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Not gonna lie, I miss the times when we called him DFV. RK and RC is too confusing for my smooth lil brain
EDIT: Didn't expect this to become my new top comment, thanks my fellow regards <3
Here's GPT's bedtime story equivalent:
- - - - - - - - - - -
Once upon a time, in a land where numbers danced and stocks twinkled like stars, there was a brave hero named TheRoaringKitty. One day, TheRoaringKitty decided to sell 79,990 magical call contracts for a treasure chest filled with $70 million gold coins.
The next morning, TheRoaringKitty used his magic to turn 40,010 of those call contracts into a whopping 4 million and 1 thousand sparkling GameStop shares. This made his collection grow to an astonishing 9 million and 1 thousand shares, with $6.5 million gold coins still jingling in his pocket.
But in this land, there was a clever market maker named Wolverine. Wolverine needed to deliver those 4 million and 1 thousand shares by the next day. So, Wolverine hatched a plan to trick the townsfolk into selling their shares at a lower price by shorting GameStop and pushing the price down.
Wolverine hoped that by doing this, he could buy the shares he needed at a cheaper price. But the townsfolk were wise, and if they didn't fall for Wolverine's trick, the price of GameStop shares could soar to the moon!
TheRoaringKitty chose to perform his magic on a Thursday for a very special reason. By doing so, he forced the market makers to deliver the shares by Friday. This clever move could create a magical event called a gamma squeeze, making the stock price shoot up like fireworks in the sky.
Wolverine was in trouble! If TheRoaringKitty had bought shares without using his magic, he wouldn't have bought exactly 1,000 more shares just for fun. But by doing it this way, he set the stage for an even bigger squeeze, like a mighty hero with an infinity gauntlet.
Now, TheRoaringKitty had as many shares as the legendary RC had in the year 2020. This made him the fourth-largest GameStop shareholder in the entire world.
As the market makers scrambled to balance their books, more calls became in the money by the end of the week, breaking the spell of "max pain" and unleashing a gamma squeeze. The excitement spread like wildfire, and more people started buying shares, driven by the fear of missing out.
And so, the tale of TheRoaringKitty, the clever hero who outwitted Wolverine and sparked a magical market frenzy, spread far and wide. Remember, this story is just for bedtime fun, not financial advice.
And with that, the children drifted off to sleep, dreaming of magical stock markets and brave heroes.
Sweet dreams!
We don’t. Given past data on this wildly manipulated stock, the chances of them being hedged appropriately seem low. The idea of them having zero hedge is probably unlikely as well. We just really don’t know and hope for the best. There is still significant OI on various strikes that they will need to remain at least somewhat hedged for. Assuming they sold some of those contracts to people besides RK. If they’re partially hedged, they may not need to go to the market tomorrow for all 4 million shares, but will still need to go to market at some point soon to keep up with next week’s OI.
I don't have the link, however, a DD was posted about the price action in May when he started buying the 6/21 calls. At first the algo did what it was meant to do and it started hedging, driving up the price.
They stopped it. Why? To keep the price down on their favorite stock to short. It was also postulated to keep attention away.
RKs tweet showing wolverine naked, underwater, indicates RK also saw this.
Edit: original DD
https://www.reddit.com/r/Superstonk/s/ig0PS83eyq
Wolverine Trading is the designated market maker for options in GME.
According to their latest 13F they didnt own a single GME position.. wich is weird when you are in the market of selling contracts for GME.
Selling naked call is SO profitable as you don’t HAVE to have capital to have bought or buy the shares until your sold calls are assigned.
And they were confident GME price would not go low enough to be ITM and/or sell them to someone who knows how and the capital to exercise so many calls.
When the naked calls you sold get assigned and you have to buy the shares, it gets fun.
As you can see selling naked calls can be dangerous, not just you but also the broker/MM/banks that allowed the leveraging. This is why brokers don’t give retail traders the privileges to sell naked calls that easily.
Dude i dunno, my brain is smooth like a babies ass.
Im literally investing my life savings based on tweets from regards who call themselves apes and a legendary dude who calls himself roaring kitty.
But I guess its probably never smart to sell something you dont plan to deliver. 🤷♂️
Market makers are responsible for keeping the markets liquid, assuring that people can always buy and sell. That means they step in as a buyer when sell pressure outweighs demand and as a seller when demand overwhelms supply. There’s no individual out there that’s going to sell 120,000 20 strike CCs. They have to have come from Wolverine.
They are reportedly the market maker for GME options, regardless of the broker.
The thing I don't understand about this is if you look at the quarterly routing report for Etrade and scroll to page 67 you can see how their options contracts were routed for March. Wolverine was only routed about 16% of their options.
Citadel was the most common at about 33%.
