The guy who made $11 million on $GME
- Thread starter guru
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well, you will see, when you try to sell your positions. Let's see what kind of prices or market will meet your ask
options is like walking on quick sand, you never know what's next, too many pockets of air
WTH, there is no such thing as buying or selling working differently. You don’t even know whether I bought a call/put and will sell it later, or whether I sold a call or put and will buy it back later. If I can do one then I can also do the other. In all cases I may be always buying, just the qty can be positive or negative.
And I do this every day, and already rotated (opened and closed) some of these.
I even have 100+ GME option contracts on Robinhood that I got on Wednesday and been selling Thursday and Friday.
You’re theorizing too much without having any experience.
you are relying on a counterparty to make those trade calls, once they go away for whatever reasons, you will be left with all your options and no buyer or seller. To make things in perspective for you, think Subprime mortgage when the PSA model hit 0% and everyone got out of the market 
you are relying on a counterparty to make those trade calls, once they go away for whatever reasons, you will be left with all your options and no buyer or seller. To make things in perspective for you, think Subprime mortgage when the PSA model hit 0% and everyone got out of the market
Didn't I just wrote earlier "When they don’t compete then guys like me are making markets."?
This means that I am the counter party and I provide liquidity. Anyone can hedge options (especially outside of Robinhood) either with the underlying or other options, and can utilize far-dated options to hedge and then wait for liquidity, and there are plenty of people making markets outside of Robinhood.
The lack of liquidity is actually the best opportunity when I finally don't need to compete with market makers to provide liquidity myself.
In that case no one in the world can trade any options on any stocks. Anything can happen and according to you just by holding options it is not possible to have a backup plan.
Now please explain this to millions of other traders, because they simply don't know about it even with some of them trading options for 30 years (which would be much longer than me).
you are relying on a counterparty to make those trade calls, once they go away for whatever reasons, you will be left with all your options and no buyer or seller. To make things in perspective for you, think Subprime mortgage when the PSA model hit 0% and everyone got out of the market
Like @guru just told you. You obviously know nothing about how the options markets work so you should not be "giving counsel with knowledge" to quote a man named JOB.
Again, please preach to millions of people online who trade options.
But you already made two false statements:
1. You wrote: "though selling his options might be tricky, no volume for all of them, so it has to wait until they expire"
I was discussing this specific topic and explained that volume isn't needed. If volume was needed then no options would ever be trading because all options don't have volume when first listed. While plenty of traders can make markets, regardless of their risk. Your post wasn't even about MMs' risk, but about the guy who simply may want to sell thousands of his contracts, and even I can buy these from him without problems while hedging. My risk has nothing to do with him selling his options.
2. You also wrote: "he actually got a CFA, I guess he forgot the chapter about price manipulation in the CFA curriculum".
Yet, everyone posts similar articles to his on Seeking Alpha, including financial advisors,traders, people fighting short sellers, etc.
BTW, Citadel and Virtu report highest earnings during periods of highest volatility, which is their main bread and butter. While Fed would bail out millions of options holders if suddenly millions of people would go bankrupt because they couldn't close their options (which wouldn't make sense anyway).
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