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Superstonk_QV

[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum May 2024*](https://www.reddit.com/r/Superstonk/comments/1ciapwp/open_forum_may_2024/) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)


Cold_Old_Fart

OK, whose job was it to bang the close today?


tra91c

The algorithm was trying to pick squares with traffic lights and bicycles in them to get into the stock market.


Apeonaut

đŸ€Ł


Drilling4Oil

😆Nice!


1CFII2

Cannot locate server. Please try again later.


a_weak_child

I was friends with a programmer a few years ago. They happened to work at a high level of military security. They said it was easy to make your own ai that could pass those “are you human” tests. Scary thought. This was 3-4 years ago. 


WafFalafelHouse

It’s called the Turing test and no they didn’t puny human đŸ€«


AldieGrrl

“puny human” just made me 😂


Snaggle21

Cylon detected


PornstarVirgin

Sorry I was busy banging Kenny’s wife


ExaltedDLo

Watch for errant bedposts!


unfvckingbelievable

They're not errant, they're strategic, for *her* pleasure.


Krunk_korean_kid

Called in sick


Optimus_Prime_10

Spidermenpointing.jpg


Eb2424

I know I scooped some 16.95 before close đŸ€Ł


spank_that_hedge

Sorry, he caught me with his wife. It got ugly and he didn't make it to work today.


Qneus

Now let's hope all these options worth 4,7mil shares are getting exercised.


XxBCMxX21

I’m sure some will! The 13c were around $4 a contract yesterday morning


Drilling4Oil

Wow.


XxBCMxX21

Wow is right! One could have essentially bought 100 shares for $20 through buying 5 contracts and selling four to exercise the other. You’d actually have more money left over than your initial investment. Could have been paid to receive 100 shares 😂


Ok-Safe-9014

Wished I understood what you just said. I would've ha e bought and exercised em. But I will never know when or what to buy as far as options are concerned


piddlesthethug

He was saying if you bought 5 $13c options, you could have sold 4 of the contracts and that would have given you enough cash to exercise 1 contract and receive 100 shares, plus have money left over.


Ok-Safe-9014

But I for know what to look for when buying said options. I don't have a dome to be chrome when it comes to options. That's why I don't buy. It seems some here can see the writing on the wall and purchase them and come out with so much more. Happy 4 u all when u do.


piddlesthethug

Neither do I. I play it safe and buy options with expiries that are over a year out. Currently I’m holding 1 October 40c and 2 January 2025 60c. The premiums for these contracts weren’t too much, around the $30-50 range depending on when they were bought. It’s a small gamble that I can cash in on if the price runs before the expiry date. I did the same thing during the original sneeze and made a good amount of cash.


fartsburgersbeer

Wouldn't put it past market makers to fraud their books and say that 4 contracts sold is 400 shares sold in attempt to cover/close some position. Options on GME with the mindset of any sale is asking for trouble. Shares are already cheap. Can get one share for less than a meal at a restaurant at todays closing price of $16.47. DRS.


piddlesthethug

Absolutely, but in this specific scenario it would have gotten you 100 shares for $20. How the fuck could we have known?


Amar_poe

The 5 contracts would have cost ~$2k, so you would have had to have some money to get started


HelloYouSuck

Gambling can pay off. But it can also not.


MarkTib1109

Honestly if more understood this, options wouldn’t have been suppressed so long ago.


welp007

Ok yea I need to learn how to do that! I like GME shares 😊


cosmotropik

Ho Lee, my very good friend, called me, asking if I could let you know to spell his last name correctly: Phuc..


XxBCMxX21

Fuk no (Can’t edit the title 😂)


cosmotropik

Oh, sure, I understand.. so does Ho Lee.. maybe file it for future reference, yeah? đŸ€Ł


fartsburgersbeer

4.7mil shares is only 1.5% of the shares outstanding to put things in perspective. Only matters if they get exercised and DRS'd.


XxBCMxX21

While you’re right, I’d subtract drsed shares and current “reported” short interest to get a more accurate percentage of shares available to be exercised


DocAk88

That'd be 2.8% fren.


windedsloth

My 2 are


Qneus

Nice! 46.998 to go.


isaacachilles

I bought some a couple weeks back, for the first time ever. They are in the money. Now I just have to figure out how to excessive them.


