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It is indeed correct. The stock is standing rock solid above $300 (Now at $345 with 40 mins to close). 29-Jan expiry (next Friday) has some 300k puts OI and 150k calls OI. The fact that all those puts are out there means that a lot of them are actually hedged with short stock or at best with...

I don't understand your logic. Is it my money, your money or IB's money?

I mean if I buy puts on IB and if a MM is on the other side of the trade & wants to hedge that short put, he will need to short the stock. If there is not enough stock out there accessible by MMs to short, then hence why the ban on opening new long puts (That's my assumption). Puts are only set...

I am afraid you are right.

I am trying to open long puts, not short puts. So paid in full & risk is limited.

I also traded some puts today early in the session and they went through without issues, but suddenly, trying to place one order only to get the message that the contract is only eligible for closing, no opening. Tried a couple of puts across expirations, all the same. Calls are fine though...

Heads up to everyone, IB just switched off GME put options (Across all expirations) to close only mode. This is not fair. Any explanation for that? I guess this has one simple meaning. There are no shares for the market makers to short against any new open puts.

Call option buyers are living the dream of their lives

It's spilling to the broader market. Futures down, Russell 2000 futures hit by 2% and VIX is up 16%.

I agree, but again the same old golden statement, "The market can stay irrational much longer than you can stay solvent". The billion dollar question is from which price is it going to start the collapse? $500? $700? $1,000?

Absolutely true, these guys ran out of money long time ago, very few of them bought shares above $150. Now those who bought the high of yesterday are now up 100% easy. Melvin is paying the price of being stubborn and it's no different than retail or small traders mistake of hanging on too long...

How do you expect to find stocks to short in a stock which is already having a 140% short float? It will be impossible to be done. It's game over for shorts in this stock.

Gamestop stock in Europe is trading @245 Euros, that's almost $294. US pre-market opens in 10 mins, it will be an interesting day & week.

I guess it would be cheaper for Citron to buyout reddit and shut it down than continuing in this deep hole, lol

Agree that fundamentals are like non-sense, but this has been moving in the last couple of weeks purely based on war tactics, no fundamentals, no technicals, no common sense. Besides, you are judging the company based on the current information, things can change dramatically. For example...

It's amazing & insane at the same time. $200 calls expiring this Friday 29-Jan traded 109K contracts (Eager to see the OI, it was 0 yesterday since this strike was added yesterday only I believe). IV for OTM (When they were out of the money during the session) is astonishingly 650%!!!!

So when are they throwing the towel? Looks like another $2.75 B will be burned off. The mania isn't cooling off, it's actually gaining momentum. If it closes like this @$145-$150, it will almost for sure gap up tomorrow taking down the pants of shorts.

If bonds sells-off, yields will rise, making equities look more expensive given their expected returns vs. risk (risk premium), which can trigger equities sell-off by risk parity & others, unless of course the Fed shows up and buys bonds to push the yield back down again & voila, you get your...

I tried to grab some puts when it was trading at $125, but didn't manage, the puts are the most expensive I have ever seen. 21-Mar-21 $35 puts were @$7.00, pretty crazy with 350% IV.

That's exactly it, it's a game store. Robinhooders are playing it as a game, them against the big boys, eventually both will lose. Citron probably covered at catastrophic losses and Robinhooders will hold until it wipes them out.