Nice! LOL totally...his position dropped huge today...although he usually rambles on a bit. He posted his portfolio on the stream.
GME Shenanigans Massive June call position
- Thread starter FSU
- Start date
He’s talking his position down, you believe he’s this laid back losing $500 million?
For how long?He's still up 150M
Well the IV has left the building...bad earnings...share offering...kitty looked disheveled...but still holding technicals. This potential triangle was formed yesterday when we hit .618 fib, and when price was at $60 it needed to revert back to be valid, so there needed to be some catalysts...I think we got them!
Now it a grind it out premium game going forward.
We just hit my $27 target but I'm going to hold off...maybe I'll pick up 200 by eod.
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He theoretically could exercise them.
"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."
https://www.reuters.com/technology/...up-millions-cashing-may-be-tricky-2024-06-04/
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