The guy who made $11 million on $GME
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He’s now sitting on $47 million:
https://www.reddit.com/r/wallstreetbets/comments/l6ekdz/gme_yolo_update_jan_27_2021_guess_i_need_102/
https://www.reddit.com/r/wallstreetbets/comments/l6ekdz/gme_yolo_update_jan_27_2021_guess_i_need_102/
how long before he loses it all on his next "bet"?
he actually got a CFA, I guess he forgot the chapter about price manipulation in the CFA curriculum
I don’t know which of his actions may be considered price manipulation, but doesn’t look any different from thousands of people posting articles on Seeking Alpha. Why Seeking Alpha isn’t taken down by regulators if providing opinion about stocks is considered price manipulation?
if he didn't sell yet, he is definitely a fool
though selling his options might be tricky, no volume for all of them, so it has to wait until they expire, and a lot of things can happen until the expiration date
And then GME hit $450 and all the chatter stopped. What did I hear? "It will never hit $150 again" by the same tulip mania guy that considers BTC worthless.
I currently have thousand of options on GME that I purchased last week, with almost no volume (though not expecting to make too much money on these, maybe a few $K). Volume has nothing to do with anything since market makers will buy/sell any option you want, and near mid-price, as they also compete. When they don’t compete then guys like me are making markets.
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look at the bid/ask volume on options, even for blue chips and big names, those numbers jump left and right every ms, with lots for several thousands shares disappearing in a matter of microsecond,
all tested with what we call "ping" to "test" the demand and supply curve for those options
very very risky, I am amazed that RH could get away with it, and that the SEC or the state regulator are not taking actions against them
all tested with what we call "ping" to "test" the demand and supply curve for those options
very very risky, I am amazed that RH could get away with it, and that the SEC or the state regulator are not taking actions against them
What are you talking about man. This sounds like baby talk. People have been trading options and option spreads for ages without problems, even before modern exchanges existed.