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Oscar Wild posted:Selling options without owning the underlying stock is risky because you will have to have enough cash to buy 100 shares of the stock if the contract finishes in the money. Doesn't need to finish ITM, once it's profitable people will start exercising. If it was only a matter of expiring ITM I wouldn't have waffled on those July calls.
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Jan 25, 2021 22:01
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Chad Sexington posted:Except now you're holding GME. A great position to be in, until my limit sells trigger.
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Jan 25, 2021 22:02
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So long January 25th, see you in the history books you nutter butter.
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Jan 25, 2021 22:06
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BB continues to confuse me.
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Jan 25, 2021 22:21
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BB actually has the potential to be a player in the next couple years, GME is just sick humor though.
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Jan 25, 2021 22:24
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This isn't as weird as wallstreetbets meme stocks, but "Tootsie Roll Indistries" (TR), popped up on my screen today. Up 15% on no news. More than 5x normal volume. I didn't even know they were publicly traded, but 40x earnings for "Tootsie Roll, Tootsie Pop, Charms Blow Pop, DOTS, Andes Mints, Sugar Daddy, Charleston Chew, Dubble Bubble, Razzles, Caramel Apple Pop, Junior Mints, Cella's Chocolate-Covered Cherries, Nik-L-Nip" seems excessive, what the hell. I wouldn't think there is a lot of growth opportunity in old-rear end candy. I do see two guys trying to pump it on WSB, but that doesn't seem like enough to really move it.
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Jan 25, 2021 22:27
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I just saw Tootsie Roll on a list of most shorted stocks, so people trying to do another short squeeze?
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Jan 25, 2021 22:29
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Tootsie Roll industries is another stock with high short interest (45.85%) so maybe everyone is just looking to get into these sort of stocks right now.
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Jan 25, 2021 22:29
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Guy I know decided Friday of all days was the day to YOLO shorting GME. He lost $150k today and blew up his account. Oof.
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Jan 25, 2021 22:30
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Taking my licks on Tootsie Pop options
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Jan 25, 2021 22:31
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Chimp_On_Stilts posted:How long does a stoploss generally take to trigger & fill? It kind of depends on volume and what people are bidding, but generally it will trigger the moment it can, at least that's been my experience. If you are thinking of using trailing stop loss to give yourself peace of mind in the event of a hard dip, BE CAREFUL. It can backfire, so learn from my mistake when a stock I'd assigned a trailing stop loss took a hard dip and almost completely rebounded within a couple hours. It was simple enough to buy back in close to where I'd left off, but this was also in a taxable account, so the IRS got some free capital gains money out of my dumbass play. Also keep in mind that the stop loss order will have to be canceled first if for some reason you decide you want to sell on the spot. EDIT: Also, pay attention to what your stop loss order is using for reference. We've seen some wild Friday-Monday price swings today, so trying to bail out of a loss at noon on Monday when the order is looking at the price from Friday afternoon is asking for trouble if you're not careful. Space Fish fucked around with this message at 22:42 on Jan 25, 2021 |
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Jan 25, 2021 22:33
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im pretty deep in CCIV hoping for news this week
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Jan 25, 2021 22:36
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Sold two of my GME today at $150 to more or less cover some potential losses, still holding ten at $43.70. I'll probably hold the rest until Friday just to be along for the ride. Never really traded before, this is more fun than sports betting.
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Jan 25, 2021 22:39
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Curious to see what the ramifications are of big money being terrified to short even the most broke brained companies
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Jan 25, 2021 22:41
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Femtosecond posted:Tootsie Roll industries is another stock with high short interest (45.85%) so maybe everyone is just looking to get into these sort of stocks right now. ahh yah, I see other decent gainers today on the most shorted - Revlon, GoGo, Clovis, iRobot...
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Jan 25, 2021 22:45
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cr0y posted:Curious to see what the ramifications are of big money being terrified to short even the most broke brained companies It would mostly be confined to stocks with a high level of short interest yeah? So maybe it just becomes far riskier to short something that is already heavily shorted .
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Jan 25, 2021 22:52
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Jan 25, 2021 22:58
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So apparently original $2 GME guy cashed out some of his calls today for ~2.2 million near peak.
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Jan 25, 2021 22:59
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err posted:I completely hosed up and went all in @140 😭😭😭 Lmao
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Jan 25, 2021 23:02
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GME 1000 baby
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Jan 25, 2021 23:05
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Baddog posted:ahh yah, I see other decent gainers today on the most shorted - Revlon, GoGo, Clovis, iRobot... Somebody with big money has to be doing this intentionally. There’s no way there’s a spontaneous short squeeze on every heavily shorted stock on the same day.
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Jan 25, 2021 23:08
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It’s probably short-centric hedge funds like Melvin and Citron either getting margin called or having their risk management staff scream at them to cover some positions. Or long funds deciding to spread some bets on big short interest stocks because of GME. Or both. Too widespread to be WSB.
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Jan 25, 2021 23:10
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sold my BB call, probably could've held but with this volatility... holding a few shares of GME/BB for the lols.
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Jan 25, 2021 23:11
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Tokyo Sex Whale posted:Somebody with big money has to be doing this intentionally. There’s no way there’s a spontaneous short squeeze on every heavily shorted stock on the same day. It's seriously reddit, hit up wallstreetbets, they are actively hunting out stocks that are vulnerable to be squeezed. They found one weird trick to beating wallstreet and are going to smash that button until they are forcibly removed from their RobinHood apps.