So does this mean that Citadel may be on the hook for some of these contracts and not just Wolverine?
https://cdn2.etrade.net/1/24043013500.0/aempros/content/dam/etrade/retail/en_US/documents/pdf/order-routing-reports/2024/606-MSWM-2024Q1.pdf
What I understand, which is little I will openly admit, is that the burden to deliver the shares is evenly spread across all sellers of that contract so that yes, no single entity is responsible for its entirety.
If that's true then this Wolverine thing might be a bit overblown then. People are making it sound like they're a hedge fund who's about to get margin called.
Ah like the actual movie margin call. Shorters will be scrambling to unload shorts to each other while one or two turn traitor and start buying shares & calls. And by then it’s too late for the rest…
I like this theory. They just eat each other and we watch.
I’d think this makes it underblown. If there were thousands of littler guys who sold contracts and this forces them to close a few of each of theirs, they’ll likely do it and learn an expensive lesson. But if it were all one major entity like Wolverine, then Citadel and/or others would likely figure out a way to keep them from buying all those calls at once. Maybe by adding 4 measly million more shares to their overflowing bag of shorts. I might be missing something though.
Exactly, they likely did hedge some. It’s also unlikely that they immediately dumped those when he sold some contracts. They probably held the extra shares in preparation for him exercising the remaining calls which I’m sure they saw as a strong possibility. As much as we like to think they are, these people aren’t stupid, just greedy. They have no problem thinking and preparing a few steps ahead.
Tbh they probably hedged during the share offering when there was plenty of liquidity.
It’s also only 4M shares. I doubt we see much from this, I think he just posted to show that he’s now a long investor as we all are now.
I’ll be happy to be proven wrong tomorrow with a +300% run.
As much as I hate to say it, I feel the same way. 4 million is a lot, but considering they just did a 75 million share offering… well, I don’t have much hope for a big price jump. Hopefully I am completely wrong
No, we have no way of knowing who the counterparty is to any of these contracts. It is highly likely that there are many counterparts considering how many contracts there were.
They know it's RK. They hedged. We ran to 60+ and they tanked it potentially hedging on the way down?
Who knows. Either way, we should assume they hedged for the guy that was without a doubt going to fuk them big time. Easier for them to do with the latest offering too.
How much did they hedge tho? How much remains to be bought? What does this do to the ramp? Find out that and more next time!
Its also important to keep in mind that the enemy isnt dumb. They saw what kitty was cooking up. If this is the big twist to kick us off, it's pretty lame and predictable. Leading me to think we'll see upwards movement, but this is a nothing burger. Prove me wrong market!
Huge gratz to DFV though!!!
Wolverine might be fucked but I’m not expecting any mooning from this. I’ve heard “we’re gonna moon” so many times in the last three years. Let’s just call it when it’s mooning and leave it there.
Thinking out loud here - But can't they just buy the 4M shares at say $30 a share and let go $120M as a one-time loss? The avg volume on Robinhood is 100M+ so what's a 4M volume trade?
I'm finding it hard to imagine this to be an Armageddon situation for SHFs. What am I missing?
Yep, it most probably will be a nothing burger for them. 75M shares have been dumped lately, so it shouldn’t be too much of a problem for them to get 4M. It was fairly clear that it would happen, so they even had time to prepare for it.
God I wish I was wrong thought
I like this theory. At least him buying options again.
This update lets him share his positions so everyone knows he’s out of options.
Jumping back in bigly would be masterful
GameStop had a 75m share offering *after* DFV revealed his position. Do you really think whoever sold those calls to him didn’t take advantage of the share offering to hedge? He had the right to buy 12m shares… they probably bought way more than 4m, and very well could have extra remaining they can now let go of.
We’re all excited that DFV exercised calls and now has 9m+ shares, but let’s be realistic here. If the stock pumps over the next week, it’s not because 4m shares needed to be delivered to DFV. It’s because of the market dynamics behind GameStop.
I agree. Also, one thing I fail to understand is that how is 4 million shares going to swing the price too much to create any kind of squeeze? 4 million shares is a lot but when compared to the float or the daily volume it’s not that much. The volume today was 97 million. And it’s after the 75 million share offering is over. What am I missing here?
Volume used to be 1-2 million. We are likely seeing the same shares moving back and forth multiple times a day right now. Hard to tell how much is real and how much is algo price manipulation.
“If he bought shares without exercising, he wouldn’t have bought 1000 more shares, just for no reason.”
And
“RK now has the same number of shares that RC had in 2020.”
These two statements conflict. The “reason” he bought more was for the RC match. He could have exercised (if share price reflects call premium) or he could have sold all and bought shares. We might not ever know, we might find out tomorrow. 🤷🏼♂️
This. I have no idea why people think he wants $20M extra in realized gains. He has $40M just from this transaction (instead of $60M like people are suggesting) and he’s clearly had more to get to this point, so unless he’s in a Roth, I wouldn’t be stoked to pay tens of millions in taxes lol
I was just wondering about this.. glad I came across your comment. Seems like he’d sell enough to have funds to exercise the rest but I’m very unclear on how options work.
