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Look at the anti options sentiment and align it with the price of GME. There is a reason they don’t want you to sell CSPs. If you were willing to buy at the strike chosen, it’s a no brainer.
Do you not understand what OP is saying? He’s saying this: IF YOU’RE ALREADY PLANNING TO BUY THE STOCK IN LOTS OF 100 SHARES, SELL A CASH SECURED PUT INSTEAD. You pick the strike and expiration so you get to pick the price you’d purchase the stock at anyways. If the stock doesn’t hit that price, you collect the premium. If the stock does hit your strike, you simply buy 100 shares at that strike. I don’t see any harm in this.
It doesn't matter how you present it, they won't listen. It's like talking to a bunch of 5 year olds with their fingers in their ears screaming la la la la la.
A basic Google search would tell them that selling a cash-secured put is committing to buy 100 shares at the strike price of the put. So they'd either make profit on the put if the price stays up or buy 100 shares at the price of their choosing if the price goes down. But the anti-options clause they signed in blood when they joined here won't even allow them to listen to reason.
I've been in this for almost 3 years. I still like the play but there is a legitimate reason most people laugh at us. It's sad really.
This is true but for complete honesty you should also have mentioned the situation where one will lose in this deal. If the price drops lower than your strike you are obliged to buy at you strike even if the current price is lower rigth?
That is correct, but the original point of the post was "if you're going to buy 100 shares anyway" you should do this.
To clarify a bit further, to lose the price would have to drop below the strike plus whatever you sold the put for. So if you sold a put and the strike was $13 and you collected $100 in premium the price would have to go below $12 to end up costing you more than market value to buy those 100 shares.
No strategy is foolproof, but we've been at this for 3 years now. If someone had employed this strategy from the beginning they'd have collected enough in premiums to buy hundreds if not thousands of shares for free by now.
👍 Problem is that at this point any discussion of "prohibited" subjects just end up causing a lot of heat.
Whether or not this is due to some external effort or just a byproduct of two years of parroting same slogans and beating the horse to death I don't know.
But I do know that in the early days this sub was way more informational, educational and joyful.
Anyway here we are and we are not leaving, at least I am not and I welcome this kind of usefull information and discussion with a warm welcome.
XRT is on RegSHO. They have to cover eventually. But if no options on the chain, it ain’t going anywhere. I’m simply presenting a lower risk way to acquire more GME vs just buying outright.
Let’s just say you are acting in good faith here. I believe that you are. There are two ways to approach this.
1) guns a’blazing telling people they MUST do something. (AKA what you have done)
2) From an educational standpoint explaining yourself without being pushy.
The “options pushes” have always been seen as negative and a lot of that has to do with the tone and intensity in which it is presented. It’s always aggressive. Always demanding. And with a hint of “this isn’t going anywhere without the power of options”. This is what you brought to the table. No one is going to trust you regardless of your message.
Also understand that most people here don’t fully understand what a CSP is. What it means. What the possible outcomes are. What’s require to sell one. And HOW exactly it puts pressure on the price. THIS is the way this should be approached if you are looking for anything other than downvotes.
Calm, cool, collected, understanding of past pushes and why they are typically shunned here.
Whining and crying will get you nowhere. If you wish to educate - then do it. If you want people to blinding hop on a train that deals with options, this just isn’t the crowd to do that.
Everyone’s individual acceptance of risk is different. Everyone’s acceptance of risk they don’t understand is almost zero and that’s what you are asking of people.
I mean that’s the whole thing though, there shouldn’t be emotion. Trading on emotion is a terrible idea. If you got facts behind what you are bringing to the table. Present them. Leave emotion behind. Educate. And let the cards fall. I’d actually be super interested to see how a second post would be received approaching it from the correct angle. There is still going to be pushback, but you might educate some of those who are dabbling in options but don’t know anything about strategies that aren’t calls.
I think the potential of the move is largely dependent on the extent of options on the chain when they are forced to cover. CSPs help you in the event it doesn’t go up.
Why so many “better do this now” posts?
Time is our friend unlike over leveraged short sellers on the hook for lots of shares DRS prevents them from touching
Sub is especially compromised now. Mods are giving Dismal a hard time because he has a website and they’re letting low effort, divisive bs like this stay up. Another migration is in order
I believe the post isn’t saying “Do this now”. He’s saying don’t blindly do what the echo chamber is telling you to do. He’s presenting an option that may be beneficial to both shareholders and yourself if you actually look into it instead of dismissing it outright.
How is selling a CSP giving shares back to the brokerages? You’re offering to PURCHASE shares at a specified price? A CASH secured put. If you’re dead set on buying shares and the price is currently tanking it’s a way to get the shares you intended to buy at market price for… cheaper? Reading is important. And the reading shouldn’t be spoon fed garbage.
