Edit: Mean to reply to Definitely Not a Cop

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If DFV keeps converting all of his options to shares like its rumored he did last time, could he own a majority stakeholder position eventually?

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According to his screenshot yesterday, his current holding of 5 million shares + (120,000 call contracts, 6/21 expiration), could allow him to hold 17 million shares by the end of the month.

GreasenUSA said:

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Edit: Mean to reply to Definitely Not a Cop

According to his screenshot yesterday, his current holding of 5 million shares + (120,000 call contracts, 6/21 expiration), could allow him to hold 17 million
shares by the end of the month.

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Got ya. So it would take a few more rounds of this with him going all in each time before this is a real possibility.

Found a Reddit thread stating if he keeps every share he becomes the 4th largest shareholder of GME. I wonder if he would want to tie his hands with a board seat.

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"Here are GameStop's top five shareholders as of the end of Q1:

RC Ventures, an investment vehicle owned by CEO Ryan Cohen: 36.84 million shares.
Vanguard: 25.35 million shares.
BlackRock BLK: 22.61 million shares.
State Street STT: 8.28 million shares.
Geode Capital Management: 4.32 million shares.

With his five million share stake, Kitty is already the fifth-largest shareholder of GME, edging out Geode's 4.32 million share stake. He'd already be the fourth-largest shareholder if you count his options as 12 million shares."

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Definitely Not A Cop said:

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GreasenUSA said:

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Edit: Mean to reply to Definitely Not a Cop

According to his screenshot yesterday, his current holding of 5 million shares + (120,000 call contracts, 6/21 expiration), could allow him to hold 17 million
shares by the end of the month.

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Got ya. So it would take a few more rounds of this with him going all in each time before this is a real possibility.

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Yeah - over 300 million shares outstanding. It's still amazing to me that this company is considered "Mid-Cap". It's a manipulated micro-cap living on borrowed time. But, there's money to be made (and more likely, lost) on these huge swings.

At open I will be watching MMM.

It's right at psych $100, an important level for any stock, it's a natural strength/resistance. ($100.50 the overnight high is important as well and could be limiting)

If it gets above and stays above, I'll scalp the 100c (or 101c but this is HIGHHHH risk) as MMM usually moves about $1 in a day.

If it cannot hold $100 and dips back below I'll look to scalp the 100p as I'd expect the resistance has held and a fade is in play.

I'm using the 10min EMA's as my guide. if it's above the 34-50 EMAs then I'm leaning bullish, if it's above the 5-12EMA I'm willing to hold the play.

If it's BELOW the 34-50 EMAs I'm bearish and if its' below the 5-12EMA's I'm willing to hold the play.

My plays are fast and quick and thus I don't usually have this kind of time to explain them in detail.

GME trading already halted?

Yup.

What's changed in the past handful of years that has lead to multiple halts on the same ticker happen so often? I feel that used to be a rarity, now it's happening all the time.

And halted again...

I put $1000 just for ****s premarket on GME for gamble games.

Why do they halt stocks like this? I can understand something like insider trading but this guy "gambled" and won

Anybody know offhand how many times they halt before they stop trading for the day? Don't want to get stuck with this expiring 40c and get assigned

And halted a 3rd time...

McInnis 03 said:

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McInnis 03 said:

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Anyone watching anything specific this morning for Lotto Friday?

I was watching $COIN buy holy S they just flushed it so hard.

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TMDX gets an upgrade this morning and is holding
LYFT is the same situation.

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Now revisit this.

Markets were dropping after NFP was released. But TMDX and LYFT both received upgrades this morning and did not go down with market, this is relative strength. They should be watched to see if their strength is true.

Take a quick gander at their charts here 20 min in.

I might regret it later but got out of my $60 calls expiring today for a gain

Whew!

More TNA at 36.24. Not quite the bottom, but pretty close. Nice bounce already.

That odd dip on IWP yesterday after hours, as expected, bounced right back to normal this morning. Guess I got those shares super cheap.

Anyone know why stuff like that happens? It's not the first time I've seen it, but it's the first time I've actually seen one of my orders execute on that dip. Usually by the time you see it on Yahoo Finance it's too late.

Brian Earl Spilner said:

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More TNA at 36.24. Not quite the bottom, but pretty close. Nice bounce already.

That odd dip on IWP yesterday after hours, as expected, bounced right back to normal this morning. Guess I got those shares super cheap.

Anyone know why stuff like that happens? It's not the first time I've seen it, but it's the first time I've actually seen one of my orders execute on that dip. Usually by the time you see it on Yahoo Finance it's too late.

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Strange things happen during after-hours due to how thin the trading is. This time, it looks like it worked to your benefit. In my experience, the school of hard knocks has taught me to avoid:

- After-hours limit or stop orders
- Opening orders before official market open
- Good-Till-Canceled Orders, in general
- Trailing stops with too tight a range
- Waiting till option expiration day to close out longer-term profitable puts or calls

Definitely Not A Cop said:

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McInnis 03 said:

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Dan Scott said:

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WTF GME management

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Their job is to insure the long term success of the company, and raising money when teh stock is at these levels is the way to do it. I think they were sitting on $2B in cash after the last share offering.

