$GME the battle of retail investors vs institutional investors

[Tim]

It became a poker game! Gambling without a limit on the bets. Bluffing allowed. At some point the game ends. Players talking across the table making alliances too!
The pot grows and shrinks as players cash out. Take a seat. Eventually, the pot disappears.

[Zaphod]

This was nuts. I saw it areound 44 in the morning which is where its basically been, did see a 50 and thought, whoa, good for them. Next time I saw it it was 72 and I checked option chain and it was ridic and it just exploded. I thought they named DFV as cfo or something.

[chrisCD]

Chances are if you were late to the party, too greedy, or actually holding for the cause you got screwed.

Yep (Latte/HODL). Recovery on the way? Who knows. Never invest what you can't afford to lose. But, I like that stock. I may be a cat. :O)

[DrSam]

I'll be the first to admit that I don't really fully understand how all this stuff works, but there are several posters over on reddit who claim to show proof that the hedgies haven't actually covered their short positions and gotten out of them at all, but instead have actually increased their short positions, but have been hiding it by shorting various ETF's containing GME while simultaneously going long on the other stocks held by these ETFs, effectively carving out a short position on only the GME portion of the funds. Where my understanding of how this stuff works sort of falls apart is in how exactly, this allows them to then report that they have covered their previous short positions and have it show up in the reported short interest percentage for GME. One claim is that they are simply lying in their reports, willing to face a relatively small fine from SEC for misreporting, the fine paling in comparison to the billions of dollars of potential loss or profit depending on how this whole thing eventually plays out.

I have to admit that I purchased a couple small bundles of GME on it's way down since Jan 28. Wish I'd waited on the first batch as I got in sort of high with that one, but overall, my average is below yesterday and today's closing prices. I figure there's a non-zero chance that the "stonk goes to the moon". If it doesn't I still won't lose huge money on it. (I also purchased a small amount of AMC at the same time, which I'm still in the red on.)

As alluded to above, I'm a pretty smooth-brained ape novice at this stuff and mostly stay somewhat conservative. Personally, I've never shorted anything in my life because it always seemed to me that while the most I could ever lose on a long position is 100% (which I'm sorry to say I've done more than once), the potential loss on a short position that goes the wrong way seems sort of limitless. (I'm sure that that limitless rule probably doesn't apply to "special" insiders in politics and Wal Street the same way it does to the little people like me, but I'm encouraged at the thought that perhaps some of the huge price gains yesterday/today were from bigger fish than me...perhaps whales big enough to fight back when the shenanigans from the short side hedgies start threatening their gains as much as mine.) Mark Cuban recently did an AMA over there and he seemed to basically encourage the reddit apes to keep holding and buy more on the dips. Perhaps he (or one of his cronies) is one of the whales that jumped in here. Who knows?

What I do know is that it was pretty darned amazing watching the numbers go haywire yesterday into the close and then in after-hours.

[Nysoz]

I took the advantage of the high iv/share price and sold July 800 calls at the top somehow lol

$5k per contract

[Lordosis]

A couple of dudes that worked at gamestop opened up an independent game store and sell a bunch of fun old gaming crap. I found it when my twin 3 year olds tried to see how many game disks they could cram in a wii. 4 is the answer.

Diskectomy only cost me 20 bucks.

I wish I had more free time.

[Panscan]

A couple of dudes that worked at gamestop opened up an independent game store and sell a bunch of fun old gaming crap. I found it when my twin 3 year olds tried to see how many game disks they could cram in a wii. 4 is the answer.

Diskectomy only cost me 20 bucks.

I wish I had more free time.

Lol at first I thought this was some kind of like surgery simulation game, then I figured out what I think you mean, paying the game store to fix your wii by removing the discs? I loled

[xraygoggles]

Lol at first I thought this was some kind of like surgery simulation game, then I figured out what I think you mean, paying the game store to fix your wii by removing the discs? I loled

Ditto.

I must be reading too many spine CTs lately, since I was confused as well, until I read your post.

[Lordosis]

Lol at first I thought this was some kind of like surgery simulation game, then I figured out what I think you mean, paying the game store to fix your wii by removing the discs? I loled

Yes I was going for a mix of doctor and video game humor.

Removal of the disks that were crammed into the drive only cost $20 which I thought was a fair price.

[Nysoz]

Ditto.

I must be reading too many spine CTs lately, since I was confused as well, until I read your post.

Maybe it's a radiology thing? I thought it was pretty obvious when I read it... you know what this means, a Lordosis poll!

[billy]

Is RKT now trending for the same reason GME was?

[CordMcNally]

Is RKT now trending for the same reason GME was?

No. As far as I can tell, people bought it wanting the ~5% dividend (at the time) they recently announced.

[udrag14]

Is RKT now trending for the same reason GME was?

Multiple reasons
1] Dividend on 3/8 makes the stock very appealing
2] RKT is undervalued. They smashed earnings and probably should trade in the 30 to 40 dollar range. Potential increasing interest rates have spooked wall street to sell or short
3] It is actually has a high short interest @ previosuly traded prices [unlike GME now]. WSB is hoping to short squeeze too.

[Zaphod]

Zaphod one of the finance podcasts I listened to pointed out that same point- even when the trade was going against you, the explosion of IV allowed you to make money if you got in early, or lose money if the trade went your direction when IV collapsed if you got in late.

Yes, I tried to tell my wife that selling a wide af strangle on GME was nearly a no lose situation as you can get (this was monday after initial mania was def broken), but since we were traveling and it was on the phone, etc...I was blocked from trading.
*Editors note: I was right, and she was right.

[BCBiker]

Yes, I tried to tell my wife that selling a wide af strangle on GME was nearly a no lose situation as you can get (this was monday after initial mania was def broken), but since we were traveling and it was on the phone, etc...I was blocked from trading.
*Editors note: I was right, and she was right.

Cannot touch GME. It makes so little sense. I wanted to buy bear put spreads on first one when was over $400 but did not. Would have only made maybe $10K so not worth risk really