Jump to content

The great Gamestop battle of 2021

gregintenn

By gregintenn
in General Chat

Recommended Posts

gregintenn Postus Maximus

gregintenn

Posted
  • Author
Posted (edited)
1 hour ago, AuEagle said:

Robinhood Reportedly Selling People’s GME Positions Without Warning, Investors Sue | ZeroHedge

Now that explains a lot. This is entertaining to watch. Not only did the hedge fund guys poo poo in their nest, so did RobinHood.

I’m guessing they’d all like to tale a mulligan right about now. 
 

What makes me nervous is that we all know this sort of thing happens all the time. What is the media hiding by covering this story wall to wall?

Edited by gregintenn
Link to comment
  • Replies 77
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Popular Posts

MacGyver
MacGyver
btq96r
btq96r

Bingo.  The internet has let a bunch of disenfranchised folks get inside the OODA loop of some heavy hitters in the financial world.  Disruption at its finest. The series of moves and counter mov

btq96r
btq96r

I am loving this in an admittedly unhealthy way.  It's akin to a plot twist in a show like Billions, just in a real world sample...but I know how much of a power keg it represents. The only ones

Posted Images

ReeferMac Prolific Contributor

ReeferMac

Posted
Posted
1 hour ago, 10-Ring said:

I shopped GameStop puts last night.  Cheapest one that I could find was over $10k.

You'd have to be a sucker to sell something like that right now... even a market maker like Citadel.

I've tried to option my way into a few of these types of events in the past, even with a market order, I couldn't get a full position. Exiting during the volatility was equally difficult.

One time I tried to fill the contract and the brokerage told me they couldn't get enough shares and just paid it out! 🤬

Link to comment
QuackerSmacker Established Contributor

QuackerSmacker

Posted
Posted
8 hours ago, GlockSpock said:

Shorting - Lets say I let you borrow my 100 shares of stock. It's currently worth $10.00/share. So that's worth $1,000. As soon as you gain possession of my stock, you sell it. You have $1,000. Tomorrow the stock goes down and it's only worth $5/share so $500. You buy back 100 shares and pay them back to me. You pocket $500, I get my 100 shares back. That's essentially a short.

You get screwed when you borrow my 100 shares at $10.00/share, you sell them, and then the next day the stock is worth $50.00/share. Now, you could wait a while (if I'm willing) to purchase the stock to pay me back. But if I demand it back, that's called a margin call. Now you have to spend $5,000 to buy back the shares to pay me back. You just lost $4,000 and have no shares. I have my shares.

Here's how I used to explain shorting to my customers.  Let's say you own a store that sells tires.  At 11:00am  you get a call from a customer asking if he can buy from you 4 new tires at X price.   X is $800

You say "Yes of course!  But we're busy until 2:00.  Can you come in then?"  He says yes.

You don't have those tires.  You call your tire buddy competitor and tell him you need those tires.  He quotes you $600 for immediate pickup.

You have just shorted the tires, hoping you could buy them cheaper, and you did, in this case.   If the best you could do was to buy at $900, you lost.   

It's really that simple.  You can sell something that you don't have.

Hope that helps.  Yeah, it's a little bit more complicated than that in the technical execution of shorting stocks, but that IS the basic concept.  Businesses sell products all the time that they may not have in inventory, hoping to "catch up" at a profit.  That's short selling.

 

Link to comment
Erik88 Postus Maximus

Erik88

Posted
Posted
18 minutes ago, ReeferMac said:

Anyone else taking a silver position this week?

 

I got some SLV at 27.5 this morning.

No but I did get in on AMC last week. Not enough to really hurt me if it drops but if it soars like GME I would be happy. The reddit guys are convinced that GME isn't done climbing yet. I've enjoyed their commentary. Several of them have used their earnings from GME to do charity work.

  • Like 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Go to topic listing

TGO HELPFUL LINKS

Outside of TGO...

TRADING POST NOTICE

Before engaging in any transaction of goods or services on TGO, all parties involved must know and follow the local, state and Federal laws regarding those transactions.

TGO makes no claims, guarantees or assurances regarding any such transactions.

THE FINE PRINT

Tennessee Gun Owners (TNGunOwners.com) is the premier Community and Discussion Forum for gun owners, firearm enthusiasts, sportsmen and Second Amendment proponents in the state of Tennessee and surrounding region.

TNGunOwners.com (TGO) is a presentation of Enthusiast Productions. The TGO state flag logo and the TGO tri-hole "icon" logo are trademarks of Tennessee Gun Owners. The TGO logos and all content presented on this site may not be reproduced in any form without express written permission. The opinions expressed on TGO are those of their authors and do not necessarily reflect those of the site's owners or staff.

TNGunOwners.com (TGO) is not a lobbying organization and has no affiliation with any lobbying organizations.  Beware of scammers using the Tennessee Gun Owners name, purporting to be Pro-2A lobbying organizations!

×
×
  • Create New...

Important Information

By using this site, you agree to the following.
Terms of Use | Privacy Policy | Guidelines
 
We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.