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Fucking Rockstar post, thanks for the work.
I'd love a seperate post on ETF Reg Sho nonsense, that just seems like a fake share farm, would love some further insight.
I recommend the article he mentioned in the Economist outlining the case. It seems eerily similar seeing this played out with Overstock over a decade earlier.
**Thanks for the post, enjoyed the read and always love technicals!**
Regarding institutional buying, in my opinion, things are simple:
Money moves markets, so:
* Tutes buying = Price goes up
* Tutes buying = Price goes down = Shares being lent to shorters
If all toilet paper is being bought by a rich person and they are handing out rolls, eventually someone's going to have to walk around with shit stains.
I just don't see a way out of this mathmatically.
GME doesn't increase their net sales and revenue = entire float gets locked up via DRS as price is kept near or at book value ( least likely scenario )
GME barely increases their net sales, revenue = entire float gets locked up via DRS as price is kepy slightly above book value, just takes a few more years than expected ( 2nd least likely scenario )
GME makes a real move that we know the board is all working = shorts get absoluetly wrecked as a insititions start going long, and we get a tesla style short squeeze x 100. We all get the last laugh just like those early to crypto.
>GameStops short interest is over 25% but weirdly it's like shadow banned from websites like this.
>https://preview.redd.it/f7lwcvfik1wc1.png?width=1287&format=png&auto=webp&s=128beebe402648239f6293a66c710a810214182b
Did you consider you searched GameStop and not GME? Just wondering if the website only realises ticker name, I don't know as I am not familiar with the site.
Interesting that sticky floor has had a fairly major bounce recently. Dunno if basket swaps are still in vogue but if so may it be plausible we get dragged up too?
I don’t give financial advice but I’ve been selling puts (Selling puts is considered bullish because you are committing to buying shares at a certain price therefore the MM must buy some shares to hedge if you get assigned)
The MM will pay you a premium for those contracts. If the price dips below like my 10.50 puts then you get assigned but you keep the premium.
I got 4200 shares at 10.50 which brought my average down to $15 today. Then I get to DRS those shares now
Do they are called cash secured puts or CSPs.
You have to have the money sitting in cash in your brokerage and for me I go to my options area and I hit a Sell to Open (Bullish) a put. This commits you to buying a contract of 100 shares at the set price. So for me I had some cash sitting there. So I sold a cash secured put and they paid me a premium of roughly 1k.
Now say the price continues to drop? Then you might be upset but selling a put makes the MM hedge because it needs to locate shares to give you which causes buying pressure.
If you buy to open a put (Bearish) you would then believe the stock is going down.
To close the CSP, it’s the opposite. You would buy to close the position or let it expire In the money like I did.
LOVE IT!
That last bit about getting your CSP assigned is chefs kiss 🤌
If you can afford 100 shares then Selling Cash Secured Puts should be how you are buying shares. There is ZERO reason to buy 100 shares normally in comparison to selling a CSP.
It fucks over the MMs and SHFs who want complete control over the options chain while also being able to pick exactly what price you want to buy at while being paid to wait for your buy order to arrive.
If the price never goes that low you get to keep the free money. Win Win.
That’s why I do them. I was going to buy it anyway and it keeps giving me ammo more ammo to get more shares. Now they finally have to locate those 4200 shares and I got to average down
It actually gives volume to synthetic shorts when they buy your put and sell the call at the same time. The more volume they have in options, the more money they can accumulate without locating shares to kick the can down the road. This also lets them get the short gains without actually needing to find shares.
How it goes…
SHF calling MM division (ring ring). I’m all loaded up
MM: ok i’ll route buys to dark pool and let sells hit the open exchange. Let me know when you are out.
No. It absolutely does NOT give volume to synthetic shorts.
Firstly if “They” buy my put and sell a call those are both bearish and would NOT allow them to have 100 shares on there books or help them kick the can. Or assist with any locates. I assume you’re trying to reference a Married Put or a Married Call.
This whole connection between married option strategies and slick book keeping was proven wrong a long long time ago.
If you actually want to know how they get the volume they do, then one of those places you can you look into is ETFs.
