Still think TITNC3: Return of the Iceberg was peak

have you seen our telegram chat? this is nothing!

at least doge is related.

 

https://www.youtube.com/watch?v=Ld0l37eFpEU

 

What does this mean? (This is all over my head. I just know everyone was happy about it closing at $328).

 

All the $320's...Like 40,000 I THINK that as the number...
https://www.youtube.com/watch?v=27evSVwjzzI

 

So.... we're not good? Or they're not good? I'm confused with my limited understanding of everything

 

It just means less shares had to transfer after hours...It was more beneficial if it happened but in the overall scheme it's only a psychological negative

 

Holy shit that was a long read. Kudos to that dude for typing that up while he was supposed to be working. lol

So the volume action he mentions looks great for bulls. Here's the chart.



You can clearly see the drop-off. Less shares being traded even with short ladders occurring. The thing is that RH and others have limited stock purchases at that exact same time. So, is that volume really down because the long whales are getting ready to throw the choke hold or is that volume down because 5M retards can only buy one share. Not even fractional shares. It's gotta be a whole share now.

What happens when those kids are let off their chain next week? Demand goes back up. Price goes back up. More shares are taken off market at higher prices. Shorts start to cover with the remaining shares. Now they can't even short ladder because it's pointless. It's pretty obvious you ain't shaking these monkey's from the tree.

When this happens is when the squeeze begins. It''s also when the markets will REALLY take a pounding. Today and yesterday where just warm-ups for the true sell-off. It's gonna be epic.

 

Soooo...June $60 XRT puts...
https://finance.yahoo.com/news/gamestop-drama-just-cost-one-172057790.html
GameStop Drama Hammers Retail ETF as Nearly 80% of Assets Exit

Katherine Greifeld
Fri, January 29, 2021, 12:20 PM·3 min read

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GameStop Drama Hammers Retail ETF as Nearly 80% of Assets Exit

(Bloomberg) -- As the GameStop Corp. saga continues to play out in markets, the drama has now cost what was an $800 million exchange-traded fund nearly 80% of its assets.

Investors have pulled roughly $700 million from the SPDR S&P Retail ETF (ticker XRT) this week, draining total assets to just $164 million. The outflows come after GameStop’s surge swelled its weighting in XRT to 20% -- given that the fund tracks an equal-weighted index, the video game retailer’s weighting should be closer to 1%.

Theories abound as to what motivated the outflows, given that they happened alongside a nearly 20% rally in XRT this week alone. One possibility is that because XRT redemptions are delivered in-kind -- meaning that its shares are exchanged for the underlying stocks in the fund --investors are ditching the ETF to get their hands on hard-to-borrow GameStop shares. Others posit that with such a heavy weighting to the highly volatile GameStop, some holders may be choosing to take profit.

Bloomberg Intelligence analysts support the first theory. “GameStop’s surging borrow rates signal high demand for the shares, with short-selling hedge funds potentially seeking to close or adjust positions,” wrote BI analysts James Seyffart and Eric Balchunas in a report Friday. “The in-kind redemption was likely an attempt by investors to get their hands on scarce GameStop shares.”

The cost to borrow GameStop shares climbed as high to 200% this week, and was roughly 50% on Friday, according to data from financial analytics firm S3 Partners.

That’s compounded by the fact that there aren’t many GameStop shares out there. The company has a relatively small float, with just 69.7 million shares outstanding. And with over 100% of the total lent to bears betting against it (shares can be borrowed more than once), that’s created a hunt for shares, according to BI.

But State Street’s Matt Bartolini said that there are likely many motivations at work, rather than the desire for GameStop shares. One consideration is that the hefty GameStop weighting has increased the overall volatility of XRT, leading investors to look for other vehicles for exposure to the retail sector.

“They are more risk-averse investors that are not looking to speculate, who are likely playing some sort of trend that started the year, like the rebound of the economy,” Bartolini, head of SPDR Americas Research, said in a phone interview. “As of result of that price appreciation, that investment thesis has now been distorted.”

Others reckon that the outflows could simply be investors taking profits after an incredible run-up. XRT has gained about 40% in January, on track for its best month ever.

“Anyone who was long XRT BEFORE all this started had a reason. Whatever that reason, it WASN’T to gain from a mechanical pop in a meme stock that happened to be inside,” Dave Nadig, chief investment officer at data provider ETF Trends, wrote in an email. “So it’s pure 100% profit taking.”

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

 

JUST. HOLD. IT.

ALL you need to know....

For now.

 

Who am I kidding...March 19?
XRT210319P00060000 2021-01-29 4:10PM EST 60.00 1.15 1.36 1.65 -0.35 -23.33% 814 36,186 91.21%

 

Annndd...Just tried to explain this to the MRS...
"But I thought you were going to be done by tonight"

Done?

 

I put in Limit orders from $280 to $260 for giggles but it never got close.

AFTER 3pm expecting a 2nd push

 

Is the FINTEL DAILY short volume?
https://fintel.io/ss/us/gme
Security GME / GameStop Corp. (36467W109)
LEI 549300505KLOET039L77
Latest Market Date 2021-01-29
Short Volume 8,814,229
Market Volume 50,445,800
Short Volume Ratio 17%

As in there were 8.8M shares sold short TODAY?

 

I mean, eventually that’ll play

 

Closed after hours at $313 so all the $310 calls are in the money...meaning they’re above the strike price. A good thing for the people who own those calls

 

I don't own any GME at the moment (RH kind of ruined that anyway). But I am holding on AMC

 

I'm still trying to figure out how calls work, but I do know that what you just said means good things!

It's a lot to wrap my brain around when I thought I had a basic understanding of how the market worked and now it has been mostly (not completely) blown apart.

 

My financial advisor and my fiancé both sat in on my explanation after work.

 

It's a contract between someone who theoretically SHOULD have 100 shares of a stock. You pay them a premium for the right to buy the stock off them at given price by or on the expiration day.
Let's say it's Jan 13 and you've been sniffing around gamestop and you see it pop and then @kairo comes bombing in with "It's on bitches" so you say wtf and you pay someone
$700 for the right to buy 100 shares of Gamestop off them on or by 3/19/2021 for $40. That means if by that date Gamestop is over $47 a share that contract is profitable for you...SO if gamestop is $50 a share, you have the right to buy that guys shares for $40 a share (contracts are 100 shares) so you make the difference between the Stock price - (Strike price + Premium).
Now here's where it's interesting...Once that contract is in the money (ITM) (THe GME Stock price is over $40) for every dollar $GME goes up your contract goes up $100...So you can SELL to CLose that contract to someone else for the NEW value....
SO back to you and @kairo...
You say wtf...I'm in and do this


That works out to the the right to buy 300 shares @$40 a Share for $2100....
So that's a lot of profit when a stock goes over $300

Those are worth $26,405 each today...But I exercised further options after selling 2 of these and rolling up...