GME

Over the past 3 years, GME has been going

up and down and
up and down and
up and down and
up and down and ....

So you should
buy and sell and sell and buy and
buy and sell and sell and buy and
buy and sell and sell and buy and
buy and sell and sell and buy and ....

It is the traders' dream
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Investors would
buy and HODL and
buy and HODL and
buy and HODL and
buy and HODL and ...

It is the investors' nightmare and they might
end up living on the street
upload_2024-9-9_5-13-25.jpeg
 
Got this email today from IBKR on the earnings.

upload_2024-9-10_4-39-11.png


So a 14.7% move puts it at either 27 up or 20 down.

According to my sheet, if price hits 20 tomorrow morning, the 21 long put will be worth $1249.51 and the 20 short put will be worth $732.21

The net for the spread is $517.30. I essentially lost -$732.21 because of the spread, but only got a $186 discount.

(The cost of the single was $344, and the cost of the spread was $158)

So what's the point of long spreads? All they do is suck away profits at a proportion much greater than the discount they provide.
 
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Anyway so I am expecting a pump up to 28 today would be nice before the rug pull...or who knows maybe the market thinks they are going to beat. I don't think so because Cohen still believes he has inherited a brick and mortar company.

What I would do:

  • Sell/close all GME stores or turn them into Substop franchises...not enough of those around.
  • Start funding gaming competitions or create a GME world gaming competition.
  • Lean into the MEME
  • Online gaming sales. That is the only hope for GME.
  • Research and development for VR hands free, and mapping your environment into pov games.
  • Think outside of the box.
I don't game other than VR Flight Simulator, but imagine VR COD in your house lol where you physically walk around.

 
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Is this such a terrible idea to turn all the GME locations into a food franchise?

How much are the stores revenue? There are 6,100 locations so 5B revenue/6100 stores = 819K. If we are generous and say that half of the sales from the brick and mortar stores...which are always empty, then its a wash:)

Either that or turn them into outlets for quick delivery for online sales which I assume is what they have been reduced to at this point. But aren't games downloaded now lol? I mean I downloaded the entire MSFS 2020 which is huge directly on Steam.

Like wth? I gotta get off this Titanic.

https://investorplace.com/2023/03/gme-stock-can-a-new-brick-and-mortar-focus-save-gamestop/
 
You actually cut losses? It's not happy:

gmearningz.JPG


*edit- Just looked at your other choices. Both trending down. I understand there are many ways to win, but as a momo trader I'm scratching my head. No disrespect intended, from one EW practitioner to another: friends don't let friendz buy down trending stocks!
 
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wxytrader said:
No earnings call???? What are they acquiring something?
More...

Another share offering...I knew something was cooking. What a pos.


Wide Tailz said:
You actually cut losses? It's not happy:

View attachment 348845

*edit- Just looked at your other choices. Both trending down. I understand there are many ways to win, but as a momo trader I'm scratching my head. No disrespect intended, from one EW practitioner to another: friends don't let friendz buy down trending stocks!
More...

Why would you want to buy in an uptrend? You are just raising your break even. I buy during down trends...same as the hedge funds.



Here are my GME results:

$16k after being assigned shares prior to the May runup.

Then I got assigned @ 28
Sold at 20.67 today
Loss: 7.33*750=$-5497
Total premium collected: $3900

Net: 16k-5497+3900=$14,403



MARA 1000 shares

Book price 1000 @ $19.75
Sold: 1000 @ $15.30
Loss: -$4450
Premium: $3795

Net: $-653

I also sized down last week.




This is why I never buy or sell stocks (except for today because it was a flush) without selling puts, or selling calls, or buy stocks that do not have a dividend. It is a built in hedge.

That is the new rule....only buy cheap, high volatility stocks that offer a dividend.
 
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