I still have a few grand sitting in my brokerage account from the last time I traded GME. Might jump back in and fuck a bit around this week.
got $50 left over after getting GME on a good dip. Any gamblers out there wanna pick a card for me? **edit** $25. Took a $25 gamble on a GTC order of POWW (ammo, inc) after seeing Academy today.
POWW has not been very good to me. At the same time I jumped into VSTO with the ammo shortage hunch, I grabbed POWW as well for the same reason. I bought it on the way up around $7, but it quickly hit it's peak just shy of $10 and has come down ever since. I had no reason to think it wouldn't stabilize at or above where I bought at the time, so now I've got some bags to hold there. You've got a much better entry point for sure.
options are one of those things that looks like something I could understand and wrap my head around, and by saying that I’m also 99% sure that if I were to ever attempt them I would get royally fucked. Basically, I think options are the equivalent of looking at a DIY project and immediately saying “this should be easy! Over in no time!”
The posts on WSB where retards try and play options/etc without understanding it, and end up losing 5 or more figures, is insane. I have no idea how they work or how to trade them, nor do I want to at this point. I'll just stick with the old "buy / sell".
and they do it on margin. Or with their 401(k). Or money that was supposed to pay for college next semester but they’re convinced there’s no way it can fail until it does
Game Stop hired Elliott Wilke, formerly with Amazon, to be their Chief Growth Officer. I hope the share price goes to $400.
They have hired a SERIOUS crew to come in and do some stuff. This very well may translate into a long hold stock. Basically sell it all at as close to the peak as you can, wait for it to crash back down, then reinvest long term.
Options are actually WAYYYYYYY easier to trade then buy/sell of a regular stock. The biggest reason people get wrecked is because of margin and delta/theta, which if you don't understand going in, is going to cause problems in trying to evaluate your position. The concepts are fairly straight-forward, but don't lend themselves to people who want to YOLO on options. The easiest way to explain options is, you are buying a contract that says you will own 100 shares of the stock at a given date for X amount of money, if you want, OR you can resell your contract to someone else before that date if someone is willing to buy it. You are also buying the contract with the right to not exercise the right to buy the shares at the end date in which case you only lose the money it cost to buy the contract and nothing more. It's a lot less risky and less expensive to trade options then it is to trade stocks and it can be a lot more profitable if you are confident in your knowledge of what a stock will cost in the future. It's why I've dumped a lot of money into $GME $50 put options with an October expiry date as I am fairly confident the stock will drop around those levels once the GME mania subsides a bit. The stock should not even be sniffing $100 let alone $200.
Someone had a BAD day. ‘This has to be one of the single greatest losses of personal wealth in history,’ says stock-market pro of Archegos margin call
Yeah, fuck that guy. This is how the system is totally rigged. The dude was caught insider trading so was barred from being a money manager ever again. He then set up a "family fund" (or something like that), and then proceeded to trade but had deals with the various banks that they retained ownership of everything he was trading, so he skirted the "over $100 million per year you have to report" law. Now there are a ton of banks that are left holding the bag, and they flash sold all his shit because he failed to make the margin call, and now banks like Credite Suise are out BILLIONS of dollars. But this is hilarious, because it now has all the market makers that are backing the GME hedge fund shorts scared shitless... you HAVE to think that the promises of "don't worry, we're the pros, they're the autists, we'll eventually win" just aren't going to be good enough. And that has already been shown by some of their updated short reporting stances/requirements. I have to say, I know fuck all about trading, but what I have learned over the last few weeks has been damn interesting, and watching the "rich guy's" almost comical reactions to what is going on is mind-numbingly entertaining.
this kinda entertainment is the reason I put skin in the $gme game. Even if it is just two shares. Worth it just to see the reactions and know that the more comical they get, the better it is for me. At a cost basis of around $160 each I’m not sweating if it goes down, but the more cards that crumble on the tower, there’s an actual likelihood that I might make some “buy a new gun” money off this.
I basically turned my $300 investment in DSCR into my AK in two days, so it is definitely possible. Unfortunately, that's been my only win. My near 2X profit in AABB has gone into the red at a -13% loss as it sank into another dip. So, the only thing to do is load up more shares tomorrow and wait some more.
someone mentioned $VSTO and I jumped on it and like it. And now that I’m finally leaving my house a bit and seeing what the reality is with physical stores and gun sales, I REALLY like it.