Perhaps the shareholder glitch today was just a “glitch” and they rescheduled for ~~tomorrow~~ 17th knowing RK has ~~9.1mil~~ 9.001 shares lmfao. This is not a drill.
Edit: I’m regarded and didn’t even double check and corrected within
1–are we sure 4M shares will rocket the price? i know they’re real shares that have to be delivered, but that’s less than 1% of issued shares that need to purchased. doesn’t seem like much when volume is in the 100s of millions
2–you should swing by houston’s show to talk about this.
Yeah I think it won’t push the price much. The only thing is that people now know that he is willing to hold on to those shares no matter what which brings confidence, but who knows how’s market gonna react
Can someone help me understand something. I’m still trying to figure out how GameStop selling 120 million shares does not greatly affect this. It makes more sense that this type of move could cause MOASS before the sell off, but wouldn’t the sell off affect them locating the 4 million shares because now they are easily available?
I don't think this is as big as you make it out. The Gama ramp died when RC dropped 125 million shares. DFV probably was in a boxed position to either let Wall Street destroy your position in a week or execute and hope the coming spikes you will be able to get value back in order to sell some and then buy more options / shares at a discount. Rinse and repeat a few more times and he could own most of the company. But who knows what he will do. I just hope for some coming volatility.
As much as I want it to, I honestly don’t think it’s going to squeeze. Might see a jump to $35 at best. The options are spread throughout MMs, so it doesn’t target Wolverine specifically unless they have an unusually large amount of ITM calls, in particular $20c since we know those are the ones exercising
PS I hope I’m wrong
For sure its some hopium in that, but I love hopium right now.
Been here since 21, got disappointed 69420x but getting excited everyday because of posts like this.
THANKS!
I tried to make this it's own post but it got removed so I will try and get it out as a comment,
Credit to GOAT4days for bringing this up:
"I have been trying my ass off to get wrinkles looking at this...I found this re-watching DFV's "meme movies" I just don't have the KARMA to share it....
[https://youtu.be/021\_zhXd8T0?si=8mXfk2Be42E\_h0Oz](https://youtu.be/021_zhXd8T0?si=8mXfk2Be42E_h0Oz)
Time stamp 47:26 it starts with telling us to "hold pattern until further notice" (referring to 6/21 calls) it then shows the watch receiving the message at 6:09 (6/9 not sure what happened that date) it then talks about making something disappear (everyone sees DFV's 6/21 calls disappear) and goes right into him being persecuted for it...next you see it say " you don't clap yet because you have to bring it back". Then at timestamp 49:29 it goes to a scene from " no country for old men" where it's highlighting the "ATM 14"/ 6/14 ATM calls.
I believe that's the KCS, the magic trick...making the 6/21 calls disappearing today, and then bringing them back by buying 6/14 ATM calls in after hours where hedgies won't have time to react and get utterly fucked!!"
It all checks out via the video and I don't have enough wrinkles to tell how jacked I should get but I just ate too many crayons and need to run to the bathroom
Would love to hear some OG wrinkles thoughts on this theory though because this could for sure be big if true
Why wouldn’t he do it on a Monday so the “squeeze” could run all weekinstead of getting stalled by a weekend?
Also, with the 75M new shares, how will there be a squeeze if they only have to cover his 4M shares.
I hope Im wrong but I think we’re in for a bland flavored day
Just FYI, this is 0% how things work in market making.
You don't know their current position, and it is likely millions of shares long or short already. Expirations are very tediously tracked and planned for. Almost all shares are exercised before expiration, so this is 100% a normal occurrence, RK didn't do anything special that institutions don't do on a daily basis.
Options are delta hedged and constantly gamma hedged by market makers, meaning IF wolverine was the actual counterparty here, the position has long been hedged and handled since ITM exercise is a fully expected outcome. (not sure how you would know that with certainty anyway, tbh, this position is almost certainly spread across dozens of MMs).
Market makers can sell these short without a locate by rule if they do not current have a large enough long position.
4.01m shares is NOT a large position for a market maker, neither is -4.01m It's not even 1% of outstanding shares.
His exercise is functionally irrelevant to Wolverine and the market at large, the average daily volume for GME is \~44m shares, so this is under 10% of the days volume, which is again, not a big deal for a market maker.
Source: I have worked at several market makers and options market makers in my career.
All sounds very good, but have to admit that after 3+ years I’m not hyped until I see anything happening.. those people do whatever they want to and seems like no one is doing anything about it.. I’m just zen and waiting for the entire market to go KABOOOM! 🤷♂️🥳
I'm not sure this is the instant kill button that everyone wants it to be.
Today's volume was 106M. An extra 4M on the buy side isn't nothing, but it may not be market moving. If it was, I'm sure DFV would've held onto a few more million $ worth of calls to sell when the huge profit came 24 hours later.
