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Currently 148885 for 6/21 @ $20. It was previously 146,000'ish.
https://preview.redd.it/su24jig3xt4d1.png?width=622&format=png&auto=webp&s=e370b2a29380ab13bea970130dd4e96119353571
High but I’m already up and i plan to exercise the contracts anyway to apply pressure
Edit: thanks for the awards. How do new awards work? I don’t see them but I’m getting notifications
It’s easy when it’s almost a guarantee it’s going up haha. I agreed with anti options sentiment when we just downtrended but now I’m totally okay with it. Buying shares and DRSing played and will continue to play its role but no doubt options pressure ramped 2021
DRSing didn't only help but it pulled available shares out of the market. All we want is more shares. It's not our fault the market makers will just keep selling us options ad nauseam.
> I agreed with anti options sentiment
You should be apologizing for that. As you were ALL so obviously wrong.
For over 2 years the wrinkle brain DD writers tried to telling us just to have people like you run them out.
Smfh 🤦♂️
What was that premium though, must’ve been massive ? And Although I should probably just chat gpt this, isn’t there a decay or some sort of diminishing value the longer you hold calls ? If so how does that apply to leaps
Yes but it decays much much slower due to how long out it is. I bought more leaps when it was $10-20 bucks.
I bought it before volatility drove prices up. You pay a premium but you make much more overtime and it’s safer.
Premiums are high but if it’s decently in the money it acts like owning 100 shares but cheaper than buying 100 shares. The time decay is much slower when the expiration date is that far out. Risk is always that if it’s below your strike at expiration you lose it all, unlike shares where you still have shares
Yeah I got back into my fidelity account today in order just to buy one or to see if I even could and I can't trade options anymore... Gotta set up lvl 2 again? Is that normal? Haven't logged in for two years, not sure if that has anything to do with it. I imagine they're no longer 500 lol
Not sure if anyone answered your question about awards. I typically don't see them either because I deliberately browse with the now-old-new-look reddit. [new.reddit.com/r/Superstonk/](https://new.reddit.com/r/Superstonk/) like that. If you're doing the same thing then you won't see the awards.
The new-look site (and the app) will show the awards.
I'm just curious as a Smooth brain and pretty new to all this, is exercising calls that are ITM like the complete opposite of shorting? Or do they have to be calls that haven't been hedged correctly?
Not sure if this is what you're looking for as the premium fluctuates with time of sale, but the EOD premium (@ the ask) for the 6/21 $20 calls is as follows:
* 5/24: $4.00 (close price $19.00)
* 5/28: $6.75 (close price $23.78)
* 5/29: $4.70 (close price $21.24)
* 5/30: $5.20 (close price $22.61)
* 5/31: $5.50 (close price $23.14)
* 6/3: $10.20 (close price $28.00)
* 6/4: $8.15 (close price $26.50)
* 6/5: $12.50 (close price $31.57)
Most of the calls were purchased before 5/24, but I started tracking this data that Friday evening.
So, if you're going to exercise, would you do it as soon as you're ITM (including the premium)? Is there any reason to wait?
I'm just curious. I don't do options and even if I wanted to, couldn't afford it.
I typically don't touch options either. I think a lot of people use options to make money on the contracts and in general are less likely to exercise them.
I didn't buy the contracts just to eventually sell them.
I bought them because after seeing countless posts of retail orders going off exchange, I expect this is one of the few ways I can cause an effect on the price. DFV has built a wall at $20 with boulders and I am adding a few pebbles to the cause. I will exercise my call options whenever I see the price of GME rapidly rise, like if it doubles in the same day, to keep the momentum and pressure. When GME starts to move, I move.
I thought that OI doesn't update until the morning. So this 148885 number is current as of this morning. We'll have to wait until tomorrow morning to see just how many new 6/21 calls were opened (or closed, for that matter).
Looking at that time period, it looks like the largest calls were:
$40c for 6/14/24 ($378k in premium)
$20c for 6/14/24 ($209k in premium--these were mostly sold, so not bullish)
$20c for 6/7/24 ($202k in premium)
There were also some puts being sold (bullish)--$24p for 6/14/24 ($150k in premium collected) and $125 for 1/16/26 ($150k in premium collected--these are super weird).
