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  • GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month

    From cnbc.com

    The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this year, but they are not budging. Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer, including a nearly $8 billion loss on Friday as the stock kept ripping higher, according to data from S3 Partners. Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock. GameStop shares that have been borrowed and sold short have declined by just about 5 ... (full story)

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  • Comment #1
  • Quote
  • Jan 29, 2021 2:15pm Jan 29, 2021 2:15pm
  •  afevir
  • Joined Feb 2019 | Status: Member | 1224 Comments
as if GameStop were to blame for all ills, it's just the tip of the iceberg
with which the Titanic struck
Confucius: the man who broke the mountain was the same man who started ...
 
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  • Mingary
  • Comment #3
  • Quote
  • Jan 30, 2021 3:42am Jan 30, 2021 3:42am
  •  aquavox
  • | Joined Nov 2012 | Status: Member | 527 Comments
ha.ha...ha.ha
The SEC is to "pursue potential wrongdoing"
"Extreme stock price volatility has the potential to expose investors to rapid and severe losses and undermine market confidence,” the commission said..."

welcome to the real world Wall Street thugs/ banksters, /Hedgies, and "big"money. (the real world you actually created btw)
this was a good win for the little guys - suck it up.
Old Dog Kiwi
 
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  • Comment #4
  • Quote
  • Jan 30, 2021 4:37am Jan 30, 2021 4:37am
  •  afevir
  • Joined Feb 2019 | Status: Member | 1224 Comments
Be careful with the idea that they have lost and would have to give up, it can be a trap,
this year's best planned trap
Confucius: the man who broke the mountain was the same man who started ...
 
 
  • Comment #5
  • Quote
  • Jan 30, 2021 5:16am Jan 30, 2021 5:16am
  •  aquavox
  • | Joined Nov 2012 | Status: Member | 527 Comments
aahh yes , but the trick is to get out of the trade when you have made your money , is it not?
no need to dally in the "trap" - why would an astute trader even consider hanging around ?
although the big guys appear to have caught themselves for once.
Old Dog Kiwi
 
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  • here2there
  • Comment #7
  • Quote
  • Jan 30, 2021 7:39am Jan 30, 2021 7:39am
  •  afevir
  • Joined Feb 2019 | Status: Member | 1224 Comments
Quoting aquavox
Disliked
aahh yes , but the trick is to get out of the trade when you have made your money , is it not? no need to dally in the "trap" - why would an astute trader even consider hanging around ? although the big guys appear to have caught themselves for once.
Ignored
yes, that's the demolishing trick
Confucius: the man who broke the mountain was the same man who started ...
 
 
  • Comment #8
  • Quote
  • Jan 30, 2021 8:43am Jan 30, 2021 8:43am
  •  LloydOz
  • | Membership Revoked | Joined Oct 2019 | 571 Comments
Quoting aquavox
Disliked
aahh yes , but the trick is to get out of the trade when you have made your money , is it not? no need to dally in the "trap" - why would an astute trader even consider hanging around ? although the big guys appear to have caught themselves for once.
Ignored
Dude, I suspect you miss their point. Forget thinking like an accountant for a moment. Edit - oh, oops, I recant - I just saw post #3. I've some trouble reconciling what seem to be opposites, though.
 
 
  • Comment #9
  • Quote
  • Jan 30, 2021 10:16am Jan 30, 2021 10:16am
  •  harcos
  • | Joined Mar 2020 | Status: Member | 482 Comments
The company is still fundamentally failing and these hedge funds have deep deep pockets and they are averaging out their positions as the prices hit these wild highs. Look at the action going on in the options. They love this volatility, you think they care that a couple of their short positions run against them. The media likes to pump a good underdog story because it sells but the savy wolves of wall street always have their way with underdogs. Think about it really when GME hit $483 on Thursday and closed at $194 ish. How many retail traders who bought near the highs were devastated? That was one of the main reason Robinhood wanted to halt trading. If a few traders go bankrupt chasing the odd stock that's easy for Robinhood to write off but if thousands and thousands get thoroughly upside down and are not able to cover their margin calls that wouldn't be an easy pill for RH to swallow.
 
