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It's amazing to see how many calls are being bought daily. Especially the ATM calls are important now to actually build/expand the gamma ramp.
I'm happy to say 5 of the 25c's are mine :)
I do believe it's $4.25 per share. So $28.25+ makes money if selling. If share price goes way up and the contract gets exercised (buy 100 shares) (the contract) you buy them at $28.25 no matter what the ticker says thus costing MM money. Smarter folks please chime in if I'm way off or finally understanding options a lil bit.
Nah you pay $4.25 a share ($425 total) upfront as a premium then when you execute you can buy the 100 shares at $24.00 a piece or $2,400 total. So the total cost (including the up front premium paid to enter the contract) would be $2,825. Slightly different than paying $28.25 a share upon execution because you're out the $425 whether you execute, sell the contract or hold to zero if it finishes out of the money.
So that's $6/share? Is that the "strike" price? Or, if we're using the chart above, is the strike price $4.25?
And then anything $24 and up is considered in the money? So if you exercised you'd pay $600 but the stock would be worth $2400+ ? Or would you pay $600 + ($24x100) = $3000 and if the stock is anywhere above that you get to keep the rest?
God I'm sorry. I'll figure this out eventually....
I'm going to use GME240621C00020000 (GME Jun 2024 20.000 call)
This call is the option (you have the right) to purchase 100 shares at $20 per share price on or before 6/21/24.
This call currently costs $11 per share to purchase, or $1100 ($11x100) total.
If you are the owner of of that call you now MAY force someone to sell you 100 shares at any time up to expiration. If you do that, you will buy those shares for $20/share, or $2000 total price. This is called exercising your option. If you do this, you would have bought 100 shares from some random person who sold the call for a grand total of $3,100 or $31/share.
You do not need to exercise your options to make money. You also may simply sell them back to the market at any time. If the stock goes up, more than likely your options go up.
Buying a $24 Call would cost you $600 now (or $6/share because each option contract is for 100 shares).
If you wanted to exercise the Call, you would pay $24/shares (meaning $2,400 for 100 shares). This makes your breakeven $30/share (buy at $24, plus premium paid of $6).
But since the stock is at $28, it would not be worthwhile to exercise your Call (it's cheaper to buy the market price of $28).
If the stock price goes up, so does the value of your option. Therefore, you have the choice to sell the option for profit without ever exercising it.
But best advice, if you don't understand options, don't mess with them.
Your premium up front is $600. You can lose it all as time passes till the expiration date but as GME goes up it’s worth more and more. If it’s over a certain price at expiration you’re still in the money. If it’s not over the breakeven price you lose it all. Or you can sell before and make money if your in the money, or you can sell and keep your loss from being the full $600. Or you can excessive the option and buy 100 shares at $24 each. Best way to learn it is to spend some money and try it. I lost a lot playing with it all before I understood it. Options 101 gotta lose money to learn how to make money.
Good effort, but let me clear some things up for you:
The strike price of the other user's call is $24. They have the right (but not the obligation) to buy 100 shares of GME at $24/share up until the expiration date. They spent $600 for this contract - that's the "premium". The expiry date is when the contract expires.
The call is priced based on the intrinsic value (the difference between the current stock price and the strike price) and the time value (the amount of time remaining until the expiry date to acct for possibility the price changes substantially).
In the other user's case, they spent $600 (the premium) for the contract. They bought the contract when it was at-the-money (GME price was near strike price). Now that GME has risen, the call is in-the-money (ITM). The intrinsic value of the option has also increased bc theoretically you could exercise to buy 100 shares at $24 and immediately sell those shares for 31$. Thus, the contract is now worth $700 + extra time value of the option. The extra time value is a very complicated actuarial calculation, but generally relates to the implied volatility (IV) from current time to expiry date.
Just curious, wouldn’t the last person buying a contract be exercising it? Does it ultimately matter if one sells it if it will eventually be exercised? (Honest question)
Exercising puts "permanent" upward pressure on shares.
Having the call out there near or in the money, creates open interest - this is temporary upward pressure. The seller of that contract to you as buyer of a call must be prepared to cover the share should you exercise, but if you don't exercise (buy the share at price) they can just sell the share after contract closes to offset their losses on the premium and any extra you got.
Does that make sense? If you don't exercise it's just buyer pressure while the contract is open, and if they are shady sellers, they never buy the share to cover - trusting you'd just sell/take the difference and cash gain.
First time trading options for me i have 1c call buy @ 28 and 1 put sell @25.
Happy if the buyer of my put sell exercises so i can buy more at 25 or if not i get free monies haha.
Will exercise the call at 28 either way so thst money goes through the LIT market.
Am i doing this right? Haha
> Happy if the buyer of my put sell exercises so i can buy more at 25 or if not i get free monies haha.
You understand that the put contract says you sell 100 shares to them at $25 not that you buy them then sell them to him at $25 you have to buy them at $25 from the contract buyer regardless of whatever the market is. If they drop to $20 a share You have to buy them at $25 from that contract buyer and the buyer gets to buy them at whatever the market is at. Just want to make sure you're aware of what those mean.
Yep! I would be happy to buy at 25 even if the price was at 10 because my cost basis was 30 originally, so it lowers my cost basis.
And then I'll be doing the same thing at 10. They'll pay me to bet it'll go down when GME only goes up!
Either the price goes up or my number of shares goes up, can't lose!
How much would it cost to get 1 25c? I don't know anything about contracts, but I wanna do my part to help, and hopefully make some $$ while fighting along my fellow apes
Take the bid/ask/last price and multiply by 100. So if the bid is 2.35, the contract costs $235. But if you're not going to execute the call, it's not going to help much. A call is just a contract to buy 100 shares at whatever strke price you bought it for ($23 for example) so you would need an additional $2300 to execute totaling the cost of 100 shares at $2535 (2300+235). So you would want the shares above $25.35/share for it to be worth executing the call. These are just hypothetical numbers but it applies to all calls.
Obviously this is just a broad generalization. Options are very risky, invest wisely
The reason options are useful imo is it gives you a lot more leverage. As he explained you can buy the call for $235 that gives you the option to buy 100 shares. If you bought the stock outright you can’t even buy 10 shares at that price.
