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

[JSOP]

OMG!! GME is at $168!! $1K here we come!!

 

[Saltynuts]

Well now I'm learning about short selling. So what's with the -40k unrealized? The -60k makes sense based on your size and avg price.

???? The 60 is my short position, the 40 is what I am down.

 

[IamTheCasino]

Thank you for admitting your total life earnings is less than what I make when taking a dump lol. Sorry you are poor. But I hope you get it together! If you try REALLY HARD maybe you can double your $24.83 account balance!

rofl. Wake me up when the farm is lost and you gotta move back in with mom.

Take some of that money you supposedly have and get a maid, hoarder.

 

[Saltynuts]

rofl. Wake me up when the farm is lost and you gotta move back in with mom.

Take some of that money you supposedly have and get a maid, hoarder.

Sorry you are poor.

 

[traider]

Sorry you are poor.

Aren't you worried that you will be forced to buy back when those shares are recalled. How much time do you have?

 

[IamTheCasino]

Sorry you are poor.

id rather be "poor" than a dumbass. LMAO, O Mr Dense.

 

[george_the_second]

Oh it made NO sense. I was trying to short when it was hundreds of dollars higher. IB would not let me do it. Still, gonna win this war, I freaking guarantee it!!!

I just checked and for shorting GME, IB requires 300% initial margin with 80% maintenance, and they seem to have more than 1mil shares available. The fee sits at about 1%.

Did they impose some kind of restrictions yesterday?

 

[cruisecontrol]

imo this tanks hard by the next close. everyone knows this crap isn't worth $100, and all the bagholders from the previous pump can not miss this opportunity to sell

 

[tsznecki]

I'm fuking down $40,000 on that small fuking position.

Diamond hand that shit. Double, no triple down.

 

[smallfil]

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

Borrowing shares, your risk to the upside is unlimited. Just like Point 72 and Citadel hedge funds did with shorting GME and AMC before. That was a colossal mistake. If you want to short a stock, you buy a put option. Your risk is limited to the cost of the premium and not a penny more on a worst case scenario. In this case, you stand to lose quite a bit of monies as GME stock runs up in price. You could be facing margin calls and the broker could just close the trade because they are not going to eat the losses.