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

vanzandt · Feb 25, 2021

zghorner said:
@vanzandt you taking a long position then?

Yeah. Nothing big though. For fun.

terr · Feb 25, 2021

Gotta love the options action.

Yesterday when it jumped to 60, March 12 strike 43 puts were around 3.6.

Right now it is at 128. Same puts are around 4.

Put buyers couldn't lose.

vanzandt · Feb 25, 2021

It's looking pretty weak atm though.

vanzandt · Feb 25, 2021

What'll it hit first, $160 or $100?
I think $100.

smallfil · Feb 25, 2021

vanzandt said:
It was $124 and change when I posted that.
Look at the price action, its going higher.
If it breaks $160, its going to $220.
For starters.

GME opened at $169.56, it is trading below that now. I don't know if it can go higher from here but, sense it is almost at the top of its move. If you have shares, smarter move is to exit it and take your profits, whatever it is. Hedge funds will short GME when they exit near the top.

Saltynuts · Feb 25, 2021

Guys, GME is now at $136. Thinking of selling like just 10 more shares or something small. Enough to win just a little assuming this thing drops back down like it should. Thoughts?

vanzandt · Feb 25, 2021

smallfil said:
GME opened at $169.56, it is trading below that now. I don't know if it can go higher from here but, sense it is almost at the top of its move. If you have shares, smarter move is to exit it and take your profits, whatever it is. Hedge funds will short GME when they exit near the top.

25MM shares jumped in yesterday when it took off above $50. 20MM traded today in the first hour. Low/high was $101/$170.
2nd hour 14MM shares. Low/high was $122/$152. If it was gonna drop, it would have by now. Like I said, if it gets above $160, its gonna run hard.

zghorner · Feb 25, 2021

Saltynuts said:
Guys, GME is now at $136. Thinking of selling like just 10 more shares or something small. Enough to win just a little assuming this thing drops back down like it should. Thoughts?

whatever you decide please let us know. Your loss porn yesterday got me so hard a cat couldn't scratch it.

traider · Feb 25, 2021

Saltynuts said:
Guys, GME is now at $136. Thinking of selling like just 10 more shares or something small. Enough to win just a little assuming this thing drops back down like it should. Thoughts?

Are you still able to borrow shares? How can this be?

vanzandt · Feb 25, 2021

That said, it does look weak.
$100 before $160 is still my guess.