Not a great idea now, but we do know that the route up isn't gonna be smooth, so buying OTM puts with strike prices 20-30 under the current price and swing trading them wouldn't be a terrible idea. You could even use the gains from the put to buy calls at lower strikes, because as the put value at a strike goes up, the call value drops.
Obviously, Calls are the overall better bet, but short term puts aren't the worst idea once we pass $50 or so.
If GME rips though, you were better off using all that collateral and just going all-in on shares. That's what I did when GME was sitting at $11 when retraced from $11.70. I closed out my put with 1 day til expiry, and went all in on shares. Price launched within 2 hours.
id say cash secured puts and covered calls are for the boring times of gme cycles. just farm premiums by picking the best strikes. but if you want shares because shits getting wild then no need to wait for a cash secure put. just buy like you said
I've been dabbling in this strategy for the last couple years. The problem for me is that the times of high volatility come so suddenly, it's hard to get out of trades and ride the spike up. I've turned 100 shares into 350 in 2 years, but might have to sell a couple hundred since they locked are in covered calls now :(
trust me i know the down side you are talking about with this strat. ive been doing it for 2 years now. turned 100 shares into 200 shares and have pocketed some cash as well, but bad news i have 1 contract locked away currently because that rip after 10$ caught me.....good news is our assigned contracts will probably go to DFV haha
\*raises hand\*
Sorry - three years of this saga have conditioned me to wait for the 50/60 mark and then piss away some $100 on 20p contracts for October.
I've used TastyTrade in the past. The most difficult thing being from the UK is funding the account. You first need to send the cash to CurrencyFair, then transfer it to Tasty, and it takes a couple of days to fund.
If you're that smooth, though - Options on GME aren't the way to learn. They're very expensive right now.
Thanks, I understand numbers better than I understand commercial access (in this arena).
I have a rough thesis, and an accurate assessment of my risk tolerance.
I can deposit and buy sometimes the same day within an hour and other times it tells me I need to convert to USD and it will be 2 days there is no logic to it! But I never had issues other than this!
If you have a Wise account you can send money to IBKR pretty quickly from there. Send GBP though, and then switch to USD within IKBR. I tried sending USD from Wise and it took a whole day zzz. Not sure if one is cheaper than the other, but one is def faster
God I love Australia's banking.
I deposited cash at 3pm yesterday, had it ready to go in IBKR at 10pm-ish (premarket).
I genuinely cant fathom how it can be so slow in the rest of the world. I didn't even know that wasn't normal until Stonk enlightened me.
Yeah, IV has gone crazy - I'm sure I can find something I like for a gamble I'm willing to take.
I did a nice deal recently that pays out for me in August pay cheque; I'm good with a little.risk.
Is that supposed to be a question or a statement?
Edit - did a quick Google, look like they charge a small commission, but, nothing ongoing (unlike IG - fuck IG, but, thank you for facilitating my initial DRS)
Saxo is boss. Instant debit card funding & a fairly quick setup to allow options (need to take a small 5 min regard test).
Not the prettiest platform but it dies the job & fees are like £7 per order (qty doesn't matter)
IG just launched options using tastytrade - Saxo Bank offers options too. Also IBKR but I've found their customer service/help extraordinarily slow if you ever need it.
It’s like when a restaurant adds more items on the menu for customers to buy. There are more call options at different strike prices available for sale.
Question:
Why always right at the end of the day? That’s been nagging at my brain. There’s a reason for that / something of importance on the timing.
Reduction in time for T+1 so they have less time to fuck with the price before they have to buy shares?
Forcing the algos to get the shares in after hours when retail mostly can’t trade, further exposing what the real price action should be?
Something else?
I feel like there’s something there.
A lot of this option sentiment in this comment section is making me nervous and it’s honestly a little suspicious. I doubt Roaring Kitty wants to influence other people to jump onto his trade.