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Jan 25, 2021 23:12
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lurksion posted:So apparently original $2 GME guy cashed out some of his calls today for ~2.2 million near peak. Is that the account with loving in the name? Dude just bought like 4mm more @ 78. He's going all gently caress in which is absolutely nuts to me. Its kinda wild witnessing it in real time, and I wont lie - I had about $500 or so in etrade I jumped in @ $68. Im already sitting nicely from BB, I know a guy who is an executive @ Chewy in FTL and he absolutely raves about the guy who went to Gamestop... and this is funny money at this point anyway so why not.
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Jan 25, 2021 23:15
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Can Ryan Cohen use this frothy valuations to create business case to actually grow the business to be Chewy 2.0? (I know this is a stock trading thread, so the answer is probably, who cares about fundamentals  )
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Jan 25, 2021 23:40
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Is Blockbuster still on the ticker because I've got a good feeling about its odds.
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Jan 25, 2021 23:41
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I made money today. Today is a good day.
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Jan 25, 2021 23:45
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thinking about snagging a call or two on BB tomorrow morning, but I want to make sure i have the understanding right, take for example this chart from RH: (I'm gonna go with a jan 29 or feb 5 expiration but bear with me here)  Purchasing the $20 Strike Price contract in this example gives me the right, but not the obligation to buy 100 shares of BB at $20 each, in exchange for a premium of $5.38 per share? This is how the Break Even point is determined, then? And the % change and Change is how much that particular contract has changed today in value, as driven by the current stock price? So if I think BB will go above the breakeven, 25.38 in the above example, i stand to make money with limited risk? If the price does exceed the break-even, the contract is then in-the-money and can be sold to someone else for its presumably higher value or exercised to acquire the 100 shares?
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Jan 25, 2021 23:47
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if you're going to start buying options please don't start with BB
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Jan 25, 2021 23:49
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Virigoth posted:I made money today. Today is a good day. same 
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Jan 25, 2021 23:50
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Aruan posted:if you're going to start buying options please don't start with BB Fine with me, tbh, but why in particular? Related: is my understanding still correct mechanically?
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Jan 25, 2021 23:53
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BTAQ doing well after hours 
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Jan 25, 2021 23:55
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Deviant posted:Fine with me, tbh, but why in particular? BB is very wild right now. If I sold at peak, I would have made money but now I'm down 50%. I'll hold till Friday just because I think it could spike back up, but it's just gambling money anyway. There's really no way to know for sure. Also bought 3x $6 3/5 calls for Nokia because they're dirt cheap and it looks like it might hit that anyway just naturally. Assuming I actually get them at that price for tomorrow's open lol As for buying, bear in mind the buy (premium) price will be multiplied by 100 when you put in an order. So if the shown price for a BB call is $1, you'll need $100 to actually buy the option. The breakeven price is the price the stock must reach to make a profit if you count the premium you paid for the contract + the cost of actually exercising the contract to buy 100 shares at the strike price. Depending on how high you think it will go, not everyone actually exercises the contract and will just sell (close) the option. There's kind of a middle ground between what you paid and the breakeven point where you can still make quick money without buying the actual shares. Also helpful if you like the gambling with options but don't have thousands of dollars to actually exercise your contract. Axel Serenity fucked around with this message at 00:06 on Jan 26, 2021 |
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Jan 26, 2021 00:00
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Deviant posted:Fine with me, tbh, but why in particular? Others will correct me if I am wrong, but your fundamentals sound correct. However, if you buy a call and it’s over the strike price of $20 at expiry, you’re obligated to take assignment of the 100 shares at $20. Or, if you don’t have the cash or margin at expiry, RH will look to sell your contract for whatever price it can get about an hour before expirations.
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Jan 26, 2021 00:05
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Moonshine Rhyme posted:BTAQ doing well after hours I've lost track of all the SPACs I've thrown in on besides my rule of not spending over $11 — BTAQ is the Israeli start-up targeting one, right? Or just defense? Or both?
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Jan 26, 2021 00:11
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Cacafuego posted:Others will correct me if I am wrong, but your fundamentals sound correct. However, if you buy a call and it’s over the strike price of $20 at expiry, you’re obligated to take assignment of the 100 shares at $20. Or, if you don’t have the cash or margin at expiry, RH will look to sell your contract for whatever price it can get about an hour before expirations. You have the right, but not the obligation, to purchase the shares if you bought a call. When you _sell_ a call, you have the obligation to sell shares at the given price. In practice your broker will probably sell the thing for you if it's ITM around expiration and you don't do anything to it.
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Jan 26, 2021 00:11
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Deviant posted:If the price does exceed the break-even, the contract is then in-the-money and can be sold to someone else for its presumably higher value or exercised to acquire the 100 shares? yeah, dont think you have to hold it if its not in the money yet, though. you can trade options back and forth regardless of where they are if you just want to take some profit now without risking not meeting the actual strike buy low sell high. options usually lag behind the underlying price, but you can make some real quick gains by flipping contracts you picked up on dips movax posted:I've lost track of all the SPACs I've thrown in on besides my rule of not spending over $11 — BTAQ is the Israeli start-up targeting one, right? Or just defense? Or both? yeah eToro or REE
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Jan 26, 2021 00:14
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leper khan posted:You have the right, but not the obligation, to purchase the shares if you bought a call. When you _sell_ a call, you have the obligation to sell shares at the given price. Right. https://robinhood.com/us/en/support/articles/expiration-exercise-and-assignment/ If you lost money on the option, it expires and nothing happens. If you made money on the option and you have the money to exercise it, RH will automatically do so. If you have multiple contracts that made money but only have enough to cover some of them, they will mix exercising shares and selling contracts as best as they can. If it made money but you don't have the money to exercise it, they will sell the contract an hour-ish before day close.
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Jan 26, 2021 00:14
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We I manage a small private investment fund/hedge fund shorted about $25K of GME on the open today to see what would happen across the course of the day, gently caress the WSB/Robinhood buyers.
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Jan 26, 2021 00:27
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