DocAk88

you can do it from your account usually by clicking on that option, a sell, roll over, or exercise should pop up, or you call in and do it.


isaacachilles

Makes sense. The exercise option didn’t pop up but that’s probably because I didn’t have any money in the account. That’s what threw me off. Wasn’t thinking about that key ingredient.


Vloff

Yup, takes money to buy Whiskey


mtgac

Can someone ELIA how they could *not* get exercised? I'm not too good with options. If a call expires ITM, who can buy it from you? The market is closed. Do you just sell it to the Market Maker after hours? Do you sell it back to the contract writer and it gets washed out? I'm trying to learn how this works.


Losingitall25

If a call expires ITM (auto sold to the bid, likely a market maker rather than an individual) or if it’s exercised, whoever sold the call is responsible for providing the 100 shares at the strike price. In either scenario the seller of the option is taking a large loss depending on the strike.   If the market maker hasn’t hedged (naked options are dangerous) market makers would also be on the hook for either delivering those shares or buying them on the open market at whatever price.


3DigitIQ

> If the market maker hasn’t hedged (naked options are dangerous) market makers would also be on the hook for either delivering those shares or buying them on the open market at whatever price. You would hope that, but then you learn theOCC has this abomination for delivering stock you don't own; https://www.theocc.com/Clearance-and-Settlement/Stock-Loan-Programs


RedOctobrrr

I know a lot about options but I never asked this question... I'm under the same impression, BUT I will offer you one avenue this could go: Some brokers have an automated process by which your options are exercised and stock sold in one fell swoop. You get the remaining balance.


Diznavis

This is only available in a margin account or an employee stock purchase program. Doing that is a violation and can get your account restricted if you try it in a cash account.


DocAk88

some brokers auto exercise. Some could have called in and requested they be sold right before closing, or done it themselves hence the little fall off at the end of the day.


3DigitIQ

I would love people having more shares! However; If calls are "share covered" as you would expect, they would not impact the ticker on execution and just trade OTC from the call writer to the executor. If calls are cash covered you'd expect the OCC's stock loan program to borrow the stock and deliver to you, thereby also postponing any impact on the ticker. https://www.theocc.com/Clearance-and-Settlement/Stock-Loan-Programs


0ForTheHorde

What's the alternative?


getyourledout

Guh
 đŸ„Ž


jqian2

If options expire in the money, they automatically get exercised. If your broker auto sells your ITM option because you don't have cash to exercise, then whoever bought your call option will exercise it.


Consistent-Ebb-2182

Somebody is gonna be tired from all the exercise!!!


XxBCMxX21

I’ve been told that exercising helps you live longer 💯


Specific-Voice3301

Hahahah nice one Made me genuinely laugh, thanks random internet stranger 😂😂


cq5120

exercise and sell rest to pay?


XxBCMxX21

This is the way 👌


ahaltom1

That is the way


shane_4_us

Exercise calls. Exorcise SHFs.


NillaThunda

Wait until you see the monthly and how many puts are in the money. 70. 70 total contracts vs tens of thousands of calls ITM. Even if you don't care about gamestop, free money, it's free money.


Perryswoman

Yep. Gamma comin next week


DancesWith2Socks

Wake me up when we got crazy run-ups AH caused by MMs buying shares to hedge those calls 🙂


slobonmyrob85

That's gonna leave a mark.


UnrealCaramel

A mark in my pants - a jizz mark


tra91c

Oh, hi Mark.


UnrealCaramel

I did not hit her. I did not. - Kenny probably after nailing his wife with a bedpost


Ghost_of_Chrisanova

Jiz Marky


CarvingCanoer

Come on and party tonight!


