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theesotericone

Build It Beat It Break It. Repeat
Fredo Baggins
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You better hope. The announcements have all been made. Everyone that just made a buck is going to cash out and get their money. It's probably going to drop.

LOL. It's not hope. With me it's never hope. Short interest is 125%. That means that shorts where sold multiple times. A lot of those shorts have to cover by JAN 15th. That's tomorrow. Tell me what happens when all those shorts try buying the shares. The price sure as shit won't go down. Buying pressure will drive it to $50.
 

theesotericone

Build It Beat It Break It. Repeat
Fredo Baggins
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Think so with the recent spike?
Are you thinking to short term hold it and sell it tomorrow or hold for a while?

I think so. I picked up 7 FEB 19th $39 calls this morning. They are up 58% so far. I'll set a trailing stop at 25%. So they sell when they sell. Could be tomorrow could be expiry day. lol
 

Dukestaco

Stirring the pot 24/7
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LOL. It's not hope. With me it's never hope. Short interest is 125%. That means that shorts where sold multiple times. A lot of those shorts have to cover by JAN 15th. That's tomorrow. Tell me what happens when all those shorts try buying the shares. The price sure as shit won't go down. Buying pressure will drive it to $50.
Ok. I’ll play. I’ll need to be in and out by 12. Have to work and can’t have the phone on at work.
 

AssBurns

will wheel for beer
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I think so. I picked up 7 FEB 19th $39 calls this morning. They are up 58% so far. I'll set a trailing stop at 25%. So they sell when they sell. Could be tomorrow could be expiry day. lol
Damn how much were the options this morning for that call? Right now it's up at $9.15. I've never done options trading, so I'm gonna sit this one out, but curious to know what the cost was this morning.
 

theesotericone

Build It Beat It Break It. Repeat
Fredo Baggins
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Damn how much were the options this morning for that call? Right now it's up at $9.15. I've never done options trading, so I'm gonna sit this one out, but curious to know what the cost was this morning.

I bought at different times in 2 lots but my cost basis(average) is $5.95. They are at $9.40 now. GME is up another $2 after hours. Tomorrow's gonna be a good day.
 

Dukestaco

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I bought at different times in 2 lots but my cost basis(average) is $5.95. They are at $9.40 now. GME is up another $2 after hours. Tomorrow's gonna be a good day.
Been reading on it. The shorts are betting against the calls and vise Versus. It’s going that be interesting to say the least
 

Mike_taco4x4

Overlandbound #23345
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I bought some back early today. Hesitant cause it could be a cash out Friday. I dont think the squeeze is done. Id be up thousands if I didnt sell it last week.
 

theesotericone

Build It Beat It Break It. Repeat
Fredo Baggins
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Been reading on it. The shorts are betting against the calls and vise Versus. It’s going that be interesting to say the least

The shorts have been betting on a price drop for months. Just like options contracts short positions have to be payed back on X date. Unlike options contracts when shorts cover they have to pay current market price. That's about $40.

They can also buy options to cover but it is still the same price. There's no time decay or extrinsic value left. The only value is intrinsic. That means that if the Strike was $30 the call contract is worth $10. So the seller pays $40 total. Same as the underlying asset price. There's no way the shorts that are expiring tomorrow can use options to cover their positions at a cheaper cost.

So you get the short squeeze. Bears scurrying to cover their short position. In this case that position is greater then the outstanding number of shares. It's gonna be wild. Implied volatility is over 600% for GME tomorrow. The swings will be epic.
 

theesotericone

Build It Beat It Break It. Repeat
Fredo Baggins
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I bought some back early today. Hesitant cause it could be a cash out Friday. I dont think the squeeze is done. Id be up thousands if I didnt sell it last week.

Here's a tip for next time. IDK how many shares you had but it really doesn't matter for this. Once your positions are way up sell enough to cover your capitol. Let the rest ride. That way if the uptrend continues you still profit. If it craters your out nothing.

Once any of my options contracts reach 50-100% returns I sell enough to recoup my cash. The rest I let ride. I did that with NIO. The options I have expiring tomorrow are paid for because I sold 1/2 my positions at about 110% profit. I have all my money back on that trade and those remaining options are worth 4K right now.
 

Mike_taco4x4

Overlandbound #23345
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Here's a tip for next time. IDK how many shares you had but it really doesn't matter for this. Once your positions are way up sell enough to cover your capitol. Let the rest ride. That way if the uptrend continues you still profit. If it craters your out nothing.

Once any of my options contracts reach 50-100% returns I sell enough to recoup my cash. The rest I let ride. I did that with NIO. The options I have expiring tomorrow are paid for because I sold 1/2 my positions at about 110% profit. I have all my money back on that trade and those remaining options are worth 4K right now.
But for this time ypur saying to the moon GME Mike put a bunch of money on it now!
 

Mike_taco4x4

Overlandbound #23345
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Did you get in on the dip? I picked up a bunch more calls.
Yeah. I only put 1500 on GME with a trail stop. Should I shift some money around and do more.lol?
My FCEL stock better be a good long hold cause i just watched thousands in profits disappear this week.
 

theesotericone

Build It Beat It Break It. Repeat
Fredo Baggins
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Yeah. I only put 1500 on GME with a trail stop. Should I shift some money around and do more.lol?
My FCEL stock better be a good long hold cause i just watched thousands in profits disappear this week.

I'm just trading it with free cash. The markets getting beat to shit today. That's after Biden announced his $1.9T stimulus last night. As long as there's no more crazy shit happening it should recover after Biden gets in office. If I'm wrong I'm probably going to have to sell my rig. lol
 
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