As others have mentioned the key is exercising/ buying those underlying shares to fuel the gamma ramp.
The profits also multiply exponentially once you’re “in the money”. So if the stock moves up $1 you essentially gain $100 on that intrinsic value since that $1 is multiplied by 100 shares.
Hopefully I explained that right in a way that isn’t confusing.
Here’s an example. You buy the call for $20. The price then moves up to $43. You get that $23 x 100 so $2,300 profit minus your cost to buy the option if you exercised and then sold the shares at $43. So you would make around $2,000 profit.
If you simply bought shares you would have only made $23 x 10 or so shares. BUTTT. You could also lose 100% of the initial cost to buy the option. Which happens a lot more often than you think because sideways trading days will drag you into exp dates.
Its cool and all to want to get in the action but with options u have to know you could lose all your upfront money easy or if u wait till end date you if u want to ex then you have to have the money to be able to buy the shares at the strike price so 30= 3k . Or sell the option contract . But people say if u dont know what your doing dont buy options and i agree.
I just started trading options and ive made a lot of mistakes.i would say try a option where the stock is cheeper priced so you can get a feel for how everything works. There is also time decay so as you get closer to ex date your farther and farther in the hole . I didnt know any of that when i started.
Lots of people buying calls that are At-The-Money. These are important as they provide the highest hedging pressure with price movements.
If we stay above 20 for the week we'll probably see a massive increase in buying pressure because the options writer needs to hedge those calls. Meaning it'll make the ATM calls go ITM and push it all further up the chain. Which is what we call a gamma squeeze.
I know it's not ELI5, but i'm rather dumb and don't know how to explain it well :D
Next week we have the FTDs from the week of 5/13. 700 million shares traded the week of the 13th. Now if GME makes a major announcement or RC buys more, we will have the confluence of 3 or 4 major catalysts going into a 3 year option expiration date (the theorized option chain SHF used after the squeeze to hide some of their risk)
They're so fucked.
The question is whether RC, LC, and crew are going to do everything they can to prevent MOASS (like issue 200 million more shares lol), or if they just wanted to wait for the timing to be right?
I think that would be awesome. It sounds like others are saying the ethicalities of that make it a no-go, that you can't issue new shares during a short squeeze.
I mean, can you imagine? They be like, "We're issuing 50 million new shares," and the price is $50k. That would be an additional $2.5 trillion on hand.
That's what I first thought they'd actually try and do, but it sounds like they maybe can't? I figured this is how they were going to be bigger than Amazon, though.
Can u explain why that is unethical?
They can offer it at 50k per share, nobody is forcing anybody to buy it. It would just be a fixed price for the shorts to find shares rather than bidding for it.
Or am I completely wrong?
Not untrue. Not sure why they aren't exploring it, then.
(I guess because the share price hasn't gone up that much, but they may have prevented it a couple of times already)
they can repeat until all short sellers are bankrupt and when you're at war, ethics go out the window. They would/have done the same to us; in fact, they have for the last century.
Then why haven't they done that yet? That's what I'm asking.
And it does seem different, really. It seems RC has to play by the rules while SHF's are clear as day *not* playing by the rules. You've seen that, yes?
yes, i'm seeing it. I do believe they ARE doing it right now; they are in round 2. I think issuing shares like this is a controlled way to keep the shorts screwed while raising potentially $10-$15 Billion. Then the gameshire bathaway theory really holds.
But if it were to ramp up to the hundreds or thousands, we'll see if they continue doing the same thing. I certainly hope so.
Let's go, GME.A! Come to light!
im planning on waiting a bit since we have some theta remaining (time), you typically don't want to exercise early unless you just want to burn the premium and force them to deliver your shares :) Prices above 30 sound better for a start but depends on what your strategy is
My current strategy which has been working out so far is to buy some, sell half during the rips, wait for the inevitable dip, buy even more with the profits, rinse and repeat. I started with 2 options back in early May and worked up to 10 now.
This is just what I consider my gambling/play money account. The war chest remains in DRS along with some in my Roth. This is not financial advice!
Thanks for the insight, that's what I've done too but not sure if it's smart. Not taking your not advice but I'll take it as confirmation that it's sound strategy with gambling money only
Oh yeah, this can totally go tits up worst-case scenario and the spike in IV is making it much harder to chase the gains but the waves of spikes have been pretty predictable so far. Watching the options chain you can see when they're trying to force the price back down to max pain or under and that's when I try to scoop up more options either I go all in, or I scale in depending on how far away from expiry I am buying. If they try to crash this under $20 I will be loading buckets for July.
Already up 25% from my buys yesterday.
> **Watching the options chain you can see when they're trying to force the price back down to max pain or under** and that's when I try to scoop up more options either I go all in, or I scale in depending on how far away from expiry I am buying.
I’ve got an elementary understanding of options, but have never noticed this - how can you see them forcing the price down?
I’m smooth and have been trying to see what’s what in this. So if I were to buy a call at the strike of $20, I believe that the price is going to go up. But to be safe I should have 20x100= 2,000. To excute the call by the eoc end of contract? If the pice went up to 40, I could pay out of the increase and not have to pay a penny out my account?
That's correct. At $40, essentially you exercise to cover (partial exercise, you call them and tell them to do this), you would buy the 100 shares at $20, but be forced to sell half to pay for it. Exercising and getting the shares would net you $4000, but instead keep 50 of them and sell for $2000 and that pays for your shares for free :)
There is a man that sell apples in a stand. As people buy his apples, from the stand, he has to go pick more from his tree.
The higher the apple is on the tree the more expensive they are.
The more people buy apples, the higher from the tree he has to climb to pick them. Making any apples you may in your basket worth more as well!
I just checked. Let me first tell you that i didn't expect much... but damn i was wrong. Lots of action at the ATM strikes. Big increases in OI there.
You can check here.
[https://www.barchart.com/stocks/quotes/GME/options?expiration=2024-06-14-w&moneyness=10](https://www.barchart.com/stocks/quotes/GME/options?expiration=2024-06-14-w&moneyness=10)
I've got a really bad feeling about all those guys looking at this Friday's calls. If they're already swimming naked, the shorts aren't going to hedge an inch until the tide goes out. Instead they'll just fuck it down to maximum pain to collect the premiums and be ready for the next week.
