Gamestop Corporation (GME): Huge open interest for 200 and 320 calls...

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GreedyAgorist

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Friday, 01/29/2021 2:25:57 PM

Friday, January 29, 2021 2:25:57 PM

Huge open interest for 200 and 320 calls. Think 320 might have left the building today, but your 200 calls being in the money still look like a strong possibility.

That is what Robinhood and company are probably concerned about. Of the people who are well ITM, how many are going to close their option positions in the last 15 minutes of the day? How many are in a position to actually have the 100 shares per contract assigned to them at the strike price? Each 200 strike call expiring today is 20k. How many people who trade on a phone app have that available? I am curious to see how this plays out.

A couple of days ago, I said the short squeeze would definitely be considered a success if GME finishes above 150. Over 200 would be at least a multi-run dinger, if not a grand slam. Over 320 would certainly be a game-winning walk-off salami IMO.

Not encouraging anyone to do anything crazy; just saying.

Conversation overheard in a swamp:
"I like your coat."
"This old thing? It's just a standard coat. Although it is double-breasted, so I guess that
makes it a double standard."
"Where can I find a double standard like that?"
"Any Banana Republic."