3
  • Comment #10
  • Quote
  • Jan 30, 2021 11:17am Jan 30, 2021 11:17am
  •  afevir
  • Joined Feb 2019 | Status: Member | 1224 Comments
Quoting harcos
Disliked
The company is still fundamentally failing and these hedge funds have deep deep pockets and they are averaging out their positions as the prices hit these wild highs. Look at the action going on in the options. They love this volatility, you think they care that a couple of their short positions run against them. The media likes to pump a good underdog story because it sells but the savy wolves of wall street always have their way with underdogs. Think about it really when GME hit $483 on Thursday and closed at $194 ish. How many retail traders...
Ignored
bitcoin is so too
Confucius: the man who broke the mountain was the same man who started ...
 
 
  • Comment #11
  • Quote
  • Jan 30, 2021 5:09pm Jan 30, 2021 5:09pm
  •  Guest
  • | IP XX.XXX.149.21
[quote=harcos;13386188]The company is still fundamentally failing and these hedge funds have deep deep pockets and they are averaging out their positions as the prices hit these wild highs. Look at the action going on in the options. They love this volatility, you think they care that a couple of their short positions run against them. The media likes to pump a good underdog story because it sells but the savy wolves of wall street always have their way with underdogs. Think about it really when GME hit $483 on Thursday and closed at $194 ish. How many retail traders...[/quote

Maybe I'm missing something, but why in the world would anyone buy GME stock on margin, particularly when GME was over $400 per share?
 
 
  • Comment #12
  • Quote
  • Jan 30, 2021 6:28pm Jan 30, 2021 6:28pm
  •  tylerbose
  • Joined Oct 2011 | Status: don't trade like i do | 79 Comments
Glorious
i lose money for a living
 
 
  • Comment #13
  • Quote
  • Jan 30, 2021 10:20pm Jan 30, 2021 10:20pm
  •  digit1288
  • | Joined Sep 2016 | Status: Member | 278 Comments
The higher GME goes, the more money the hedge fund will eventually make.

When GME was 40 dollars, Melvin Capital stood to make $40/share had it gone to zero

When the price shot to > 400 dollars, whichever new hedge fund shorted it, now stand to make $400/Share, 10X more than previous.

These GME guys who are holding onto dear life will lose eventually, unless they plan to hold onto the shares forever. If they don't sell, they will never realise their profits.

GME is a business from the same bygone days as 'Blockbusters'. That model is dead and so is the business.

The ones still left holding need to accept they have beaten the Big boys at their own game, take whatever profits they have left and come back to fight another day.
 
 
  • Comment #14
  • Quote
  • Jan 31, 2021 1:58am Jan 31, 2021 1:58am
  •  Geriliel
  • | Joined Apr 2019 | Status: Geriliel | 32 Comments
Quoting Guest
Disliked
Quoting harcos
Disliked
The company is still fundamentally failing and these hedge funds have deep deep pockets and they are averaging out their positions as the prices hit these wild highs. Look at the action going on in the options. They love this volatility, you think they care that a couple of their short positions run against them. The media likes to pump a good underdog story because it sells but the savy wolves of wall street always have their way with underdogs. Think about it really when GME hit $483 on Thursday and closed at $194 ish. How
Ignored
...
Ignored
...[/quote]
YOLO, and greed
 
 
  • Comment #15
  • Quote
  • Jan 31, 2021 3:19am Jan 31, 2021 3:19am
  •  aquavox
  • | Joined Nov 2012 | Status: Member | 527 Comments
Quoting LloydOz
Disliked
{quote} Dude, I suspect you miss their point. Forget thinking like an accountant for a moment. Edit - oh, oops, I recant - I just saw post #3. I've some trouble reconciling what seem to be opposites, though.
Ignored
Yes , sorry my career since the early 70’s has been in IT , but became a Chartered Accountant along the way , and got to do some very interesting forensic accounting for OECD governments.
The trouble with bean counting and the SEC is that it is always after the event ,backward looking , but the real Fun stuff is looking into the future , and the dark places where big money doesn’t want you to look.
Old Dog Kiwi
 
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  • OutThere
  • Comment #17
  • Quote
  • Jan 31, 2021 8:27am Jan 31, 2021 8:27am
  •  digit1288
  • | Joined Sep 2016 | Status: Member | 278 Comments
GME is a Turd.

