Dwayne Hoover
Footballguy
Yes and I have no intention of riding this all the way down to $20. I'll be out on some big moves down which I think are going to happen in the coming weeks.
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Stock Thread (5 Viewers)
- Thread starter St. Louis Bob
- Start date
Todem
Footballguy
That means the market is extremely bullish GME will exceed $500 a share in price. So if you think the stock will run to say a $1000 a share you have to pay 10K for the right to own it at $500 a share.
With options trading you do not want to exercise. You simply want to either buy and sell the position to close out the option on the market.
That 10K cost can be worth 2-3 times that if the stock went to 1K a share. Thats what you are betting on. So you buy the call. Then if the price runs to 1K a share you’ll sell that call to close out the position for a juicy profit. But if the stock goes the other way....the intrinsic value will decay....and you will have to decide to sell it for a loss to close it out before it expires to salvage some of your 10K risk before expiration.
The key is you risk can never be more than the 10K you paid for the option. And you never owned the stock.
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Joe Mammy
Footballguy
Upon further review the more prudent play will be to wait for the actual squeeze and then short it.
Captain Cranks
Footballguy
Meaning they believe the stock will be greater than $600 by next Friday.
Strike price ($500) plus cost $100 ($10,000 / 100 shares) = $600 breakeven.
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Capella
Footballguy
Dwayne Hoover
Footballguy
$1160, didn't get the best price of the day but wanted in. Pretty small play for me overall, just wanted to take a shot since I think we are going to see some violent moves down before long.
Todem
Footballguy
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TripItUp
Footballguy
cosjobs
Footballguy
I doubt they will halt after hours. Its kind of the wild west and circuit breakers are off. Plus, all the margin calls will be made at the close, so that ship has sailed and we prepare for next week's squeeze
cosjobs
Footballguy
Was it you that tipped me to FLGT? If so, thanks for the 40%. Wish I had bought more that 65 shares.
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cosjobs
Footballguy
David Dodds
Administrator
This is my fear. They do it tonight and let all the crooks off at a big discount. I think they know they will massively piss off their users though if they did this. AMC is a movie chain. It's already an established old business catering to boomers.
NajehHejan
Footballguy
Quick primer on what I know about SFIO:
- existing company is an empty shell. Per the 12/31 filing I just reviewed on otcmarkets, it is a clean sheel. Just one note payable for 25,000
- Agro Kings is buying the shell. It is a company that operates multiple business. Biggest one is Epiphany Cafe in New Zealand. I've done research and they are a real business, unless they faked me out tremendously with bogus Instagram/Facebook pages and yelp reviews etc.
- i got in arouund .015 and watched it ride up to .08 plus only to see it crash back to .03. Folks were losing hope that it was another OTC scam
- Today, a ton of filings got posted, getting all 2019 and 2020 financials loaded, which will make them OTC compliant. It will remove caveat emptor and allow otehr brokerages to buy it. I have TD Ameritrade so I have been fortunate. Allegedly after today even TDA won't allow caveat empor purchahses
- the bank facilitating the transaction is either assuming shares or has the option to convert at .20 per share. I forgot the exact details, I can go look it up
- I have 200,000 total shares at a cost basis of .038 and am hoping this finally gets Big Ern above the law. There is a group of internet dudes that own millions of shares. OS is 633 mllions shares, so not a bloated pig.
- existing company is an empty shell. Per the 12/31 filing I just reviewed on otcmarkets, it is a clean sheel. Just one note payable for 25,000
- Agro Kings is buying the shell. It is a company that operates multiple business. Biggest one is Epiphany Cafe in New Zealand. I've done research and they are a real business, unless they faked me out tremendously with bogus Instagram/Facebook pages and yelp reviews etc.
