One of the biggest patent folders around if I remember. And they are in the middle of a big lawsuit against Facebook using said patent folder. So many potential news narratives that could spike it higher in the future.
I have a discord group I’m in that makes calls on option swings. I make a day trade here and there on the back of momentum but the majority of my gains the last 3 months is thanks to them. I’ve doubled my account value and learned a shit ton about technicals in that time.
Let's put it this way. Somebody could have paid $2 for a GME contract this morning at 6:30 AM (9:30 ET) and if they held until near the apex of GME's stock price today, they could have cashed it out for $1700. $10 -> $8500....$20 -> $17,000...you get the picture. So really you could have a couple of bucks in your account and run it up. Of course what happened today is so beyond rare and unpredictable that you will almost never be able to pull this off. Very few have the stomach to sit there and think they will make even more ridiculous profit than what they already have. It almost takes a moron to make that much money. I should add that the other side of what happened today (and this is what happens the majority of the time), is that at the end of the trading session the contracts expire beneath the target stock price and thus become worthless (you lose your entire initial investment if you hold).
Thats where I started. He exclusively day trades but hasn’t been very active recently because he works a real job. He was pretty solid. This is a group one of wolf’s member linked me to. It’s a paid group -$25/month - but the fee compared to their plays is nothing.
To be faaaairr...once GME started its move today, there was almost zero pullback except on the very shortest of timeframe. Anything 10min or above is just giant green candles from when it spiked.
I am strictly talking about the 0DTE options. At some point when you're up 100x on a 0DTE you're not really thinking, "This is going to 800x." If you bought farther out in time -- well, who am I kidding I would have taken profit on all my options today after a move like that.
Well, and this is where the being a moron thing comes in, if your entire point of the stock is to YOLO as much profit as possible, to post your gains back to your fellow Reddit mouth-breathers...then you just let it ride. Keep in mind, there’s over a million of them and we’ve seen like a dozen screenshots. I’m sure plenty of them did the “smart” thing...or even better, rode the wave until it crashed and lost more than half of their gains in about 20 seconds.
Yeah a decent point. I really don't think the majority of posters on WSB are willing to watch a profit die like that though lol. Maybe a few trust fund kids are rich enough to go for the glory like that. I guess we will see in the coming days as the fallout gets posted. Unbelievably, it's not even close to the highest possible return we have covered in this thread, but the IV levels were so ridiculously high that it's probably more impressive.
lol I just looked at the IV on GME's options chain. Incredibly absurd. They should pin the stock price to $60 for the next 3 months and just rake in huge premiums on puts and calls.
The craziest thing about GME is there really wasn’t even a catalyst for all of this. Like the only thing that has happened is mediocre new console sales and Ryan Cohen getting a board seat.
I for one will enjoy this meteoric rise and inevitable spectacular crash. There will be a documentary in a few years I’m sure after everything plays out
I feel like GameStop has a slim chance but needed to get out of bad commercial real estate locations. They did a mattress firm and badly overexpanded. Saw where palantir had high volume yesterday, and tipped their hand that they've had higher than expected growth.
Not that I’m trying to do a bunch of trades out of my Roth IRA, but mostly right now I old a few mutual funds then a little bit of Apple. Using GME as an example, let’s say I bought 200 dollars worth in my Roth last week and sold it yesterday for 1000 (just using easy numbers). My Roth now has 1000 in cash and I can use that like normal cash and there’s not short term gain tax or anything on the 800 I made in a week? Again not trying to day trade or anything, but I’ve always been hesitant to buy actual stocks just because the buying/selling aspect of it seems like it should be different because it’s a retirement account and not my “trading account”.
i remember years ago the "next big thing" in investing was websites that let you basically replicate the investing moves of pros for a small fee, all automated. that seems to have vanished into the wind as I haven't heard about it in forever. but yes I'd like to do that for a few of our thread members with some funny money
That's correct (someone correct me if I'm wrong on any if this), but they pretty much operate as a normal cash account. You won't owe taxes on the $800 ever. You'll want to wait 2 days for the $1000 to settle, then you have $1k to buy next week's hot pump.
I just sent in the applications for my sons. Having them as each other’s beneficiary was not pleasant for a father to write down.
For the record I wouldn’t be withdrawing the money. I’d just be taking the cash and reinvesting it into something else.
80% options and 20% swings with high beta stocks. It started out as a fun money account with a starting amount of 50k this summer. My normal account is much more boring with an even split QQQ/SPY
Saw an estimate for shares that have to be delivered for GME Calls that expired ITM Friday is 10-15 million.
If I download RobinHood, put 500-1000 into BB or PLTR not knowing a thing about investing, am I being dumb?
Then figure out why you think its a good investment so you know when to pull out. If you think their pivot to being a company with extremely secure operating systems that they can put in cars and general IOT will make them successful again, then go for it.
No matter what happens this week, at some point I’m buying a handful of YOLO GME calls. Like 0.0005% chance they pay and cost me $5, but I have to play this lottery at least once.