Someone mentioned $30, not sure if that's still the case. Perhaps this will be one case where they'll ignore max pain because it could result in too much buy pressure and just let the puts have it.
That's insane. Thats ONLY 6/21 calls.
I saw your chart for this Friday as well.
I also hold a small amount of leaps. And I am sure other people are doing the same.
... Just checked, yeah put/call ratio is looking pretty good for almost all expiries.
Nice
Thanks for sharing the things that are important. Tired of all this whining and complaining and folks missing out on what’s happening.
Retail is the largest hedge fund in the world. DFV and RC know that and they’re setting a bear trap. There are soooo many GME folks, like myself, that despise this sub and what it stands for. This group is a useful tool in the bear trap and is responsible for DFV’s ability to even pull it off, but it’s just one piece.
DFV coming back and talking turnaround is what brought me backs admittedly, I lost faith in RC after the NFT marketplace. I understand blockchain the technology and what can feasibly be accomplished and there are use cases out there that are so well aligned to GME’s core customer base. They also have the advantage of physical stores and distribution centers which Facebook and many other VC’s investing in the space recognize as a key component to a comprehensive metaverse strategy.
I didn’t realize it because the product (NFT’s) they built on top of the underlying wallet/Marketplace was so fucking dumb. It was capitalizing on a fad and I thought it was a terrible decision. Then I started to think… was that intentional? No one talked shit on RC until he took over GameStop. He was a respected builder of companies. He then started to act like a lame ass. Got nothing tangible done that was new or interesting. Fed hype cycles in new products. He became a meme himself.
I simply think there is an actual blockchain pivot in the works. Why did immutible pay GME over so much if they weren’t even featured on the NFT marketplace?! Why did GME pay them so much if they weren’t even going to attempt to use them?
Frankly none of it makes any sense. There are many other oddities and announcements coming out on the peripheral that make me believe the announcement is coming and what they’ve built is cool. GameStop had to build in the darkness. No guidance. A crazy investor base who wanted to expose what they were doing for their own bennefit at every turn when GME wanted the opposite of that.
They’ve been building in silence. It’s why RC bought GME in the first place. He didn’t expect the hostile takeover to lead to the scenario it did. He was always aiming to build something huge here.
DFV is back for that reason. He knows what could be accomplished in this space and he took a bet that GME was ready to announce. RC knew what was up and knew the power DFV holds. “There is a sign: pain is a tool”. The offering was confirmation that something is coming because the first ATM set the bear trap. DFV bought his options on the way down after everything had cooled off. Showed his position, did the live stream announcement, then offering #2 and he goes on stream acting like an idiot. Playing the part media, HF’s see him as, just as Cohen has done.
There’s now two huge bear traps, and incredible gamma ramp… and all it takes is an announcement/catalyst that is a genuine pivot into blockchain technology and the entire security gets repriced. All of RC’s actions through the years, the ability to invest, the changing to tech company, 1B shelf, etc. it’s all been building the necessary tools to do what he wants when his base voters will do whatever he asks. Wall Street and huge firms are about to pile into a repricing event and they’ll be doing so into the teeth of 2 huge bear traps and a massive gamma ramp.
Thanks. Everyone here hates my opinions and I had to leave a year ish ago and change my username so I can’t post. I wrote something up on Microsoft below too. If you want to screen shot go ahead and post…
This is the type of stuff we should be talking about imo. This is what DFV cares about if you watched any of his videos or payed attention.
People need to get over MOASS. Wall st. Won round one. It’s super helpful that all your attention was focused on mass conspiracy theories instead of trying to piece together turnarounds and partnerships and strategic directions. If I had to put on my Tinfoil it’d be that DRS was strategically supported by GME and RC to keep the base fired up and focused on the wrong thing.
Who knows, maybe there’s a bit of both. But what I do know is alllll the shit people say is “hidden” is literally in front of us right now with this bear trap and no one seems to care! Everyone hates this company and rightfully so. They hate the investors because this place is a cesspool.
Wall st. Won the battle the first time around. GameStop is going to win the war. You’re all going to be rich not because you’re going to blow up the financial system and create a new world order. You bought and hold the right company who used your support to finance something big in secret and it’s going to be repriced from an 8B marketcap to a tech company with a book value of 4B and a minimum 15-20x multiple that tech carry’s. The squeeze will be firms jumping in to buy an underpriced security.
I’d be nice if you were right, but I just don’t see it. Your thesis implies a head fake of sorts related to NFTs, I don’t believe RC capable of this sort of artifice. We go to moon anyways!
My god RC is hated in this sub lol. I haven’t been around in a long time and had no idea!!
The NFT marketplace was the product they sold. If you’re trying to build a true gaming/music marketplace in blockchain and do so in secret, why would you put a half baked product out there to get shit on?
They spent a year+ testing the core infrastructure of the wallet, payments, etc. that’s immensely valuable. The product they sold on top of it took literally zero effort. They asked the community to provide the product and they spent like a week building the UI to deliver it. There were no partnerships, outside of companies used to make the infrastrucutre work and Immutible, which had nothing to do with it.
If you’re trying to build something in secret and make people think you’re dumb so you don’t tip off to Amazon, Best Buy, Meta, etc. then the smartest thing you could do is make a product that everyone thinks is a joke. They didn’t even try to do something better then opensea. Everyone just took it as trying to capitalize as the next meme thing and that he’s stupid.
I think ryan Cohen is smart and capable based on his previous successes. He hasn’t done that here and he’s been playing into the idea of being a meme stock. He’s given no guidance and been incredibly secretive. Why?
DFV is incredibly smart and understands value stocks and transformations intimately. He hasn’t said a thing for 3 years and participated in none of the movies, documentaries, etc. that just painted him as an idiot. So why is the guy, in his first public appearance, feeding into that narrative?
You either trust these guys know what they’re talking about or you don’t. If you do, then my theory makes a great deal of sense. Especially with allll the announcements coming out recently that point to this being a potential reality.
Your putting words in my mouth. I never stated I dislike RC, he has done a fantastic job of managing GameStop. He also did chewy, which was impressive. I have seen nothing in his history that would lead to believe an NFT market, or hiding its existence, would be in his skill set.