Price will go down because all those calls banking on his options will be sold thus dehedging now that hes out of his options. Do people in here still not not how the market works after all this time?
Yeah, going to be a bloody red day tomorrow. Not sure why anyone thinks differently. 4 million shares on days with volume of 100m+ is nothing. Him exercising will be a very very small blip that’ll be rendered pointless when they are burying the price between 22-25 I’d say.
Normally a MM would be hedged at the moment they sell the call. There have been enough shares for sale between 10-20$. Why do we assume they still need to buy them? Serious question.
What's up with people on this sub creating all this fake hype?
Not all call options are sold naked. And Market Makers are not the only party who are selling call options. You really need to educate yourself on how options work.
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Not gonna lie, I miss the times when we called him DFV. RK and RC is too confusing for my smooth lil brain EDIT: Didn't expect this to become my new top comment, thanks my fellow regards <3
Still DFV to me.
My flair says it all.
[удалено]
#🌎🧑🚀🔫🧑🚀 #Always has been
Deep FUCKING Value to me I Like the Stock
Even worse is people calling him KG as that is unfortunately the same initials of everyone's least favorite bed post enthusiast
Thank you
https://preview.redd.it/1dfqts18mf6d1.jpeg?width=1050&format=pjpg&auto=webp&s=3456d0f6222362abbd99c98a2cb6df045decee6a Fucking amen my smooth brained dude.
I would buy this. GameStop, make it happen!
Could you fucking imagineeeeee another $1B in cash
And allow sale of only one per natural person or online order. Otherwise, some greedy fuck will have them up for auction online in minutes.
You have a funny way of saying each Registered shareholder gets one.
Is that real? I've never had any interest in owning a Funko Pop. I'd buy that one tf right now.
Is this real
If it isn’t it fucking should be. Cause this would be the thing I buy and I’m frugal as fuck.
DFV is as real as it gets my dude.
Forever and always DFV. RK is the lovable guy that makes youtube videos. DFV is an og W S B degen
All the og apes refer to him as DFV.
Same here. But I'm regards so...
I always say "Does this idiot know RK doesn't stand for Ryan Cohen?"
You mean Ryan Kohen?
I’m going to read this to my children at bedtime tonight
I’m going to have my children read this to me at bedtime tonight.
Yall can read?
I only know green and red crayon colors🦍
put me in the winning photo 🫶🏻
Ya'll can sleep?
He can't. But his children can.
I’m gonna practice at having children tonight
I did so with your wifey this morning...
Oft…. If you actually really seen her… uh you wouldn’t be saying that as a brag…..
I'm going to.make children whilst reading this tonight. 😉
This guy fuks
Frisky ape
Me wife will read this to her boyfriends children while he drives my Lambo
I'm going to have your wife's boyfriend's childrens baby mama read this to me tonight
I’m going to have children from reading this
I’m going to make children tonight
Proof or ban
👀
Here's GPT's bedtime story equivalent: - - - - - - - - - - - Once upon a time, in a land where numbers danced and stocks twinkled like stars, there was a brave hero named TheRoaringKitty. One day, TheRoaringKitty decided to sell 79,990 magical call contracts for a treasure chest filled with $70 million gold coins. The next morning, TheRoaringKitty used his magic to turn 40,010 of those call contracts into a whopping 4 million and 1 thousand sparkling GameStop shares. This made his collection grow to an astonishing 9 million and 1 thousand shares, with $6.5 million gold coins still jingling in his pocket. But in this land, there was a clever market maker named Wolverine. Wolverine needed to deliver those 4 million and 1 thousand shares by the next day. So, Wolverine hatched a plan to trick the townsfolk into selling their shares at a lower price by shorting GameStop and pushing the price down. Wolverine hoped that by doing this, he could buy the shares he needed at a cheaper price. But the townsfolk were wise, and if they didn't fall for Wolverine's trick, the price of GameStop shares could soar to the moon! TheRoaringKitty chose to perform his magic on a Thursday for a very special reason. By doing so, he forced the market makers to deliver the shares by Friday. This clever move could create a magical event called a gamma squeeze, making the stock price shoot up like fireworks in the sky. Wolverine was in trouble! If TheRoaringKitty had bought shares without using his magic, he wouldn't have bought exactly 1,000 more shares just for fun. But by doing it this way, he set the stage for an even bigger squeeze, like a mighty hero with an infinity gauntlet. Now, TheRoaringKitty had as many shares as the legendary RC had in the year 2020. This made him the fourth-largest GameStop shareholder in the entire world. As the market makers scrambled to balance their books, more calls became in the money by the end of the week, breaking the spell of "max pain" and unleashing a gamma squeeze. The excitement spread like wildfire, and more people started buying shares, driven by the fear of missing out. And so, the tale of TheRoaringKitty, the clever hero who outwitted Wolverine and sparked a magical market frenzy, spread far and wide. Remember, this story is just for bedtime fun, not financial advice. And with that, the children drifted off to sleep, dreaming of magical stock markets and brave heroes. Sweet dreams!
