/biz/ - Business & Finance

Anonymous Tue Dec 15 11:41:28 2020 No.24827235 [View]
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>GME 7/16 15p
>Open interest dropped from 54K to 6K yesterday
So basically Melvin Capital bought the 54K puts at a $7 premium on Oct 15, only to execute 48K of the contracts at an intrinsic value of +$2.5/share this week to realize a 21 million loss?
why?

also maybe they're cutting losses on their short position. Too bad there are too many bagholders from $18,$19 that will also be eager to cut losses

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