Every knee shall bow and every tongue shall confess

SPY is dumping. WTF

I've been studying this virus more than anything in recent memory and while I'm no bio guy, if I had to place bets on any medicines I'm going all in on Remdisivir and Tocilizumab (Gilead & Roche). Until I see differently, these meds when given properly can change the tide on this virus.

Wow so much GILD activity

TXAG14 said:

---

Some people just made a **** ton of money if they were quick on the trigger.

---

Is $5 considered a "s$%! load"? If so, I'm one of them! Flipped a few SPXL to buy lunch.

ehrmantraut said:

---

Just picked up CLB, Core Labs.

---

Not a bad day for you so far!

AMZN continues to be a beast and I'm still adding. I've been drinking the Koolaid, now I'm chugging it. Post corona it will fly even more. A lot higher ceiling than most think imo.

Some dude is buying millions upon millions of spy 110 calls with may 15 strike

This is affecting all the indexes. I wish I had kept some money back to be buying the dips today. But then again, it may take a day or two to shake this news off. This market is not logical.

Spy 110 calls?

AggiePeeps06 said:

---

Spy 110 calls?

---

Yep, deep in the money, $36 million of premium so far

Exsurge Domine said:

---

AggiePeeps06 said:

---

Spy 110 calls?

---

Yep, deep in the money, $36 million of premium so far

---

So help us amateurs out... why would someone do this?

Exsurge Domine said:

---

Some dude is buying millions upon millions of spy 110 calls with may 15 strike

---

What's the point of buying calls that far ITM?

Creating a synthetic long position can be cheaper than buying the actual underlying stock.

Aggie1391 said:

---

Exsurge Domine said:

---

Some dude is buying millions upon millions of spy 110 calls with may 15 strike

---

What's the point of buying calls that far ITM?

---

I have no clue, options are great for leverage, but by paying such a high premium you're really killing your upside, but also protecting your investment.....but why wouldn't you just buy the stock in that instance?

Stan Crowch said:

---

Creating a synthetic long position can be cheaper than buying the actual underlying stock.

---

Maybe an algo saw arbitrage or something

For those curious at home, that's a cool $17k per contract right now...

RSP715 said:

---

AMZN continues to be a beast and I'm still adding. I've been drinking the Koolaid, now I'm chugging it. Post corona it will fly even more. A lot higher ceiling than most think imo.

---

Remember when you could buy AMZN for $1900 this month...?

Exsurge Domine said:

---

Stan Crowch said:

---

Creating a synthetic long position can be cheaper than buying the actual underlying stock.

---

Maybe an algo saw arbitrage or something

---

Possibly

Over the last 2 years, INTC has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time.

I'm averaged down on INTC calls, so apologies in advance for breaking INTC streak in few hours.

n/m

Exsurge Domine said:

---

AggiePeeps06 said:

---

Spy 110 calls?

---

Yep, deep in the money, $36 million of premium so far

---

$89MM now, can someone help me understand this move???

Exsurge Domine said:

---

Aggie1391 said:

---

Exsurge Domine said:

---

Some dude is buying millions upon millions of spy 110 calls with may 15 strike

---

What's the point of buying calls that far ITM?

---

I have no clue, options are great for leverage, but by paying such a high premium you're really killing your upside, but also protecting your investment.....but why wouldn't you just buy the stock in that instance?

---

Someone wanted to buy 5MM shares without moving the market. The calls are so deep in the money that they are likely >99.5 delta.

SPY trying to go red. LOL

yeah that was easy money in retrospect. I remember trimming at 1,750 only to buy it back higher. I'm done with those trimming and trying to time it days. My shares are no longer for sale. This is like buying walmart in the 80s. The fed is going to keep pumping and pumping into the market and on the other side of corona we'll see an even bigger bubble.

Exsurge Domine said:

---

Aggie1391 said:

---

Exsurge Domine said:

---

Some dude is buying millions upon millions of spy 110 calls with may 15 strike

---

What's the point of buying calls that far ITM?

---

I have no clue, options are great for leverage, but by paying such a high premium you're really killing your upside, but also protecting your investment.....but why wouldn't you just buy the stock in that instance?

---

you can control twice and many shares for the same out of pocket cost.

texagbeliever said:

---

Let me return the favor I sold out of SDC then got back in at 6. So when it hits 5.4 I'll be buying more. So I suggest you place a limit buy at 5.

---

Almost there

La Bamba said:

---

SPY trying to go red. LOL

---

Seems like the floor of support is around $279.00

McInnis 03 said:

---

Exsurge Domine said:

---

AggiePeeps06 said:

---

Spy 110 calls?

---

Yep, deep in the money, $36 million of premium so far

---

$89MM now, can someone help me understand this move???

---

The $110 options were pretty much the first call option where the equivalent put option was $0.01.

Interesting to note, you often see huge OI at the "clean" numbers every so often, like the $250, $260, $270 etc. thats typically the brokerage houses positions to neutralize their risk to the sum total of all the day to Option day trades closer to the spot price.

Whats really interesting is that $110 is still far removed from where you see the large OI. Even the adjacent "clean" strikes like $100 or $120 have low to zero OI.

Also of note, despite the huge volume, there were already about 7,000 open positions on that option prior to this.

Always keep in mind that when ever there is volume, someone is buying, AND someone is selling. So, some big money folks thinking things go up. Another just sold massive covered call protection. Two sides of the same coin.

leoj said:

---

ClutchCityAg said:

---

Anyone have any good penny stocks they are speculating on right now?

---

Not a penny stock, but a small cap I've come across is CTEK. Healthcare cyber security play transitioning after divesting a non essential unit, so not EBITDA positive currently but will be. New CEO and just added more board members with good experience. Very small float, no debt on balance sheet, investor is stepping up to provide funding for further acquisitions to expand their reach into the market.

---

From 1.55 then to 2.14 today. I have not gone long yet but should have.

Rice and Fries said:

---

La Bamba said:

---

SPY trying to go red. LOL

---

Seems like the floor of support is around $279.00

---

Look at the chart. Made a 283 top, then a 282 top, then a 281 top and now it's testing 280. Lower highs and while the 279 is acting as a base, re-testing a base against lower highs normally leads to that base being broken. Let's see if it can buck the trend.

The release and retraction of that GILD was a calculated decision and criminal, imo. Market is spooked for today. Might as well open a beer.

La Bamba said:

---

Rice and Fries said:

---

La Bamba said:

---

SPY trying to go red. LOL

---

Seems like the floor of support is around $279.00

---

Look at the chart. Made a 283 top, then a 282 top, then a 281 top and now it's testing 280. Lower highs and while the 279 is acting as a base, re-testing a base against lower highs normally leads to that base being broken. Let's see if it can buck the trend.

---

Yep, really need it to close above 280 here to show something.