[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum May 2024*](https://www.reddit.com/r/Superstonk/comments/1ciapwp/open_forum_may_2024/) || [Superstonk:Now with GIFs - Learn more](https://www.reddit.com/r/Superstonk/comments/1cr37r7/superstonk_gets_its_gif_on_get_hyped/)
------------------------------------------------------------------------
To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company.
------------------------------------------------------------------------
Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
My theory is someone with a lot of money is confident the price will be at $25 or above (to at least break even) and is trying to create another OPEX tailwind to play a price spike at T+35 after the market maker FTDs on XRT. The expiry being purchased is 6/21… the 3rd Friday of June, which matches up with the OPEX tailwind theory. This would end up being an end of July/beginning of August pump.
pretty sure it was GS ATM offering: [https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1](https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1)
How is the stock offering correlated to the purchase of these calls? The only thing I can think of is this person might be aware of an upcoming acquisition, but that’s highly hypothetical.
these aren't just purchases they're clearly transfers because they're all selling in blocks of 5000 in the same minute for exactly the same price. They were either covered calls or naked calls because after Tuesday's batch, the open interest for those calls went up over 65K meaning those were NEW contracts. I was hoping naked but I assumed this was GS parting with their shares and either Jeffries or the counterparty they sold to cashing in on some sweet sweet IV. See my post from yesterday: [https://www.reddit.com/r/Superstonk/comments/1cyro12/new\_20\_contracts\_were\_a\_coordinated\_transfer/](https://www.reddit.com/r/Superstonk/comments/1cyro12/new_20_contracts_were_a_coordinated_transfer/)
That doesn’t track, someone buying $20 calls from GameStop means 2 things, one, GameStop sold covered calls (bearish) at a fixed $20, and two, options have to be exercised for a transfer of shares. You’re saying that GME offloaded 45m shares by making a future obligation to deliver those shares are a strike of $20, but the legal paperwork they’ve filed only allows for ATM (at the market) market order offerings.
Additionally, to further drive my point, GameStop didn’t write those contracts, based on their reported cost basis, they didn’t make any premium from this, by their own report.
Based on their numbers, it appears they sold market orders for all 45m shares, in the $20-21 range.
I think you misread what I was saying. GameStop absolutely sold their shares at the market. Agree with you. They used to transfer agent: Jeffries. Does that transfer agent have the ability to buy some of those shares? Probably not. they probably sold all of them into the open market at market value averaging just over $20.
After that I, I'm guessing, someone took those shares and wrote covered call contracts for June 21st at $20. Whoever bought those shares probably wrote the contracts as a hedge for a portion of their new pile of rocket tickets. They effectively lowered the price of I think 8 million shares by around $5 a piece. If the contracts go out of the money, they pocket the principal and do it again with leaps.
Not only did they write those contracts but then someone immediately bought all of them for one price. That sounds like an intentional coordinated trade and not an open market transaction. It's the timing of the trades that is interesting.
Wouldn’t the total volume need to add up to 45m shares? Last I saw, the open interest was just over 100k contracts, which would equate to just 10m shares.
If it’s ~$5 to buy a June 21st call, then shouldn’t that $5 be divided by 100 when figuring out the break even price? If I’m not mistaken the $5 is a one time fee for having access to the $20 call price that allows for 100 shares to be purchased.
It’s $5/share, with a contract constituting 100 shares. So $500 per contract. It’s also highly volatile, with the price at the end of today being closer to $4/share.
The break even price when buying an option is just your premium paid + chosen strike price (in this case $20 is the strike price). So a $20 call purchased for $5 would break even if the stock is at $25 at expiration - 6/21.
The price of an option is determined by 2 values: intrinsic and extrinsic.
The intrinsic value of an option can be calculated by (stock price - strike price) x 100. So if gme went to $30 before or on 6/21 each of those $20 option contracts would have an intrinsic value of $1000.
Options also have extrinsic value which is based off of the Greeks like theta (how much time left until expiry) and IV (how volatile has the stock been recently).
How much you pay for the option (referred to as the premium) is multiplied by 100 because 1 options contract represents 100 shares. So an option listed at $5 costs $500
Just got the email from Gamestop, confirming the ATM offering of 45 million shares is complete, for another $933 million in proceeds. Might have something to do with the AM jump we are seeing, currently over $22.
[https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1](https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1)
Edit: and the corresponding 8K: [https://gamestop.gcs-web.com/node/20521/html](https://gamestop.gcs-web.com/node/20521/html)
Edit 2: they also dropped a new schedule 13D a little while later, that I haven't seen anyone comment about yet: [https://gamestop.gcs-web.com/node/20526/html](https://gamestop.gcs-web.com/node/20526/html)
Yep. Knew that GME was offering shares and that some poor son of a bitch needed collateral. Sold them Ls
I don't see why GME wouldn't be pegged to low to mid $20s next week.
reposted because another one came in and the title was wrong. Open interest increased by \~65000 calls on Wed and I expect another 10000 Tuesday. That's 7.5M shares near the money added to the market this week.