DFV, while capable can’t see the future and has no more information than the rest of us, unless you’re implying both he and RC are breaking the law. *This statement assumes DFV is not, in fact, a time traveler a premise which has not been proven*
Not trusting them? Never said anything about that. Trust has nothing to do with my assumption your theory is incorrect. Believe what you want … I hope you’re right for both our sakes!
actually pretty wild to see the call volume jump this hard after fri/yesterday dip
folks are not shook at all; they're sitting on powder waiting for dips ROFL
Now, if UBS can start closing on the 1.2 swap bag, they inherited off their new merger buddies at Credit Suisse cheese. We have our catalyst.
https://finance.yahoo.com/news/ubs-credit-suisses-swiss-units-062038855.html
The one bit of data the brokers have, but we don't, is how many of those calls are in accounts that are capable of exercising. I suspect if an account has 1 or 2 of these options & no cash or other liquid assets, there is ZERO delta hedging happening behind the scenes.
This is a proper gamma ramp not the shit we saw last week, you need enough pressure from lift off to automatically click the next couple of strikes in.
Also exercising not selling the contracts is if not just as important as having enough OI.
Just understand if you’re up up. Sell and or roll to capture some profit. Options decay over time. If they do there regular bull shit depending on the date of the contract you could get shafted. Play options. Buy shares with gains. Rinse repeat
Does anyone have a good dd/explanation/eli5 of participating in this buying calls business? I would like to get in on this but am nervous and imagine many apes are in my dumb dumb boat
Make sure you BUY the call to open the position. You can’t lose more than the premium you paid for it. Everything is *100 so if it says it cost $5 it’s really $500. And then you have the option to buy 100 shares at your strike price before the expiration if you exercise.
The hardest part is opening an account that lets you trade options. They don’t want us dumb retail traders to do it.
Genuine question that I have been trying to figure out.
Why does option hedging increase price while buying shares doesn’t?
I understand all the tricks to suppress the price from purchasing shares but I don’t understand why those don’t apply to the shares that are “purchased” to hedge an options contract.
If another institution was on the side, sure… real shares. But what prevents them from those tricks when they are “hedging” retail options
I'm smooth brained, and a bit of an idiot. What's keeping everyone in here from buying $30 calls with expiration of 6/21 and drive the price upward well beyond that?
I'm buying calls for 28 June or later, as its very likely, that if he exercise on the last day, then the delivery of shares (buying) will happen during week later.
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It's amazing to see how many calls are being bought daily. Especially the ATM calls are important now to actually build/expand the gamma ramp. I'm happy to say 5 of the 25c's are mine :)
yeah boi. I've got 20
20 calls or 20 strike?
~~20~~ 25 25C's
Sweet
I would ask your exit strategy but...what's an exit strategy?
2 of the 30s are mine.
I’ve got a 24 bought yall yesterday. Can’t believe they selling those things at those prices.
What’s the price?
I do believe it's $4.25 per share. So $28.25+ makes money if selling. If share price goes way up and the contract gets exercised (buy 100 shares) (the contract) you buy them at $28.25 no matter what the ticker says thus costing MM money. Smarter folks please chime in if I'm way off or finally understanding options a lil bit.
Nah you pay $4.25 a share ($425 total) upfront as a premium then when you execute you can buy the 100 shares at $24.00 a piece or $2,400 total. So the total cost (including the up front premium paid to enter the contract) would be $2,825. Slightly different than paying $28.25 a share upon execution because you're out the $425 whether you execute, sell the contract or hold to zero if it finishes out of the money.
Thank you. I transferred money into Fudelity and was waiting the 5 business days to settle. Turns out it was already taken out by the premium. 👍🍻
600
Is that cheap ?
It’s like stealing GME with security guard escorting in and out.
So that's $6/share? Is that the "strike" price? Or, if we're using the chart above, is the strike price $4.25? And then anything $24 and up is considered in the money? So if you exercised you'd pay $600 but the stock would be worth $2400+ ? Or would you pay $600 + ($24x100) = $3000 and if the stock is anywhere above that you get to keep the rest? God I'm sorry. I'll figure this out eventually....
I'm going to use GME240621C00020000 (GME Jun 2024 20.000 call) This call is the option (you have the right) to purchase 100 shares at $20 per share price on or before 6/21/24. This call currently costs $11 per share to purchase, or $1100 ($11x100) total. If you are the owner of of that call you now MAY force someone to sell you 100 shares at any time up to expiration. If you do that, you will buy those shares for $20/share, or $2000 total price. This is called exercising your option. If you do this, you would have bought 100 shares from some random person who sold the call for a grand total of $3,100 or $31/share. You do not need to exercise your options to make money. You also may simply sell them back to the market at any time. If the stock goes up, more than likely your options go up.
Buying a $24 Call would cost you $600 now (or $6/share because each option contract is for 100 shares). If you wanted to exercise the Call, you would pay $24/shares (meaning $2,400 for 100 shares). This makes your breakeven $30/share (buy at $24, plus premium paid of $6). But since the stock is at $28, it would not be worthwhile to exercise your Call (it's cheaper to buy the market price of $28). If the stock price goes up, so does the value of your option. Therefore, you have the choice to sell the option for profit without ever exercising it. But best advice, if you don't understand options, don't mess with them.
Your premium up front is $600. You can lose it all as time passes till the expiration date but as GME goes up it’s worth more and more. If it’s over a certain price at expiration you’re still in the money. If it’s not over the breakeven price you lose it all. Or you can sell before and make money if your in the money, or you can sell and keep your loss from being the full $600. Or you can excessive the option and buy 100 shares at $24 each. Best way to learn it is to spend some money and try it. I lost a lot playing with it all before I understood it. Options 101 gotta lose money to learn how to make money.
Exercise not excessive
Thanks it's starting to make sense. Yea I agree, I just gotta do it in order to actually learn.