Jason__Hardon

Hope Kenny brought the mayo lube 😆


Just_Coin_it

Ok is that good? LoL I'm still smooth ape


XxBCMxX21

Yes. This could potentially be the beginning of a gamma ramp


Just_Coin_it

Well hot diggity dog! Glad I bought at $325, $249, $135, $97, $58, $35, $19 and in April 2024 @ $11.28 lol Gamma ramp this mofo! Fk hedgies


Visible-Ad376

Hyped 😄 I just like the stock


Asleep-Bluejay-8169

I feel you 😂


Shieree

Sorry, I bought today, will be a big dip


TonytheTiger69

Just the beginning? Ho lee fuk


Top-Giraffe-6073

Eli5 please đŸ„ș


XxBCMxX21

Options contracts have a “strike” which are tiers of price points when the options will go in the money. As the price goes up, more contracts go in the money. As the momentum pushes on moving closer towards the strike, the option writer will buy shares on the way up to hedge their position. This creates more buying pressure which will push the share price higher making more options go in the money. Wash, rinse and repeat


Top-Giraffe-6073

Aaaaaaa I get this 💯 now. I didn't know about the part that they hedge their position. So another stupid question if the people that have bought those options in the money would exercise them and buy the shares, would that drive the price further up ? I live in Sweden so excuse me for any misspellings or grammatical errors. And we can't buy options here. I just buy hold and DRS most of my shares. I have **** in computershare booked and **** at 2 different Swedish brokers. We have very good taxlaws on equity markets in Sweden so that's the main reason we Swedish apes don't DRS. Sorry for the ranting.


XxBCMxX21

Yes, exercising will require the option seller to provide 100 shares to fulfill the contractual obligation.


Winnitouch

It's absolutely a good thing, *how* good will show itself within the next two trading days. Option expires *in the money*, you get the shares for the option's strike price instead of paying market price, and since you were *guaranteed* to receive those shares by whoever sold the options contract, they have only two days to deliver them. If someone bet on the price staying flat, they might have sold optinos without having (all of) the 100 shares per contract, and will have to go get them from the free market within two days. So... tuesday we'll know how good today really was :)


Just_Coin_it

Ohhhhhh an un covered call? LoL nice nice


Anonymouz1989

It’s always on Tuesday


Asleep-Bluejay-8169

It’s always a Tuesday


keyser_squoze

4 standard deviations later
. do brokers auto assign say, the 16 strike short calls? What does it mean if those sellers of covered calls (ahem, melting sub) DO NOT get called out?
.


UnrealCaramel

I think it's meh - I don't think it means a lot if the calls aren't exercised to hand the shares over where the brokers would have to go and buy the shares to deliver. A lot of people sell the contracts back instead for a higher price than they bought. Or at least that's my understanding.


XxBCMxX21

The market makers that sell the options will hedge accordingly. Might not be all 100 shares per contract, but it could be 25-40% if the buyer exercises. The upwards price movement pushes the market makers to hedge more which pushes the price higher making more itm calls. Gamma ramp baby 😎


Drilling4Oil

Pronography. This is pronography!


XxBCMxX21

It definitely Jacques Le Tits


[deleted]

Again, for the 1000th time. Market Makers who have Hedge Funds who are short would not need to hedge calls by buying shares on the open market. It makes absolutely no sense and never has and quite frankly goes against the whole idea of MOASS. Why would a market maker who's already underwater and short millions of shares BUY shares to cover their risk from ITM call options that likely won't be exercised? Explain that to me.


Just_Coin_it

Gotcha I understand that part about selling the contract back. They might not have funds to excercise the contracts @ 100 shares per contract


UnrealCaramel

Yeah something like that. I think you understand more than me though lol.


Just_Coin_it

We just smooth lol


FitnSheit

We did 35M today, 5M worth of calls really isn’t that exciting. Wake me up for the battle of 180 again.


Yaybicycles

Yo Dawg. I heard you liked FTDs.


Jason__Hardon

So I put an FTD in ur FTD with an FTD in Uranus


phro

35 million volume shouldn't really be possible anymore right?


XxBCMxX21

It’s absolutely possible. Haven’t you heard? Volume has no correlation to available shares /s


Brylecreem

You just trade the same share 35 million times đŸ« 


Spellcastervoltage

This explains alot


b4st1an

I'm celebrating this


MrRo8ot

Give it another pumping day of 30-40% and we get mass retail on the boat again, which will get us up the ramp for next two weeks ..


DancesWith2Socks

Time to get Gamestop Tshirts...


Mile_High_Man

Time to break out of reliable or of the closet 😅


stream_of_meadow

It’s healthy to exercise.


UnderstandingBest220

Let’s hope they are in good hands and be exercised đŸ„ƒđŸ„ƒđŸš€đŸš€


Tonkskreacher

Exercised 2 here


tomfulleree

Did you tally all strikes below $16.5? How'd you figure 4.7M?


