My sell order at 42‘069 also did not get filled!
Looking forward to another week chatting with you about if we should have exited this week (or not).
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https://www.reddit.com/r/AskReddit/comments/l7bl3z/comment/gl64yau
Make sure to time at the exit right tho 
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I’ve recovered my original investment but I’m deceiving myself and pretending to be rational so here are my thoughts.
Forgetting the covered call (100 shares at cost basis of $28.5, sold strike $55) which is still in place, my ”free position” was 40 shares @ $67. I averaged in at $52 and $82.
So far I have sold 10 @ $150 + 10 @ $325.
My plan is to sell the remaining 20 latest @ $500. I have a sell limit order in place for $450 just in case.
Whether the price gets to $400 anymore is another thing.
Against going to $400 are:
- possible trading limitations still in place at some brokers
- expensive options and limited buying power of retail in general
- some people cashing out because they were freaked out by Thursday and Friday
- short interest is lower
For going to $400:
- some trading limitations lifted
- bandwagon effect, people sticking it to ”the man”, and remaining FOMO of retail
- Friday’s close @ $325
- latest short interest data is not yet available
The $325 close was interesting because there was significant open interest (> 7k contracts) at the $320 strike. All of those and the below strikes were in the money. There is/was only one strike available above $320! Most of those calls are now exercised. If they were not appropriately hedged, this will result in a lot of shares changing hands and a potential gamma squeeze on Monday or Tuesday. If they were hedged and mostly bought back by market makers, it will result in a sell off by the same.
I will be watching the price action carefully on Monday’s pre market. If the price shoots up there it might be the best time to sell at least 10 of my remaining shares. The last 10 I will sell latest at $320. I’m not concerned about the covered call. That will very likely result in a nice profit and I can always keep those shares.
Finally, many people still say the shorts have not covered. I don’t believe that. Old shorts from the pre $20 days will have closes and new shorts will have have entered at high prices. The new shorts will have an appropriate hedge in place and are waiting for the price to tank.
NYSE will publish their bi-monthly short interest in the coming week but not before Tuesday (reporting deadline is Feb 2nd). Before the report we will only have estimations of SI (and the estimations have a down trend).
At the very best case scenario we have one week of speculation remaining. Once the report is out and if it shows significantly less SI, this bubble will likely burst.
I’m hoping at the end of it all we can all say (in true WSB fashion) ”Congrats and fuck you.”
P.S. That was way longer than I thought it would be. I’ve learned most of this on the go so I welcome you to poke holes in it if you can do so backed by data or some other reference.
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An intense noob question here:
Does the price of a companys stock in the US, affect the price of the European version of that stocks price?
In other words, if we play with the thought that the US stock value of GME goes up to 500USDollars, will the european Gamestop stock, GS2C(Xetra) reach the same price approximately?
Yes, otherwise it would be arbitraged away (that said liquidity/spread/etc. might be different)
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The pros and cons for a further rise or a collapse both seem equally on the table for the coming week. After such a rise it is easier to argue for a negative outlook, but I fail to recognise a clear consensus (and maybe my views are too biased at this point). Let’s see on Monday.
I have an average cost of slightly above 200, as I was fairly generously adding to this position throughout the rise this week. Since it is a rather large position at this point, I am very inclined to reduce my exposure if a downwards tendency emerges first thing at US open. But I don’t know how to decide during the european hours. Maybe not be glued to the candles and get some actual work done for once… 
I love it when a plan comes together 
And do you know who exactly are the end losers in this? Is it bunch of “corrupt rich guys” or pension funds?
Short selling GameStop at least makes some sense based on the fundamentals of the company. $300+ price has nothing to do with the fundamentals of the company. I am pretty sure that in general there are benefits to short selling to the market economy, even if it may be exploited in some cases.
Don’t worry, some short sellers are going to win big in the end (like the new people who started short from the 200+ level).
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Interesting article on short selling and how it is not all evil like Elon Musk would like you to believe.
Right now it makes sense but $300 per share isn’t where it started. Back in October-December timeframe it really didn’t make sense anymore - at least in the minds of enough people. GME was shorted already when the share price was at $4. Even when it was at $20 the stock was trading at half the sales (my memory may be off a bit but the order of magnitude is about right).
At that time there was no risk of bankruptcy and the valuation started making sense and more people started seeing the value in their turnaround strategy. Still it was heavily shorted just to make the original bankruptcy thesis work.
The story has since evolved to some sort of fight between good and evil. The reader can decide which is which.
P.S. This just happened. First there was the promise:
and then the legendary delivery.
Someone commented
See, when regular people make money in the stock market it gets put back into the economy.
Looks like more people were putting their gains back into the economy.
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Good morning everyone and welcome back to another week of extreme volatilty and utter disbelief. I wish you minimal interventionism from (insert your enemy of choice) and all the tendies in the world, lesssssgooooooo! 
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NZZ running an interview with Thomas Peterffy, founder IB, in German. Distinct opinion (retail investors not behind surge, fight between professionals, regulation needed to limit short-selling & short squeeze, IB restricted trading to showcase importance of regulation) and acute sales instincts, several times mentioning that IB is great and that they get 100 new Swiss customers per day at the moment.
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Quite is coherent to his earlier statements on TV. He might not be wrong in his assessment that it‘s big funds clashing with others rather than (mainly) personal investors. And his calls for regulation may be spot on as well.
Somewhat worrying is the explanation of what they did though:
- none of their customers had a big position in it
- it was not liquidity or capital requirements prompting for them suspending trading
- neither was is regulatory intervention
No!
- they took a one-sided arbitrary decision to intervene
- that he justifies as perfectly covered by the customer agreement
- they took the decision in (hopes of) collusion with other brokers
- and suggests there‘s likely more collusion among big hedge funds behind-the-scenes now
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eToro silently forcing arbitrary stop losses on user‘s GME positions without prior announcement. Users can’t even edit/cancel the strike price as they please. Also here on change.org.
They are not denying.
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Thanks for the news. This is frightening, brokers managing your assets without your consent. I guess we’ll at least get to trim some weed out of the pool of brokers.
All of this is fascinating, we are truly living in interesting times, be it a blessing or a curse.
Edit: wait, were those only leveraged positions or are there unleveraged people caught in the flow?
Edit2: wow! Reading some of those people, they’re reckless! “Hey, my broker just sold my shares without my consent, let’s use the same broker to buy the same shares again to keep the fight on!” How does that even make sense?
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BNS was long GME since september
https://insideparadeplatz.ch/2021/02/01/snb-macht-mit-gamestop-aktie-kurz-mal-44-mio/
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Hilarious, but on a second note not that surprising actually.
But just imagine being in that meeting at the SNB, when one trader proposed going long GME in September. “So, guys, this will moon, trust me, I say we yolo it all!”
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They just hold roughly the market cap. I also held some GME in my etfs.
Luckily my small cap value fund does a daily implementation and sold it a few days ago.
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