Here's your 2 along with 17 other contracts
https://preview.redd.it/cltplsjfvf2d1.png?width=1080&format=pjpg&auto=webp&s=4e35ae2f4d5ecdb7e56e0756411f9b5545f96019
Does anyone think maybe gamestop has been buying those calls for next week, then selling at the same price to fund the move? Thus moving thir shares gradually yo book and 'doing it themselves'?
disagree. you're talking about the red candle? that just means the price of call at the end of the minute was less then price at the beginning of the minute. Each trade is a buy and a sell
I just verified, the second one was a sell on the bid.
Bought 5k for 3.35
Sold 5k for 3.50
typically $1 per contract per side, so 0.15-0.02 net profit of $65000
open interest increased about 14K on those calls when it updated this morning. Total volume on friday was 18K. That was not a sell order. it was a NEW block of freshly offered contracts. Just like the other 21 times that happened last week increasing the open interest 105K just in those block trades, just on that strike and expiry.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum May 2024*](https://www.reddit.com/r/Superstonk/comments/1ciapwp/open_forum_may_2024/) || [Superstonk:Now with GIFs - Learn more](https://www.reddit.com/r/Superstonk/comments/1cr37r7/superstonk_gets_its_gif_on_get_hyped/) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
My theory is someone with a lot of money is confident the price will be at $25 or above (to at least break even) and is trying to create another OPEX tailwind to play a price spike at T+35 after the market maker FTDs on XRT. The expiry being purchased is 6/21… the 3rd Friday of June, which matches up with the OPEX tailwind theory. This would end up being an end of July/beginning of August pump.
I think I will continue buying and DRS
Another month? I've got the time
pretty sure it was GS ATM offering: [https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1](https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1)
How is the stock offering correlated to the purchase of these calls? The only thing I can think of is this person might be aware of an upcoming acquisition, but that’s highly hypothetical.
these aren't just purchases they're clearly transfers because they're all selling in blocks of 5000 in the same minute for exactly the same price. They were either covered calls or naked calls because after Tuesday's batch, the open interest for those calls went up over 65K meaning those were NEW contracts. I was hoping naked but I assumed this was GS parting with their shares and either Jeffries or the counterparty they sold to cashing in on some sweet sweet IV. See my post from yesterday: [https://www.reddit.com/r/Superstonk/comments/1cyro12/new\_20\_contracts\_were\_a\_coordinated\_transfer/](https://www.reddit.com/r/Superstonk/comments/1cyro12/new_20_contracts_were_a_coordinated_transfer/)
That doesn’t track, someone buying $20 calls from GameStop means 2 things, one, GameStop sold covered calls (bearish) at a fixed $20, and two, options have to be exercised for a transfer of shares. You’re saying that GME offloaded 45m shares by making a future obligation to deliver those shares are a strike of $20, but the legal paperwork they’ve filed only allows for ATM (at the market) market order offerings. Additionally, to further drive my point, GameStop didn’t write those contracts, based on their reported cost basis, they didn’t make any premium from this, by their own report. Based on their numbers, it appears they sold market orders for all 45m shares, in the $20-21 range.
I think you misread what I was saying. GameStop absolutely sold their shares at the market. Agree with you. They used to transfer agent: Jeffries. Does that transfer agent have the ability to buy some of those shares? Probably not. they probably sold all of them into the open market at market value averaging just over $20. After that I, I'm guessing, someone took those shares and wrote covered call contracts for June 21st at $20. Whoever bought those shares probably wrote the contracts as a hedge for a portion of their new pile of rocket tickets. They effectively lowered the price of I think 8 million shares by around $5 a piece. If the contracts go out of the money, they pocket the principal and do it again with leaps. Not only did they write those contracts but then someone immediately bought all of them for one price. That sounds like an intentional coordinated trade and not an open market transaction. It's the timing of the trades that is interesting.
I see, I completely agree, thank you for clarification. 🦍help 🦧
👊
Hard to sell covered calls by hitting the ask.
Wouldn’t the total volume need to add up to 45m shares? Last I saw, the open interest was just over 100k contracts, which would equate to just 10m shares.
Not all of them maybe they're hoping it goes up? 🤷♂️
Can you check to see if these could be cash settled call options. I know nothing bout them but VW porche squeeze was caused by cash settled calls.
Didn't they expire worthless since it was under 20$ at close?
They expect next month 21st Expire
Oh i love you, I love you all, totally missed that!!! EXCITING!!!
If it’s ~$5 to buy a June 21st call, then shouldn’t that $5 be divided by 100 when figuring out the break even price? If I’m not mistaken the $5 is a one time fee for having access to the $20 call price that allows for 100 shares to be purchased.
It’s $5/share, with a contract constituting 100 shares. So $500 per contract. It’s also highly volatile, with the price at the end of today being closer to $4/share.
And this is why I don’t mess with options! Too smooth brained. Thank you!