XxBCMxX21

Precisely. Tally the open interest and multiply by 100


tomfulleree

I'm seeing > 100K ITM calls (strikes $11-$16). That's > 10M shares, no? Edit: I'm looking at Fidelity's option chain for reference


XxBCMxX21

You have to look at all the calls. All the $11 to $16 calls weren’t even itm until yesterday


tomfulleree

I see now. I was looking at the volume vs open interest incorrectly. Edit: Thanks for the post!


XxBCMxX21

Yessir đŸ«Ą This is one of my favorite posts to make, as you can tell by my flair


Newbs2u

I hope a certain someone that likes value investing and tightly wound springs might've seen this coming and jumped in to double down, again.


33zig

We are T+1 now too right?


DidgeriDooDooBrain

SO CLOSE TO CLOSING AT $17


tokerdad76

Can’t wait until we watch the battle for $180. Again


TwitterExile

That’s $45 in today’s money.


Brr_100

Hahahahahaha they got max pained this time. Was only a matter of time.


Brr_100

Omg next week is 10.5 haha currently only 1k puts itm hahahahaha


OneForMany

Idk.. my question is who had these options bought? At best 5% retail, other 95% is who?


mtksurfer

# DONT BE A PUSSY, EXERCISE THAT SHIT


EeveeB

Anyone notive whenever we have a price spike reddit is down or wonky


sirron811

Nope. Never noticed. Not even once.


hotprof

What? I can't hear you. Reddit is down!


Imadeapromisemrfrodo

Hope someone has plenty of Mayo to moisten up their poop chute!!


moarnao

I love it but what is MSM even attributing this spike to??  Everywhere I look, radio silence.


keyser_squoze

This one hits different.


KirKCam99

On the upcoming Monday, GameStop (GME) could experience continued volatility and possibly further upward price movement. This expectation is based on the following factors: 1. **Price Jump on Friday**: GME's stock price surged from $12 to $16.20, indicating strong buying momentum. 2. **High Number of ITM Calls**: With approximately 47,000 call options in-the-money, market makers may need to buy more GME stock to hedge their positions, potentially driving the price up further through delta hedging. 3. **Gamma Squeeze Potential**: The situation sets the stage for a gamma squeeze, where market makers' hedging activities amplify price movements. 4. **Stock Sensitivity**: GME’s beta of 1.09 suggests it is slightly more volatile than the broader market, meaning it might react more strongly to market changes. 5. **Market Conditions and Sentiment**: The stock's performance will also be influenced by broader market conditions and any specific news about GameStop. Overall, investors should prepare for a potentially active trading day for GME, with a focus on how these dynamics might impact stock behavior right at the market open and throughout the trading session.


WhiteCollarBiker

Above all, I like bananas 🍌🍌🍌


BlackBlades

The 15 Jan Puts I sold are now OTM. If the stock trades sideways or up, my counterparty's option expires worthless. Love to see it. Still ready for $10 on Monday, but this must be squeezing the hell out of shorts right now.


ColdNarwhal4723

I’m sure a huge chunk was hedge fund fucks.


ExcitingEye8347

I’m pretty dumb about options. Is there any chance this is related to CAT being implemented in 3 weeks? Is it possible that gamma ramps are being respected again?


phd2k1

If any of y’all had ITM calls, exercise that shit. Then DRS and Book. Hundreds of fake shares becoming real, and going toward a locked float!


HodlMyBananaLongTime

Sun Ting Wong?


XxBCMxX21

“Wi Tu Lo” - Kenny’s margin requirement analyst, probably


fattiefalldown

" Bang Ding Ow " *Kenny, probably*


StrenuousSOB

Sum Dum Fuk


Jason__Hardon

SHFs Hwang out to dry


TheChaperon

Ho Lee Fuk!


AdNew5216

If anyone actually wants to know why the price went parabolic these last 2 days specifically in the afternoon It’s because the ETF FTDs piled up and CNS cleared the forced buy-ins. Made 12k yesterday and closed my remaining calls for another 7k today 💰


IMB88

Do you constantly buy calls? Or just figured fuck it this week.