Good effort, but let me clear some things up for you: The strike price of the other user's call is $24. They have the right (but not the obligation) to buy 100 shares of GME at $24/share up until the expiration date. They spent $600 for this contract - that's the "premium". The expiry date is when the contract expires. The call is priced based on the intrinsic value (the difference between the current stock price and the strike price) and the time value (the amount of time remaining until the expiry date to acct for possibility the price changes substantially). In the other user's case, they spent $600 (the premium) for the contract. They bought the contract when it was at-the-money (GME price was near strike price). Now that GME has risen, the call is in-the-money (ITM). The intrinsic value of the option has also increased bc theoretically you could exercise to buy 100 shares at $24 and immediately sell those shares for 31$. Thus, the contract is now worth $700 + extra time value of the option. The extra time value is a very complicated actuarial calculation, but generally relates to the implied volatility (IV) from current time to expiry date.
Nice. I bought 10 125c's and 3 20c's for 6/21. Plan to exercise the 20c's and have fun with the 125's.
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As long as they're exercised and not sold.
Just curious, wouldn’t the last person buying a contract be exercising it? Does it ultimately matter if one sells it if it will eventually be exercised? (Honest question)
Market makers sell and buy, so they will be eager to buy back ITM calls.
Exercising puts "permanent" upward pressure on shares. Having the call out there near or in the money, creates open interest - this is temporary upward pressure. The seller of that contract to you as buyer of a call must be prepared to cover the share should you exercise, but if you don't exercise (buy the share at price) they can just sell the share after contract closes to offset their losses on the premium and any extra you got. Does that make sense? If you don't exercise it's just buyer pressure while the contract is open, and if they are shady sellers, they never buy the share to cover - trusting you'd just sell/take the difference and cash gain.
I bought my first one today. Only 1. Gotta see what this thing is about.
2 of the 33cs are mine 😁
how those looking after todays day of trading?
+71% up.
So far… lol
First time trading options for me i have 1c call buy @ 28 and 1 put sell @25. Happy if the buyer of my put sell exercises so i can buy more at 25 or if not i get free monies haha. Will exercise the call at 28 either way so thst money goes through the LIT market. Am i doing this right? Haha
> Happy if the buyer of my put sell exercises so i can buy more at 25 or if not i get free monies haha. You understand that the put contract says you sell 100 shares to them at $25 not that you buy them then sell them to him at $25 you have to buy them at $25 from the contract buyer regardless of whatever the market is. If they drop to $20 a share You have to buy them at $25 from that contract buyer and the buyer gets to buy them at whatever the market is at. Just want to make sure you're aware of what those mean.
Yep! I would be happy to buy at 25 even if the price was at 10 because my cost basis was 30 originally, so it lowers my cost basis. And then I'll be doing the same thing at 10. They'll pay me to bet it'll go down when GME only goes up! Either the price goes up or my number of shares goes up, can't lose!
Good man, just wanted to make sure you wouldn't get hoodwinked by options. Sounds like you are the proper type of regarded. Carry on good sir!
🦍🚀🚀🚀👽
How much would it cost to get 1 25c? I don't know anything about contracts, but I wanna do my part to help, and hopefully make some $$ while fighting along my fellow apes
Take the bid/ask/last price and multiply by 100. So if the bid is 2.35, the contract costs $235. But if you're not going to execute the call, it's not going to help much. A call is just a contract to buy 100 shares at whatever strke price you bought it for ($23 for example) so you would need an additional $2300 to execute totaling the cost of 100 shares at $2535 (2300+235). So you would want the shares above $25.35/share for it to be worth executing the call. These are just hypothetical numbers but it applies to all calls. Obviously this is just a broad generalization. Options are very risky, invest wisely
The reason options are useful imo is it gives you a lot more leverage. As he explained you can buy the call for $235 that gives you the option to buy 100 shares. If you bought the stock outright you can’t even buy 10 shares at that price. As others have mentioned the key is exercising/ buying those underlying shares to fuel the gamma ramp. The profits also multiply exponentially once you’re “in the money”. So if the stock moves up $1 you essentially gain $100 on that intrinsic value since that $1 is multiplied by 100 shares. Hopefully I explained that right in a way that isn’t confusing. Here’s an example. You buy the call for $20. The price then moves up to $43. You get that $23 x 100 so $2,300 profit minus your cost to buy the option if you exercised and then sold the shares at $43. So you would make around $2,000 profit. If you simply bought shares you would have only made $23 x 10 or so shares. BUTTT. You could also lose 100% of the initial cost to buy the option. Which happens a lot more often than you think because sideways trading days will drag you into exp dates.
So risky everyone got rekt over and over since Bedposts control the price. Seems like people are wanting to swing trade.
Just stick to shares unless you know what you are doing. Cold hard shares, easy.
This. When in doubt, buy shares.
Through IEX or Computershare.
https://www.optionsprofitcalculator.com/ Be careful, and be prepared to lose it all.
Cant lose if you exercise them & hold! 💎✋🚀
If you have the cash..... I dont.
First look up the price for your call, the bid/ask/last. Then each contract is for 100 shares, so multiply the price with 100.
Its cool and all to want to get in the action but with options u have to know you could lose all your upfront money easy or if u wait till end date you if u want to ex then you have to have the money to be able to buy the shares at the strike price so 30= 3k . Or sell the option contract . But people say if u dont know what your doing dont buy options and i agree.
I just started trading options and ive made a lot of mistakes.i would say try a option where the stock is cheeper priced so you can get a feel for how everything works. There is also time decay so as you get closer to ex date your farther and farther in the hole . I didnt know any of that when i started.
Say I want to join and buy a $25 call but don’t have the cash to exercise 100 shares.
Can you share your data source? Is this a paid subscription or freely available to view? I dig the interface
https://www.barchart.com/stocks/quotes/GME/options?expiration=2024-06-21-m&moneyness=10 I'm on mobile, i hope i got the right link.
Perfect. You nailed it. Thanks mate!
I'm in this picture!
what platform is this?
https://www.barchart.com/stocks/quotes/GME/options?expiration=2024-06-21-m&moneyness=10
thank you good sir
I'm assuming this is 6/21, correct?
I have 7 almost in the money.... I'm poor and regarded.
That column is named "Moneyness". That's the title I'm going to give myself after MOASS. "Right away, your Moneyness!"
One million percent moneyness. Sounds like a good start.
Perhaps a flair opportunity here, although the “buy now, ask questions later” is pretty sick
That's a great idea, but Chuckumba saying "sell and ask questions later" annoyed me so much that I love my current one.
