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Increased the gtc UUUU order at 3.63 to triple the position (instead of doubling it).

Considering adding 50,000 more shares of AMYZF at .95.

Holding the position in NK.

 

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  • Haven't mentioned it because didn't need naysayers because it is stupid, but I'm a med student doing this almost purely on my student loans while they're at zero interest. I've made +$20k since Decemb

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Call it FOMO or just stonking, but jumped in on TSNP on Friday at .3777.  It promptly fell to .35something.  Now I'm feeling pretty smrt.

Speaking of popped...I just popped my stonk cherry. 

Let's hope its so good I keep riding and not such a horrible experience I turn lesbian.

Xmet quietly moving on up through all this market chaos.

16 minutes ago, closetohumping said:

damn, not a stonk but did i miss out on GME or what lmao

there were ~70M shares short

avg recent historical volume is 7M/day

last week with 1 gap up, started trading 50M/day

friday and today with gigantic moves, it traded 150M/day

 

have the shorts covered?  nobody knows

1 minute ago, Walte464 said:

What’s the get out point on xmet

Idk but I'm sure I'll miss it because blind faith.

On 10/9/2020 at 4:27 PM, RCRanger03 said:

Status Report:

100% Green on: $FPVD (now a R/M into BigToken), $PFMS (Lazar, Squeaky Clean Shell ready for 10Q next week)

Slightly Green on: $FRSX$UPWT (Ticker Name Change, BCorp app pending), $FONU$SNVP (Custodianship Granted, awaiting PR of R/M company and/or current filings)

Slightly Red on: $CMGO (XA deal pending, OTCQB uplisting pending), $MEDH (Filings supposedly uploading as we speak), $PFWIQ (Lazar)

Way Red on: $ALPP (but still long, haven't reduced position but haven't been adding this dip)

Stockpiling: $XMET (Lazar, 11/6 courtdate)

If I had played my positions in this post from October with a little more confidence I'd be a millionaire right now... 

FPVD my entry was .0015 and it was running .003 at the time of this post. Today is running in the .011s

FRSX my entry was 0.80 and it was running 1.20 at the time of this post. Today is running in the $8 - $9 range (sadly I got caught on an overnight limit sell and sold out at $2ish)

PFMS my entry was 0.002 and it was at .004 at the time of this post , got absolutely slaughtered by a massive R/S on acquisition that fell through. Finally back around to my entry

ALPP my entry was .08, then I avg down to .06, and it was at .04 at the time of this post should have continued to avg down to .04. Today is running in the $4.40 - 4.70 range

XMET my entry was .0002, at the time of this post was barcoding .0002 - .0003. Today is running .004 - .005

SNVP my entry was .0008 averaged up and then back down, Today stuck in the .0007 - .0008 range

MEDH my entry was .029 averaged down to .01. Today is .015 - .017 range

UPWT became OWUV and went up .07 I sold some and it came back down to .01 - .02 Today back in the .03s

FONU took a small profit (put it in FPVD when it fell back down to .0016) it's up today

PFWIQ came out even

CMGO took a loss

 

Edited by RCRanger03

If there was a man amongst us we’d be writing $115 calls on GameStop all damn day right now

2 minutes ago, bluto said:

If there was a man amongst us we’d be writing $115 calls on GameStop all damn day right now

Holy shit the Jan 29 are trading at $10.  I might do something very stupid. 

A big ol' stop hunt just went down on ALPP. A whole bunch of new investors 4.5 - 4.75 just got slaughtered down to 4.14

10 minutes ago, Anastasis said:

Holy shit the Jan 29 are trading at $10.  I might do something very stupid. 

I did something very stupid at $8

1 minute ago, Hank_Hill said:

I did something very stupid at $8

I did something very stupid at 8.80.

Just now, Anastasis said:

I did something very stupid at 8.80.

LFG

2 minutes ago, Hank_Hill said:

LFG

I am going to blame @bluto for bringing this to my attention if it goes south. 

It’s damn tempting and I bet you guys win, I just don’t have the balls. Salute!

When I lose I'll stop stonking for a couple weeks and make up my loses by actually doing some work. Win win.