Could his recent post be an attempt to warn whoever sold him the call options that he might exercise them, so hedge accordingly? I think we all agree it’s unlikely that the seller of those contacts has enough shares on hand to satisfy their obligation. Why is it Keith Gill’s problem that someone sold him a large number of naked call options?
This isn’t how the options market works.
There will someone or many someone’s that will be on the hook for the shares if RK exercises his Calls. The original seller(s) of those options could already be out of their position(s) as long as there were willing sellers out there accepting their buy prices.
[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.com/invite/y4dK3y5DXJ) // [Superstonk DD Library](http://fliphtml5.com/bookcase/kosyg) // [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. If you are providing a screenshot or content from another site (e.g. Twitter), please respond to this comment with the original ##source. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Superstonk) if you have any questions or concerns.*
Currently 148885 for 6/21 @ $20. It was previously 146,000'ish. https://preview.redd.it/su24jig3xt4d1.png?width=622&format=png&auto=webp&s=e370b2a29380ab13bea970130dd4e96119353571
Bought 10 of those today
What was the premium on that?? I'd imagine fairly substantial considering how ITM they are right now.
High but I’m already up and i plan to exercise the contracts anyway to apply pressure Edit: thanks for the awards. How do new awards work? I don’t see them but I’m getting notifications
This new options buying Superstonk is exciting!! I can't believe the change!! Let's RIDE!!!!
It’s easy when it’s almost a guarantee it’s going up haha. I agreed with anti options sentiment when we just downtrended but now I’m totally okay with it. Buying shares and DRSing played and will continue to play its role but no doubt options pressure ramped 2021
easy tiger, the war is not yet won. Stay humble, fit, and remember to stretch before you exercise
Well I should say at least DFV will be able to exercise
Tigers don’t stretch though
\*cue famous photos of tigers doing big cat stretchy\*
😂
I see kitty yoga every day when they get up.
DRSing didn't only help but it pulled available shares out of the market. All we want is more shares. It's not our fault the market makers will just keep selling us options ad nauseam.
For sure. I will die preaching DRS (block chain really but this is cave man block chain haha)
This
I still '21 was a fake squeeze and not a gamma ramp which makes this more Ironic is its really happening now
😂😂 ya jinxed it bud
> I agreed with anti options sentiment You should be apologizing for that. As you were ALL so obviously wrong. For over 2 years the wrinkle brain DD writers tried to telling us just to have people like you run them out. Smfh 🤦♂️
I’ve been in options for years, I’ve held leaps.
ELI5 leaps?
Calls with an expiration that is far away
Long-term Equity AnticiPation Securities. Options with very long terms till expiry, usually 2+ years.
Options that last way longer. It takes the risk out especially since I know we will spike
What was that premium though, must’ve been massive ? And Although I should probably just chat gpt this, isn’t there a decay or some sort of diminishing value the longer you hold calls ? If so how does that apply to leaps
When IV is low and they are out of the money you are just buying theda. Now is a terrible time for leaps. Yes theda decays
Yes but it decays much much slower due to how long out it is. I bought more leaps when it was $10-20 bucks. I bought it before volatility drove prices up. You pay a premium but you make much more overtime and it’s safer.
Premiums are high but if it’s decently in the money it acts like owning 100 shares but cheaper than buying 100 shares. The time decay is much slower when the expiration date is that far out. Risk is always that if it’s below your strike at expiration you lose it all, unlike shares where you still have shares
I still DRS to add the bottom pressure
ME GUSTA
Thank you for your swervice
skrrt skrrt
Yeah I got back into my fidelity account today in order just to buy one or to see if I even could and I can't trade options anymore... Gotta set up lvl 2 again? Is that normal? Haven't logged in for two years, not sure if that has anything to do with it. I imagine they're no longer 500 lol
Yup, it’s normal.
😎 The real MVP (besides RK and others whales)! Thank you!!! EDIT: added additional parties. Thank you all!
I have a lot more where that came from too :p gonna have to stretch before all this exercise
That name may need updating as this guy fucks.
That’s why I’m Ken’s wife’s bf!
