I blew a ton of money on some put options the other day. I got some March 19 $50 puts for SUPER cheap after last Friday when the squeeze didn't bump the stock up. Didn't think they'd be so close to being in the money this fast. If I had to value GME as a company going forward, I'd probably stick their price target in the $30-40 range if they show good earnings and a good recovery plan. With all of this going on, there is going to be a lot of eyes on their performance and their stock price is going to swing pretty big on rumors/news going forward.
The funny thing is even if that 800:1 ratio is way off, let's say it's only 5% of that number, so call it 40:1. If they separate paper from physical silver, we're talking about $1000 oz physical silver. Then people will care. If it's around 400:1, we're up to $10K oz silver and something like that would probably crash the world economy and people will have much bigger worries.
The problem is almost no one is capable of calling in for physical silver and if they are, it's apparent whoever holds those notes probably has some clause where you can only transfer so much at once and there's a whole slew of regulations on it. It's the big problem with holding paper against physical commodities. Your stuff is basically worthless because the pricing on it is "tied" to an asset, but the people who control the price on your paper don't have to mark it correctly. Same thing that happened in the housing bubble. Why price shorts according to the actual market when defaults go through the roof. Let's just sit on it until we are forced to actually move the market because anything else would be criminal.
All the people I see on WSB bragging about their $300 buy ins and what they've lost so far, it's hard to tell who's for real and who's just playing along.
I think I cleared around $8k after tax, so I'm happy. But yeah, my current position is down a couple grand. All good.
I saw something about "the $400 club." These idiots are, I'm guessing, the same type to put up more than they can afford to lose. Divorces, bankruptcies, loss of houses, and worse could well come from this.
https://investorplace-com.cdn.amppr...t-6-08-or-39-percent-more-based-on-fcf-yield/ @xrayvision , you still holding your NOK?
Ooof. When did you get out, how much did you lose? I still have all of mine, waited out that earnings report that came yesterday.
I lost practically nothing. The stock didn’t move much while I was in it. I was only playing around with a couple bucks for the lolz. I didn’t pay attention to the gme-amc-nok thing until after everyone already threw money in it.
We'll see where it ends up. I haven't sold yet, like I said it was expendable cash so whatever. AMC is the big letdown, while my DOGE is still more than double what I put in.
I managed to accumulate 100 oz of physical silver. Now I wait. It seems to be selling anywhere from $8-15 over spot right now, if you can find it.
The startup I worked for has been on a bit of a rocket ship since I left (and while I was there, but the share price was harder to pinpoint pre-profitability). On the one hand, it's great, on the other hand, roughly 2/3 of my entire net worth is now represented by that equity. It feels like an involuntary diamond-hand situation as I white knuckle this ride.
You faired better than I did at a start-up. We ran out of funding and got acquired literally days before we were broke. The acquiring company, where I now work, was extremely generous with what they paid per share/gave as an additional bonus, but it was never what it would have been if we went public (or just weren’t run into the ground by our narcissistic idiot of a CEO).
The second startup I worked for got acquired about a year after I got there. An extra $8k for the little equity I had vested is nice, but it's not life-changing money by any means.