- i got in arouund .015 and watched it ride up to .08 plus only to see it crash back to .03. Folks were losing hope that it was another OTC scam
- Today, a ton of filings got posted, getting all 2019 and 2020 financials loaded, which will make them OTC compliant. It will remove caveat emptor and allow otehr brokerages to buy it. I have TD Ameritrade so I have been fortunate. Allegedly after today even TDA won't allow caveat empor purchahses
- the bank facilitating the transaction is either assuming shares or has the option to convert at .20 per share. I forgot the exact details, I can go look it up
- I have 200,000 total shares at a cost basis of .038 and am hoping this finally gets Big Ern above the law. There is a group of internet dudes that own millions of shares. OS is 633 mllions shares, so not a bloated pig.
cosjobs
Footballguy
cosjobs
Footballguy
@hooter311
Review our options for BTC trading again, please. I'm just buying stock in GBTC, since its easiest and I don't lose everything when (not if) I lose my passcodes. I was considering CoinBase and that one Chamat? told all the RH users to go to.
culdeus
Footballguy
I mean it could be they maintain very little long term debt and already have it covered with stockholder equity. AMC may own their overhead, where GME leases it. Issuing equity may do little for them, as a retailer, and has downstream issues among them loss of control of the board.
Or, it's a dying company and they would rather walk on the LTD they do have.
Sideshow Bob
Footballguy
cosjobs
Footballguy
General Malaise
Footballguy
KGB
Footballguy
TripItUp
Footballguy
Captain Cranks
Footballguy
cheese
Footballguy
Try this link If nothing else it will make you laugh. But seriously, the massive sell points being $420 and $420.69 is a bad sign for people trying to hold longer. Something tells me those PARTICULAR numbers were likely picked by the reddit crew finally cashing some in. If your dad bought in late, he didn’t set his sell limit at $420.69.
Reddit sales
culdeus
Footballguy
There hasn't been a clean entry point since COB Tues on GME.
He's asking about raising more shares, as GME would dilute their shares.
FreeBaGeL
Footballguy
To each their own and GBTC is easier but I'd rather just buy on coinbase. You have the same login protection as your broker and Coinbase is actually insured. Most importantly it lets you trade 24/7 while GBTC isn't even open after hours I believe so is only open 8 hours a day and not on weekends. If some major news breaks during non-market hours you just have to sit there and watch BTC plummet without being able to do anything about it.
cosjobs
Footballguy
Fidelity would not let me do it. TD charged 6.95 so I bought 15,000 to maximize the trade fee value
KGB
Footballguy
cheese
Footballguy
Sorry @FreeBaGeL I thought you were asking why GME isn’t rallying the way the other meme stocks are.
cosjobs
Footballguy
FreeBaGeL
Footballguy
Haha I was actually thinking exactly that this morning as there was a clear rejection off $420 this morning and I figured it was certainly redditors.
It will be an epic resistance turned to support if it busts through there though and $420.69 becomes the meme buying spot.
ETA: Yeah as mentioned above I was asking about GME raising capital with more shares but the 420.69 discussion is a fun one nonetheless.
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[icon]
Insoxicated
BigJohn
Footballguy
cosjobs
Footballguy
Also, for some reason I do not understand, if I have CoinBase, I can track all my account in TD from Fidelity.
Sideshow Bob
Footballguy
[icon]
Insoxicated
In for 15,000 in my Schwab account. Sadly I get hit with Gains there so need it to moon
General Malaise
Footballguy
Boy, Reddit sure likes to throw the "R" word around. Not sure I like that.
Sideshow Bob
Footballguy
(Reuters) - The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning both brokerages and the pack of social media traders that it was closely monitoring potential wrongdoing.
The week-long slugfest, pitching the little man against major financial institutions, has inflated stocks of a number of previously beaten-down companies, drawn outrage from politicians and calls for action from regulators.
It took off again on Friday as brokers including Robinhood eased some of the restrictions they had placed on trading, allowing video game store chain GameStop ( GME ) and headphone maker Koss Corp ( KOSS ) to jump 50% each in value.
In a rare joint statement the SEC, traditionally cautious with public pronouncements, said it was working closely with other regulators and stock exchange "to ensure that regulated entities uphold their obligations to protect investors and to identify and pursue potential wrongdoing".
"The Commission will closely review actions taken by regulated entities that may disadvantage investors or otherwise unduly inhibit their ability to trade certain securities," it added.
The showdown between small-time traders and professional short-sellers has also attracted the scrutiny of Congressional lawmakers, the White House and is being probed by the New York Attorney General.
Global equity markets have also suffered as funds were forced to sell some of their best-performing stocks, including Apple Inc, to cover billions of dollars of losses.
The benchmark S&P 500 was down 0.6% on Friday. [.N]
"The (GameStop ( GME ) ) rally will continue for as long as these trading platforms allow people to buy these stocks," said Joe Donohue, an investor in Stocktwits, a social media platform for equity investors.