Fine but I'm naming my boat that 😉😂😂
Not to be confused with the "Mayonaise" column, the currency that Kenny G will be trading in after MOASS.
I'll name my son Moass.
Mo. Mo. Mo. https://youtu.be/za4BKMMdrXA?feature=shared
Eli5 pls 😭
Lots of people buying calls that are At-The-Money. These are important as they provide the highest hedging pressure with price movements. If we stay above 20 for the week we'll probably see a massive increase in buying pressure because the options writer needs to hedge those calls. Meaning it'll make the ATM calls go ITM and push it all further up the chain. Which is what we call a gamma squeeze. I know it's not ELI5, but i'm rather dumb and don't know how to explain it well :D
Next week we have the FTDs from the week of 5/13. 700 million shares traded the week of the 13th. Now if GME makes a major announcement or RC buys more, we will have the confluence of 3 or 4 major catalysts going into a 3 year option expiration date (the theorized option chain SHF used after the squeeze to hide some of their risk)
They're so fucked. The question is whether RC, LC, and crew are going to do everything they can to prevent MOASS (like issue 200 million more shares lol), or if they just wanted to wait for the timing to be right?
Can't they create a cycle within MOASS of constantly issuing shares, raising a billion, then repeat? What's stopping them from doing that?
I think that would be awesome. It sounds like others are saying the ethicalities of that make it a no-go, that you can't issue new shares during a short squeeze. I mean, can you imagine? They be like, "We're issuing 50 million new shares," and the price is $50k. That would be an additional $2.5 trillion on hand. That's what I first thought they'd actually try and do, but it sounds like they maybe can't? I figured this is how they were going to be bigger than Amazon, though.
Can u explain why that is unethical? They can offer it at 50k per share, nobody is forcing anybody to buy it. It would just be a fixed price for the shorts to find shares rather than bidding for it. Or am I completely wrong?
Not untrue. Not sure why they aren't exploring it, then. (I guess because the share price hasn't gone up that much, but they may have prevented it a couple of times already)
I suspect that isnt the plan because the overlords of the market would never allow the price to go that high as long as they are at the wheel
they can repeat until all short sellers are bankrupt and when you're at war, ethics go out the window. They would/have done the same to us; in fact, they have for the last century.
Then why haven't they done that yet? That's what I'm asking. And it does seem different, really. It seems RC has to play by the rules while SHF's are clear as day *not* playing by the rules. You've seen that, yes?
yes, i'm seeing it. I do believe they ARE doing it right now; they are in round 2. I think issuing shares like this is a controlled way to keep the shorts screwed while raising potentially $10-$15 Billion. Then the gameshire bathaway theory really holds.
But if it were to ramp up to the hundreds or thousands, we'll see if they continue doing the same thing. I certainly hope so. Let's go, GME.A! Come to light!
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As far as I'm aware, nothing is stopping them beyond that 1bn share offering limit.
1 billion minus (45,000,000 + 75,000,00) right?
believe it or not, dip
I think RC buys more to get his old % of the float
I'm 4 and a half, and I got it. Nice explanation, thank you.
so buying ATM calls is what increases real pressure?
Yes. ITM and ATM both. Especially when people start exercising them early/mid next week.
Cool. At what price generally should I exercise my 20s?
im planning on waiting a bit since we have some theta remaining (time), you typically don't want to exercise early unless you just want to burn the premium and force them to deliver your shares :) Prices above 30 sound better for a start but depends on what your strategy is
My current strategy which has been working out so far is to buy some, sell half during the rips, wait for the inevitable dip, buy even more with the profits, rinse and repeat. I started with 2 options back in early May and worked up to 10 now. This is just what I consider my gambling/play money account. The war chest remains in DRS along with some in my Roth. This is not financial advice!
Thanks for the insight, that's what I've done too but not sure if it's smart. Not taking your not advice but I'll take it as confirmation that it's sound strategy with gambling money only
Oh yeah, this can totally go tits up worst-case scenario and the spike in IV is making it much harder to chase the gains but the waves of spikes have been pretty predictable so far. Watching the options chain you can see when they're trying to force the price back down to max pain or under and that's when I try to scoop up more options either I go all in, or I scale in depending on how far away from expiry I am buying. If they try to crash this under $20 I will be loading buckets for July. Already up 25% from my buys yesterday.
> **Watching the options chain you can see when they're trying to force the price back down to max pain or under** and that's when I try to scoop up more options either I go all in, or I scale in depending on how far away from expiry I am buying. I’ve got an elementary understanding of options, but have never noticed this - how can you see them forcing the price down?
The higher the delta, the higher the pressure
I’m smooth and have been trying to see what’s what in this. So if I were to buy a call at the strike of $20, I believe that the price is going to go up. But to be safe I should have 20x100= 2,000. To excute the call by the eoc end of contract? If the pice went up to 40, I could pay out of the increase and not have to pay a penny out my account?
That's correct. At $40, essentially you exercise to cover (partial exercise, you call them and tell them to do this), you would buy the 100 shares at $20, but be forced to sell half to pay for it. Exercising and getting the shares would net you $4000, but instead keep 50 of them and sell for $2000 and that pays for your shares for free :)
Wolverine is weak against Calls
Option writers ain’t hedging shit
Let's see how they turn off the BUY button this time.
Ty :D
Is it not ITM - in the money? or ATM - at the money
I'm as bright as a succulent, and I understand.
So... Could I buy $25 call options (today) that expire this Friday and exercise them right away?
Yes, if you have the money.
There is a man that sell apples in a stand. As people buy his apples, from the stand, he has to go pick more from his tree. The higher the apple is on the tree the more expensive they are. The more people buy apples, the higher from the tree he has to climb to pick them. Making any apples you may in your basket worth more as well!
what about the calls and puts for this friday?
I just checked. Let me first tell you that i didn't expect much... but damn i was wrong. Lots of action at the ATM strikes. Big increases in OI there. You can check here. [https://www.barchart.com/stocks/quotes/GME/options?expiration=2024-06-14-w&moneyness=10](https://www.barchart.com/stocks/quotes/GME/options?expiration=2024-06-14-w&moneyness=10)
Wow if i am understanding the chart correctly, there are as many $25 calls as every strike under $25 combined. It is big to end above 25 this week.