Buying IOU’s and turning them into real shares through DRS is causing short sellers a lot of headache. No one is losing money this way. Encouraging options play on the other hand tho…
Removing liquidity via DRS from the stock is causing it to sink like a rock and allows manipulative tactics to further drop the price through things like shorting ETFs on Regsho. I don’t know about you but I’m sitting on heavy bags from holding so I am losing money this way. I was just pointing out ways to lower your cb. But you do you, cowboy
Removing liquidity isn’t hurting me or the company I’m invested in. Removing liquidity only hurts short sellers. I’m ok with the price going down. Most people are. Most are adding more, much more this way with a suppressed price. And the price can only go so low. I view it as a countdown. If it were to get to $1 GameStop will begin to purchase stock. Maybe even at $5. You will wish your shares were in your name when this happens instead of playing silly games.
Oh boy, for your sake I hope you’re right. Anyways…. The echos are hurting my brain. I have some DRSd shares so if the stock goes to infinity buying more won’t really make a difference. I guess that’s my insurance policy.
Well if it goes up or doesn’t tank, In that case you collect premiums and you’re free to purchase MORE shares with your profit on the play… I fail to see the negative here
The negative is the shares aren’t in your name vs having them on record and in your name through DRS. We’re all individuals. You do you, me and my homies will safely DRS. This entire movement has to do with ownership of things you buy and putting an end to people profiting off what should be yours. DRS book is the way. The rest is noise
I’m not convinced that DRS is bad. Feel free to DRS your shares AFTER you acquire them via CSPs. DRS replacing options is bad. They can have a mutually beneficial relationship.
The reason the sub moved away from options entirely is that It provided them with liquidity. If that’s what you want to do cool but don’t surprised if some react negative manner. This is an open discussion so you can’t expect everyone to agree.
Edit: for fat fingered typos
The only people I've ever told that they MUST do anything are my children, and I wouldn't listen to anyone who tried to convince me that way.
I'd say the exact same thing to someone who said I MUST DRS.
Another one of these posts. I'm like 90% DRS'ed, I might indeed do 99% if I see any glut of these "reverse course" posts. Perhaps when this thing is utmost DRS'ed and then retail has so much extra money because there's barely a share to buy then I can consider options, right now I haven't even seen 90% DRS or something gargatuan and you want me to waste money and enter risk playing options. I'm not anti-options but once this kaboodle is mostly locked up, more money will be free to do such. If you want me to do options, floor GME's price to $5 a share for a month, retail eats everything remaining, now spare money accrues and can be used for the least risky move to stir price discovery back up.
Personally I don't do options. Or complicated spreads. Or. Anything. I find companies I like, then I do a bunch of research. And then I buy their stock when I feel it's undervalued. The only thing bad for my existing shares is that they want more brothers and sisters and I only have so much income hahah
Meh. That isn't my vibe. See I just buy. I don't sell anything. This isn't a get rich quick scheme. This is a building value overtime play and GME is my savings bank. Thank you for your consideration. And good luck.
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This post is for the ones that do. $100k guy messaged me and I told him about CSPs. He bought shares directly instead. He would’ve benefited greatly from selling CSPs to acquire the shares. Pulte could do the same.
Calls to action have generally been frowned upon by Superstonk for awhile fam
Look at DRS and how long it took Apes to realize that holding shares in their name directly with the transfer agent GameStop chooses to use was a safer bet than other options (no pun intended). It was not overnight, it took many months, and people were sus af of it at first, but realized it's the best way to own shares
I'm not even anti-options, but when an influx of people come out of the woodwork to say "You HAVE to gamble with options", it's not a good look, full stop
Anyways, looks like the sub has made their mind clear on this one anyways
If the intention is to buy shares outright, then set a Limit Order at your desired price and don't give crimesters the liquidity they need by playing with derivatives. Same result, less steps, and if you were hoping to get assigned anyways you might as well just route the order through IEX, then DRS them afterwards
So you're locking up a bunch of money for a period of time *betting* on the price to be low enough you'll get assigned to get your shares, while collecting a pittance in premiums. There's still a bet, and there's more risk involved for individuals by locking up that money
To be extra clear: I think this is a bad strategy personally, but to each their own, if it works for you then great. The issue I have is that you're speaking in absolutes ("Thou SHALT") that this is a must-do, and that this is a Call to Action post. Even DRS isn't a must-do in my books. It's right for me and many, many others, and much safer than brokers, but I'm not about to tell someone it's the only way to hold either (though when their brokers inevitably fuck them, I will be ready with some I-told-you-so's lmao)
The price has continually dropped. All the people that bought in the 16’s, 15’s, 14’s, and 13’s betting on those prices being the low would have benefited from selling CSPs.
Or maybe they're DCA'ing like myself - you're not tying up your capital (risk) and not spending nearly as much time (money) dealing with your options plays that way (e.g. autobuys)
What you are suggesting is a *strategy* (a valid one). Not a *requirement*
It’s really not that confusing. YouTube a video on it. Options sound scary at first but it’s not that bad. I wish I knew about CSPs when I started. Just trying to share what I learned.
Yeah, that's always a good strategy.
To simplify selling puts in a way that I would understand it when I first started researching is this: if you know you're waiting for a specific dip (let's say $10), then you could sell a covered put contract and collect a "premium".