Is it a $40 turd or is it a $400 turd? Don't care...point is, it's still a turd

These guys planning to hold GME 'Forever' need to speak to Blockbuster stock holders. They might be able to show them their old share certificates they've kept.
 
 
  • Comment #18
  • Quote
  • Jan 31, 2021 8:39am Jan 31, 2021 8:39am
  •  OutThere
  • Joined Aug 2018 | Status: Member | 910 Comments
Quoting digit1288
Disliked
GME is a Turd. Is it a $40 turd or is it a $400 turd? Don't care...point is, it's still a turd These guys planning to hold GME 'Forever' need to speak to Blockbuster stock holders. They might be able to show them their old share certificates they've kept.
Ignored
I tried to find a "blockbusters video" share certificate for sale on google but nothing comes up.
 
 
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  • Mingary
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  • RossEdwards
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  • Mingary
  • Comment #23
  • Quote
  • Jan 31, 2021 2:19pm Jan 31, 2021 2:19pm
  •  Ross88
  • Joined Aug 2015 | Status: (ง'̀-'́)ง | 259 Comments
Quoting OutThere
Hidden

He was not using the word autistic as a insult the Reddit guys call themselves autistic and say they're using weaponized autism when they act in a group it sounds bizarre I don't really understand it myself but that's how they refer to themselves. Justin Bieber calls his fans Beliebers and his fans also refer to themselves as Beliebers kids these days are odd growing up with the internet

The Reddit guys used Isis propaganda videos so work out where there bases were and gave the information to the American military who bombed the Islamic state training centres those Reddit guys are a very odd bunch of people but remarkably effective when they work as a group something they referred to as weaponized autism

There's a lot of bickering back-and-forth guys let's try not to make it personal
 
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  • Comment #24
  • Quote
  • Jan 31, 2021 2:33pm Jan 31, 2021 2:33pm
  •  LloydOz
  • | Membership Revoked | Joined Oct 2019 | 571 Comments
Quoting Ross88
Disliked
{quote} He was not using the word autistic as a insult the Reddit guys call themselves autistic and say they're using weaponized autism when they act in a group it sounds bizarre I don't really understand it myself but that's how they refer to themselves. Justin Bieber calls his fans Beliebers and his fans also refer to themselves as Beliebers kids these days are odd growing up with the internet The Reddit guys used Isis propaganda videos so work out where there bases were and gave the information to the American military who bombed the Islamic...
Ignored
Quite so. Anyone commenting on the forum on topic would understand a variety of not so subtle nuances that you so eloquently point out. There is a whole lot more that could not be printed on these puritan pages. Whether anyone agrees with them is irrelevant. edit disclaimer - I always enjoy the irreverence of South Park. Some people prefer the Brady Bunch.
 
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  • OutThere
  • Comment #26
  • Quote
  • Jan 31, 2021 2:44pm Jan 31, 2021 2:44pm
  •  LloydOz
  • | Membership Revoked | Joined Oct 2019 | 571 Comments
Quoting OutThere
Hidden
So, autism is a disability then.
 
 
  • Comment #27
  • Quote
  • Jan 31, 2021 2:45pm Jan 31, 2021 2:45pm
  •  OutThere
  • Joined Aug 2018 | Status: Member | 910 Comments
Quoting LloydOz
Disliked
{quote} So, autism is a disability then.
Ignored
Autism spectrum disorder (ASD) is a developmental disability that can cause significant social, communication and behavioral challenges.
 
