Wednesday, January 27, 2021 3:11:40 PM
I just sold puts on GameStop todasy foer the $5.00 strike, expires in November this year. 30 contracts for the right to buy 3000 shares of GME (GameStop) at $5.00 per share. And somebody paid me $4,500 for that.
That's free money. I tie up $15,000 in purchasing power till November. Big deal. GameStock is actually worth $5. That's the lowest analyst price target on it. It sure isn't worth $350. That's insane!!!
I can't even short the stock because the options are priced to the moon. I mean, $5 puts are priced at $1.50ish right now. That's free money if you are seller. I don't see the downside. I don't mind getting GME for $5.00 per share. But, I'm certain that won't happen. I'll just pocket the $4,500.
That's free money in my eyes.
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