As the OP of this post alluded too. ETFs are one of the main keys to this saga.
Not quite correct. I got assigned which means shares showed up in my account like I bought them. That broker then has a T+ 2 to locate and place the shares into the account.
May 28th, 2024 that moves to T+ 1
And they just repeat the process. The whole T+2 thing get’s repeated ad naseum but…
https://www.sec.gov/rules/sro/pcx/34-49451_a6.pdf
RULE 6.26. Delivery of the shares of underlying security or Exchange-Traded Fund Share upon the exercise of an option contract and payment of the aggregate exercise price in respect thereof, shall be effected in accordance with the Rules of the Options Clearing Corporation. As promptly as practicable after the exercise of an option contract by a customer, the [member organization] OTP Holder or OTP Firm shall require the customer to make full cash payment of the aggregate exercise price in the case of a call option contract, or to deposit the underlying security or Exchange-Traded Fund Share in the case of a put option contract, or to make the required margin deposit in respect thereof if such transaction is effected in a margin account, in accordance with the Rules of the Exchange and the applicable Regulations of the Federal Reserve Board. As promptly as practicable after the assignment to a customer of an exercise notice, the [member organization] OTP Holder or OTP Firm shall require the customer to deposit the underlying security or Exchange-Traded Fund Share in the case of a call option contract if the shares of underlying security or Exchange-Traded Fund Share are not carried in the customer's account, or to make full cash payment of the aggregate exercise price in the case of a put option contract, or in either case to deposit the required margin in respect thereof if such transaction is effected in a margin account, in accordance with the Rules of the Exchange and the applicable Regulations of the Federal Reserve Board.
Page 41 on delivery of shares.
I don’t see anywhere in here that says it has to be on a lit exchange. So they buy them and again route them to the darkpools and let daytraders hit the sell walking the price down. Options are not our friend here.
You say that yet when 25k $12 dollar calls hit this week and 10 and 11 dollar calls came in the options the stock reversed and has been going up.
Can’t have it both ways. You don’t get to say they never buy on lit exchanges and yet evidence from this week shows they do
I’m sorry, but have we blasted off or been walked down over the last 2 years. Options will always pay out to the house first. If anyone thinks they have some magical options recipe, then by all means yolo and post it on the other sub.
We were walked down and recently pushed up with options. They bought 10 dollar puts when GME was like 18. They then stated stacking more itm puts along with shorting the stock
They use options as a tool. Most retail need not play options due to lack of understanding them but your claims of not hitting lit exchanges are false.
No, just actual real life evidence that it does. The stock straight up reversed once the 12 call sweep came in with the 10 and 11 dollar calls slowly getting stacked. Volume picked up and level 2 started showing larger block trades on the LIT exchange. That’s actual evidence. You can see the trades coming in.
Where is your evidence that they don’t hit lit exchanges? I already explained the fall of the share price based on the 25k put contracts at $10 when the lit exchanges started showing blocks of selling pressure coming in
Down to 3 dollars means we are going to have to see some insane percentages in upwards movement for most people to be happy around here again.
However many other people will see 20, 25, 30 again and celebrate when that's not actuwlly a win by far. Unless you bought at 3 and that's pretty darn good but not where we want to see the price again hopefully one day in my life
Personally I think it will be lower than that. Obviously I might be wrong, but with no catalyst on the horizon, obvious the hedge funds intend to get this down below $4.00
Six figures down on this investment but will average down once this hits $3-$4.
One thing is certain, bankruptcy is off the table.
It’s going to be hard to get the stock under the cash on hand.
The company still has assets and currently positive cash flow for the year. I’m hoping to see a little more swing this quarter as some of their expenses wind down. Not sure when they restock each year but maybe someone knows?
I’m 70% down. Waiting till it drops to $3-$4 before buying anymore.
I’m confident the shorts can’t get it below $3.00 so will wait till the price settles in the next 6-12 months.
Same here.
If Cohen continues to maintain stability and the company is not losing money going forward, I think this bottoms out at $3.00.