"Once they shut it down - if they do - then there is going to be some selling. But until such time, the Robinhood/Reddit people are going to have their way with these stocks."
Robinhood said on its website that it was easing some restrictions, but still not allowing purchases of fractional shares in GameStop ( GME )and 12 other companies, effectively meaning smaller investors have to bet more in order to buy in further to the trade.
The brokerage, which has said its hand was forced by the surge in market volatility, was also maintaining numerical limits on the number of shares any one account could hold in each of the companies, further hampering players with existing positions from betting on more gains.
In one victory for the retail pack, short-seller Andrew Left, who runs Citron Research and sparked the slugfest with his call against GameStop ( GME ) , said in a YouTube video that his company would no longer publish short-selling research.
Facebook Inc took down a popular Wall Street discussion group, Robinhood Stock Traders, in a move its founder said was an unjustified response to the market moves.
RETAIL DARLINGS
On Reddit forum WallStreetBets, whose almost 6 million members are seen as having driven the rallies, GameStop ( GME ) and AMC remained overwhelmingly favored stocks.
J.P. Morgan has named 45 stocks that may be susceptible to similar "fragility events" in days to come, including real estate company Macerich Co, restaurant chain Cheesecake Factory Inc ( CAKE ) and clothing subscription service Stitch Fix Inc. ( SFIX )
The week-long slugfest, pitching the little man against major financial institutions, has inflated stocks of a number of previously beaten-down companies, drawn outrage from politicians and calls for action from regulators.
It took off again on Friday as brokers including Robinhood eased some of the restrictions they had placed on trading, allowing video game store chain GameStop ( GME ) and headphone maker Koss Corp ( KOSS ) to jump 50% each in value.
In a rare joint statement the SEC, traditionally cautious with public pronouncements, said it was working closely with other regulators and stock exchange "to ensure that regulated entities uphold their obligations to protect investors and to identify and pursue potential wrongdoing".
"The Commission will closely review actions taken by regulated entities that may disadvantage investors or otherwise unduly inhibit their ability to trade certain securities," it added.
The showdown between small-time traders and professional short-sellers has also attracted the scrutiny of Congressional lawmakers, the White House and is being probed by the New York Attorney General.
Global equity markets have also suffered as funds were forced to sell some of their best-performing stocks, including Apple Inc, to cover billions of dollars of losses.
The benchmark S&P 500 was down 0.6% on Friday. [.N]
"The (GameStop ( GME ) ) rally will continue for as long as these trading platforms allow people to buy these stocks," said Joe Donohue, an investor in Stocktwits, a social media platform for equity investors.
"Once they shut it down - if they do - then there is going to be some selling. But until such time, the Robinhood/Reddit people are going to have their way with these stocks."
Robinhood said on its website that it was easing some restrictions, but still not allowing purchases of fractional shares in GameStop ( GME )and 12 other companies, effectively meaning smaller investors have to bet more in order to buy in further to the trade.
The brokerage, which has said its hand was forced by the surge in market volatility, was also maintaining numerical limits on the number of shares any one account could hold in each of the companies, further hampering players with existing positions from betting on more gains.
In one victory for the retail pack, short-seller Andrew Left, who runs Citron Research and sparked the slugfest with his call against GameStop ( GME ) , said in a YouTube video that his company would no longer publish short-selling research.
Facebook Inc took down a popular Wall Street discussion group, Robinhood Stock Traders, in a move its founder said was an unjustified response to the market moves.
RETAIL DARLINGS
On Reddit forum WallStreetBets, whose almost 6 million members are seen as having driven the rallies, GameStop ( GME ) and AMC remained overwhelmingly favored stocks.
J.P. Morgan has named 45 stocks that may be susceptible to similar "fragility events" in days to come, including real estate company Macerich Co, restaurant chain Cheesecake Factory Inc ( CAKE ) and clothing subscription service Stitch Fix Inc. ( SFIX )
General Malaise
Footballguy
I don't know what SFIO is or does and Schwab says it's a tobacco company, but I had just enough alcohol last night to not care anymore so IN FOR 20,000 OF WHATEVER THIS IS!!!!111
Nick Vermeil
Footballguy
[icon]
Insoxicated
Nigel
Footballguy
4th largest for me (after $AMZ, $PTON, $SE), and not much separating 1 from 4. No plans to trim.
