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Stonk Madness
#1
This needs to be it's own thread.
Any and all discussion / trades / whatever related to this phenomena. 

Personally. I did my trades. Made a bit of money, not much but whatever happens I'm in the green.

That's it for the financial part for me. This is more than just about money. This will, very very likely, end up very very badly. I don't think anyone knows what is going to happen today with BILLIONS of dollars worth of stock needing to go to call option holders... and apparently quite a nice part of the float locked up. I have no idea what is going to happen but chances are it'll be huge one way or the other. Let's just hope the referee won't blow the whistle, because I have a feeling the referee won't be impartial. The big boys have a tendency to win in the end, using whatever means necessary, and to get away with it. That is the reality and will probably be the case here too.


I really think GME stock will touch ~$200 today. It'll also touch $500 today. This sort of volatility is unprecedented on any level. I would venture a guess that it'll close somewhere between $10 and $1000, but I fully realize that this ballpark might be too narrow.

This is the most fun I've had in my investing career. What a time to be alive. I am still in. We will see this through, to zero or to infinity. Whether you have money in or not, please do keep up to date on https://www.reddit.com/r/wallstreetbets/ . It's a gold mine of information, comedy, and quite frankly such an amazing united crowd who deserve our respects.

To those who are in it for financial gain: good luck and make sure to be careful.
To those who are in it for the stonk wars: Diamond hands my brothers and sisters. See you on Pluto.
To those simply watching the show: enjoy Smile
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#2
It will be interesting

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#3
Good idea on the new thread. This isn't going to be over today. Definitely the most entertaining the markets have been since the magic rise of digital currency to 10K and before that the internet bubble. It's going to end so ugly for those who don't get out with a profit, and that flies in the face of the thesis to run it "To the moon". We need rocket ship emojis here lol.

So much going on here. Options expiration should be interesting. I'm sure some individual investors were shorting yesterday when the trade restrictions were announced. The real current short share count would be interesting to know. You just know a ton of this gambling is on margin. I'm guessing margin calls are going to be just about real time if they aren't already. It's supposed to be a zero sum game. Just as many losers as winners. It's not economic independence and retire early for all the little guys that jump on the cause (obvious to us on this forum) In the end we'll have better regulations IMO. The SEC has little choice as they will move on to more small-caps in a few weeks and it will be no different than pink sheet land. That isn't what we need as investors.
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#4
All short squeezes are pump and dumps, in a manner of speaking. There is eventually a peak.

Did hedge funds use yesterday's pause in brokerages allowing GME purchases to get as close to net neutral as possible. Will GME issue more shares into the market to pay down debt (thereby creating supply for shorts)... tulip mania eventually comes to an end.

Diamond hands is code for "I need you to hold this bag as long as possible, so I can make a bigger profit when I decide to sell."

That said, to the moon baby. I got in on some GME at an average of $220 yesterday afternoon. Pre-Market looking exciting.
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#5
Agree with the diamond hands comment. This isn't bitcoin that goes who knows where in a year. Its not AAPL or JNJ having a bad quarter. Some followers will learn an expensive lesson soon.
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#6
I toilet paper handed my GME shares for a 38% gain, and NOK weeklies for a 36% gain. Might put a gazebo over the new hot tub whenever the snow melts.
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#7
(01-29-2021, 09:47 AM)Otter Wrote: I toilet paper handed my GME shares for a 38% gain, and NOK weeklies for a 36% gain. Might put a gazebo over the new hot tub whenever the snow melts.

Did my part yesterday bought 1 share GME @218 #cantstopwontstopgamestop!
Tried to sell a 4.50 cash secured put on NOK yesterday expiring today for .28 and TD Ameritrade had it restricted, free market my ass.
This is going to leave a bad taste for a long time
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#8
(01-29-2021, 10:46 AM)john Wrote:
(01-29-2021, 09:47 AM)Otter Wrote: I toilet paper handed my GME shares for a 38% gain, and NOK weeklies for a 36% gain. Might put a gazebo over the new hot tub whenever the snow melts.

Did my part yesterday bought 1 share GME @218 #cantstopwontstopgamestop!
Tried to sell a 4.50 cash secured put on NOK yesterday expiring today for .28 and TD Ameritrade had it restricted, free market my ass.
This is going to leave a bad taste for a long time

[Image: 3eCX14f.png]

This is the craziest implied volatility I have ever seen. I sold those Puts when GME was just under $40. In a sane market, they could be bought back for $0.01/contract with GME over $300. 

Assuming GME stays above $20 through February 19 (which is why I sold them in the first place), I'm curious just how close to expiry we have to get for those puts to be worth less than I sold them for.  
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#9
I live for these days so I can sell covered puts which is my core strategy. I'm not talking GME of course, but even boring stocks that aren't going to move all that much more than usual get pretty lucrative for somewhat out of the money and very short term options. Love me some high VIX when I have cash.
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#10
Reading Reddit is painful tonight. Many getting very inspired by the massive volume of open interest and volume of calls at strike 800, expiring as early as this Friday. The whales are obviously betting the stock runs to 800 in a day or so right? Yeah, maybe retail is that delusional or could it be some some institutional money is hedging short positions? Hard to even feel sorry for them if they are buying GME spikes based on options most of them have near zero understanding of. Many options strategies can be in play.
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