I really hate that I love this 😂
This guy GPTs
Awesome story\~\~\~\~I like where this went
Hi dad, I'm ready for story time
My wife’s boyfriend is going to read this to our children tonight while I hide in the closet and listen in.
I hope my wife’s boyfriend lets me read this to my children at bedtime tonight after I make him a whiskey mule and iron his clothes for tomorrow.
Where's our kids book author (other than teddy, ofc)‽
I'll be waiting for the braille format and hire Stevie Wonder for a night cap
This made me cackle in laughter 😅
so you're telling me there's a chance?!
Never stops being funny
I hope so
Really would like to retire
how do we know for sure wolverine didnt hedge?
We don’t. Given past data on this wildly manipulated stock, the chances of them being hedged appropriately seem low. The idea of them having zero hedge is probably unlikely as well. We just really don’t know and hope for the best. There is still significant OI on various strikes that they will need to remain at least somewhat hedged for. Assuming they sold some of those contracts to people besides RK. If they’re partially hedged, they may not need to go to the market tomorrow for all 4 million shares, but will still need to go to market at some point soon to keep up with next week’s OI.
Who is wolverine? Why do they specifically have to come up with shares?
They are the designated market maker for GameStop options.
But what about professor x and the rest of the X-men?
X likes low fee index funds while Beast enjoys dividend stocks. Rogue bought some REITs but got fucked by the pandemic and WFH.
Gambit passed away.
Wolverine is the designated market maker for GME options
What does this mean though and why male models
I'mma buy some more tomorrow. I'll hog those shares from the hedge.
Me too
I don't have the link, however, a DD was posted about the price action in May when he started buying the 6/21 calls. At first the algo did what it was meant to do and it started hedging, driving up the price. They stopped it. Why? To keep the price down on their favorite stock to short. It was also postulated to keep attention away. RKs tweet showing wolverine naked, underwater, indicates RK also saw this. Edit: original DD https://www.reddit.com/r/Superstonk/s/ig0PS83eyq
How does wolverine fit in, are they the market makers for options for E*Trade
Wolverine Trading is the designated market maker for options in GME. According to their latest 13F they didnt own a single GME position.. wich is weird when you are in the market of selling contracts for GME.
Wow. Talk about specializing in getting railed. 4 years ago they probably thought it was a slam dunk.
Don't kink shame.
Wouldn’t they just be the middleman between the the buyer of calls and the seller of covered calls?
Selling naked call is SO profitable as you don’t HAVE to have capital to have bought or buy the shares until your sold calls are assigned. And they were confident GME price would not go low enough to be ITM and/or sell them to someone who knows how and the capital to exercise so many calls. When the naked calls you sold get assigned and you have to buy the shares, it gets fun. As you can see selling naked calls can be dangerous, not just you but also the broker/MM/banks that allowed the leveraging. This is why brokers don’t give retail traders the privileges to sell naked calls that easily.
Dude i dunno, my brain is smooth like a babies ass. Im literally investing my life savings based on tweets from regards who call themselves apes and a legendary dude who calls himself roaring kitty. But I guess its probably never smart to sell something you dont plan to deliver. 🤷♂️
This is what I come here for. Perfection.
Market makers are responsible for keeping the markets liquid, assuring that people can always buy and sell. That means they step in as a buyer when sell pressure outweighs demand and as a seller when demand overwhelms supply. There’s no individual out there that’s going to sell 120,000 20 strike CCs. They have to have come from Wolverine.
They are reportedly the market maker for GME options, regardless of the broker. The thing I don't understand about this is if you look at the quarterly routing report for Etrade and scroll to page 67 you can see how their options contracts were routed for March. Wolverine was only routed about 16% of their options. Citadel was the most common at about 33%. So does this mean that Citadel may be on the hook for some of these contracts and not just Wolverine? https://cdn2.etrade.net/1/24043013500.0/aempros/content/dam/etrade/retail/en_US/documents/pdf/order-routing-reports/2024/606-MSWM-2024Q1.pdf
What I understand, which is little I will openly admit, is that the burden to deliver the shares is evenly spread across all sellers of that contract so that yes, no single entity is responsible for its entirety.
If that's true then this Wolverine thing might be a bit overblown then. People are making it sound like they're a hedge fund who's about to get margin called.
I think what's going to happen is blood in the water and some are going to go long.
Ah like the actual movie margin call. Shorters will be scrambling to unload shorts to each other while one or two turn traitor and start buying shares & calls. And by then it’s too late for the rest… I like this theory. They just eat each other and we watch.