A little afternoon profit taking happening in ALPP at the moment, one could definitely expect this.  Also, the coulda, woulda shoulda department.  I imagine that several of us would be millionaires if we had not sold positions we held at some point over the last year.  I'm focusing my attention forward and upward for now.  I'm still trying to figure out a stop-loss strategy to lock in some of profits, but don't want to miss out on a run if it takes a dip before taking off again. 

28 minutes ago, Anastasis said:

Holy shit the Jan 29 are trading at $10.  I might do something very stupid. 

dont fear the reaper

13 minutes ago, bluto said:

It’s damn tempting and I bet you guys win, I just don’t have the balls. Salute!

LOL. GME about to go hulk mode. 

I defy you to find a better dopamine pusher than selling naked calls on a stock that has traded between 40 and 160 in the last 3 days. 

1 hour ago, Anastasis said:

I defy you to find a better dopamine pusher than selling naked calls on a stock that has traded between 40 and 160 in the last 3 days. 

lulz

image.png.2262f73a91d0b364b0b66cb091afc5c2.png

You guys have some balls. 

Also my BBRW sell order at .0065 hit (was in at .002). Terrible stonk to hold, fantastic stonk to trade. Will wait for its inevitable drop to do it all over again. 

Edited by Blotto

  • Author
2 minutes ago, Anastasis said:

I defy you to find a better dopamine pusher than selling naked calls on a stock that has traded between 40 and 160 in the last 3 days. 

Maybe Russian roulette
The Deer Hunter' (1979) Retro Review - PopHorror

Beware the gamma squeezes, fellas. Don't get burned.

2 minutes ago, Eastwood said:

Beware the gamma squeezes, fellas. Don't get burned.

Just so I'm understanding this ( I clearly don't fully understand this) the gamma squeeze is what occurs if the price exceeds the max call price ($115) correct? So just sell before then if it gets to that point?

13 minutes ago, Hank_Hill said:

Just so I'm understanding this ( I clearly don't fully understand this) the gamma squeeze is what occurs if the price exceeds the max call price ($115) correct? So just sell before then if it gets to that point?

Its going to give you a headache.
 
 
Context

What happened last week with GME stock price and option was a combination of a gamma squeeze [1] and infinite short squeeze [2]. For the first time in financial history all GME call options are in the money (ITM) because the highest call strike price set by the CBOE for Januaray 29, 2021 is $60.

Note: A primer on gamma squeeze:

https://www.reddit.com/r/wallstreetbets/comments/l2t9bf/gme_i_think_this_is_a_gamma_squeeze_where_dealers/

Market Maker [1] are in a condition never observed in financial history. Hundred of thousands of retail are buying the GME 60C across the options calendar and MM can't hedge properly because there are not enough GME shares to buy to properly financially hedge (accounting for the interest rate to borrow)

Market Structure
To summarize the market structure:
  1. Few GME shares to hedge.

  2. Hundreds of thousands of are buying the GME 60C because of the infinite short squeeze.

  3. January 29, 2021 60C call option are the highest one on the option change for that date.

  4. Conditions for Infinite Gamma Squeeze & Infinite Short Squeeze

As you may now realize --(MM and brokers) hope you don't -- there is a gap in the market structure that leaves them (MM/Citadel) vulnerable to massive losses.

Infinite Gamma Squeeze

Should million of retails buy the Januray 29, 2021 60C weekly on Monday, this will create an infinite gamma squeeze because MM still can't properly hedge, and are forced to buy shares at whatever price to hedge. MM doing so, forces brokers to margin call the shorts caught in their infinite short squeeze. Both conditions are pro-cyclical and feed on each other in an infinite feedback loop so long as more an more retails buy the GME 60C.

There is a chance that MM can dump the shares they bought to hedged the gamma steepening and call buying [1]. However, doing so does not make them market neutral. It effectively turns MM into a hedge fund. SEC may allow them to get away from this momentarily.

However, after the MM dump shares in an attempt to stop the infinite gamma squeeze they will be net short GME shares and unhedged/not market neutral. If after the MM dump, retails continue to buy GME shares up to the $60 price, MM will be caught in a exponentially worse gamma squeeze, which should GME go pass 60C (gamma bump) on the week of January 25, it would turn into the one of biggest tail risk event for the MM/Citidal.

tldr;

There is a gap in the market structure so that if millions of retails buy Januray 29 GME 60C on January 25 2021, there is a high probability of both an infinite gamma and short squeeze. This has never happened in financial history. And should millions of retail buy the January 29 GME60C 2021, the losses for MM but profits for retail will be massive. Retails could see 100000% return on their weekly GME Januray 29 call options at the highest strike price.

