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What other tech stock to consider?
- Thread starter Sanny
- Start date
this guy bought a 1M of GME options 2 days ago
everything is so insane.
I was thinking about rolling my AMC September $7 calls to March or February to get more leverage and they are essentially worth the same
. The call options right now only go to $9 or 10.
bkp_duke
Well-Known Member
this guy bought a 1M of GME options 2 days ago
View attachment 631127
everything is so insane.
I was thinking about rolling my AMC September $7 calls to March or February to get more leverage and they are essentially worth the same
I would be selling that, now. Life-changing money there.
If he's still HODLing, that's balls of steel.
That dude made it big on Tesla call options from a few hundred thousand to over 20M. Who know how much he has now. He put 21M on call options 2 days ago. I don't know how they can sleep at night with all those options in play.
I’m not sure if my darling Virgin Galactic/SPCE - which some here have derided and I understand their reasons - is up as strongly as it is (+129% in January as I pen this) - because of the anti-short playing around right now throughout the market, because of a collective Chamath Can Do No Wrong mentality, because of a Tesla-like High Probability of Sustained Future Growth realization, or something else.
As a long-term investor, I certainly hope it’s 90% or so the last, <10% the Chamath Effect, and 0% the first. As someone who has been a vitriolically outspoken despiser of short selling for decades, I am on the high ground when I say that what we are seeing now is, nonetheless, one of the most irresponsible market activities - in fact, #1 by a wide margin - that has occurred in my lifetime. I’ll rank it as equal to the Tulip Bubble, which predates even me (not sure about Dad, though!). It is not “bound to”; it is guaranteed to end in tears. Good luck to all who are playing the GME hot potato game and may you not be the last one holding.
As a long-term investor, I certainly hope it’s 90% or so the last, <10% the Chamath Effect, and 0% the first. As someone who has been a vitriolically outspoken despiser of short selling for decades, I am on the high ground when I say that what we are seeing now is, nonetheless, one of the most irresponsible market activities - in fact, #1 by a wide margin - that has occurred in my lifetime. I’ll rank it as equal to the Tulip Bubble, which predates even me (not sure about Dad, though!
). It is not “bound to”; it is guaranteed to end in tears. Good luck to all who are playing the GME hot potato game and may you not be the last one holding.
I’m not sure if my darling Virgin Galactic/SPCE - which some here have derided and I understand their reasons - is up as strongly as it is (+129% in January as I pen this) - because of the anti-short playing around right now throughout the market, because of a collective Chamath Can Do No Wrong mentality, because of a Tesla-like High Probability of Sustained Future Growth realization, or something else.
As a long-term investor, I certainly hope it’s 90% or so the last, <10% the Chamath Effect, and 0% the first. As someone who has been a vitriolically outspoken despiser of short selling for decades, I am on the high ground when I say that what we are seeing now is, nonetheless, one of the most irresponsible market activities - in fact, #1 by a wide margin - that has occurred in my lifetime. I’ll rank it as equal to the Tulip Bubble, which predates even me (not sure about Dad, though!
SPCE started rising fast on Monday just like all the other heavily shorted stocks. It is #36 on the list of most heavily shorted stocks by short % of float. Since it isn't in the top ten, I suspect the price action is mostly due to hedge funds unwinding their short bets.
Personally I've never liked the whole concept of short selling. Elon was right when he called out short sellers. CEOs go to jail if they make material misrepresentations, but short sellers can lie their asses off all day long. Short sellers also often create the conditions that take a company down like they did on SolarCity or any financial stock (they effectively create a "run on the bank" by sowing FUD about the company - for solarcity, it increased their cost of capital to unsustainable levels). That alone should be criminal (it is no different in my mind to setting fire to a physical asset).
So I am thoroughly enjoying this turn of events. I hope WSB can navigate these waters and keep it up for a long while.
And....SPCE now SOLD at $57.18, net.
That gives me a very large hunk of cash; need to make sure I carve out some for the taxman but I wonder whether anyone has an opinonion of a company trading as "TSLA"?????
That gives me a very large hunk of cash; need to make sure I carve out some for the taxman but I wonder whether anyone has an opinonion of a company trading as "TSLA"?????
ByeByeJohnny
Active Member
SPCE is actually the number 2 most shorted on this list. I have no idea which numbers are correct.
AudubonB; your only hope for SPCE to make any money for real is that all those wsb guy actually make money and decide they want to go to space for a few minutes.
Well, since they're all zooming up into deep space right now, I guess there'll be no market left for Virgin Galactic?
I may - or may not - re-invest in SPCE once the froth has disappeared. But it's rather unlikely as it's more probable I'll be using the proceeds to raise my cost basis a teensy bit in TSLA.
I may - or may not - re-invest in SPCE once the froth has disappeared. But it's rather unlikely as it's more probable I'll be using the proceeds to raise my cost basis a teensy bit in TSLA.
Your post is 140% old.. ;-).. good on you, but once brokers re-open trading in these stocks, I’d be taking some off the table.
voyager
Active Member
Arcimoto buys titling three-wheeler company to build electric tilting trikes
Tilt is what a three-wheeler needs to avoid having a silly wide stance, like the Aptera has.
This activity has been going on for many years, but in much more limited quantities and visibility. I think what has happened and happened last fall with the SoftBank large high dollar +3B$ investments in the long options markets pulled back the covers on what is possible with derivatives and equity values. Historically, it was hard to hide since the options market volumes were much much lower. Today, the volume of options is much higher and so the ability to take larger and larger overall positions, and thereby increase the equity impact is higher. So, the jig is up on this type of manipulation on the down low, and we’re probably going to see SOME type of regulations over the medium term to either make it more visible and apparent and also somehow limit the opportunity. But, its not new but it was never this big, coordinated or visible.
ByeByeJohnny
Active Member
Oops, forgot to link to the list I meant. This is one many on wsb seems to be looking at.
High Short Interest Stocks
ok. After watching this video I just posted I think it is our duty as TSLA shareholders to be part of the Reddit army to take down these short selling scum like Citron etc. Im going to “invest” $20K into some of these stocks just to do my part. I’ll let you know which stonks once I figure it out.
ByeByeJohnny
Active Member
This is the best explanation of the whole situation I've seen. If you haven't already, post it over in the main thread as well. Deserves to be seen.
Everyone should watch this and then send it to anyone you know.
Of course it would best to stay away. $20k is typically 1/10 or less of what I would normally invest in a single stock, so it is really play money for me. I just want to say I helped bring down these assholes.
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OK I did it. About $7K in each of AMC, NOK and BB - these are other stocks that the WSB lunatics are recommending. As I say, I do this with a smile on my face, this is just for fun.
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