/biz/ - Business & Finance

Look at these GME options. Those strikes and dates are awfully familiar. Melvin Capital (shorters on GME) tends to like to use 17P and Jan 15 for some reason. They could potentially just be hedges for an existing large position that has been accumulated, but the expiration dates are too short to suggest that.

They could also be bullish plays and a vehicle to acquire more shares with deep in the money puts. It's hard to sell at this point but I think the price point those puts were transacted at and timing does suggest they are more of a bearish play.

Might be prudent to prepare for a red day tomorrow considering macro conditions can entire Melvin to come full force if those are bearish puts, and I intend to close out on my aggressively bullish plays if things looks weak. I wouldn't be surprised of a 200k short right on the bell.