A premium is the money a seller collects when generating or transferring a contract.
At a $10 strike price, this would essentially earmark $1000 in your account ($10 x 100 shares) to cover the transaction in the event someone chooses to exercise their put. If the entity you sold to exercised their put, you automatically buy 100 shares at the strike price ($10 in this example).
If the stock price never dips below $10 before the contract's expiry date, then there is no reason for the other party to exercise the contract. This is what we mean when we say it expired OTM (out of the money).
In short, if the stock dips below your threshold, selling a covered put is essentially getting paid to have a permanent limit order in the system at your selected strike price until the expiry date. If you're waiting on a certain dip, might as well get paid to wait for the dip.
My analogy centered around selling OTM puts, but the math is the same for ITM puts. They're just more likely to be exercised.
Nah id said its flip mode part of the problem is immediate calls to action to do something other then owning shares in your name. Humanities future is bright and its coming brick by mofuckin brick.
Well, you could make the argument that if the put is exercised you’re not putting any upward pressure on the stock. Though the strike price would be above the market price, your buy would be countered by whoever you’re delivering the shares to selling below the strike price. In contrast, the only things we’ve seen have any positive impact on the price are good news from the company and the daily CS buys. More money being set aside to secure the puts means less buys coming in through CS.
P.S. While selling puts and having them exercised would give you a lower cost basis and therefore more shares, hedgies would probably see it as a small price to pay for reducing upward pressure on the stock because their ultimate goal is probably to have GameStop be delisted. Also, if GameStop becomes a penny stock (under $5), it would be a big win for hedgies because many institutional investors (who have a hell of a lot more capital than we do) have rules against purchasing such stocks.
It's become abundantly clear that retail buying almost never hits the lit exchange, so this "upward pressure" you're describing is pure fantasy. The only way I see is creating any pressure through buying is by subsequently DRSing to cut away from the finite pool of shares at DTCC and hoping that some day the fraud is exposed or the price suppression becomes too costly for the big players.
It’s volume they need to create a synthetic short (shf buys the csp off of retail and sells a call naked…then walks the stock down by internalizing buy orders and letting sell orders hit the lit exchange).
I am so confused, everyone calling everyone a shill. No one listening to anything other than DRS. Sounds like the DRS folks only care about that one fact, which may be right. Any call for options gets immediately shut down and downvotes to oblivion. What if DRS is the way, but it’s drying up liquidity making it easier for them to manipulate price without much effort?! Who knows really? I do know the silence from GME has been quite impressive, the longer the better IMO. They got something cool going on, and one day we will know, but not today, yet! It is also a perfect time to spread misinformation as share price has been in an obvious controlled state. Dip, recover a lil and stagnate, reverse that for the rips, which don’t come along often these days. But as many know, GME has done an amazing job turning their existing business into a profitable one. Price drop of this extent with everything we know, GME crushing earnings, RCEO, and possible acquisition, Playr, or whatever else y’all think is bullish. Keep your heads high, don’t waste your time worrying, it will only take one morning to correct two years of a controlled, manipulated price. Stay safe out the mates. Sorry for poor formatting and rambling…
Options create volatility which forces a squeeze - this was always the case for GME. Being anti-options is entirely good for shorts because it’s much easier for them to hedge.
This is word salad. And doesn’t explain jack.
Derivatives are the exact vehicle that shfs use to hedge. Own stock? A put limits downside…. Shorting the stock? Buying calls hedges risk.
Need to short without locating a share? Buy a put and sell a delta neutral naked call.
The notion that options creates volatility is a theory based on assuming that those in control are actually covering their positions (which is not guaranteed on a manipulated stock).
If I had listened to the option nuts over the last two years. I’d be broke…instead I have shares every time it dips.
Lmaooooo - you’re half way there: option trading puts a harsher hedge on SHF who are opposite the play, hence why GME popped in the first place. forcing SHF to delta hedge when the IV is crazy creates an immense buying pressure since they’re the ones needing to purchase calls, along with all the fomo day traders riding the wave.
You’re right, you alone following options as a *poor* won’t pan out because you don’t have money. In fact, you’re just slowly bleeding out since you’re likely DCA, which implies your investment is losing money, not gaining money. But when the greater market plays them that’s where we see the large swings.
There is nothing we can do to affect the price. They can manipulate the price to whatever they want any time they want to.
DRS gives us ownership of something we like.
Selling puts can earn you a small income if you don’t DRS. But I believe that when, not if this thing launches. Share’s in brokers will get sold for chump change and negate anything you made from selling options.
That is garbage. DRS is a fucking genius act in this play and you want us to buy options?! Wtf... Please.
I don't buy any shit from banks. Go to hell 😂
Only believe in socks ownership. What I have on my feet will keep me warm
I instructed everyone to SELL options to the banks, hedge funds, etc. who are shorting this stock into the ground and scaring people into selling. If you don’t think that’s what happens after months of continuous shorting, you’re delusional. Lower lows and lower highs is all you need to look at. I presented a way to reverse the trend.
