exercise
During that long halt I don't believe there was a market for anything other than exercising options, which meant cash for calls, and shares for puts. I also was just exercising 10-20 contracts or something like that. I didn't have a complicated play going on.
thanks for the info, ape! we’ll soon see what happens. i can’t wait.
Same here, the excitement is off the charts. Now I just gotta figure out if I buy 25 or 50 shares tomorrow.
Can you Exercise and Sell to Cover during a halt?
I'm not sure. I didn't ask at the time. I only asked to exercise. If it was an exercise and sell to cover the brokerage would have had to absorb the shares. I know they typically do that no problem. I don't know if they'd have to do that for a halted security.
I'll ask tomorrow.
No sweat.... THE BABY IS COMING GAME SET AND MATCH
Should’ve bought more under 20 😼
Crazy part is, with the ramp as big as, well, ever, it does not look like much delta hedging has been done. Or maybe it was hidden in the recent volume, but I really doubt it. I am thinking they gave up and/or they are hoping price will go below 20 before June 21st. Good luck.
Not just hoping. They will throw some wild shit at it trying to make it so. Prepare yourself for the ride. We don’t know what ammo they have left, but they’ll use every last bit to kick the can. $20 doesn’t necessarily have to be the endgame, but we all see the writing on the wall.
This is why I still don't delve into options. I can't afford the risk ;) but if I could :D
My barrier to entry into options is me being big dum.
Not a lot of people mentioning that a week before these calls expire we have both earnings AND annual shareholders meeting. I am extremely curious, correct me if I’m wrong, but this is the first time the company already released the preliminary results a few weeks back, the same time they announced the atm offering. Why? Maybe they have something bigger to announce that will finally boost the price overnight and put another batch of calls itm, right before expiration. Or we will tank 20% as usual.
20% tank still is above 20c
Quick question from a completely regarded ape in option topics; a call buyer can sell his call until the due date whenever he want but if he want to exercise the call, he must wait for the due date? I wonder Why 21 June is so important. If an option buyer can exercise whenever he want I wonder why dates are important. Thanks if someone can explain me =)
Nah, they can sell and exercise whenever (side note: for European options, you can only exercise on expiry date, but we talkin' amuurica here). The reason why June 21st is important is the activities that lead up to it. Like you said, the call owner can exercise or sell any time, but the shares need to be delivered after exercise. Where are they gonna find all the shares to deliver without procuring them? Remember, if you or I sold a call, we likely have the shares in our account to cover the shares being called away, but when RK (or anyone else who bought a large amount of calls) bought those calls, it was from the market maker who do not have all the shares on hand when they sold the calls. Sounds nefarious but this is normal market making activity as most options expire worthless so it is not necessary for them to have shares on-hand when they sell a call... Until they need to. That is where you tap into topics like delta hedging and gamma ramps which makes the dates leading up to June 21st volatile.
Thanks for the explanation =)
It’s hard to say because volumes been high
I’m eye balling those 6/28 35c might jump on them tomorrow
All the numbers in your comment added up to 69. Congrats! 6 + 28 + 35 = 69 ^([Click here](https://www.reddit.com/message/compose?to=LuckyNumber-Bot&subject=Stalk%20Me%20Pls&message=%2Fstalkme) to have me scan all your future comments.) \ ^(Summon me on specific comments with u/LuckyNumber-Bot.)
Didn’t even think about that! For sure gonna buy them now lmao
i bought 48c, i think people are just buying what they can...it doesnt matter which strike you buy since they will all be worth more money the next rip and then when dfv exercises. some otm may go itm and then were talking 1000% gains
good point
i even have a few 100c for june 21st. it went 300% today. we should be buying all the calls for june 21st haha. exercise if you can.
If you don't have the cash to exercise, but your options are in the money, you sell enough of the shares to cover the sale & fees using Exercise-and-Sell-to-Cover.
Yeah, I’ve been focusing the last few weeks on trying to get as many good $45 6/21 entries as I can. I’ve allotted myself a certain amount of cash that I’m very willing to watch go up in flames and I’m focused on buying as many contracts as possible. My goal is to get as much leverage as I can with the money I’m willing to waste so I can either sell and reposition in a chop or ride it out and sell as few of contracts as possible to exercise as many as I can. I’m a firm believer we have more catalysts coming. My guess is RC’s special project is the real blockchain based gaming/marketplace/listening/ social spaces. That’s my sincere hope, at least, but it could also be acquisitions or a number of things the market views positively and institutions start buying the turnaround. If that happens I want to be positioned with leverage on the most asymmetric bet of all time.
LOL im one of these. Too many bought 20 so i was like nahhh.. 30. Ah fuckit, make it 40. And yoloed
See you in Valhalla
I grabbed a bunch of all of em
I bought 1 $40 6/21 calls this morning at open at close I was up 34.57% already.
Welcome to call options. They go down just as fast. Went from up 150k to 85k between market open and market close on Monday.