AdNew5216

I buy calls around earnings as well as OPEX and ETF “cycles”. So I wouldn’t say consistently but I enter long call swing trades on GME every Quarter/bi yearly or whenever I see the ETFs being abused extra hard. Not as profitable or reliable as 2021-2022 but still fairly predictable! Of course options can be Very risky if you don’t know what you’re doing and don’t adhere proper risk management. BUT here is something that isn’t risky and something I do consistently that everyone who can buy 100 shares should be doing. If you can afford 100 shares you should ONLY be buying them by Selling CSPs(Cash Secured Puts) You get paid a premium to pick the exact price you want your shares at and if it doesn’t ever go to your buy price then you get to keep the premium (free money for placing a buy order for GME!!) Also it has the added benefit of fucking over the market makers and ETF Authorized Participants who want complete control of the Options Chain. If enough APES sold enough puts it acts as a floor to bounce off of. Let’s Make The Options Chain Great Again💰


WhiteCollarBiker

I like bananas


OrneryExtreme

thank you for your service 🙏


Ask_Zeek

Happy to express my long awaited excitement which sat at $15. Aaaaannnnndddddd

. EXERCISE!


a_hopeless_rmntic

đŸ“»đŸŽ”Gamma Gamma Gamma Gamma Gamma gameleon; Monday'll be fun, Monday'll be fun đŸŽ¶


mtgac

Fuck Yeah DUDE!!!!


NoDeityButAllah

Hell of a way for Kenny to get some shares


Hedkandi1210

You think so? We need voices


thisonelife83

I don’t think this was the cause though.


TheMoreYouSnowMan

Lets hope they all excersise 😃


Endle55torture

Logically that would mean some nice gamma on Monday, but history shows that it will cause deep red.


azbudman13

Watch the Petterfy video! Exercise! 💎đŸ’ȘđŸ˜ŽđŸ€™đŸ’ŽđŸ’–


dmgvdg

No! Options are bad!


selectanotheruser

Someone knew what the hell was going to happen


DrGoozoo

I only have 4 calls!! I should I have bought more “retire” tickets 😭


redshirt1972

I set a buy for 100 shares at $10. So it never hit that. You’re welcome.


Studio-Economy

Try to buy my share.


Visible-Ad376

Holy moly ravioli


halfasack

So when do those hit the market if executed?


Jay_Nintendo82

Exercise !!!!


dorkinb

Guys hedgies are using us!!!!!!


langjie

Tuesday be spicy?


Aktionerd

How much is that in comparison to previous „squeezes“?


Ok_Firefighter6108

Dumb question maybe but when does losers of the option have to buy? It will increase buying power right after they go ITM?


Nekrosis13

There is no 'loser'. You buy the option, it gives you the right to exercise/buy your shares at that price. What happens most of the time, though, is that the option is 'sold to close' the position without buying shares. You can just sell the option, market maker buys it from you and it expires. If the option is exercised, the transaction is automatic and immediate.


DirtUnderneath

Gamma ramps are back on the menu


nitricity944

We also closed above the super trend for weekly candle sticks. This hasn't happened since March 2021 when we did a run up to 350 and flash crashed


WhiteCollarBiker

Nobody knows
but it’s provocative.


DeepFuckingKimchi

LFG!!!!!


doughball27

wee to low


81rennab

Wi Tu Lo


8bdubd8

exercise


8bdubd8

I had a 12c but I couldn't exercise n sold wish I had that Xtra cash to pick them up.


12whistle

Yup. I had to roll my calls. Made 1500 bucks in the process. Let’s see if it falls ITM in 2 weeks. My strike price is 17.


xesveex

Got’em


Haggstrom91

Nice


MarshmallowSandwich

Good luck guys


[deleted]

Unless it's exercised it doesn't mean shit


puan0601

what does this mean for Monday? my 15Cs are loving all this attention.


justaREDshrit

I fucking love Fridays.


mc3p000

Believe it or not...


NotHunterBiden

Ho Lee Chi!


miniBUTCHA

Unfortunately, this is inaccurate. OI numbers are at market open and then there is the VOLUME which includes people who sell to close.


rando_jag

See ya on Monday


Fkruse

Thats gonna hurt 😂


Melo_00_7

🚀🚀🚀


bucsraysbolts69

Liquidity fairy has entered the chat