 
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  • Mingary
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  • OutThere
  • Comment #30
  • Quote
  • Jan 31, 2021 3:56pm Jan 31, 2021 3:56pm
  •  Ross88
  • Joined Aug 2015 | Status: (ง'̀-'́)ง | 259 Comments
Quoting OutThere
Hidden
You're definitely looking for offence so you can take the moral high ground you've just had it explained to you they call themselves autistic it's how they refer to their group
 
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  • OutThere
  • Comment #32
  • Quote
  • Jan 31, 2021 4:18pm Jan 31, 2021 4:18pm
  •  Ross88
  • Joined Aug 2015 | Status: (ง'̀-'́)ง | 259 Comments
Quoting OutThere
Hidden
Literally no one has used the word as a insult if they had I would completely agree with you. A word can have two meanings and the Reddit guys hijacks the word to be fair to them they actually have helped the US military destroy Islamic state basis which is still the most bizarre thing that's ever happened because of the internet

Anyway I don't want to argue with you I'm sure you're not a bad person but you do appear to be arguing in bad faith
 
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  • OutThere
  • Comment #34
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  • Jan 31, 2021 8:43pm Jan 31, 2021 8:43pm
  •  Guest
  • | IP XX.XXX.149.21
Quoting digit1288
Disliked
The higher GME goes, the more money the hedge fund will eventually make. When GME was 40 dollars, Melvin Capital stood to make $40/share had it gone to zero When the price shot to > 400 dollars, whichever new hedge fund shorted it, now stand to make $400/Share, 10X more than previous. These GME guys who are holding onto dear life will lose eventually, unless they plan to hold onto the shares forever. If they don't sell, they will never realise their profits. GME is a business from the same bygone days as 'Blockbusters'. That model is dead and...
Ignored
I saw an interview of one of the GME guys Friday afternoon after the market was closed. He said he had a $30 an hour job and he showed a screen shot of his Robinhood account with a balance of over $1 million made on GME. For the life of me, I cannot understand why he didn't close out his position before the market closed Friday. I couldn't help but notice that there were over 7000 open call option position at the $320 strike price with a January 29th expiration date. GME in the middle of the afternoon Friday was down below $300 p/share in the early afternoon Friday and then the price ran up to $325 per share by market close saving these 7,000 open open positions from expiring worthless. Any real incentive to run the GME price up tomorrow is now gone. I hope this GME guy with the $1 million account can get out tomorrow with most of his $1 million account in tact. I see GME price crashing beginning tomorrow and before the week is out GME will be back to a more normal share price of around $30 - $40 IMHO.
 
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  • Comment #35
  • Quote
  • Edited 4:44am Feb 1, 2021 1:40am | Edited 4:44am
  •  Mingary
  • Joined Mar 2011 | Status: I should be on your ignore list | 2344 Comments
Glad to see that the Coc has been correctly applied this time..
Ross88 is 100% correct.
The hostility and bad faith in some of the replies is a bit disturbung IMO

On a lighter side, this is epic:

Inserted Video
 
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  • Comment #36
  • Quote
  • Feb 1, 2021 2:58am Feb 1, 2021 2:58am
  •  LloydOz
  • | Membership Revoked | Joined Oct 2019 | 571 Comments
Quoting Mingary
Disliked
Epic .... https://www.youtube.com/watch?v=rejpDqQUcV0
Ignored
And that reminded me of the poem Passage to India by Walt Whitman, one that may resonate for the Reddit dudes in the circumstances. Just a *tiny* bit of a copy/paste -

“Sail Forth- Steer for the deep waters only. Reckless O soul, exploring. I with thee and thou with me. For we are bound where mariner has not yet dared go. And we will risk the ship, ourselves, and all.”
 
1
  • Comment #37
  • Quote
  • Feb 1, 2021 4:25am Feb 1, 2021 4:25am
  •  RossEdwards
  • Joined Jun 2019 | Status: Member | 3299 Comments
The Stock Market IS BROKEN.... TOTALLY.
Wolf Blitzer .. in best analysis of the complete scam its turned into.
Not recommended listening... ESSENTIAL LISTENING.

