/biz/ - Business & Finance

idiot

>>29725652
yes you are a genius. Please marry my daughter

>>29725909
Could I could a second opinion, doc?

>>29725652
>>29726284
It'll be double digits from tomorrow so I think you're fine?

>>29725652
What was the premium, faggot. It's a fucking retarded play regardless. Puts at the money are best suited for those that actually own the stock and want downward protection (in normal scenarios, obviously in case of gamestop the volatility is too off the charts for this to make any sense). If you are trying to gamble that a stock price goes down you are mathmatically way better off buying a put way below the current price. So it looks like you made the right pick on the future price of the stock but made a retarded trade regardless that will leave a shitton of money on the table. You probably would have made 4x on a $100 put or lower

>>29726469
It was $5700. I was up about $300 at market close. I hope to make about 5k. Is this reasonable or should I try to sell it off as quickly as possible tomorrow?

>>29726365
check these double digits bobo, and remember you're next

>>29726715
Sell it off tomorrow if GME tanks but hold and sell on Monday or Tuesday if it doesn't. It will probably tank again but I never buy puts because it's longterm a stupid strategy and you're fighting inflation in a zero-sum game plus tremendous fees

>>29726828
>28
Yup that's the GME price for next Friday

you will get crushed by IV noob

>>29726469
I know you weren't talking to me but lets pretend I made pic related trade this morning when the price was $140. No voodoo magic is gonna magically fuck me over tomorrow right..?

>>29726715
This trade is so incredibly retarded. I do think you make money more than 50% of a time because GME is indeed going to be under $93 next Friday a little bit more than half the time. But your max gain is incredibly capped because GME isn't going under $50 and obviously can't go under 0. So 40% of the time you lose a lot or everything so 60% of the time you can make a small gain. Truly a stupid strategy. Now compare to buying the $100 put and at least when GME tanks to $50 (which it most certainly could) you make a more solid amount.

>Meanwhile, on the other side of the lake...
Btw I wasn't really up half a million percent today, it just says that because my options closed at 0.01 during the trading halt into close yesterday (as they sometimes do during circuit breakers, apparently)

>>29727146
>No voodoo magic is gonna magically fuck me over tomorrow right..?

idk it's hoesrly like 50/50. If it's anything like the last pump and dump there's a high chance GME pumps big tomorrow since all the redditors want it high on Friday so the calls expire ITM. The problem is 50% of thhe time you get fucked and GME is pumping above $140 tomorrow, and the 50% of the time you win it's not that good because at best GME dumps down back to $60-$70 which isn't all that impressive for a 50% at losing your investment

>>29727342
Forgot to post whole pic

>>29727342
>>29727146
The yikes part is that in the long run you both are losing huge to fees and taxes.

>want to fight the hegies so hard that you become the hegies

>>29727408
did you at least sell 4 contracts to cover your cost? fricken epic

>>29727408
Incredibly retarded trade. The sad thing is that you call buying degenerates aren't even helping pump the price of the stock. If every call buyer spent the money simply buying the shares instead the squeeze would unironically squooze.

I hope you have an exit strategy because there's less than a 10% GME actually ends up above $115 in July.

>>29727505
>fees
If you mean premiums, I bought during the $50-40 crab period so volatility was minimal
>taxes
I mean yeah but I'll still make a fuckton of money, I'm literally only 19 lmao

>>29726257
hey howdy dere pardner I see op done not taken ue up on yer offer so i'd like ta maerry her instea, dat awlright?

>>29727643
>If every call buyer spent the money simply buying the shares instead the squeeze would unironically squooze.
If you think retail investors amount to more than a drop in the bucket you haven't been paying attention
>I hope you have an exit strategy because there's less than a 10% GME actually ends up above $115 in July.
It hit 200 in AH yesterday and was above 115 for most of today, obviously I'm not holding till July and will sell when it moons

>>29727646
You didn't read what I said. Sure, you may be on the winning side now, but buying calls/ puts (very much unlike buying stocks) is a completely zero-sum game. For every call buyer who makes XX amount like youl, there is a call seller losing the exact same ammount. Except in the real world for example, you make say $13,000, government makes $4,000, fee makers make $40, and some other guy loses $17,340. So absolutely one time trades can make money, but in the longrun buying calls or puts is a completely losing strategy. Even hedgefunds don't profit with calls and puts despite ridiculous expersize. The only way buying a call or put is a good strategy is if you have insider information

>>29727756
>If you think retail investors amount to more than a drop in the bucket you haven't been paying attention
Seriously don't know what you're trying to say here. Your pessimism is verifiably false. GME float is often well over 100%, more than half are retail investors. Hell, GME total float is somewhere around 30 million. You really think 10 million, hell, even 100,000 active retail traders can't end up owning a good amount of 30 million shares? ( with your $17,000 you could have easily bought 300 shares, more than 10x what would be needed for 1 million retail investors to own up all of GME shares)

>>29727408
Congrats. I don't understand these expiry things but if I could get 100k today out of a 17k cost, I'd sell at least your cost basis.

>Buying puts with 500+% IV that tripled in 2 hours off an ice cream cone tweet and computer outage at the Fed
You’ll probably be fine, but you’re playing with fire. Good luck

>>29727954
>10x what would be needed for 1 million retail investors to own up all of GME shares
Fucked this up. If 100,000 people each owned 300 shares of GME, they'd own up all of GME shares outstanding and there would be a near-infinite short squeeze.

>>29727954
Institutional ownership is something like 200%, this is and has been institutional infighting all along. Do you seriously think retail investors set up option chains to trigger the gamma squeeze yesterday?

>>29725652
You should be buying VIX calls when the market is this crazy

>>29728051
The ridiculous number of retail investors holding is the only reason GME pumped the first time or pumped this time, regardless to what intialling has set off the pumps. It's a lot harder to cover yoru shorts when 70% of shares are held by retards who refuse to sell in comparison to any normal stock where hedgefunds and other insititons will sell instantly at say 1% over a price target (like in 99% of stocks).

>>29728172
This is the weird thing. The Fed went off-line at the moment the price for GameStop started climbing. I don't understand, what would the Fed money-market system have to do with GameStop Short plays?

>>29726898
>>29727214
Thanks man. I hope to make at least some money off the trade. The stock I had it invested in had been trading sideways for a couple weeks so I wanted some action.