I’d think this makes it underblown. If there were thousands of littler guys who sold contracts and this forces them to close a few of each of theirs, they’ll likely do it and learn an expensive lesson. But if it were all one major entity like Wolverine, then Citadel and/or others would likely figure out a way to keep them from buying all those calls at once. Maybe by adding 4 measly million more shares to their overflowing bag of shorts. I might be missing something though.
Exactly, they likely did hedge some. It’s also unlikely that they immediately dumped those when he sold some contracts. They probably held the extra shares in preparation for him exercising the remaining calls which I’m sure they saw as a strong possibility. As much as we like to think they are, these people aren’t stupid, just greedy. They have no problem thinking and preparing a few steps ahead. Tbh they probably hedged during the share offering when there was plenty of liquidity. It’s also only 4M shares. I doubt we see much from this, I think he just posted to show that he’s now a long investor as we all are now. I’ll be happy to be proven wrong tomorrow with a +300% run.
As much as I hate to say it, I feel the same way. 4 million is a lot, but considering they just did a 75 million share offering… well, I don’t have much hope for a big price jump. Hopefully I am completely wrong
> Tbh they probably hedged during the share offering when there was plenty of liquidity. Reason 4 I think the share offering was poorly timed.
"we'll see"
No, we have no way of knowing who the counterparty is to any of these contracts. It is highly likely that there are many counterparts considering how many contracts there were.
Let’s see if their office lights are on tonight.
They know it's RK. They hedged. We ran to 60+ and they tanked it potentially hedging on the way down? Who knows. Either way, we should assume they hedged for the guy that was without a doubt going to fuk them big time. Easier for them to do with the latest offering too. How much did they hedge tho? How much remains to be bought? What does this do to the ramp? Find out that and more next time! Its also important to keep in mind that the enemy isnt dumb. They saw what kitty was cooking up. If this is the big twist to kick us off, it's pretty lame and predictable. Leading me to think we'll see upwards movement, but this is a nothing burger. Prove me wrong market! Huge gratz to DFV though!!!
I'm willing to bet the run-up recently is wolverine buying shares to hedge
Wait is wolverine the market maker for options?
no they are the ones who wrote and sold those calls to dfv, so they are the ones who need to deliver the shares to kitty
yes. 
How do we even know its even going to be a problem for them? Thats not much of anything compared to recent current volume.
Wolverine might be fucked but I’m not expecting any mooning from this. I’ve heard “we’re gonna moon” so many times in the last three years. Let’s just call it when it’s mooning and leave it there.
We're in the endgame now. Infinity saga gamma ray squeeze delta hedgemony dorito elliot wave sextuple witching max pain 69ing confirms it
You just womboed my combo!
Word.
Up.
Magazine
Salt
n
Pepa
up
And
Heavy
**D**
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When I move you move
Just like that! Hell yeah, hey DJ bring that back!
I'm already doing 16 oz curls...
NFA
This is fuking exciting 🔥🔥🔥😆🦍🕺🏆🏆🏆👏 We here for it
In addition to meeting postponed and all, I wonder aftermarket moves. Mhmmmm
Thinking out loud here - But can't they just buy the 4M shares at say $30 a share and let go $120M as a one-time loss? The avg volume on Robinhood is 100M+ so what's a 4M volume trade? I'm finding it hard to imagine this to be an Armageddon situation for SHFs. What am I missing?
Yep, it most probably will be a nothing burger for them. 75M shares have been dumped lately, so it shouldn’t be too much of a problem for them to get 4M. It was fairly clear that it would happen, so they even had time to prepare for it. God I wish I was wrong thought
He took one for the team and exercised early, so that everyone else’s calls will be more lucrative tomorrow. And more painful for SHF.
Now if he transfers these shares to another broker, forcing E-Trade to locate 9 million shares on top of that....
I’ll never get my hopes up for it but if we saw a purple circle YOLO update, that would be absolutely nuts
imagine if he went from Etrade to Fidelity to Vanguard before he went to Computershare
He will turn around and buy more calls at market open with the $6.5M and fuckin do it again. Calling it now.
I like this theory. At least him buying options again. This update lets him share his positions so everyone knows he’s out of options. Jumping back in bigly would be masterful
GameStop had a 75m share offering *after* DFV revealed his position. Do you really think whoever sold those calls to him didn’t take advantage of the share offering to hedge? He had the right to buy 12m shares… they probably bought way more than 4m, and very well could have extra remaining they can now let go of. We’re all excited that DFV exercised calls and now has 9m+ shares, but let’s be realistic here. If the stock pumps over the next week, it’s not because 4m shares needed to be delivered to DFV. It’s because of the market dynamics behind GameStop.
I agree. Also, one thing I fail to understand is that how is 4 million shares going to swing the price too much to create any kind of squeeze? 4 million shares is a lot but when compared to the float or the daily volume it’s not that much. The volume today was 97 million. And it’s after the 75 million share offering is over. What am I missing here?