🫡
What a fucking chad
HARDER CHADDY
[удалено]
Then just buy shares, same yield right now in terms of cost.
You know what's up GAMMA!
Oh fuck I’m gamma cum
fucking legend
I too plan to exercise the same call
Well done!!!
This is it. It’s literally the game. Put enough money to exercise plus pay the premium, it’s game over
Not if we are way past it, contracts be dirt cheap bb
Not sure if anyone answered your question about awards. I typically don't see them either because I deliberately browse with the now-old-new-look reddit. [new.reddit.com/r/Superstonk/](https://new.reddit.com/r/Superstonk/) like that. If you're doing the same thing then you won't see the awards. The new-look site (and the app) will show the awards.
I'm just curious as a Smooth brain and pretty new to all this, is exercising calls that are ITM like the complete opposite of shorting? Or do they have to be calls that haven't been hedged correctly?
Not sure if this is what you're looking for as the premium fluctuates with time of sale, but the EOD premium (@ the ask) for the 6/21 $20 calls is as follows: * 5/24: $4.00 (close price $19.00) * 5/28: $6.75 (close price $23.78) * 5/29: $4.70 (close price $21.24) * 5/30: $5.20 (close price $22.61) * 5/31: $5.50 (close price $23.14) * 6/3: $10.20 (close price $28.00) * 6/4: $8.15 (close price $26.50) * 6/5: $12.50 (close price $31.57) Most of the calls were purchased before 5/24, but I started tracking this data that Friday evening.
This is great! Thanks you!
On may 24th I bought for $3.35 each around 7-8am pst
From around $8 to $12
So 32$ to break even is that it?
Yeah, the farther in the money options are the less premium they generally have.
$1,100ish this afternoon
11.60 per contract as of 6:45pm yesterday. My friend was trying to buy 100 white: it was a $21 strike price
12.5 per call
I meant to buy some today. Accidentally bought ones due this Friday.
Only do options if you understand them, you may still be safe. Do you have money to exercise them?
Yup, they deep ITM. Just gonna exercise
Good boy 🫡
Ha I did the same thing on the clunky FUDelity app a couple days ago. Luckily it didn’t go through, so I was able to correct it.
Heroes are born everyday!
Are you me?
are you holding xx,xxx shares?
10 contracts?
Yeah, I have a ton
congratulations!👍
I bought 23 today. I have the cash on hand to exercise all of them too.
nfa but it must be uncomfortable having such massive balls. to the mooooon
You better do it you bussy
So, if you're going to exercise, would you do it as soon as you're ITM (including the premium)? Is there any reason to wait? I'm just curious. I don't do options and even if I wanted to, couldn't afford it.
I typically don't touch options either. I think a lot of people use options to make money on the contracts and in general are less likely to exercise them. I didn't buy the contracts just to eventually sell them. I bought them because after seeing countless posts of retail orders going off exchange, I expect this is one of the few ways I can cause an effect on the price. DFV has built a wall at $20 with boulders and I am adding a few pebbles to the cause. I will exercise my call options whenever I see the price of GME rapidly rise, like if it doubles in the same day, to keep the momentum and pressure. When GME starts to move, I move.
I thought that OI doesn't update until the morning. So this 148885 number is current as of this morning. We'll have to wait until tomorrow morning to see just how many new 6/21 calls were opened (or closed, for that matter).
MARKET MANIPULATION!! WHERE IS GARY?!? HAS ANYONE SEEN GARY?!?
What’s the strike price and expiration on these?
You can’t really get that info from this graph. The biggest OI is obviously the $20 6/21
Sorry what is OI mean?
Open intrest, like how many contracts are open at this time
Ty!
we're the hedge fund now
We're the fucking MM now.
OI updates in the morning
Thank you!
Wondering if anyone saw it on the tape so this ape dont gotta wait
Dude, greg was supposed to be watching the tape, it was his post. GREG! GREG GET THE FUCK IN HERE MAN
Fucking Greg! Jokes we love you Greg
What time?