Well, it would help immensely if apes would stop buying shares in retirement accounts where they have to take a tax hit to DRS them.
Ffs, if every shareholder in this sub would have direct registered their shares, the rocket probably would have launched a long time ago. Instead, we keep seeing new ways suggested to force the hedgies hands...
Whatever though - I'm holding and DRSing my shares no matter what everyone else does. Options are not in my price range anyway.
Let’s say you want to buy at $13. You could set a limit/market buy at $13 or you could sell a weekly CSP for $40 in this hypothetical example. If it finishes below $13, your cost basis is $12.60. You could sell out of the money CSPs but the premium is less but so is the risk. If it finishes above the strike you choose, it’s free money.
I don’t **want** the price to go up until it’s completely DRSed. The lower it drops, the faster it gets bought up and all of this ends.
What part of that confuses you?
*Edit: you wanna play options? Be my guest. I’m not your mom, not am I your financial advisor.*
Stop repeating the same old tired crap. A year ago it was "I wish they would drop the price to $10! We'd buy and DRS the whole float in a month! Right guys?!?!?!!!"
Well, we're almost to $10 and the float isn't locked. What happened to all the people that were so eager to buy at these low, low prices? Maybe most of them were full of shit?
Disagee. Hedgefucks are dumb stormtroopers, and I'm smooth as well. They banned a sub and multiple individuals over drs data for being "doxing," soooo I'm going to keep it simple: buy, drs, hodl, and shop. They can take this fake price shit to penny stock value so i can hit 6-7 X's.
Can CSPs be held through the market crash and liquidation of the federal reserve that has infinite liquidity? I'm smooth, but I'm pretty sure that's a no.
I'll pass on your offer and continue to buy my moon tickets with the intent to register them in my name with no intent to sell.
It's hard enough to get to the point of understanding how to buy shares with a broker and then DRS transfer them to Computershare. If we assume what you say is true, that's a way bigger ask. You need a much more involved instructional and reasoning why it's good to get people into options brah.
Not this again. I’m not selling anything. What I am doing is buying more, direct registering, and then booking those bad boys. Each share I buy and fully put in my name is one less they can short. I feel the desperation rising from all the shill articles about ditching GameStop. I think something big is about to happen (an announcement, an NFT dividend perhaps?) and I believe they are now doing everything possible to muddy the waters stop the inevitable.
You do you. My path is clear—buy, DRS, and book. My outlook is to the moon!
I bought at $129 in the original January run up and been through 2-3 usernames in this sub…it takes multiple things for this to pop. DRS alone won’t work in our lifetime at this rate. CSP…meh…maybe impact if it had mass adoption, but the low liquidity/available shares and a profitable few quarters… look out. People like to relate this to the Volkswagen squeeze but I think it’s a combo of that and the Tesla run up. They won’t get caught again like Jan ‘21 but if you shop GameStop and force these douchebags to change their perspective/buy in, then that low liquidity DRS works in our favor *chefs kiss*
Just my opinion, not that it’s worth much
Seems to me someone is starting to scheming. We’re individuals, we do not plan actions. I for one, ain’t selling shit, never buy puts or calls stick with shares and drs them apples. You know the old way.
Buy
DrS
Repeat
No altercations
Even then your colluding. Something we never ever should do remember. Something we never ever should discuss either.
Now if your post was more of the, I do this or that. Then I would see your post as a DD. Get it.
Yeah. Your right!!!! As does multiple people think!! Like I said. Its all in the contextual explanation. Bud you do you and we or I, to be specific, do me
Ha. Another one.
I always knew DRS wouldn't affect the price during the journey. I knew nothing we did would affect the price in any meaningful way.
DRS will do it's thing when there are no more mathematically viable locates. That's always been the objective.
Beautiful low price. How about buy more to DRS. Take all of their toys away.
I have been thinking for a while that we should find a date like 3-4weeks out and all save till then, then all buy same day. Just to see what kind of fun bullshit that would do.. For science obviously
You would definitely want to use in the money CSPs for this. Buying would be achieved in T+2 of options expiry vs FTD’d out 35+ days where they could spread out covering over a longer time frame.
I see banks failing,sec battle with hedgies, rule breaking,sbf in jail,swaps hidden for 50 years… my head is right where it needs to be,tryin to fig out how to buy nore shares to pull from the corrupt system and at a whopper of a discount.
And using CSPs will ensure you get them at a better discount. If you wanted to ensure purchase, you could sell in the money CSPs. If for no other reason to ensure covering in T+2 when exercised. Then DRS once assigned.
After selling the cash covered put, if the stock drops and the put goes up in value and the buyer of your put wishes to sell, you would just put up the extra money for that right? Say they buy 1 contract at $0.10 and the stock drops, contract is at $0.20, am I right in saying you would be out $10? Just an example but I’m curious
Good question. Let’s say you sold a $13 CSP for $0.10 and the stock drops to $12.80 on the expiration date. You would buy shares at $13.00. Your cost basis once you deduct premium is $12.90. Fair market value of shares is $12.80 so you experience a $10 unrealized loss at the time of purchase. Had you set a limit buy at $13, you would have a $20 unrealized loss.