Edit1: Apparently there may be higher call prices for the January 29 2021 option chains. Fundamentally, this analysis is still correct. Should millions of retail all choose a common higher call strike price to buy (higher than 60C), the gamma squeeze will be triggered when that prices is hit.

Example:

Should millions of retail buy the January 29 70C or January 29 75C, and the infinite short squeeze continues. If the GME 70C or 75C is hit, GME share price enters a gamma squeeze.

What the MM are hoping for are twofolds:

  1. They scare retails to sell below $60. This alleviates the infinite gamma squeeze. Or;

  2. Retails don't all buy the same call options. But given that retail loves high risk, I hypothesize they will all choose the furthest OTM call options.

GME at 60 is the Maginot line next week. Should it go to 75, gamma and infinite short squeeze continues. Should it fall below it, MM have won a strategic victory.

Edit2:

For gamma squeeze, you look at the open interest (OI) and strike price. Should the share price get close to the price with a highest open interest, that's when the gamma steepening occurs as probability goes to 1. MM have to buy shares to remain neutral as the options are now ITM.

References

[1] https://www.reddit.com/r/wallstreetbets/comments/l2t9bf/gme_i_think_this_is_a_gamma_squeeze_where_dealers/

[2] https://www.reddit.com/r/stocks/comments/l21gpz/infinite_short_squeeze_explained_blue_appron_case/

[3] https://ca.finance.yahoo.com/quote/GME/options?p=GME

2 hours ago, Hornbeliever said:

Let's hope its so good I keep riding and not such a horrible experience I turn lesbian.

A concern, for sure. We'll need pics to properly gauge your risk level.

I tried to sell more calls when it was trading in the mid 80s but schwab engaged the training wheels. I'd love to trade out of it into a sub 70 close. 

2 hours ago, nycHorn said:

Grabbed a position on AMYZF at .853

Me too.  Doubled my AMYZF position at .85. Merck dropped out of the Covid vaccine race today discontinuing two candidates.  Hence, NK, ALT, VXRT, and other Covid plays are surging. 

Put a sell limit on my XMET shares at $3.00.  lol.  Just gonna let this thing ride and keep the shares locked up.  

37 minutes ago, SuperSport said:

A concern, for sure. We'll need pics to properly gauge your risk level.

I'm a dude so I think pics are the last thing you ever want from me.  NTTAWWT

This new brunette on CNBC is not particularly polished, but I want to give her a chance. 

16 minutes ago, Anastasis said:

I tried to sell more calls when it was trading in the mid 80s but schwab engaged the training wheels. I'd love to trade out of it into a sub 70 close. 

Woah man thought we were holding until 100 

1 minute ago, Hank_Hill said:

Woah man thought we were holding until 100 

I'm holding ride or die on this mofo. 

But if I see a 25% one day gain, I'll probably bitch out. 

I am perplexed by Xmet.  I sold like a dumas but it’s fun to see everyone making money.  I really thought that one was a dud.  Lucky I have a day job because I suck at this.

1 minute ago, Anastasis said:

But if I see a 25% one day gain, I'll probably bitch out. 

Yea, I'm haunted by my monday call sell last week. I'll probably get burnt from holding this time around cuz stonks. 

12 minutes ago, Trey3216 said:

Put a sell limit on my XMET shares at $3.00.  lol.  Just gonna let this thing ride and keep the shares locked up.  

Atta boy! 

14 minutes ago, Hornbeliever said:

I'm a dude so I think pics are the last thing you ever want from me.  NTTAWWT

Well then nevermind. Though a dude turning into a lesbian would certainly be something.

4 minutes ago, Hefeweizen said:

Lucky I have a day job because I suck at this.

Yeah, but it beats a heroin addiction. 

2 minutes ago, Anastasis said:

Yeah, but it beats a heroin addiction. 

Stonking is a heroin addiction.  

When you're sad and lonely, and have no place to go.

Call me up, sweet baby, and bring along some dough

And we'll go Stonky Tonkin', Stonky Tonkin'

We'll go Stonky' Tonkin', round this town.   

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