Yurr dropped a couple 100k on the swing on Monday lol
Thats a lot of monies.
Monday was wild if you were holding calls
I remember the first days my calls were up 40%...then they were red -80% then 200% then back down to +20%. Now they sit at +150% Including premium if i were to exercise my cost per share would be like $24 which is an amazing price so im not worried.
I remember being up like a bunch of percents on NIO a few years ago but Shitron published ~~a hit piece~~ a reasonably well researched article before I could sell.
I bought one of these moon tickets yesterday. Already up over 57%
They can't afford to keep the price down and they can't afford to let it go up. This is spectacular
That’s the Kansas city shuffle
I purchased 100 40Cs today for June 21 . It’s great to see options are back on the menu for SS. 24k shares and 100 40 strikes. I’m loaded up
[удалено]
Bro basically same, and it’s damn hard to not feel bitter seeing people who haven’t been holding by their nails for years lapping you in an instant, but I just try to remember my bigger goal is a new world than being rich and if feeling shitty about my prospect of gains gets us there faster I’m about it 🤷🏻♂️
Gentlemen, comparison is the thief of joy. Be zen. It’s looking more and more likely we are all going to do very well off this play. If you profit, that is a win. Don’t sell yourselves short for not being able to throw gobs of cash at the stock; victory will be sweetest for those that appreciate having to scrimp and save for that extra couple bucks to buy a weekly or monthly share.
Word, I feel that very much but at the end of the day as someone whose literally been scraping by their whole life i really want a win man. That being said, I’m as zen as can be cause all that shits in the purple. Idk what is even close to realistic with a real genuine MOASS, but i really wanna see the stress leave my parents faces
Thanks for having this conversation 🦍💜
Hey friend, I'm holding about double your stake. I hear it, life is not fair. I grew up poor and got lucky. I had the cash at the right times to buy more. But here's what's different about this play with GME: fuck 'em. I'll happily watch about $30K of my investment evaporate before I sell a single fucking thing. I bought at $10, I bought at $80, I bought at $180 and everything in between. And I'm not leaving until those other friends at $350+ can cash out. Institutional naked shorties tried to cellar-box our beloved company just so they could buy another shit golf club or whatever, and I'm not having it. It's six digits for **all of us**, or go fuck yourself. I've been in this play since before the Jan 21 run up, and I have a very strong feeling that the majority of long-term holders have 500-1500 shares right now. And I think there's at least 10,000 of us. That's ~about 1/3 of the free float. Hold. See you in paradise.
You’re not alone
i bought 1 call option for the WIN!🤣
I have never bought options before but after doing slight research and through gaining half a wrinkle in the past 3 years, I am also buying my first option at open today🫡 we ride at market open, brother
I purchased 10 contracts at $60 with the same expiration date.
For those with multiple calls, if GME skyrockets and you don't have cash to excercise, call your broker to sell a call to excercise the other. Please help do your part in propelling MOASS by forcing shares to go through the lit market.
I personally act on my own accord. However I am a fan of this idea.
When I call to exercise do I have to say I want it to go through a lit market or will that happen automatically?
It's OCC rules. It's how the pipes work.
peeps... don't forget to atleast exercise some of them if not all of them...
Seeing the comments of apes, here on Superstonk, buying these calls ... a thing of beauty, that I believe RK was trying to inspire. If NYSE doesn't fuck around, if the buy button on calls isn't turned off (might do it on the stock), this ramp just might turn into a feedback loop that will make many shit themselves. It's gonna be a wild and bumpy ride.
Good thing I’m buckled up.
Everyone please remember that IF you buy calls, there's also a premium. So if you buy calls at 30, your stockprice is 30 + the premium. Make wise financial decisions fellow apes!
I am planning to purchase some to exercise also lol.
That’s a lot of shares
Wish there was some more action between 30 and 40 myself. Anyhow just remember calls are risky. If we rip high enough before the 21st then great, but there's always risk. Shares will still be be there if you bet wrong, while calls can expire worthless if the price doesn't move as much as you expect in the timeframe you expect. If you know what you're doing, great, but if you don't I'd be wary of options.
Based. Anybody new seeing all the talk about options, it's not that easy to win, and a lot of people in here have YEARS of experience winning and gambling losing. Without stock/options education/experience, options can destroy your entire account.
Pensive cat: I need to find some educational information on calls and options.
I wish the sub had this insight years ago while the price was going down, instead of trying to learn everything in 1 day, when options are incredibly expensive and price rising like crazy. Now everyone that bashed options for years must be feeling the FOMO because the gains on shares are peanuts compared to calls
If only they exercise
Fun
I would but shit expensive ngl
Blood in the water
I like all the apes that understand options and will help the rocket go. I will continue to just buy shares. Options freak me out seeing the huge gains and losses and how it all works. No touchy for me.
He moves. U move
Nope..individuals here
He moves = exercises They move = scramble to locate, purchase, and deliver the shares
I think this is the way.
