/biz/ - Business & Finance

>>30240507
from what I understood this might have been the other plan to get out of his mess.
selling puts to cover at low prices, and buying call options to cover if it went to high prices. The $40 play didn't work though.
I remember this $40 options post at the time, quite controversial. People started saying they couldn't cover with puts, and well you can't if you are buying them, and the reddit OP says melvin reported Put holding.
well, it's still there for now, 6,000,000 shares
https://fintel.io/so/us/gme/melvin-capital-management-lp
If these 6,000,000 shares means Melvin bought these puts, it means reddit OP was full of shit and melvin was just being a retard again betting against GME instead of covering >>30229495.
If so he probably shorted the stock again while at around $50 since Jan.

>>30200769
kek, remove all "squeeze" from this comments and he's correct.
it stands for Short Sale Restriction