Although he looks alone, somebody wants him on the phone.
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"As in betting as the writer the PPS will go up."
No. If one is in options to make directional bets on the underlying, then one is doing exactly that: Betting - Gambling, and with poor odds at that.
GME options have enormous bid-ask spread which favors the writer. They have enormous theta which favors the writer. They have enormous implied volatility which favors the writer.
On the other hand, when one buys an option, the only greeks that run in their favor are delta, which is very low in GME's options, and gamma which is virtually non-existent in GME's options.
It's very obvious a lot of amateurs are betting on directional movement with GME's options, as they are terribly mis-priced.
When something is a terrifically bad buy, it may begin to make more sense to sell it?
No, still can't write them (sell to open). But you can buy them.
But the deltas are very low, while thetas are very high. Translated into English: Buying GME options is a terrifically bad idea.
Can one score big? Sure. But one can also put all their chips on one number at the roulette table and score big. Bad idea though.
I had written GME puts Monday and Tuesday to collect premium when the bids had become, quite literally, stupid.
On Wednesday morning though:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161248286
"This is millennials and Gen Z screaming at boomers"
Gimme a break:
Doing things I used to do, they think are new.
That's easy. They didn't want to get to where Robinhood got.
Windows 10 is an abomination. But with my own opinion out of the way, try hitting the Start button in the lower left corner of the screen then scroll down to "Windows Ease of Access". There are a variety of tools there including "Magnifier".
If your keyboard has a "Windows Logo" key, hold it and CTRL down to bring up magnifier directly.
Quickest and easiest though might be to just hold down the CTRL key and use your mouse wheel to zoom in and out.
Are you using Windows or Mac OS?
This is worth listening to. Carefully:
https://www.cnbc.com/video/2021/01/28/veteran-trader-art-cashin-wallstreetbets-may-have-some-big-professionals-in-hiding.html
That wasn't just a group of yahoos running that crowd. There were also professionals posing as yahoos.
As for your comment regarding credit cards, you prove my point.
The people who dismiss being able to get a return on money they were going to spend anyway (groceries, gas etc.) are the same people paying near usury rates by carrying a balance from month to month. Thirty to forty years of that kind of behavior creates a pretty daunting delta in your financial situation - between where you could be vs. where you are at retirement.
Of course I'd take it. Always.
"You would be surprised at how many people opt out."
No I wouldn't. I was a manager at a company in the early nineties. I remember trying to talk employees into taking advantage of a 401K with a pretty generous match. They just couldn't see the light. "Oh, it's insignificant".
Same thing with a 1% cash back on a credit card. With 12 billing cycles in a year it's the equivalent of a 12% annualized return on money spent, not even saved! And people like poo-poo it. "Oh, it's insignificant".
"how the hell can anyone get a decent return on their money?"
Not by following the lead of "pumpers" egging on an army of retail amateurs in a social media chatroom - no matter how "socially just" they purport their cause to be.
Save Sidney Powell -- She's cute.
I saw that. John Fortt (the host) called them on their BS, and completely disassembled them. I wouldn't doubt they were in those chat rooms egging on the small time retail.
You think Cohen is doing that out of the goodness of his heart? He's going to make a fortune. And that money is ultimately coming from small time retail.
Winklevoss twins are on CNBC right now pushing the social justice angle. John Fortt is absolutely disassembling them.
The whole "social justice" angle is total BS being pumped toward the dumb money retail that has poured into these trades.
The shorts simply haven't made their money yet. Margin is nearly free right now. If you've got the assets behind you to weather the squeeze (and that ain't retail) the money is going to flow to the 'evil hedgies' as retail is led into the slaughterhouse.
No, I don't think so.
"need to be put on the Next shuttle to Mars"
Be careful what you wish for. There could be a return...
https://en.wikipedia.org/wiki/Mars_Attacks!
I was shoveling snow today. It's 13 degrees right now and tonight's low is supposed to be 0.
Chili...
That does look good. Big pot of chili in the crock pot right now. Going to be sleepy soon...
You're mistaking short interest for short interest ratio. There has been an explosive demand for shares, and market makers have to fill that. So there is a statistical distortion.
Lol, some listed stocks really are acting like penny stocks.
https://www.investopedia.com/terms/s/shortinterestratio.asp
Listed stocks are behaving like penny stocks? I wonder if commission free trading has anything to do with that?
GME dropped 100 points on that news.
Beats me, I don't follow it. https://www.theverge.com/2021/1/27/22253251/discord-bans-the-r-wallstreetbets-server
Well, I took life science classes as electives through the rest of high school. And went with them as electives in college.
Reddit/Discord just shut down the "WallStreetBets" group. Due to "hate speech"?
Yeah, in high school biology was a sophomore class.
Apparently she wasn't paying a lot of attention in biology class, or she might not have been in that predicament in the first place?
So retail buying these securities at non-sense prices are at some point going to all try to hit the exits at once. And there is not going to be unlimited liquidity when that time comes?
Security impacts related to market conditions:
In the interest of mitigating risk for our company and clients, we have put in place several restrictions on some transactions in $GME, $AMC and other securities. We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors.
There was a notice on the TD website earlier (gone now) that the mobile app was experiencing outages. Too many people trading on their cell phones?
Yeah, theta on near the money puts this Friday is nearly $20!
If people can't write new contracts, and are only limited to buying existing contracts, then they are going to get bid into stupidity. Which seems to be precisely what's happening.
The GME and AMC markets are not operating correctly. A lot of value is going to turn into vapor. Question: How much of that soon to be vapor value is economic stimulus and deferred rents etc?
TD Ameritrade won't let me write GME puts today. They can't hedge themselves.
Underlying is a hard to borrow stock. We are not accepting this order type at this time.
I've been writing GME puts the last two days. People are bidding this Friday's expiration to ridiculous levels. Theta is higher than I've ever seen.
But I'm only in when I've got the time to stayed glued to the screen.
AMC is getting the herd treatment this morning.
Hypothetically? Lol, that's great. The shares that trade under the GYOG ticker represent no equity in that flight school anyway.
No worries. Life is best when we all get along.
Excellent! Thank you. Where should I stick the UV light?
In pirate, that's spelled "argghhh".
Obviously I don't believe it. But I do believe there are some people who do believe it.
How effective is that hypochlorite solution in removing orange stains?
So anyway, I guess the current 'Q' line is that Trump will be sworn in as the 19th President on March 4, succeeding Ulysses Grant.
I'm serious. That's what they're saying.