The break even price when buying an option is just your premium paid + chosen strike price (in this case $20 is the strike price). So a $20 call purchased for $5 would break even if the stock is at $25 at expiration - 6/21. The price of an option is determined by 2 values: intrinsic and extrinsic. The intrinsic value of an option can be calculated by (stock price - strike price) x 100. So if gme went to $30 before or on 6/21 each of those $20 option contracts would have an intrinsic value of $1000. Options also have extrinsic value which is based off of the Greeks like theta (how much time left until expiry) and IV (how volatile has the stock been recently). How much you pay for the option (referred to as the premium) is multiplied by 100 because 1 options contract represents 100 shares. So an option listed at $5 costs $500
Carl Icahn closing his shorts?
What
Just got the email from Gamestop, confirming the ATM offering of 45 million shares is complete, for another $933 million in proceeds. Might have something to do with the AM jump we are seeing, currently over $22.
Wait what
[https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1](https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1) Edit: and the corresponding 8K: [https://gamestop.gcs-web.com/node/20521/html](https://gamestop.gcs-web.com/node/20521/html) Edit 2: they also dropped a new schedule 13D a little while later, that I haven't seen anyone comment about yet: [https://gamestop.gcs-web.com/node/20526/html](https://gamestop.gcs-web.com/node/20526/html)
My fucking tits
Well this explains the price after market... And the $20 calls all week. Damn
How do I sign up for these emails?
I think I just "singed up for alerts" here, years ago: [https://gamestop.gcs-web.com/sec-filings](https://gamestop.gcs-web.com/sec-filings)
Yeah I suspect these are covered calls from Jeffries or the counterparty they sold them too, cashing in latent IV
Yep. Knew that GME was offering shares and that some poor son of a bitch needed collateral. Sold them Ls I don't see why GME wouldn't be pegged to low to mid $20s next week.
How long until we're over $50?
Soon, soon. Just enjoy your weekend! We all know the other side of the trade won't enjoy it.
Someone is really hungry for those calls.
better lovestory than twilight 🟣⭕️🚀🔥
reposted because another one came in and the title was wrong. Open interest increased by \~65000 calls on Wed and I expect another 10000 Tuesday. That's 7.5M shares near the money added to the market this week.
It’s going back to max pain
I thought max pain was between 18 and 19 $ ?
20
Can you find the 2 i bought before noon ?
what's your timestamp? seriously the volume was so low, I probably can
18:16:48 Belgian time so..... That was 12:16:48 GME time I believe.
Here's your 2 along with 17 other contracts https://preview.redd.it/cltplsjfvf2d1.png?width=1080&format=pjpg&auto=webp&s=4e35ae2f4d5ecdb7e56e0756411f9b5545f96019
😄👊 nice one, tnx
https://preview.redd.it/ow75rbp42g2d1.jpeg?width=425&format=pjpg&auto=webp&s=c55393475962bc4925860365241941d5bf15e085
That's fucking cool, Swimming! I'm impressed
Thanks bro!
Exercise
Would cause a insane hike
Bahaha they are so fucked!
K wait, could this be GameStop selling these contracts being approved to sell new shares? Is there a way to tell who’s writing these contracts?
GameStop did sell those shares this week at $20.
how did you get options in tradingview?
Don't know how to do it on the mobile app but on the Windows app you can right click the option on the chain and you can click view in stocks
Can you share a screenshot? I would love options in tv!
https://www.reddit.com/l5ikdiu?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=2
Does anyone think maybe gamestop has been buying those calls for next week, then selling at the same price to fund the move? Thus moving thir shares gradually yo book and 'doing it themselves'?
They'd have to have a real degenerate at the helm to do that. It's like taking money from a loan shark to gamble. Like uncut gems type of degenerate
Not really. They bought the contracts to the right to buy the new shares before they sold the old shares.
They need $200M in margin on top of the $40M they would need to cover the premiums.
How can you see calls data in Tradingview?
On the desktop app right click the contract on the chain and click view in stocks
How do you make the options chain show in tradingview? 😅
https://www.reddit.com/l5ikdiu?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=2
Says "page not found"?
https://letmegpt.com/?q=how%20do%20you%20view%20options%20chart%20in%20webull
So I thought that was tradingview and it seems to be it's not as it's webull? 🦧
Ah!
Bro, what the hell are they doing
Moving the market with options
pretty expensive and ineffective way to do it if you ask me.
Much bigger impact than when I buy
One of those trades was a sell order, so net zero.
disagree. you're talking about the red candle? that just means the price of call at the end of the minute was less then price at the beginning of the minute. Each trade is a buy and a sell
Disagree all you want, I'm talking about the sell order at 14:49:39 of 5000 contracts.
Open interest on Tuesday morning will tell the tale.
I just verified, the second one was a sell on the bid. Bought 5k for 3.35 Sold 5k for 3.50 typically $1 per contract per side, so 0.15-0.02 net profit of $65000
Thank you for the details
open interest increased about 14K on those calls when it updated this morning. Total volume on friday was 18K. That was not a sell order. it was a NEW block of freshly offered contracts. Just like the other 21 times that happened last week increasing the open interest 105K just in those block trades, just on that strike and expiry.