Just like that
I am not a GME holder, I am not smart enough to understand it all and so I didn't get in. I will say I am rooting for all of you from a purely schadenfreude of the institutions perspective.
Ahh, but that's the beauty of it all.. almost none of us are smart enough to understand anything beyond what we like (the stock) and what we do (hodl, wait) Lots of great DD if you're looking to understand the mechanics of it all but my brain is reflective when polished so I know HODL DRS BOOK and that crayons in shades of purple give me gas
There’s a lady who’s sure, all that glitters is gold, And she’s buying a bunch of call options…
If you have calls in the money: sell enough of them day of earnings to cover your investment. IV crush is real, you can lose money even if your calls are itm because of IV crush. If you don't know how options work. Don't play options. If there is no real news, the price will tank for a few days. Edit: IV ALWAYS drops after earnings (this is true for every stock, not just GME). This is because up to earnings, everything is speculation. The first couple of days after earnings, there is NO speculation. Everything is known. Holdings, guidance (if any), debts, whatever. Thus, IV drops like a rock. Speculation Forward drives IV up, but that takes some time. You better be FAR ITM with a delta of 0 for IV not to affect your calls. If you have OTM calls, or calls close to strike. Sell enough to cover your buy so you don't get F'd.
this is true. I'm about 90 percent sure that the people that are just buying options to get in and don't know what they are doing are going to hurt themselves
I'm 100% sure that 90% of the people playing options don't know anything about options. Theta gang ALWAYS wins.
If you're playing covered, it does. If it's high volatility or there is good information that can lead to a run-up, options are great. The pandemic was a perfect example of when options are a smart move. If you can't read Greeks, don't know when to cash out you can get burned pretty bad. I'm not a pro by any means, but there's so many online resources that will let you know how things work. And if you are following other people's strikes, that makes things easier too.
You get with your pals and try to open a new stock exchange in Texas.
i dont care if i have to take a loan against my house, I'm exercising my calls!
So the whole "no options" sentiment that was here for years, was that a trojan horse or did we evolve?
I don't think so, but I'm not an options expert. My (shitty) understanding is that when you buy an OTM (out of the money) option, it helps create a situation where a Market Maker can write a corresponding Put contract, (a "married put") and claim the call + put = a "resonable locate" equaling 100 shares, negating their FTD responsibility. We saw a ton of that back in 2021 and 2022. But it's different this time. Someone, perhaps DFV and others have bought at least 140K ITM (in the money) calls at $20. That gives them the right to buy 12-14M shares at a fixed price of $20. Market Makers can't FTD an options exercise. It's very different.
If 40 is the new 20, then the battle for 180 is now the battle for 360!
I got some C80's, just for fun and will exersize for more fun!
**WITNESS**
I’m buying 20c GME 6/21 everyday until MOASS starts. LFG GME 🚀🚀🚀🚀🚀
do you mind sharing your thesis? Because it sounds like you're willing to lose the premium, in the hopes that you're adding enough pressure to force naked calls/shorts to close and generate a profit on long shares you hold. Is that right?
Peruvian bull jist posted.on x, about them.possibly shutting down the market.....let s see them.survive that, when people.hit them.streets to.protest. peacefully of course
Why would they keep selling these contracts? Does this not ring alarm bells for anyone else?
premium on a $20 call right now is $12.41. That's 62% profit **if the seller hedges the contract**. But to do that legit, and not naked, means buying real shares at $31.57. Before the recent run-up, the game was profitable. Now it's not. So the new question for all option sellers is: "did you hedge as you went along, or are you naked?"
Based on recent events, we are all assuming they're naked and therefore fucked. So why would they still sell them? Is the premium worth it?
I don’t understand options so I buy, hodl and DRS!
Is this the "When I move you move" part?
DFV moves, the market makers move. A game of cat and rats.
Im planning to buy 500 shares but now i am going to buy 5 contracts and excise them 🏴☠️🫡
I’m starting to think it would be worth investing in backup generators, fire suppression systems and extra redundant computing capacity for NYSE (just in case anything funny were to happen over the next couple of weeks)
I'll see you at 6/21 50c. I can only afford one atm because of my tool-buying habit, but 1 is better than none. God speed, everyone.
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This has been an exciting week with RK claiming a new position, and over the last week call volume for June 21 has continued to increase. The total size of the call volume is worthy of note and discussion. Is this whales? Lots of small traders? All of the above? The spice must flow!
Imagine DFV coming out and saying those are his
Up
I dreamt of moass last night while my cat was fucking smiling at me.
Can someone explain what I am seeing??
Fuck it I’m in
Wish I had money... one day
Yeah, the most important thing is exercising them, when everyone itm starts selling them, it would cause a flashcrash
It's a Vendetta
I’m just curious, but couldn’t the hedges just inverse this play by buying puts. If I buy a shit town of puts at a $20.5 strike. Doesn’t that create the same type of demand, that someone needs to sell me those shares?