Inserted Video
Warning: A Dangerous Subversive: 1% of comments CoCed
 
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  • Comment #38
  • Quote
  • Feb 1, 2021 4:42am Feb 1, 2021 4:42am
  •  fxsport
  • Joined Jul 2007 | Status: Member | 2661 Comments
Quoting Ross88
Disliked
{quote} You're definitely looking for offence so you can take the moral high ground you've just had it explained to you they call themselves autistic it's how they refer to their group
Ignored
Don’t mind OutThere - That poster is so Full of hated of anything and anyone that is not politically correct, that they can’t understand English in the context that it has been used here. EVERYONE with common sense understands the usage and context here - EXCEPT Out There!

No one on this thread, except out there, has displayed their ignorance of the word autism as it relates to the Reddit boys. Please tell everyone WHY we must change Our comprehension and understanding of the English language as a relates to this case when it is you who do not understand context?

Maybe that’s why people hate political correctness because of people like you forcing everyone else to conform to your silly and ridiculous rules/PC

I suggest out there find professional therapy to overcome his/her hatred of anything orange.
...because you never know - until you do!
 
1
  • Comment #39
  • Quote
  • Feb 1, 2021 4:58am Feb 1, 2021 4:58am
  •  OutThere
  • Joined Aug 2018 | Status: Member | 910 Comments
Quoting fxsport
Disliked
{quote} Don’t mind OutThere - That poster is so Field of heat anything that is not politically correct, that they can’t understand English in the context. No one on this thread, except out there, has displayed their ignorance of the word autism as it relates to the Reddit boys. I suggest out there find professional therapy to overcome his/her hatred of anything orange
Ignored
Hey dumb dumb

I have a friend with autism.
He is fascinated by the first generation of Nintendo games. He plays them on his computer and takes screenshots and posts them on an art site because he thinks it is art. Last year he received a good camera for his Bday. He spend everyday photographing the sunset. He did it anywhere he could. From his bedroom, beach, walks, mountain tops etc. That became his passion. He has no idea about the stock market and he does not posses a mean or greedy bone in him. He would never collude with anyone to disenfranchise the norms of the society and he couldn't because he just doesn't have the sophistication required. At the same time, he sees things outside the box. It is enlightening speaking to him and hearing his points of view.

He is nothing like the sorts of personalities involved in this scheme.

I goggled Autism in relation to this fiasco and the only thing that comes up is people speculating if the personalities involved have Autism as if this is the sort of thing that autistic people usually do. It shows how misguided some people are and how the them autistic has become an insult or a swear word. There might very well be an autistic person involved in this group but to think that everyone of them has the condition or their ring leader has it and possesses extraordinary organization or leadership skills at the same time is just farther abuse and smear of a rather benign psychological condition that has been spread by ignorant people and you are certainly a member of that group. I hope you are proud of yourself.
 
 
  • Comment #40
  • Quote
  • Feb 1, 2021 5:14am Feb 1, 2021 5:14am
  •  aquavox
  • | Joined Nov 2012 | Status: Member | 527 Comments
just for the record, i come from a family of 14
my mother adopted most of them, 1 or 2 had autistic traits and were great kids
https://www.agnesian.com/blog/giftedness-and-autism-savant-skill-fact-sheet#
Old Dog Kiwi
 
 
  • Comment #41
  • Quote
  • Feb 1, 2021 5:15am Feb 1, 2021 5:15am
  •  Mingary
  • Joined Mar 2011 | Status: I should be on your ignore list | 2344 Comments
Quoting fxsport
Disliked
{quote} Don’t mind OutThere - That poster is so Full of hated of anything and anyone that is not politically correct, that they can’t understand English in the context that it has been used here. EVERYONE with common sense understands the usage and context here - EXCEPT Out There! No one on this thread, except out there, has displayed their ignorance of the word autism as it relates to the Reddit boys. Please tell everyone WHY we must change Our comprehension and understanding of the English language as a relates to this case when it is you who...
Ignored
"No one on this thread, except out there, has displayed their ignorance of the word autism as it relates to the Reddit boys. Please tell everyone WHY we must change Our comprehension and understanding of the English language as a relates to this case when it is you who do not understand context?"

