GME up over 100%.... what is going on now?

[Relentless]

So I'm down $41k on my position, 356 shares shorted. WTF should I do? Just hold? I've got a TON of margin in the account (been very conservative lately), so I think I should just hold. But shit, do I have enough margin if I wake up tomorrow and the stock is at $2,000 as someone suggested? $4,000? $20,000? Fuking shit I wasn't even trying to make any real money off this, just wanted to short a little for shiats and giggles. Fuuuuuuuu

Only you can answer this question.

You should have determined your risk before even taking this position (which was obviously a poor choice in the first place).

Now that you are in the situation you are in you will have to determine how much more risk you are willing to tolerate before pulling the plug - and what the opportunity cost may be of sitting on the loss for a period of time.

If you can eat current losses and move on ok then go for it. If not, again - determine how much more you are willing to lose and understand full well you may lose all of that. And again - consider lost opportunity cost as well.

Next time you decide to short for "shits and giggles" - don't. Do your homework... And stay away from circus stocks.

 

[Overnight]

Thanks Overnight. If I sell a call, I am agreeing to sell the purchaser shares at a certain price. But I'm already negative 356 shares. Do you mean sell a put? Or do I have it wrong in my head? I'm a little on nerve right now, I'm sure I missed it up. Thanks.

The reason I *shrugged* is because I don't really know. Maybe ask the question in the options forum on a way to "salvage" the trade with an option hedge, so you can hang on with your cash reserves while protecting against any more bleeding.

I think most folks would tell you to bail, but maybe there is an option strat that can help? Ask the option pros. I am still learning, poorly and at a snail's pace, all things option.

 

[Saltynuts]

Only you can answer this question.

You should have determined your risk before even taking this position (which was obviously a poor choice in the first place).

Now that you are in the situation you are in you will have to determine how much more risk you are willing to tolerate before pulling the plug - and what the opportunity cost may be of sitting on the loss for a period of time.

If you can eat current losses and move on ok then go for it. If not, again - determine how much more you are willing to lose and understand full well you may lose all of that. And again - consider lost opportunity cost as well.

Next time you decide to short for "shits and giggles" - don't. Do your homework... And stay away from circus stocks.

Thank you Relentless. All things considered, I'm declaring WAR on the short sellers. Let them try and smoke me out of my position. I got equity until the fuking cows come home. To the motherfuking DEATH this is...

 

[Overnight]

Thank you Relentless. All things considered, I'm declaring WAR on the short sellers. Let them try and smoke me out of my position. I got equity until the fuking cows come home. To the motherfuking DEATH this is...

That sounds like a revenge-trade mentality. Especially since you say you are declaring war on the short-sellers, when you are in fact one of them. Not a healthy mind-set. Get some serious rest tonight and consider your choices over the next few days as the GME price action plays out.

 

[Saltynuts]

That sounds like a revenge-trade mentality. Especially since you say you are declaring war on the short-sellers, when you are in fact one of them. Not a healthy mind-set. Get some serious rest tonight and consider your choices over the next few days as the GME price action plays out.

Oh I'm definately NOT in a healthy mind set Overnight. I appreciate the helpful suggestions. But I doubt I will get much sleep tonight. For tomorrow is WAR. My life, or theirs? Faaalalalalalaalallalalalalalalalaaaaaa!!!!!!

 

[Saltynuts]

Guys, so I'm looking at my account, down 41K. I'm less worried about my equity, my ability to hold on and not get MC with more losses, than I'm worried about some DICKHEAD whose stock I shorted calling in the short at the VERY TOP. How likely is that?>?>?

 

[hilmy83]

Guys, so I'm looking at my account, down 41K. I'm less worried about my equity, my ability to hold on and not get MC with more losses, than I'm worried about some DICKHEAD whose stock I shorted calling in the short at the VERY TOP. How likely is that?>?>?

Can I see a screenshot of your positions with that pnl. I never shorted stocks in my life so I'm curious to see how that looks like

 

[IamTheCasino]

So I'm down $41k on my position, 356 shares shorted. WTF should I do? Just hold? I've got a TON of margin in the account (been very conservative lately), so I think I should just hold. But shit, do I have enough margin if I wake up tomorrow and the stock is at $2,000 as someone suggested? $4,000? $20,000? Fuking shit I wasn't even trying to make any real money off this, just wanted to short a little for shiats and giggles. Fuuuuuuuu

@destriero - maybe you can give Mr Dense some advice

O Mr Dense, havent you heard of cutting your losers quickly?

You should have known something was up when the stock was on its way up to 90. Then you just sat and held with the hope strategy TF were you thinking?

Ill give you 2 options, des might have more for you - Cut now, stop being a fuckhead, learn and recoup your loses. Or, ride it up to the top and see if it comes back down - this runup will probably be temporary like the last one - maybe.

As for me, Id be out and licking my wounds never to do something so retarded ever again in the history of my trading. Expensive lesson but maybe you learn not to play for "shits and giggles."

If you want to shit and giggle your way to millions with some Diamond Hands , set aside a separate bankroll and never use margin on it.

 

[Saltynuts]

Can I see a screenshot of your positions with that pnl. I never shorted stocks in my life so I'm curious to see how that looks like

OK, here it is... but its what I told you? What are you trying to get out of this above what I told you? Not including my account number, to many thieves on the internet. What would you ask for this?

 

[Saltynuts]

@destriero - maybe you can give Mr Dense some advice

O Mr Dense, havent you heard of cutting your losers quickly?

You should have known something was up when the stock was on its way up to 90. Then you just sat and held with the hope strategy TF were you thinking?

Ill give you 2 options, des might have more for you - Cut now, stop being a fuckhead, learn and recoup your loses. Or, ride it up to the top and see if it comes back down - this runup will probably be temporary like the last one - maybe.

As for me, Id be out and licking my wounds never to do something so retarded ever again in the history of my trading. Expensive lesson but maybe you learn not to play for "shits and giggles."

If you want to shit and giggle your way to millions with some Diamond Hands , set aside a separate bankroll and never use margin on it.

Thanks Mr. Dipshit. There was no "knowing something when it was on its way to 90". I have a day job where I actually earn money, unlike some people (you) who only lose it in the market. Like, far more than the $2,394 summing up your total lifetime earnings, trading included. Anyways, back to the point. BOOM it was 90 when I got off a work call and looked at the price. Now, given that you are a "trader" (lol), this might have decimated you with your $24.31 cent account (up from $19.35, gratz, you almost big time boy!!!). Me? I'm taking it in stride. I'll see your dumb ass on the other end, victorious. Have a great night, Mr. Dipshit!!!