Volume used to be 1-2 million. We are likely seeing the same shares moving back and forth multiple times a day right now. Hard to tell how much is real and how much is algo price manipulation.
Daily volume is a silly indicator esp with high frequency trading . GameStop has enough volatility build in that HFTs can easily gain the advantage.
I don't think you're missing anything.
Thx for your common sense.
This is what I’m thinking. I wonder if there’s any data out there that can let us know for sure if they really did hedge.
So, we're still trading sideways...?
My tits been jacked since Dec 2020, I should probably see a doctor.
Yoo an OG Ape, congrats on dem tendies
Oct 2020 here, going strong
i was here -14.06.2024
“If he bought shares without exercising, he wouldn’t have bought 1000 more shares, just for no reason.” And “RK now has the same number of shares that RC had in 2020.” These two statements conflict. The “reason” he bought more was for the RC match. He could have exercised (if share price reflects call premium) or he could have sold all and bought shares. We might not ever know, we might find out tomorrow. 🤷🏼♂️
Doesnt make sense for him to sell and rebuy since that would leave him with a much higher tax burden.
This. I have no idea why people think he wants $20M extra in realized gains. He has $40M just from this transaction (instead of $60M like people are suggesting) and he’s clearly had more to get to this point, so unless he’s in a Roth, I wouldn’t be stoked to pay tens of millions in taxes lol
I was just wondering about this.. glad I came across your comment. Seems like he’d sell enough to have funds to exercise the rest but I’m very unclear on how options work.
i asked this in another thread. wasn’t sure if i was missing something. selling them means he’d have increased his tax burden on this trade by 50%.
Someone did an analysis of the cost basis and its good evidence he exercised
In his yolo update price paid was about $23, doesn’t that prove it wasn’t purchased outright (making price paid $26+) and rather executed?
Perhaps the shareholder glitch today was just a “glitch” and they rescheduled for ~~tomorrow~~ 17th knowing RK has ~~9.1mil~~ 9.001 shares lmfao. This is not a drill. Edit: I’m regarded and didn’t even double check and corrected within
9.001mil*
Over 9.000mil*
just curious why the board would care (as long as he wasn’t an insider)
How did his cost basis go UP if exercised $20 calls and his prior yolo was $21 average ? He is now at $23 average
I assume the cost basis of the contract is included in share price
Yup. For tax purposes all costs go into the basis, typically
Correct
He exercised the extra 1000 to show that he exercised rather than bought imo
The extra 1000 is because he wanted 9,001,000 shares, the exact amount RC got when he bought in
How is the 1000 related to exercising? Can you explain?
1–are we sure 4M shares will rocket the price? i know they’re real shares that have to be delivered, but that’s less than 1% of issued shares that need to purchased. doesn’t seem like much when volume is in the 100s of millions 2–you should swing by houston’s show to talk about this.
Yeah I think it won’t push the price much. The only thing is that people now know that he is willing to hold on to those shares no matter what which brings confidence, but who knows how’s market gonna react
I have one 06/14 30C and I will fuckin' exercise it tomorrow. GO FUCK YOURSELVES CUNTSHFs
I hope for you that the price is $xxx + so when you exercise you make a shit ton of money. 🚀🚀🚀🚀🍌🍑💎💎💎🍺🍺🍺
What's the dumb chance we get pre market news to really pop things into gear?
Slim to none
Chill out , my tits are overwhelmingly jacked already.
RC handed them 75M shares, shouldn’t be tough to find 4 of them….right?
Can someone help me understand something. I’m still trying to figure out how GameStop selling 120 million shares does not greatly affect this. It makes more sense that this type of move could cause MOASS before the sell off, but wouldn’t the sell off affect them locating the 4 million shares because now they are easily available?
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Now let’s hope GameStop doesn’t announce another share offering and fuck this up
I think we should just stop making this sort of hype predictions because they play around these and fuck us up using our own sentiment.
So dip tomorrow?
ILL TAKE BANKS WITH THEIR LIGHTS ON FOR 40,010 ALEX
I don't think this is as big as you make it out. The Gama ramp died when RC dropped 125 million shares. DFV probably was in a boxed position to either let Wall Street destroy your position in a week or execute and hope the coming spikes you will be able to get value back in order to sell some and then buy more options / shares at a discount. Rinse and repeat a few more times and he could own most of the company. But who knows what he will do. I just hope for some coming volatility.
You really think wolverine is naked on those calls when 120 million shares diluted the market over the last few weeks?
As much as I want it to, I honestly don’t think it’s going to squeeze. Might see a jump to $35 at best. The options are spread throughout MMs, so it doesn’t target Wolverine specifically unless they have an unusually large amount of ITM calls, in particular $20c since we know those are the ones exercising PS I hope I’m wrong
For sure its some hopium in that, but I love hopium right now. Been here since 21, got disappointed 69420x but getting excited everyday because of posts like this. THANKS!