1OO % correct.
Since no one can be this dumb, it's clear our friend "outthere" is making a political issue out of this..
Every replies that he has made on this issue has been concluded by some neurotic attack against trump that has nothing to do with the issue.
It would seem like you could say "it's a nice day today" and the guy would get triggered
 
 
  • Comment #42
  • Quote
  • Feb 1, 2021 5:21am Feb 1, 2021 5:21am
  •  RossEdwards
  • Joined Jun 2019 | Status: Member | 3299 Comments
How big i this blowup... is this true?

Post on Redit:r/wallstreetbets r/wallstreetbets •Posted byu/johnnydaggers
1 day ago

" Initial analysis suggests that........ institutional insiders may have counterfeited a massive number of Gamestop shares which is why they tried to stop retail investors from buying more shares on Thursday.

There are are 71 million shares of GME that have ever been issued by the company. Institutions have reported to the SEC via 13F filings that they own more than 102,000,000 shares (including the 13% of GME stock is owned by Ryan Cohen). That is already 30,000,000 shares more than even exist.
On top of the shares reportedly owned by institutions, retail investors may currently hold 50+ million shares (counting both long holdings and call options – both ITM and OTM).
Once you include call options, retail investors may already hold more than 100% of GME (not just 100% of the float, more than 100% of the actual company). This would be definitive proof of illegal activity at the highest levels of the financial system."

Anyone any comments?
Warning: A Dangerous Subversive: 1% of comments CoCed
 
 
  • Comment #43
  • Quote
  • Feb 1, 2021 5:27am Feb 1, 2021 5:27am
  •  OutThere
  • Joined Aug 2018 | Status: Member | 910 Comments
Quoting Mingary
Disliked
{quote} "No one on this thread, except out there, has displayed their ignorance of the word autism as it relates to the Reddit boys. Please tell everyone WHY we must change Our comprehension and understanding of the English language as a relates to this case when it is you who do not understand context?" 1OO % correct. Since no one can be this dumb, it's clear our friend "outthere" is making a political issue out of this.. Every replies that he has made on this issue has been concluded by some neurotic attack against trump that...
Ignored
And you as usual have nothing in mind other than undermining your country's democracy and the financial and moral constructs that keep it together. One of these days the tree branch that you are sitting on while sawing it off will break and you and all your other sympathizers will fall to your demise. Chances are if you survive that, you will be blaming things on autism and lasers shot from space and Satanists and such. Enjoy laying on the bed that you make.
 
 
  • Comment #44
  • Quote
  • Feb 1, 2021 5:29am Feb 1, 2021 5:29am
  •  aquavox
  • | Joined Nov 2012 | Status: Member | 527 Comments
Maybe not all shareholdings , but CFD's (Proxies) representing Gamestop?
Old Dog Kiwi
 
 
  • Comment #45
  • Quote
  • Feb 1, 2021 5:29am Feb 1, 2021 5:29am
  •  OutThere
  • Joined Aug 2018 | Status: Member | 910 Comments
Quoting RossEdwards
Disliked
How big i this blowup... is this true? Post on Redit:r/wallstreetbets r/wallstreetbets •Posted byu/johnnydaggers 1 day ago " Initial analysis suggests that........ institutional insiders may have counterfeited a massive number of Gamestop shares which is why they tried to stop retail investors from buying more shares on Thursday. There are are 71 million shares of GME that have ever been issued by the company. Institutions have reported to the SEC via 13F filings that they own more than 102,000,000 shares (including the 13% of GME stock is...
Ignored
Did the stock ever split?
 
 
  • Comment #46
  • Quote
  • Feb 1, 2021 5:48am Feb 1, 2021 5:48am
  •  LloydOz
  • | Membership Revoked | Joined Oct 2019 | 571 Comments
Quoting aquavox
Disliked
just for the record, i come from a family of 14 my mother adopted most of them, 1 or 2 had autistic traits and were great kids https://www.agnesian.com/blog/giftedness-and-autism-savant-skill-fact-sheet#
Ignored
Yes, (and for those who clicked on the link) hence my rather droll comment #26 where I thought I knew the gifts of autism only for me to be fed the usual "disabled" drivel. I don't wish to get philosophical about this on this forum. Nuf said.
 
