Stonk Madness

[ChadR]

I looked at the prices for buying puts when GME was dropping and the prices were outrageous.

[fenders53]

(03-08-2021, 12:42 PM)ChadR Wrote: I looked at the prices for buying puts when GME was dropping and the prices were outrageous.

It's a bad game to play.  You can be crazy right and still lose.

[crimsonghost747]

Yeah don't buy the options, unless you really believe in the squoze and are happy buying a $600 call or something.

But yeah, I thought it was over when we were at $40 and $50 for weeks. That was the spot for the shorts to cover (at a massive loss) but right now my theory is this:
a)the big boys just cannot accept losing to monkeys, so they never covered.
and/or
b) when we were at $40 the smart people got out but lots of people also shorted because they thought it'd go back to $15.

The short interest is still massive, otherwise it wouldn't have jumped from $40 to $120 in days.

[fenders53]

(03-08-2021, 01:18 PM)crimsonghost747 Wrote: Yeah don't buy the options, unless you really believe in the squoze and are happy buying a $600 call or something.

But yeah, I thought it was over when we were at $40 and $50 for weeks. That was the spot for the shorts to cover (at a massive loss) but right now my theory is this:
a)the big boys just cannot accept losing to monkeys, so they never covered.
and/or
b) when we were at $40 the smart people got out but lots of people also shorted because they thought it'd go back to $15.

The short interest is still massive, otherwise it wouldn't have jumped from $40 to $120 in days.

The short position was so ridiculous it could be cut in half now and it's still a problem.  By now there are pros with money riding the monkey long train. This could continue off and on for a long time.  I am sure some non-pros with money thought shorting at $50 was easy money.  The Senate has no clue what to do about this.  The SEC probably hoped it would just fade away.

[fenders53]

Shorts are squirming again. I suppose a few may have shorted higher, but not many most likely and they had at least a week to cover sub $60. They will be turning up the tricks today before it goes truly parabolic on them. This is about where Reddit FOMO kicks in.

[crimsonghost747]

On that note, my GME position is FINALLY in the green again.

[fenders53]

(03-09-2021, 12:24 PM)crimsonghost747 Wrote: On that note, my GME position is FINALLY in the green again.

That was a close one buddy.  Good thing I didn't call you a WSB Idiot or anything mean.     

Good, now I have somebody to cheerlead for.  Go Apes Go lol.

[ken-do-nim]

So once again GameStop is closing in on $300/share, and likewise my RETL index fund is soaring as well (GameStop being roughly 5% of the index). So I sold. This is now the second time I've sold RETL because GME got too high. Hopefully I can once again buy back in at a lower price once GME cools off.

The funny/sad part is that I haven't contributed to my ROTH IRA since 2015, and even though I've been putting every cent I earn into my taxable brokerage account since this time last year and it was at one point $10k ahead, the ROTH has pulled ahead once again, in large part thanks to GameStop.

[fenders53]

(03-10-2021, 11:18 AM)ken-do-nim Wrote: So once again GameStop is closing in on $300/share, and likewise my RETL index fund is soaring as well (GameStop being roughly 5% of the index).  So I sold.  This is now the second time I've sold RETL because GME got too high.  Hopefully I can once again buy back in at a lower price once GME cools off.

The funny/sad part is that I haven't contributed to my ROTH IRA since 2015, and even though I've been putting every cent I earn into my taxable brokerage account since this time last year and it was at one point $10k ahead, the ROTH has pulled ahead once again, in large part thanks to GameStop.

Volatility is our friend sometimes.  I am certainly not a day trader, but when the market offers up foolishness now and then you gotta take some profits and not look back.  GME might go to 1000, it might go to 20, or maybe both.  

Crimson is probably picking out his Lambo today.  I do hope he gets a black one LMAO. 

[crimsonghost747]

Unfortunately I have way too little in GME to make life changing profits, unless it truly explodes to $20k or so.
But it's a ton of fun though.

[fenders53]

May have to do it every month and make car payments lol. Today might be good if shorts can't open new positions? Turned into quite the battle. It appears a lot of pro money is playing both sides.

[crimsonghost747]

So the newest development, and why this whole thing is so amazing.

Sure, a lot of people are in it to make a profit.
But it's more than just about the money. It's about having fun, it's about making a point, and finally: it's about making the world a better place.

So one retard decided that he will spend a few dollars from his profits to "adopt a gorilla" because apes stronk together.
A day or so later? Reddit is FULL of people donating to all sorts of animal charities. Just check this out, one of the ape charities received over $77k in one day.
https://twitter.com/SavingGorillas/statu...4405226508

Another recurring theme (for weeks now) has been to go to GameStop and buy up gaming consoles (mainly Nintendo switches from what I've seen) and games and donate them to the local children's hospital.

Humankind does have it's moments.