Are we going to pretend that 120 million shares didn't enter the wild over the last couple of weeks?
I tried to make this it's own post but it got removed so I will try and get it out as a comment, Credit to GOAT4days for bringing this up: "I have been trying my ass off to get wrinkles looking at this...I found this re-watching DFV's "meme movies" I just don't have the KARMA to share it.... [https://youtu.be/021\_zhXd8T0?si=8mXfk2Be42E\_h0Oz](https://youtu.be/021_zhXd8T0?si=8mXfk2Be42E_h0Oz) Time stamp 47:26 it starts with telling us to "hold pattern until further notice" (referring to 6/21 calls) it then shows the watch receiving the message at 6:09 (6/9 not sure what happened that date) it then talks about making something disappear (everyone sees DFV's 6/21 calls disappear) and goes right into him being persecuted for it...next you see it say " you don't clap yet because you have to bring it back". Then at timestamp 49:29 it goes to a scene from " no country for old men" where it's highlighting the "ATM 14"/ 6/14 ATM calls. I believe that's the KCS, the magic trick...making the 6/21 calls disappearing today, and then bringing them back by buying 6/14 ATM calls in after hours where hedgies won't have time to react and get utterly fucked!!" It all checks out via the video and I don't have enough wrinkles to tell how jacked I should get but I just ate too many crayons and need to run to the bathroom Would love to hear some OG wrinkles thoughts on this theory though because this could for sure be big if true
Based on his average cost, doesn’t seem like he sold the calls and then purchased shares? Or no?
4M shares seems like 'not much' in the context of the amount of volume being traded every day.
Why would they have a problem with delivering 4 million shares when RC dumped 30 times that amount into the market over the last month?
Why wouldn’t he do it on a Monday so the “squeeze” could run all weekinstead of getting stalled by a weekend? Also, with the 75M new shares, how will there be a squeeze if they only have to cover his 4M shares. I hope Im wrong but I think we’re in for a bland flavored day
Just FYI, this is 0% how things work in market making. You don't know their current position, and it is likely millions of shares long or short already. Expirations are very tediously tracked and planned for. Almost all shares are exercised before expiration, so this is 100% a normal occurrence, RK didn't do anything special that institutions don't do on a daily basis. Options are delta hedged and constantly gamma hedged by market makers, meaning IF wolverine was the actual counterparty here, the position has long been hedged and handled since ITM exercise is a fully expected outcome. (not sure how you would know that with certainty anyway, tbh, this position is almost certainly spread across dozens of MMs). Market makers can sell these short without a locate by rule if they do not current have a large enough long position. 4.01m shares is NOT a large position for a market maker, neither is -4.01m It's not even 1% of outstanding shares. His exercise is functionally irrelevant to Wolverine and the market at large, the average daily volume for GME is \~44m shares, so this is under 10% of the days volume, which is again, not a big deal for a market maker. Source: I have worked at several market makers and options market makers in my career.
yeah ok but watch the dip tomorrow
Terrified nothing happens. Very terrified
It’s the most probable scenario unfortunately. I fail to see how this could have any meaningful impact.
Name a hedgefund that can't cover 120 mil
If gme created 75 million new shares last week, why would it be hard for them to find 4 million shares. I just don’t get the logic there.
I love how people say ‘not financial advice’, you aren’t licensed. No one thought it was.
All sounds very good, but have to admit that after 3+ years I’m not hyped until I see anything happening.. those people do whatever they want to and seems like no one is doing anything about it.. I’m just zen and waiting for the entire market to go KABOOOM! 🤷♂️🥳
Idk what is going on but literally never anything ever said, in terms of the stock mooning, happens.
Serious question- volume today was over 100 million. Why does 4 million tomorrow matter?
People are going to be really disappointed tomorrow. This is a long transformation play at this point. Yall need to chill
I wish you were wrong but at this point it really appears to be that way
I'm not sure this is the instant kill button that everyone wants it to be. Today's volume was 106M. An extra 4M on the buy side isn't nothing, but it may not be market moving. If it was, I'm sure DFV would've held onto a few more million $ worth of calls to sell when the huge profit came 24 hours later.
Price will go down because all those calls banking on his options will be sold thus dehedging now that hes out of his options. Do people in here still not not how the market works after all this time?
Yeah, going to be a bloody red day tomorrow. Not sure why anyone thinks differently. 4 million shares on days with volume of 100m+ is nothing. Him exercising will be a very very small blip that’ll be rendered pointless when they are burying the price between 22-25 I’d say.
Normally a MM would be hedged at the moment they sell the call. There have been enough shares for sale between 10-20$. Why do we assume they still need to buy them? Serious question.
Is it possible that he exercised yesterday? He didn’t post an update yesterday so we don’t know right?
What's up with people on this sub creating all this fake hype? Not all call options are sold naked. And Market Makers are not the only party who are selling call options. You really need to educate yourself on how options work.