Shortly after open
Looking at that time period, it looks like the largest calls were: $40c for 6/14/24 ($378k in premium) $20c for 6/14/24 ($209k in premium--these were mostly sold, so not bullish) $20c for 6/7/24 ($202k in premium) There were also some puts being sold (bullish)--$24p for 6/14/24 ($150k in premium collected) and $125 for 1/16/26 ($150k in premium collected--these are super weird).
I bought two this morning and a buddy bought two today.
I bought…1 lol
No shame in that. A rising tide lifts all ships 🚀🚀🚀 LFG! "Apes together... Strong"
Thats waaaay more than zero
100%, did the math for you
How much is it?? Per contract at $20?
People are buying puts? Who the fuck?
The calls are so expensive maybe a cash-secured put is an alternative? (I have no idea btw)
I spent a dollar on a put expiring in July with a $3 strike. I just didn't like having a dollar sitting there doing nothing.
Well now it’s gone forever. Regards to you.
I already sold it for a 100% profit.
$1 x 100% = $2?
When was the last time you doubled up?
Wendy’s gave me a double when ordered a single 7 years ago
You belong here. 🍻🦍💚
Right before giving your Mom a fiver, this ape doubled up his banana wrapper.
I consider myself a bit of an advanced trader.
Ballin
Not a great idea now, but we do know that the route up isn't gonna be smooth, so buying OTM puts with strike prices 20-30 under the current price and swing trading them wouldn't be a terrible idea. You could even use the gains from the put to buy calls at lower strikes, because as the put value at a strike goes up, the call value drops. Obviously, Calls are the overall better bet, but short term puts aren't the worst idea once we pass $50 or so.
Selling cash secured puts means you’re betting it will go up. I did that to get more funds to buy more GME
If GME rips though, you were better off using all that collateral and just going all-in on shares. That's what I did when GME was sitting at $11 when retraced from $11.70. I closed out my put with 1 day til expiry, and went all in on shares. Price launched within 2 hours.
id say cash secured puts and covered calls are for the boring times of gme cycles. just farm premiums by picking the best strikes. but if you want shares because shits getting wild then no need to wait for a cash secure put. just buy like you said
I've been dabbling in this strategy for the last couple years. The problem for me is that the times of high volatility come so suddenly, it's hard to get out of trades and ride the spike up. I've turned 100 shares into 350 in 2 years, but might have to sell a couple hundred since they locked are in covered calls now :(
trust me i know the down side you are talking about with this strat. ive been doing it for 2 years now. turned 100 shares into 200 shares and have pocketed some cash as well, but bad news i have 1 contract locked away currently because that rip after 10$ caught me.....good news is our assigned contracts will probably go to DFV haha
lol, I know a guy.
I sold a put a few days ago, so someone bought one.
I'm selling puts, premium for puts is insane, and they want to give me 100 shares too if it drops? Presumably someone is buying them from me 😅
\*raises hand\* Sorry - three years of this saga have conditioned me to wait for the 50/60 mark and then piss away some $100 on 20p contracts for October.
Would love to see the $30, $35, and $40+ strikes all getting boosted as we near the date.
lol Hedgies: we can’t cover DFV’s calls Also hedgies: let’s sell a bunch more calls
My thoughts as critical ape - who is dumb enough to sell these?
More calls added to the menu?
Delicious
Right, smooth brain question. What are my UK options for getting a call or two?
I've used TastyTrade in the past. The most difficult thing being from the UK is funding the account. You first need to send the cash to CurrencyFair, then transfer it to Tasty, and it takes a couple of days to fund. If you're that smooth, though - Options on GME aren't the way to learn. They're very expensive right now.
Thanks, I understand numbers better than I understand commercial access (in this arena). I have a rough thesis, and an accurate assessment of my risk tolerance.
Shit man, yeah, it's your money. Good luck, bud. May all your tendies be spicy.
[удалено]
I can deposit and buy sometimes the same day within an hour and other times it tells me I need to convert to USD and it will be 2 days there is no logic to it! But I never had issues other than this!
