GME Shenanigans Massive June call position

wxytrader said:
It wouldn't have the volatility of course without the meme traders, but the meme traders leave a foot print. ;)
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his call positions expiring on june 21, i don’t know what his cost basis but gme was trading at 20-23 last week. if he didn’t post, he can’t exit the trades, perhaps losing all the premiums paid.
 
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Now what smart tricks is Roaringkitty going to do before the 21 Jun expiry date?

He is thinking about how to legally transfer $$$$$$ from

foolish gullible lazy people to smart people like himself.

All the best roaringkitty!
 
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mervyn said:
his call positions expiring on june 21, i don’t know what his cost basis but gme was trading at 20-23 last week. if he didn’t post, he can’t exit the trades, perhaps losing all the premiums paid.
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“… One way for Gill to get around this and still make money, options traders said, would be to short 12 million shares of GameStop before the options expire. An investor going short borrows shares and sells them in the hopes of being able to buy back the stock at a lower price in the future.

If GameStop’s share price is above the options’ $20 strike price at expiration, Gill could, in theory, exercise his options - buying the stock at $20 a piece and use the shares to close out his short position.

Using Monday’s closing prices, Gill would be selling the shares at $28 and exercising his options to buy them back at $20, netting himself about $8 per share, or $96 million.

"That would make it seem like he's still 'a diamond hands' and he's still going to make money," said Chris Murphy, co-head of derivative strategy at Susquehanna Financial Group.”


https://finance.yahoo.com/news/roaring-kittys-gamestop-options-millions-100516330.html



SUSQ kind of get options?
 
TrailerParkTed said:
“… One way for Gill to get around this and still make money, options traders said, would be to short 12 million shares of GameStop before the options expire. An investor going short borrows shares and sells them in the hopes of being able to buy back the stock at a lower price in the future.

If GameStop’s share price is above the options’ $20 strike price at expiration, Gill could, in theory, exercise his options - buying the stock at $20 a piece and use the shares to close out his short position.

Using Monday’s closing prices, Gill would be selling the shares at $28 and exercising his options to buy them back at $20, netting himself about $8 per share, or $96 million.

"That would make it seem like he's still 'a diamond hands' and he's still going to make money," said Chris Murphy, co-head of derivative strategy at Susquehanna Financial Group.”


https://finance.yahoo.com/news/roaring-kittys-gamestop-options-millions-100516330.html



SUSQ kind of get options?
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he needs 84 million minimum to exercise all his options, maybe he has that kind of dope. look at the chart, it trades below 20 for months until his first post. he probably accumulates the positions in months perhaps even some leaps on the cheap, but he is destined to lose all if he can’t create a fuss. this is manipulation by the book.
 
ajacobson said:
L.O.P. Report would have to file at OCC. It has "an acting in concert" requirement - so OCC would have data from his brokerage firm.

What is a lopr?


Term. Description. Unequal Long and Short Positions. Members must report any account or accounts acting "In Concert" that hold over 200 contracts on either the long call/short put (bullish) or the short call/long put (bearish) side of the market.
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I am still doubting the intent of these lousy reporting requirements. For whom is that from a market integrity point of view "useful"? For the regulator? Doing what exactly with this information? For the prosecutor gang at the Southern District of NYC? Ridiculous!
 
kmgilroy89 said:
I wonder if Citadel/Virtu told ETrade to stop taking his orders. They seem to have no problem with them manipulating the market.
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Don´t forget: Kitty is showing only one part of his options positioning. He could have a whole ladder of open calls/puts....:sneaky::finger:
 
mervyn said:
he needs 84 million minimum to exercise all his options, maybe he has that kind of dope. look at the chart, it trades below 20 for months until his first post. he probably accumulates the positions in months perhaps even some leaps on the cheap, but he is destined to lose all if he can’t create a fuss. this is manipulation by the book.
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The consensus among the short sellers like Andrew Left and other pro traders is he has backers. A few Elite members who manage money mentioned that too on Monday, I wonder who are the whales?
 
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