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What do you have? I'm looking for a new dining room table. 

2021 is providing a fair amount of internet comedy. 

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  • 2 weeks later...
On 1/22/2021 at 4:55 PM, Make Angels Great Again said:

A dude on reddit paid 50k for options on gamestop that are now valued at 11 million.

And he's still holding...

After @AngelsLakersFan put it in the hotstove thread.  Took a look at it.  

Maybe @mrwicked can help me see what I'm missing or not.

So Gamestop has a market value due to the spike of over $10 billion.  But it's asset - liability is at $1.7 billion.  I think it has around 68 million shares active.  So that's about $25 a share.  Looking at some sites, they list the fair value at $43.  

Looking at the Puts.  Looks like a lot of action all through Feb.  Then March 5, it takes a steep drop in volume.  Then March 19, the volume gets huge.  April 16, it continues a high volume.  Especially at the 0.50 to 1 area.  July, still high volume at the low amounts.  Then november, it dies down.  

So is this something you would long term short?  I'm looking at the January 21, 2022 shorts.  If you go the $45 short, it's at $22.50.  If you go the $100 short, it's at $62.45.  

What do you guys think about this craziness?  Is there money to be made?

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8 minutes ago, gotbeer said:

After @AngelsLakersFan put it in the hotstove thread.  Took a look at it.  

Maybe @mrwicked can help me see what I'm missing or not.

So Gamestop has a market value due to the spike of over $10 billion.  But it's asset - liability is at $1.7 billion.  I think it has around 68 million shares active.  So that's about $25 a share.  Looking at some sites, they list the fair value at $43.  

Looking at the Puts.  Looks like a lot of action all through Feb.  Then March 5, it takes a steep drop in volume.  Then March 19, the volume gets huge.  April 16, it continues a high volume.  Especially at the 0.50 to 1 area.  July, still high volume at the low amounts.  Then november, it dies down.  

So is this something you would long term short?  I'm looking at the January 21, 2022 shorts.  If you go the $45 short, it's at $22.50.  If you go the $100 short, it's at $62.45.  

What do you guys think about this craziness?  Is there money to be made?

I'm no expert but it's all the people shorting that created the issue in the first place. Eventually it has to crash, but no reason the cycle couldn't start back up again after.

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12 minutes ago, happybat4 said:

AMC is next. I tried to buy several stocks this morning but something went wrong with Fidelity. It was at 5 this morning. I bought one stock at 16.

Lol I tried to get in several days back at $3.50 but it was blocked because the price had jumped too high. Once it started to take off I didn't want any part of it, but damn I probably still could've got in under $5.

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I'm wondering now if we are seeing the beginning of the newest financial crisis?  Good thing is, it's going to be a bunch of hedge funds that lose everything so hopefully no bailout.  But it sure does seem like someone figured out how to really screw with, while getting rich, these option traders.

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37 minutes ago, Tank said:

Can someone summarize in laymen’s terms what happened today?

Some funds on Wall Street had been betting against game stop by shorting the stock. Users of a Reddit sub forum didn’t like that and started investing in it helping drive the stock up as high as 1,200% in the last few weeks. Also helped when Elon Musk tweeted his support for game stop and other social media brought more investors in. The funds shorting it got crushed with one of them needing almost 3B to stay open. The small guys turned the table on large investors and screwed them for a change. 

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25 minutes ago, Catwhoshatinthehat said:

Some funds on Wall Street had been betting against game stop by shorting the stock. Users of a Reddit sub forum didn’t like that and started investing in it helping drive the stock up as high as 1,200% in the last few weeks. Also helped when Elon Musk tweeted his support for game stop and other social media brought more investors in. The funds shorting it got crushed with one of them needing almost 3B to stay open. The small guys turned the table on large investors and screwed them for a change. 

And to add to that.  From what I heard.  They were shorting the stock in such a high number that if all the shorts were executed, it would have been 125% of the total available stock.  

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21 minutes ago, gotbeer said:

And to add to that.  From what I heard.  They were shorting the stock in such a high number that if all the shorts were executed, it would have been 125% of the total available stock.  

I wouldn’t doubt it. The funds that get crushed and make the news for the wrong reasons tend to be over levered. The ones that end up as case studies are levered to the point they can’t cover the positions. 

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5 hours ago, Catwhoshatinthehat said:

Some funds on Wall Street had been betting against game stop by shorting the stock. Users of a Reddit sub forum didn’t like that and started investing in it helping drive the stock up as high as 1,200% in the last few weeks. Also helped when Elon Musk tweeted his support for game stop and other social media brought more investors in. The funds shorting it got crushed with one of them needing almost 3B to stay open. The small guys turned the table on large investors and screwed them for a change. 

An Oral History Of Trading Places - Business Insider6

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