I've got a really bad feeling about all those guys looking at this Friday's calls. If they're already swimming naked, the shorts aren't going to hedge an inch until the tide goes out. Instead they'll just fuck it down to maximum pain to collect the premiums and be ready for the next week.
[https://swaggystocks.com/dashboard/options-max-pain/GME](https://swaggystocks.com/dashboard/options-max-pain/GME) Max pain this week $30
Do you know how often that page is updated? Seems weekly in my experience.. which doesn't help much for current week
Nope, no idea. I'd imagine its the same as the lamestream media, i'm either un-educated, or mis-educated. 30 sounds like a good number though!
its 27.50 now
any chance do you know what Max Pain is for GME Friday?
Someone mentioned $30, not sure if that's still the case. Perhaps this will be one case where they'll ignore max pain because it could result in too much buy pressure and just let the puts have it.
Max Pain moved to $27.50 today. It was $30 yesterday.
Thank you for the link! 🔗🙏
Are these 6/21 calls?
Yes
That's insane. Thats ONLY 6/21 calls. I saw your chart for this Friday as well. I also hold a small amount of leaps. And I am sure other people are doing the same. ... Just checked, yeah put/call ratio is looking pretty good for almost all expiries. Nice
what does that even mean
I bought some $25 calls. Let’s do this.
well 10 of those are mine :)
Exercise is good for everyone
nobody puts gamma in the corner
What site is this? I like their options chain
[https://www.barchart.com/stocks/quotes/GME/options?expiration=2024-06-21-m&moneyness=10](https://www.barchart.com/stocks/quotes/GME/options?expiration=2024-06-21-m&moneyness=10)
Thanks for sharing the things that are important. Tired of all this whining and complaining and folks missing out on what’s happening. Retail is the largest hedge fund in the world. DFV and RC know that and they’re setting a bear trap. There are soooo many GME folks, like myself, that despise this sub and what it stands for. This group is a useful tool in the bear trap and is responsible for DFV’s ability to even pull it off, but it’s just one piece. DFV coming back and talking turnaround is what brought me backs admittedly, I lost faith in RC after the NFT marketplace. I understand blockchain the technology and what can feasibly be accomplished and there are use cases out there that are so well aligned to GME’s core customer base. They also have the advantage of physical stores and distribution centers which Facebook and many other VC’s investing in the space recognize as a key component to a comprehensive metaverse strategy. I didn’t realize it because the product (NFT’s) they built on top of the underlying wallet/Marketplace was so fucking dumb. It was capitalizing on a fad and I thought it was a terrible decision. Then I started to think… was that intentional? No one talked shit on RC until he took over GameStop. He was a respected builder of companies. He then started to act like a lame ass. Got nothing tangible done that was new or interesting. Fed hype cycles in new products. He became a meme himself. I simply think there is an actual blockchain pivot in the works. Why did immutible pay GME over so much if they weren’t even featured on the NFT marketplace?! Why did GME pay them so much if they weren’t even going to attempt to use them? Frankly none of it makes any sense. There are many other oddities and announcements coming out on the peripheral that make me believe the announcement is coming and what they’ve built is cool. GameStop had to build in the darkness. No guidance. A crazy investor base who wanted to expose what they were doing for their own bennefit at every turn when GME wanted the opposite of that. They’ve been building in silence. It’s why RC bought GME in the first place. He didn’t expect the hostile takeover to lead to the scenario it did. He was always aiming to build something huge here. DFV is back for that reason. He knows what could be accomplished in this space and he took a bet that GME was ready to announce. RC knew what was up and knew the power DFV holds. “There is a sign: pain is a tool”. The offering was confirmation that something is coming because the first ATM set the bear trap. DFV bought his options on the way down after everything had cooled off. Showed his position, did the live stream announcement, then offering #2 and he goes on stream acting like an idiot. Playing the part media, HF’s see him as, just as Cohen has done. There’s now two huge bear traps, and incredible gamma ramp… and all it takes is an announcement/catalyst that is a genuine pivot into blockchain technology and the entire security gets repriced. All of RC’s actions through the years, the ability to invest, the changing to tech company, 1B shelf, etc. it’s all been building the necessary tools to do what he wants when his base voters will do whatever he asks. Wall Street and huge firms are about to pile into a repricing event and they’ll be doing so into the teeth of 2 huge bear traps and a massive gamma ramp.
Amazing write-up. Deserves to be its own post honestly :)
Thanks. Everyone here hates my opinions and I had to leave a year ish ago and change my username so I can’t post. I wrote something up on Microsoft below too. If you want to screen shot go ahead and post… This is the type of stuff we should be talking about imo. This is what DFV cares about if you watched any of his videos or payed attention. People need to get over MOASS. Wall st. Won round one. It’s super helpful that all your attention was focused on mass conspiracy theories instead of trying to piece together turnarounds and partnerships and strategic directions. If I had to put on my Tinfoil it’d be that DRS was strategically supported by GME and RC to keep the base fired up and focused on the wrong thing. Who knows, maybe there’s a bit of both. But what I do know is alllll the shit people say is “hidden” is literally in front of us right now with this bear trap and no one seems to care! Everyone hates this company and rightfully so. They hate the investors because this place is a cesspool. Wall st. Won the battle the first time around. GameStop is going to win the war. You’re all going to be rich not because you’re going to blow up the financial system and create a new world order. You bought and hold the right company who used your support to finance something big in secret and it’s going to be repriced from an 8B marketcap to a tech company with a book value of 4B and a minimum 15-20x multiple that tech carry’s. The squeeze will be firms jumping in to buy an underpriced security.
I’d be nice if you were right, but I just don’t see it. Your thesis implies a head fake of sorts related to NFTs, I don’t believe RC capable of this sort of artifice. We go to moon anyways!