 
  • Comment #47
  • Quote
  • Feb 1, 2021 6:10am Feb 1, 2021 6:10am
  •  OutThere
  • Joined Aug 2018 | Status: Member | 910 Comments
Quoting LloydOz
Disliked
{quote} Yes, (and for those who clicked on the link) hence my rather droll comment #26 where I thought I knew the gifts of autism only for me to be fed the usual "disabled" drivel. I don't wish to get philosophical about this on this forum. Nuf said.
Ignored
Do you prefer syndrome or disorder over disability?
Autism has been described using all those words.
Not all autistic people are particularly gifted but if they are, 'gifted' is also used but then the question comes up; how gifted?
Well, Nuf said but I now know that 'disability' is not a good word. My friend never complained about that word. Now I know. thanks.
 
 
  • Comment #48
  • Quote
  • Feb 1, 2021 6:11am Feb 1, 2021 6:11am
  •  Mingary
  • Joined Mar 2011 | Status: I should be on your ignore list | 2344 Comments
Quoting OutThere
Disliked
{quote} And you as usual have nothing in mind other than undermining your country's democracy and the financial and moral constructs that keep it together. One of these days the tree branch that you are sitting on while sawing it off will break and you and all your other sympathizers will fall to your demise. Chances are if you survive that, you will be blaming things on autism and lasers shot from space and Satanists and such. Enjoy laying on the bed that you make.
Ignored
You come across as a total nutter. Please get help.
 
 
  • Comment #49
  • Quote
  • Feb 1, 2021 6:12am Feb 1, 2021 6:12am
  •  OutThere
  • Joined Aug 2018 | Status: Member | 910 Comments
Quoting Mingary
Disliked
{quote} You come across as a total nutter. Please get help.
Ignored
You come across as totally enjoying that image that was applied to you. Keep enjoying it forever.
 
 
  • Comment #50
  • Quote
  • Feb 1, 2021 6:35am Feb 1, 2021 6:35am
  •  asking
  • | Joined Nov 2016 | Status: Member | 135 Comments
Buy the real stock and get the dividend . It's obvious in option when you open an order either way the other side taking bets against you . You can't sell stock that you don't have ! .
 
1
  • Comment #51
  • Quote
  • Feb 1, 2021 7:28am Feb 1, 2021 7:28am
  •  RossEdwards
  • Joined Jun 2019 | Status: Member | 3299 Comments
Quoting OutThere
Disliked
{quote} Did the stock ever split?
Ignored
Apparently not..
Warning: A Dangerous Subversive: 1% of comments CoCed
 
 
  • Comment #52
  • Quote
  • Feb 1, 2021 2:20pm Feb 1, 2021 2:20pm
  •  Guest
  • | IP XX.XXX.149.21
I just now noticed that there are 6,600 open call option positions for GME at the strike price of $800. The only saving grace is, at an $800 strike price, they probably didn't pay too much (hopefully) for the options contracts. At expiration date this Friday, even if GME gets up to $799 per share, these option contracts will be worthless
 
 
  • Comment #53
  • Quote
  • Edited 4:28pm Feb 1, 2021 4:07pm | Edited 4:28pm
  •  LloydOz
  • | Membership Revoked | Joined Oct 2019 | 571 Comments
Quoting Guest
Disliked
I just now noticed that there are 6,600 open call option positions for GME at the strike price of $800. The only saving grace is, at an $800 strike price, they probably didn't pay too much (hopefully) for the options contracts. At expiration date this Friday, even if GME gets up to $799 per share, these option contracts will be worthless
Ignored
$800 calls expiring 5 Feb last traded at $7.60. Down $37.90 from Friday's close. Over 10,000 traded just today (Monday).