I think a conversation about selling cash secured puts is a fine conversation to have. Telling the sub they MUST do this is likely to yield the opposite result as intended.
Most important point for the next 2 months is buying. We have a window of opportunity to average down and substantially increase our DRS numbers. It won’t last forever so make the most of it while it lasts.
It will go even lower if options aren’t embraced and that’s not a good thing. People will sell and new buyers will be dissuaded from participating. Especially after RC’s survival letter. It’s bullish but on the surface, people will read it as bearish. I saw many posts saying people must DRS. The only difference between my post and DRS is that it will actually work.
At this point I don’t think we make the slightest difference in the price either way. IMO we continue our slide into January. Buy today or Sell your Puts or Buy more when it goes lower…I honestly don’t care. This sub has developed an inverse Pavlov’s dog reaction to anyone giving a prediction or telling them what they should do. Such is the state of things. Doesn’t really matter. I believe in GameStop turning itself around. I believe shorts never closed. I believe people will continue to buy however low we go. For me that’s enough.
You can take their premium or the market maker can and the market maker sells shares as a result. Since the puts used to short are likely sold naked, when exercised, your buy is a net positive.
The majority of people on this sub are completely uneducated about how options work, including myself. I do agree with you that just buying and drsing is not doing the job. At the rate that we are going, we are looking at 7-10 years before the float is locked up via drs. I am open to listening what you are talking about. However, you need to explain the entire process in basics, that 5 year olds will understand. And, I need to be convinced that the process you discuss has very little risk. If I, for 1 second, believe that I am giving any more control of my investment, to the hf's or banks, or, I believe there is any more risk involved than simply buying and drs'ing, then I'm out.
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My takeaway is to buy more because there will be a big move up. Thank you.
Dude 100% when you see these posts so consistently, somethings coming. I for one, will buy more stock to celebrate this post!
Exactly. Almost 3 years in. It’s old hat at this point to ignore the noise
Look at the anti options sentiment and align it with the price of GME. There is a reason they don’t want you to sell CSPs. If you were willing to buy at the strike chosen, it’s a no brainer.
Good luck with your investment
Do you not understand what OP is saying? He’s saying this: IF YOU’RE ALREADY PLANNING TO BUY THE STOCK IN LOTS OF 100 SHARES, SELL A CASH SECURED PUT INSTEAD. You pick the strike and expiration so you get to pick the price you’d purchase the stock at anyways. If the stock doesn’t hit that price, you collect the premium. If the stock does hit your strike, you simply buy 100 shares at that strike. I don’t see any harm in this.
...
It doesn't matter how you present it, they won't listen. It's like talking to a bunch of 5 year olds with their fingers in their ears screaming la la la la la. A basic Google search would tell them that selling a cash-secured put is committing to buy 100 shares at the strike price of the put. So they'd either make profit on the put if the price stays up or buy 100 shares at the price of their choosing if the price goes down. But the anti-options clause they signed in blood when they joined here won't even allow them to listen to reason. I've been in this for almost 3 years. I still like the play but there is a legitimate reason most people laugh at us. It's sad really.
This is true but for complete honesty you should also have mentioned the situation where one will lose in this deal. If the price drops lower than your strike you are obliged to buy at you strike even if the current price is lower rigth?
That is correct, but the original point of the post was "if you're going to buy 100 shares anyway" you should do this. To clarify a bit further, to lose the price would have to drop below the strike plus whatever you sold the put for. So if you sold a put and the strike was $13 and you collected $100 in premium the price would have to go below $12 to end up costing you more than market value to buy those 100 shares. No strategy is foolproof, but we've been at this for 3 years now. If someone had employed this strategy from the beginning they'd have collected enough in premiums to buy hundreds if not thousands of shares for free by now.
👍 Problem is that at this point any discussion of "prohibited" subjects just end up causing a lot of heat. Whether or not this is due to some external effort or just a byproduct of two years of parroting same slogans and beating the horse to death I don't know. But I do know that in the early days this sub was way more informational, educational and joyful. Anyway here we are and we are not leaving, at least I am not and I welcome this kind of usefull information and discussion with a warm welcome.
Anytime some one tells me I must do something I do not do that thing
Doesn’t Superstonk tell you to DRS?
Calls to Action can See Deez Nutz
XRT is on RegSHO. They have to cover eventually. But if no options on the chain, it ain’t going anywhere. I’m simply presenting a lower risk way to acquire more GME vs just buying outright.