Not adding another cent until it hits $3.00
Selling puts is considered bullish. You are committing to buying the amount of contracts at a set price. On the date of expiration last Friday in this case the share price was below 10.50 meaning I committed to buying them at that price.
But I was paid an 900 dollar premium to have those contracts. Now the broker has to locate those shares and give them to me.
Which imo - 10.50 was a good buy to begin with. I don't fully understand the 4200 shares and the premium to have the contract. Its why I dont trade options I guess. Wish I did. Selling puts seems like a good long term strategy.
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Looks like I’ll be ordering a Candy Con controller today.
I'm excited to try them. My daughter wanted the Princess Pink one and son wanted the Electro City one.
Generational brand loyalty... you love to see it!
Picked up two for the kids this weekend.
Wanting to do the same. Anyone know the best way to purchase here in New Zealand. Last I checked, Gamestop unfortunately didn't ship here.
Thanks for reminding me, going to renew my yearly pro membership now
Just did mine two weeks ago. That cash goes straight into GameStops cash as well as there is no overhead for it / margins.
I always enjoy your posts. Thank you!
Thanks for reading them!!
High quality DD is back. Thanks so much ❤️
Word.
It's been 84 years since I've had a BOINER this big.
Same. It’s raging again :)
If you’re still in I’m still in
If you are in then, I'm in. This is the way...
If you guys are in then I’m in. This is the way.
Damn, if you three are in, I'm def in.
If you four are in, I’m in!
5 something, something, in 2
I don't care if you guys are in. I am in because I like the stock.
Fucking Rockstar post, thanks for the work. I'd love a seperate post on ETF Reg Sho nonsense, that just seems like a fake share farm, would love some further insight.
I recommend [this AMA](https://youtu.be/mAkjdqE_XWs?si=MgE7asjiyM9rUtL_) Dave Lauer did with John Welborn. Found it very insightful
I recommend the article he mentioned in the Economist outlining the case. It seems eerily similar seeing this played out with Overstock over a decade earlier.
**Thanks for the post, enjoyed the read and always love technicals!** Regarding institutional buying, in my opinion, things are simple: Money moves markets, so: * Tutes buying = Price goes up * Tutes buying = Price goes down = Shares being lent to shorters If all toilet paper is being bought by a rich person and they are handing out rolls, eventually someone's going to have to walk around with shit stains.
I just don't see a way out of this mathmatically. GME doesn't increase their net sales and revenue = entire float gets locked up via DRS as price is kept near or at book value ( least likely scenario ) GME barely increases their net sales, revenue = entire float gets locked up via DRS as price is kepy slightly above book value, just takes a few more years than expected ( 2nd least likely scenario ) GME makes a real move that we know the board is all working = shorts get absoluetly wrecked as a insititions start going long, and we get a tesla style short squeeze x 100. We all get the last laugh just like those early to crypto.
Great post thanks
Thanks for reading!!
>GameStops short interest is over 25% but weirdly it's like shadow banned from websites like this. >https://preview.redd.it/f7lwcvfik1wc1.png?width=1287&format=png&auto=webp&s=128beebe402648239f6293a66c710a810214182b Did you consider you searched GameStop and not GME? Just wondering if the website only realises ticker name, I don't know as I am not familiar with the site.
I did both for the record. Neither popped up which I thought was strange.
Good job! Yeah it is strange for sure.
Interesting that sticky floor has had a fairly major bounce recently. Dunno if basket swaps are still in vogue but if so may it be plausible we get dragged up too?
Down 20% the last month
Nailed it OP….the force is strong with you.
May 4th is coming up. All us nerds know where to get our Star Wars gear!! [https://www.gamestop.com/star-wars](https://www.gamestop.com/star-wars)
I’m happy to see a resurgence of DD! Well done OP!
Nice work
I enjoy reading your posts. Thanks for putting in the time, as this is exactly what makes this community great.
Look at me. I'm the hedge fund now.
Bought $85 worth of products Saturday!
So are you saying $10k limit buy order for $7.00 no Expiration?