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If DFV keeps converting all of his options to shares like its rumored he did last time, could he own a majority stakeholder position eventually?

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It seems to me, GME announced early on advice of counsel. Otherwise, they might have appeared complicit in any stock manipulation goin on. Probably a wise move, but they are also prudently raising capital when they "know" the company is over-valued by artificial means (memes?), giving them more runway to figure out their future operational plans.

It's basically a mess, but sometimes a free market works this way...

I am not touching this with a 1000-foot pole - it's not investable.

So GME tanks, starts recovering, and they pause trading again?

How can they get away with this?

Completely missed LLY today. Damn.

CC09LawAg said:

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So GME tanks, starts recovering, and they pause trading again?

How can they get away with this?

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FYI - most trading halts are automated triggers, so "they" decided the limits long ago via algorithms, and it may not be due to anything GME-related.

Hopped in for a small amount of shares on GME at $35.75 and stop at $34.50 just to see if they can get it to run a bit

McInnis 03 said:

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Completely missed LLY today. Damn.

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As a long time (happy) LLY holder, I'm a bit leery of their Alzheimer's drug potential. It may get choppier and give you another crack at it. It seems like the memory drug is setting up to be a disappointment in terms of approved usage. I'm just hoping that their GLP-1 market share holds up.

Incidentally, if it weren't in an after-tax account, I'd be churning covered calls like crazy, but don't want to take the tax hit if it gets called away. I've been reduced to buying protective puts at times (and always unsuccessfully, so far). My cost basis is $35.17 per share from late 2010, by the way. Any advice, McInnis?

McInnis 03 said:

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Completely missed LLY today. Damn.

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By the way, I appreciate your posts on LULU. I've been watching it since the drop but got distracted by making sure I exited some other plays on time. I took my eyes off LULU and she's had a good week. Lesson learned, never take your eyes off of LULU.

GME actually looking pretty strong. It's trading where it traded yesterday before the news of the livestream. Over 100M shares traded.

If they already completed the offering, the company has $12/share in cash and no debt. Stock floor is probably around $20.RK still has opportunity to make this pop. You can sell $20 puts expiring June 21 for $1 for 5% return.

And all RK has to say is "I like the stock" and this thing explodes. So you can buy now and the upside is much greater than the downside. Basically risking $15 to get $30 I think.

Dan Scott said:

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GME actually looking pretty strong. It's trading where it traded yesterday before the news of the livestream. Over 100M shares traded.

If they already completed the offering, the company has $12/share in cash and no debt. Stock floor is probably around $20.RK still has opportunity to make this pop. You can sell $20 puts expiring June 21 for $1 for 5% return.

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Very good point - I see the best GME outcome being that they operate kind of like a SPAC, and buy (with their cash on hand) the next big thing online gaming phenomenon (Roblox, Minecraft, and the like) to remake their company. I'd disagree that their floor is $20, as their core business is losing money at a pretty healthy clip. They need to make their move by year-end, IMHO.

South Platte said:

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McInnis 03 said:

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Completely missed LLY today. Damn.

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By the way, I appreciate your posts on LULU. I've been watching it since the drop but got distracted by making sure I exited some other plays on time. I took my eyes off LULU and she's had a good week. Lesson learned, never take your eyes off of LULU.

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Taking my eyes off LULU is never a problem.

I bleed maroon said:

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McInnis 03 said:

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Completely missed LLY today. Damn.

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As a long time (happy) LLY holder, I'm a bit leery of their Alzheimer's drug potential. It may get choppier and give you another crack at it. It seems like the memory drug is setting up to be a disappointment in terms of approved usage. I'm just hoping that their GLP-1 market share holds up.

Incidentally, if it weren't in an after-tax account, I'd be churning covered calls like crazy, but don't want to take the tax hit if it gets called away. I've been reduced to buying protective puts at times (and always unsuccessfully, so far). My cost basis is $35.17 per share from late 2010, by the way. Any advice, McInnis?

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So I'm far from one you should seek advice from BUT buying protective puts over and over would get really expensive over time IMO.

I wonder if you could sell covered calls, 40 days out, and significantly OTM.......should the price get close to exercise or ITM you could always buy them back and you'll likely pay less to do so than you would on a protective put.

The premium you accumulate (and theta decay you capture) over time would also soften the burden of the occasional ITM covered call you have to buy back.

I know people fear early exercise but this is rare except around the time of Ex-Div so be aware of those timelines.

GreasenUSA said:

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Edit: Mean to reply to Definitely Not a Cop

Quote:

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If DFV keeps converting all of his options to shares like its rumored he did last time, could he own a majority stakeholder position eventually?

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According to his screenshot yesterday, his current holding of 5 million shares + (120,000 call contracts, 6/21 expiration), could allow him to hold 17 million shares by the end of the month.

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he probably sold covered calls yesterday before close - and made a killing. (credit to my buddy AgShaun)

Halted again…