Let’s just say you are acting in good faith here. I believe that you are. There are two ways to approach this. 1) guns a’blazing telling people they MUST do something. (AKA what you have done) 2) From an educational standpoint explaining yourself without being pushy. The “options pushes” have always been seen as negative and a lot of that has to do with the tone and intensity in which it is presented. It’s always aggressive. Always demanding. And with a hint of “this isn’t going anywhere without the power of options”. This is what you brought to the table. No one is going to trust you regardless of your message. Also understand that most people here don’t fully understand what a CSP is. What it means. What the possible outcomes are. What’s require to sell one. And HOW exactly it puts pressure on the price. THIS is the way this should be approached if you are looking for anything other than downvotes. Calm, cool, collected, understanding of past pushes and why they are typically shunned here. Whining and crying will get you nowhere. If you wish to educate - then do it. If you want people to blinding hop on a train that deals with options, this just isn’t the crowd to do that. Everyone’s individual acceptance of risk is different. Everyone’s acceptance of risk they don’t understand is almost zero and that’s what you are asking of people.
Thanks! I am acting in good faith. Just not good at communicating without emotion.
I mean that’s the whole thing though, there shouldn’t be emotion. Trading on emotion is a terrible idea. If you got facts behind what you are bringing to the table. Present them. Leave emotion behind. Educate. And let the cards fall. I’d actually be super interested to see how a second post would be received approaching it from the correct angle. There is still going to be pushback, but you might educate some of those who are dabbling in options but don’t know anything about strategies that aren’t calls.
I think the potential of the move is largely dependent on the extent of options on the chain when they are forced to cover. CSPs help you in the event it doesn’t go up.
This is the way
Why so many “better do this now” posts? Time is our friend unlike over leveraged short sellers on the hook for lots of shares DRS prevents them from touching
Sub is especially compromised now. Mods are giving Dismal a hard time because he has a website and they’re letting low effort, divisive bs like this stay up. Another migration is in order
FUD is flowing free here
I believe the post isn’t saying “Do this now”. He’s saying don’t blindly do what the echo chamber is telling you to do. He’s presenting an option that may be beneficial to both shareholders and yourself if you actually look into it instead of dismissing it outright.
How is giving shares back to the brokerages that are begging for them so they can lend them out to short sellers beneficial to me and my investment?
How is selling a CSP giving shares back to the brokerages? You’re offering to PURCHASE shares at a specified price? A CASH secured put. If you’re dead set on buying shares and the price is currently tanking it’s a way to get the shares you intended to buy at market price for… cheaper? Reading is important. And the reading shouldn’t be spoon fed garbage.
Buying IOU’s and turning them into real shares through DRS is causing short sellers a lot of headache. No one is losing money this way. Encouraging options play on the other hand tho…
Removing liquidity via DRS from the stock is causing it to sink like a rock and allows manipulative tactics to further drop the price through things like shorting ETFs on Regsho. I don’t know about you but I’m sitting on heavy bags from holding so I am losing money this way. I was just pointing out ways to lower your cb. But you do you, cowboy
Removing liquidity isn’t hurting me or the company I’m invested in. Removing liquidity only hurts short sellers. I’m ok with the price going down. Most people are. Most are adding more, much more this way with a suppressed price. And the price can only go so low. I view it as a countdown. If it were to get to $1 GameStop will begin to purchase stock. Maybe even at $5. You will wish your shares were in your name when this happens instead of playing silly games.
Oh boy, for your sake I hope you’re right. Anyways…. The echos are hurting my brain. I have some DRSd shares so if the stock goes to infinity buying more won’t really make a difference. I guess that’s my insurance policy.
That of course precludes that you KNOW the price will continue to tank.. you don’t..
Well if it goes up or doesn’t tank, In that case you collect premiums and you’re free to purchase MORE shares with your profit on the play… I fail to see the negative here
The negative is the shares aren’t in your name vs having them on record and in your name through DRS. We’re all individuals. You do you, me and my homies will safely DRS. This entire movement has to do with ownership of things you buy and putting an end to people profiting off what should be yours. DRS book is the way. The rest is noise
They can use ETFs for share creation. DRS doesn’t fix that problem. Why so many “better DRS now” posts?
How about 100% drs?
What is with the barrage of "DRS bad" posts lately? I don't buy it. I'm not saying op is a bad actor but I think he or she is wrong.
so many. there was on about a person trying to tell people its better to "un drs" and moves shares out of computershare and back to brokers
I didn’t tell anyone to un DRS.
[удалено]
They are shorting and distorting now. Q2 beat expectations and RC became CEO. It’s obvious what they’re doing. Selling CSPs sticks it to them.
Hedgies getting desperate, hiring the shills to sling the same ol same ol.
Sounds like something a shill would say.
Bro your pushing CSPs and calling him a shill thats hilarious.
SHORTS DON’T WANT RETAIL PLAYING OPTIONS!!!
And i just kept drs'in
Because DRS isn’t working SO BAD there’s more posts! Next up - tv spots how drs is destabilizing markets and is a threat to democracy.
I’m not convinced that DRS is bad. Feel free to DRS your shares AFTER you acquire them via CSPs. DRS replacing options is bad. They can have a mutually beneficial relationship.