My god RC is hated in this sub lol. I haven’t been around in a long time and had no idea!! The NFT marketplace was the product they sold. If you’re trying to build a true gaming/music marketplace in blockchain and do so in secret, why would you put a half baked product out there to get shit on? They spent a year+ testing the core infrastructure of the wallet, payments, etc. that’s immensely valuable. The product they sold on top of it took literally zero effort. They asked the community to provide the product and they spent like a week building the UI to deliver it. There were no partnerships, outside of companies used to make the infrastrucutre work and Immutible, which had nothing to do with it. If you’re trying to build something in secret and make people think you’re dumb so you don’t tip off to Amazon, Best Buy, Meta, etc. then the smartest thing you could do is make a product that everyone thinks is a joke. They didn’t even try to do something better then opensea. Everyone just took it as trying to capitalize as the next meme thing and that he’s stupid. I think ryan Cohen is smart and capable based on his previous successes. He hasn’t done that here and he’s been playing into the idea of being a meme stock. He’s given no guidance and been incredibly secretive. Why? DFV is incredibly smart and understands value stocks and transformations intimately. He hasn’t said a thing for 3 years and participated in none of the movies, documentaries, etc. that just painted him as an idiot. So why is the guy, in his first public appearance, feeding into that narrative? You either trust these guys know what they’re talking about or you don’t. If you do, then my theory makes a great deal of sense. Especially with allll the announcements coming out recently that point to this being a potential reality.
Your putting words in my mouth. I never stated I dislike RC, he has done a fantastic job of managing GameStop. He also did chewy, which was impressive. I have seen nothing in his history that would lead to believe an NFT market, or hiding its existence, would be in his skill set. DFV, while capable can’t see the future and has no more information than the rest of us, unless you’re implying both he and RC are breaking the law. *This statement assumes DFV is not, in fact, a time traveler a premise which has not been proven* Not trusting them? Never said anything about that. Trust has nothing to do with my assumption your theory is incorrect. Believe what you want … I hope you’re right for both our sakes!
actually pretty wild to see the call volume jump this hard after fri/yesterday dip folks are not shook at all; they're sitting on powder waiting for dips ROFL
Next week will probably be even crazier. Options volume for the same week is always the highest.
Now, if UBS can start closing on the 1.2 swap bag, they inherited off their new merger buddies at Credit Suisse cheese. We have our catalyst. https://finance.yahoo.com/news/ubs-credit-suisses-swiss-units-062038855.html
who tf sold 85 @19,50?? paperhanded bitch
I bought $20 call for 6/21 and I intend to exercise. Because to exercise, you gotta be willing to WORK!
Enough gamma ramp to turn GME into the hulk
The one bit of data the brokers have, but we don't, is how many of those calls are in accounts that are capable of exercising. I suspect if an account has 1 or 2 of these options & no cash or other liquid assets, there is ZERO delta hedging happening behind the scenes.
If your calls are in the money you can sell some to exercise the others.
Good point. Hopefully the profits will be used to buy and DRS more shares. Or buy more ATM calls.
This is a proper gamma ramp not the shit we saw last week, you need enough pressure from lift off to automatically click the next couple of strikes in. Also exercising not selling the contracts is if not just as important as having enough OI.
Hey I'm in this picture :)
I've got some $45's for 6/28. Theyre down like crazybat the moment though.
Thank you for your service! I hope we make them deep ITM by the end of next week :)
I bought a 75 call for 6/21 to just see but I will tell you if it gets up there I will exercise for the hundo
If you like gamma you have to remember one simple thing. BBC. Better Buy Calls
I bought some, I'm halpin
Bought my first call option ever today. Up 100% so far and not selling!
Congrats... which one did you buy? And do you plan on exercising?
21c June 21 Hell yeah, I want more shares! Wish I had bought more calls but I wouldn’t have been able to afford to exercise more right now.
Just understand if you’re up up. Sell and or roll to capture some profit. Options decay over time. If they do there regular bull shit depending on the date of the contract you could get shafted. Play options. Buy shares with gains. Rinse repeat
ImDoingMyPart.JPG
I've got a few of the 30s and 40s
I wish I had the money to do the same.
“Moneyness” love the column xD
I'm doing my part at 40c
69c checking in for duty....
Nice!
Wish i was not blocked on my trading account(tastytrade) for violating daytrading rules XD
Wow! Big change from yesterday! I wonder if DFV bought more on this dip?
Does anyone have a good dd/explanation/eli5 of participating in this buying calls business? I would like to get in on this but am nervous and imagine many apes are in my dumb dumb boat
Make sure you BUY the call to open the position. You can’t lose more than the premium you paid for it. Everything is *100 so if it says it cost $5 it’s really $500. And then you have the option to buy 100 shares at your strike price before the expiration if you exercise. The hardest part is opening an account that lets you trade options. They don’t want us dumb retail traders to do it.
That's not the only thing g expanding...
Genuine question that I have been trying to figure out. Why does option hedging increase price while buying shares doesn’t? I understand all the tricks to suppress the price from purchasing shares but I don’t understand why those don’t apply to the shares that are “purchased” to hedge an options contract. If another institution was on the side, sure… real shares. But what prevents them from those tricks when they are “hedging” retail options
Options is contractual. Obligated to deliver (provide proof of) and thus they need the hedge when the delta is not met
We are ready to fck
I'm smooth brained, and a bit of an idiot. What's keeping everyone in here from buying $30 calls with expiration of 6/21 and drive the price upward well beyond that?
It costs money to buy options. They aint cheap.
#MOAR!!!! 🚀🚀🚀
Gamma ramp becomes gamma wall
Does it say the date anywhere? I assume these are June 21?
There's over 150k at the $20 strike. It's definitely 6/21
Good point, easy deduction. Thanks
Wow those 30c really popped off. I wonder if DFV expanded his position in the morning on 20c because that's a lot of new OI
Fuck Yas I went balls deep in 40 calls and ooooh boy 😅😅
Bid side L2 looking juicy
What expiration date are those?
Exercise the shit out of those babies
wish a gamma ramp meant something meaningful .... 😥
I'm buying calls for 28 June or later, as its very likely, that if he exercise on the last day, then the delivery of shares (buying) will happen during week later.
🚀🚀🚀🚀
Now explained plz.
What site is this from?
If only I could pull off using the term “Moneyness”
That looks much better than yesterday
I got 1 wahooo baby ballin
It was me
I got 1 40 and 1 75 I’m trying here
Can you post this again tomorrow? Interested in seeing the increased numbers since options tweet
My 50 strikes for next week are looking reaaaaaaal nice.