On the other hand, there are about 40,000 puts open with a strike of $1.50, $1.00 and $0.50. They are trading (about a 1,000 today in total) at one cent. No, I don't understand, either.

Edit - and there are about 50,000 puts at those strikes expiring end of next week, trading at 1 cent. I do understand - if GME's price sinks to say $50 or $10 or less fairly quickly those little buggers will be worth a couple bucks, maybe quite a lot more. Nice. Something that Nassim Nicholas Taleb would do, and probably is..(am I allowed to say that? He is known for buying strikes a few dozen standard deviations away).
 
 
  • Comment #54
  • Quote
  • Feb 2, 2021 10:51am Feb 2, 2021 10:51am
  •  Guest
  • | IP XX.XXX.149.21
It has been quite some time since I traded options and maybe I'm missing something, but I don't see holding put options at $1.50, 1.00, and $.0.50 having any value at expiration if GME price sinks to $50 or $10. It seems to me these put options would be worthless at expiration.
 
 
  • Comment #55
  • Quote
  • Feb 2, 2021 11:46am Feb 2, 2021 11:46am
  •  harcos
  • | Joined Mar 2020 | Status: Member | 482 Comments
Quoting Guest
Disliked
It has been quite some time since I traded options and maybe I'm missing something, but I don't see holding put options at $1.50, 1.00, and $.0.50 having any value at expiration if GME price sinks to $50 or $10. It seems to me these put options would be worthless at expiration.
Ignored
They are either bought as insurance against an opposing position or as a lotto ticket just in case or are part of a spread
 
 
  • Comment #56
  • Quote
  • Feb 2, 2021 12:01pm Feb 2, 2021 12:01pm
  •  OutThere
  • Joined Aug 2018 | Status: Member | 910 Comments
it says it is crumbling: https://www.msn.com/en-us/money/markets/reddit-trades-crumble-as-gamestop-amc-and-silver-plunge/ar-BB1djv1l
 
 
  • Comment #57
  • Quote
  • Edited 2:33pm Feb 2, 2021 1:55pm | Edited 2:33pm
  •  LloydOz
  • | Membership Revoked | Joined Oct 2019 | 571 Comments
Quoting Guest
Disliked
It has been quite some time since I traded options and maybe I'm missing something, but I don't see holding put options at $1.50, 1.00, and $.0.50 having any value at expiration if GME price sinks to $50 or $10. It seems to me these put options would be worthless at expiration.
Ignored
Hello Guest. If the price went to $10 there would be a significant chance that it could go to $1. And then to zero. But as I said, it would have to happen quickly, of course, like within a timeframe of a few days at best, at worst sometime prior to expiration when the options maths gets very tricky and chaotic.. In fact, on a severe drop off (air gaps, no buyers), those 1 cent options may explode in price.

It happens in futures markets, like with crude oil occasionally and elsewhere. I've seen options which closed at 1 cent of Friday trade at several thousand dollars on Monday when they expired. I was once on the receiving end on one of those occasions. Nice. Dumb luck.

So, this has been known to happen and it defies standard probability theory. Taleb is the author and promoter of the Black Swan thesis.

In normal circumstances when strike is close to price at expiration that is called "pin" risk. This happens at every expiration - so expected and common. That is by the way.

Sitting at a couple 100 bucks or whatever, that chance is miniscule, hence why they are priced/trading at 1 cent. As harcos mentions, a bit like a lotto ticket.

And, to rant a bit - the likelihood of this happening is enhanced exactly by virtue of the pump scheme. If the Reddit crowd sell, well who buys? The short sellers may have bought back at a lower price, but alas, they are long gone (savvy folk would have been shorting when it went dizzy, though - that would have been a pretty safe play for anyone with deep pockets, and lo, it has transpired, surprise surprise). Equilibrium may be found at a price much less (a few cents?) than where it started before the buying spree.
 
 
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  •  Guest
  • | IP XX.XXX.191.46
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  • Posted: Jan 29, 2021 1:34pm
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     Newsstand
    Category: Entertainment News
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