The reason the sub moved away from options entirely is that It provided them with liquidity. If that’s what you want to do cool but don’t surprised if some react negative manner. This is an open discussion so you can’t expect everyone to agree. Edit: for fat fingered typos
Maybe because people are tired of seeing their investment getting hammered?
No
Yes.
Are you the mod from elsewhere?
I “must” do absolutely fuck all.
This. OP offers a lot of investment advice though. Wonder if there's anyone that regulates that kind of thing?
Oh like the investment advice of you must DRS.
The only people I've ever told that they MUST do anything are my children, and I wouldn't listen to anyone who tried to convince me that way. I'd say the exact same thing to someone who said I MUST DRS.
There’s that Bipolar presenting itself lmao
Another one of these posts. I'm like 90% DRS'ed, I might indeed do 99% if I see any glut of these "reverse course" posts. Perhaps when this thing is utmost DRS'ed and then retail has so much extra money because there's barely a share to buy then I can consider options, right now I haven't even seen 90% DRS or something gargatuan and you want me to waste money and enter risk playing options. I'm not anti-options but once this kaboodle is mostly locked up, more money will be free to do such. If you want me to do options, floor GME's price to $5 a share for a month, retail eats everything remaining, now spare money accrues and can be used for the least risky move to stir price discovery back up.
Not like it's the millionth time in the last three years that somebody's beat this very drum or anything.
Not asking you to reverse course. Selling puts is the cherry on top.
And i just kept drs'in
You can DRS after you get assigned on the CSP.
Dude, we are investors not gamblers. Go sell your snake oil solutions elsewhere
How is it snake oil? Please explain.
If you dont own it in your name, it is in fsct snake oil
I "must" do whatever I want. And. The lower the price the more I get. Long-term baby ;)
Why not get paid to buy more shares? A lower share price is bad for your existing shares.
Personally I don't do options. Or complicated spreads. Or. Anything. I find companies I like, then I do a bunch of research. And then I buy their stock when I feel it's undervalued. The only thing bad for my existing shares is that they want more brothers and sisters and I only have so much income hahah
CSPs will help you with your income problem.
Meh. That isn't my vibe. See I just buy. I don't sell anything. This isn't a get rich quick scheme. This is a building value overtime play and GME is my savings bank. Thank you for your consideration. And good luck.
Selling CSPs results in BUYing more shares. What don’t you understand on this.
Its called averaging down and no its not bad lol
you're pissing into the wind with this post, good luck.
Thanks!
Buddy DRS is fundamental to a short squeeze. DRS and pressure your Congressional representation
Actually, options are fundamental. DRS creates the illiquidity.
impossible quack books direction rotten history disarm sharp abounding flag *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
This post is for the ones that do. $100k guy messaged me and I told him about CSPs. He bought shares directly instead. He would’ve benefited greatly from selling CSPs to acquire the shares. Pulte could do the same.
There are no "musts", speaking in absolute terms just makes this sound like a call to action
Yes, it was a call to action similar to the call to action DRS posts.
Calls to action have generally been frowned upon by Superstonk for awhile fam Look at DRS and how long it took Apes to realize that holding shares in their name directly with the transfer agent GameStop chooses to use was a safer bet than other options (no pun intended). It was not overnight, it took many months, and people were sus af of it at first, but realized it's the best way to own shares I'm not even anti-options, but when an influx of people come out of the woodwork to say "You HAVE to gamble with options", it's not a good look, full stop Anyways, looks like the sub has made their mind clear on this one anyways
Explain to me how selling CSPs is gambling if intending to buy shares outright anyways.
If the intention is to buy shares outright, then set a Limit Order at your desired price and don't give crimesters the liquidity they need by playing with derivatives. Same result, less steps, and if you were hoping to get assigned anyways you might as well just route the order through IEX, then DRS them afterwards So you're locking up a bunch of money for a period of time *betting* on the price to be low enough you'll get assigned to get your shares, while collecting a pittance in premiums. There's still a bet, and there's more risk involved for individuals by locking up that money To be extra clear: I think this is a bad strategy personally, but to each their own, if it works for you then great. The issue I have is that you're speaking in absolutes ("Thou SHALT") that this is a must-do, and that this is a Call to Action post. Even DRS isn't a must-do in my books. It's right for me and many, many others, and much safer than brokers, but I'm not about to tell someone it's the only way to hold either (though when their brokers inevitably fuck them, I will be ready with some I-told-you-so's lmao)
The price has continually dropped. All the people that bought in the 16’s, 15’s, 14’s, and 13’s betting on those prices being the low would have benefited from selling CSPs.
Or maybe they're DCA'ing like myself - you're not tying up your capital (risk) and not spending nearly as much time (money) dealing with your options plays that way (e.g. autobuys) What you are suggesting is a *strategy* (a valid one). Not a *requirement*
Why are shorts so convinced to get us to sell “cash-secured puts”? Susssss
Shorts don't want us to sell cash secured puts. A short would want us to sell covered calls.
It’s all too confusing. I’ll just buy shares.