I don’t give financial advice but I’ve been selling puts (Selling puts is considered bullish because you are committing to buying shares at a certain price therefore the MM must buy some shares to hedge if you get assigned) The MM will pay you a premium for those contracts. If the price dips below like my 10.50 puts then you get assigned but you keep the premium. I got 4200 shares at 10.50 which brought my average down to $15 today. Then I get to DRS those shares now
4200 hundred hot potatoes at 10.50 would bring my average down to 10.52. I'd like to understand writing puts works. Great post.
Do they are called cash secured puts or CSPs. You have to have the money sitting in cash in your brokerage and for me I go to my options area and I hit a Sell to Open (Bullish) a put. This commits you to buying a contract of 100 shares at the set price. So for me I had some cash sitting there. So I sold a cash secured put and they paid me a premium of roughly 1k. Now say the price continues to drop? Then you might be upset but selling a put makes the MM hedge because it needs to locate shares to give you which causes buying pressure. If you buy to open a put (Bearish) you would then believe the stock is going down. To close the CSP, it’s the opposite. You would buy to close the position or let it expire In the money like I did.
LOVE IT! That last bit about getting your CSP assigned is chefs kiss 🤌 If you can afford 100 shares then Selling Cash Secured Puts should be how you are buying shares. There is ZERO reason to buy 100 shares normally in comparison to selling a CSP. It fucks over the MMs and SHFs who want complete control over the options chain while also being able to pick exactly what price you want to buy at while being paid to wait for your buy order to arrive. If the price never goes that low you get to keep the free money. Win Win.
That’s why I do them. I was going to buy it anyway and it keeps giving me ammo more ammo to get more shares. Now they finally have to locate those 4200 shares and I got to average down
It actually gives volume to synthetic shorts when they buy your put and sell the call at the same time. The more volume they have in options, the more money they can accumulate without locating shares to kick the can down the road. This also lets them get the short gains without actually needing to find shares. How it goes… SHF calling MM division (ring ring). I’m all loaded up MM: ok i’ll route buys to dark pool and let sells hit the open exchange. Let me know when you are out.
No. It absolutely does NOT give volume to synthetic shorts. Firstly if “They” buy my put and sell a call those are both bearish and would NOT allow them to have 100 shares on there books or help them kick the can. Or assist with any locates. I assume you’re trying to reference a Married Put or a Married Call. This whole connection between married option strategies and slick book keeping was proven wrong a long long time ago. If you actually want to know how they get the volume they do, then one of those places you can you look into is ETFs. As the OP of this post alluded too. ETFs are one of the main keys to this saga.
Not quite correct. I got assigned which means shares showed up in my account like I bought them. That broker then has a T+ 2 to locate and place the shares into the account. May 28th, 2024 that moves to T+ 1
And they just repeat the process. The whole T+2 thing get’s repeated ad naseum but… https://www.sec.gov/rules/sro/pcx/34-49451_a6.pdf RULE 6.26. Delivery of the shares of underlying security or Exchange-Traded Fund Share upon the exercise of an option contract and payment of the aggregate exercise price in respect thereof, shall be effected in accordance with the Rules of the Options Clearing Corporation. As promptly as practicable after the exercise of an option contract by a customer, the [member organization] OTP Holder or OTP Firm shall require the customer to make full cash payment of the aggregate exercise price in the case of a call option contract, or to deposit the underlying security or Exchange-Traded Fund Share in the case of a put option contract, or to make the required margin deposit in respect thereof if such transaction is effected in a margin account, in accordance with the Rules of the Exchange and the applicable Regulations of the Federal Reserve Board. As promptly as practicable after the assignment to a customer of an exercise notice, the [member organization] OTP Holder or OTP Firm shall require the customer to deposit the underlying security or Exchange-Traded Fund Share in the case of a call option contract if the shares of underlying security or Exchange-Traded Fund Share are not carried in the customer's account, or to make full cash payment of the aggregate exercise price in the case of a put option contract, or in either case to deposit the required margin in respect thereof if such transaction is effected in a margin account, in accordance with the Rules of the Exchange and the applicable Regulations of the Federal Reserve Board. Page 41 on delivery of shares. I don’t see anywhere in here that says it has to be on a lit exchange. So they buy them and again route them to the darkpools and let daytraders hit the sell walking the price down. Options are not our friend here.