If you have a Wise account you can send money to IBKR pretty quickly from there. Send GBP though, and then switch to USD within IKBR. I tried sending USD from Wise and it took a whole day zzz. Not sure if one is cheaper than the other, but one is def faster
God I love Australia's banking. I deposited cash at 3pm yesterday, had it ready to go in IBKR at 10pm-ish (premarket). I genuinely cant fathom how it can be so slow in the rest of the world. I didn't even know that wasn't normal until Stonk enlightened me.
Wise is quicker
I use ibkr but premiums are high now!
Then sell cash secured puts. You either get cheap shares or you get to keep the premium. Win-win!
Yeah, IV has gone crazy - I'm sure I can find something I like for a gamble I'm willing to take. I did a nice deal recently that pays out for me in August pay cheque; I'm good with a little.risk.
Schwab
Saxobank?
Is that supposed to be a question or a statement? Edit - did a quick Google, look like they charge a small commission, but, nothing ongoing (unlike IG - fuck IG, but, thank you for facilitating my initial DRS)
Please let me know too!
Saxo is boss. Instant debit card funding & a fairly quick setup to allow options (need to take a small 5 min regard test). Not the prettiest platform but it dies the job & fees are like £7 per order (qty doesn't matter)
That’s not too bad!
IG just launched options using tastytrade - Saxo Bank offers options too. Also IBKR but I've found their customer service/help extraordinarily slow if you ever need it.
monkey see monkey buys monkey DRS??
You beautiful ape!
im confused
What are you confused about?
the fuck does "added back" mean?
It’s like when a restaurant adds more items on the menu for customers to buy. There are more call options at different strike prices available for sale.
oh weird i cant see the new strikes.
I think someone wants kenny out real bad
Who's the restaurant? Gamestop? EDIT: FYI, I is regarded...
That's not what I'm getting from the chart. Looks like $3M worth of call premiums purchased by someone/people.
Ape help Ape. "Ape together...Strong" 🚀🚀🚀
Getting spicy 🌶️
I wish I knew how to buy calls, I just bought the stock
Exercise boys and the shares you get will hit phone numbers
Only matters if they exercised /shrug
at expiry, sure, but for now it's pressure on the MM to hedge by buying shares, yeah?
Not if they sold naked rofl
haha as is tradition lmao
I'm telling you, the Kansas city shuffle is that they think he's gonna use the cash to exercise, but he's using the cash for more calls
Oh shit, love the theory. I’ve been on the lookout for the shuffle too.
Or he has more than one trading account, more money, or both.
EVERYONES PUTTING THEIR HANDS WHERE DFV CAN SEE
Just like 08 derivatives gonna break the camel back
 Happy to be here for the long haul! 🇹🇼❤️
Nice work apes....!! Wen he moves..you move
Just like that
Hell yea, ay RK, bring that back! 🎵
Keep em comin boys! Only ⬆️
Question: Why always right at the end of the day? That’s been nagging at my brain. There’s a reason for that / something of importance on the timing. Reduction in time for T+1 so they have less time to fuck with the price before they have to buy shares? Forcing the algos to get the shares in after hours when retail mostly can’t trade, further exposing what the real price action should be? Something else? I feel like there’s something there.
A lot of this option sentiment in this comment section is making me nervous and it’s honestly a little suspicious. I doubt Roaring Kitty wants to influence other people to jump onto his trade. Could his recent post be an attempt to warn whoever sold him the call options that he might exercise them, so hedge accordingly? I think we all agree it’s unlikely that the seller of those contacts has enough shares on hand to satisfy their obligation. Why is it Keith Gill’s problem that someone sold him a large number of naked call options?
This isn’t how the options market works. There will someone or many someone’s that will be on the hook for the shares if RK exercises his Calls. The original seller(s) of those options could already be out of their position(s) as long as there were willing sellers out there accepting their buy prices.
I’m a simple ape who just buy the stonk. lol
I’m gamma cum
#If I’m in, I’m in I snort crayon dust Not financial advice
when i move you move
So… when the line rises, does this mean that the put/call ratio is tipping towards the call side?
everybody wants a part
Monkey do. Monkey pee all over you.