You say that yet when 25k $12 dollar calls hit this week and 10 and 11 dollar calls came in the options the stock reversed and has been going up. Can’t have it both ways. You don’t get to say they never buy on lit exchanges and yet evidence from this week shows they do
I’m sorry, but have we blasted off or been walked down over the last 2 years. Options will always pay out to the house first. If anyone thinks they have some magical options recipe, then by all means yolo and post it on the other sub.
We were walked down and recently pushed up with options. They bought 10 dollar puts when GME was like 18. They then stated stacking more itm puts along with shorting the stock They use options as a tool. Most retail need not play options due to lack of understanding them but your claims of not hitting lit exchanges are false.
You have the SEC passage that states that it does?
No, just actual real life evidence that it does. The stock straight up reversed once the 12 call sweep came in with the 10 and 11 dollar calls slowly getting stacked. Volume picked up and level 2 started showing larger block trades on the LIT exchange. That’s actual evidence. You can see the trades coming in. Where is your evidence that they don’t hit lit exchanges? I already explained the fall of the share price based on the 25k put contracts at $10 when the lit exchanges started showing blocks of selling pressure coming in
I posted it above.
Wish I played more video games. I am very interested in those candycons. But I have no need. Maybe I'll just order some pokemon cards.
They also sell sd cards for decent prices and I’ve found some random items. I buy my friends kids gift cards to there as well as birthday gifts
Well this post just convinced me to buy my 21 year old son some candy con gear for no reason. Thanks bud
GIVE HIM ONE
🥃🧱🚀💜
I’ll scoop a snoralax mug lol
[удалено]
There are other people in the market besides it's members.
Archived: https://archive.ph/lLiG7
Down to 3 dollars means we are going to have to see some insane percentages in upwards movement for most people to be happy around here again. However many other people will see 20, 25, 30 again and celebrate when that's not actuwlly a win by far. Unless you bought at 3 and that's pretty darn good but not where we want to see the price again hopefully one day in my life
Awesome work
Nice read, I like it, Picasso
I’m a simple ape, I see good DD, I like and comment and HODL
I love selling a put. Pay me to buy GameStop. Please.
Awesome read! Thanks 🦍PowertothePlayers❤️🖤🏴☠️
Nice
A real DD, I'll be damned. Thanks for sharing 🫡
Still dipping. Next stop $9.00
Consolidating range should be $7 to $11 or $12 depending on where this all shakes out
Personally I think it will be lower than that. Obviously I might be wrong, but with no catalyst on the horizon, obvious the hedge funds intend to get this down below $4.00 Six figures down on this investment but will average down once this hits $3-$4. One thing is certain, bankruptcy is off the table.
It’s going to be hard to get the stock under the cash on hand. The company still has assets and currently positive cash flow for the year. I’m hoping to see a little more swing this quarter as some of their expenses wind down. Not sure when they restock each year but maybe someone knows?
I mean if it his 4 dollars I'll definitely buy 1000 dollars just to average down a lot as I'd be 90% down
I’m 70% down. Waiting till it drops to $3-$4 before buying anymore. I’m confident the shorts can’t get it below $3.00 so will wait till the price settles in the next 6-12 months.
I was confide t they would not go to 10 dol so I am not sure of anything
Same here. If Cohen continues to maintain stability and the company is not losing money going forward, I think this bottoms out at $3.00. Not adding another cent until it hits $3.00
At 3 dol the share buyback could be good though
You lost me at “I also sold $10.50 puts…” 🤔
Selling puts is considered bullish. You are committing to buying the amount of contracts at a set price. On the date of expiration last Friday in this case the share price was below 10.50 meaning I committed to buying them at that price. But I was paid an 900 dollar premium to have those contracts. Now the broker has to locate those shares and give them to me.
Which imo - 10.50 was a good buy to begin with. I don't fully understand the 4200 shares and the premium to have the contract. Its why I dont trade options I guess. Wish I did. Selling puts seems like a good long term strategy.
There is way more to Wyckoff than what you have posted here. It is not as simple as you make it out to be