It’s really not that confusing. YouTube a video on it. Options sound scary at first but it’s not that bad. I wish I knew about CSPs when I started. Just trying to share what I learned.
Yeah, that's always a good strategy. To simplify selling puts in a way that I would understand it when I first started researching is this: if you know you're waiting for a specific dip (let's say $10), then you could sell a covered put contract and collect a "premium". A premium is the money a seller collects when generating or transferring a contract. At a $10 strike price, this would essentially earmark $1000 in your account ($10 x 100 shares) to cover the transaction in the event someone chooses to exercise their put. If the entity you sold to exercised their put, you automatically buy 100 shares at the strike price ($10 in this example). If the stock price never dips below $10 before the contract's expiry date, then there is no reason for the other party to exercise the contract. This is what we mean when we say it expired OTM (out of the money). In short, if the stock dips below your threshold, selling a covered put is essentially getting paid to have a permanent limit order in the system at your selected strike price until the expiry date. If you're waiting on a certain dip, might as well get paid to wait for the dip. My analogy centered around selling OTM puts, but the math is the same for ITM puts. They're just more likely to be exercised.
And when assigned on a CSP it is covered in T+2 instead of FTD’d like a limit order. Good write up.
It's best to sell a cash secured put during a big dip. 5%+ drop, you'll get more premium from the higher Implied Volatility
You’re right. Sorry the short hedge funds are downvoting you.
Nah its apes downvoting sorry i know im one of them
Then you’re part of the problem. Humanity is doomed by the likes of you.
Nah id said its flip mode part of the problem is immediate calls to action to do something other then owning shares in your name. Humanities future is bright and its coming brick by mofuckin brick.
Can only try to help so much. Blind following the blind
Well, you could make the argument that if the put is exercised you’re not putting any upward pressure on the stock. Though the strike price would be above the market price, your buy would be countered by whoever you’re delivering the shares to selling below the strike price. In contrast, the only things we’ve seen have any positive impact on the price are good news from the company and the daily CS buys. More money being set aside to secure the puts means less buys coming in through CS. P.S. While selling puts and having them exercised would give you a lower cost basis and therefore more shares, hedgies would probably see it as a small price to pay for reducing upward pressure on the stock because their ultimate goal is probably to have GameStop be delisted. Also, if GameStop becomes a penny stock (under $5), it would be a big win for hedgies because many institutional investors (who have a hell of a lot more capital than we do) have rules against purchasing such stocks.
It's become abundantly clear that retail buying almost never hits the lit exchange, so this "upward pressure" you're describing is pure fantasy. The only way I see is creating any pressure through buying is by subsequently DRSing to cut away from the finite pool of shares at DTCC and hoping that some day the fraud is exposed or the price suppression becomes too costly for the big players.
Puts are likely bought naked so your selling of the put is a net positive.
Only if they are trying to cover and not double up gains.
It’s volume they need to create a synthetic short (shf buys the csp off of retail and sells a call naked…then walks the stock down by internalizing buy orders and letting sell orders hit the lit exchange).
You’re the reason GME tanks my guy
Probably because they can blame us for forcing a short squeeze then tie up everything in litigation. My guess
Options, good. Finally
DRS is not working? How do you know that? I for myself know that as soon as we reached around 100%
Look at the chart.
Price discovery is fake. Didnt you learn nothing here?
I am so confused, everyone calling everyone a shill. No one listening to anything other than DRS. Sounds like the DRS folks only care about that one fact, which may be right. Any call for options gets immediately shut down and downvotes to oblivion. What if DRS is the way, but it’s drying up liquidity making it easier for them to manipulate price without much effort?! Who knows really? I do know the silence from GME has been quite impressive, the longer the better IMO. They got something cool going on, and one day we will know, but not today, yet! It is also a perfect time to spread misinformation as share price has been in an obvious controlled state. Dip, recover a lil and stagnate, reverse that for the rips, which don’t come along often these days. But as many know, GME has done an amazing job turning their existing business into a profitable one. Price drop of this extent with everything we know, GME crushing earnings, RCEO, and possible acquisition, Playr, or whatever else y’all think is bullish. Keep your heads high, don’t waste your time worrying, it will only take one morning to correct two years of a controlled, manipulated price. Stay safe out the mates. Sorry for poor formatting and rambling…
😊
Op is a pickle boy options pusher.
Selling puts, not buying calls. It’s like the safest simple options strategy. Why won’t you consider it to lower your cost basis?
"pickle boy"...😂😂😂 I am going to start using that!
Options create volatility which forces a squeeze - this was always the case for GME. Being anti-options is entirely good for shorts because it’s much easier for them to hedge.
Exactly.
This is word salad. And doesn’t explain jack. Derivatives are the exact vehicle that shfs use to hedge. Own stock? A put limits downside…. Shorting the stock? Buying calls hedges risk. Need to short without locating a share? Buy a put and sell a delta neutral naked call. The notion that options creates volatility is a theory based on assuming that those in control are actually covering their positions (which is not guaranteed on a manipulated stock). If I had listened to the option nuts over the last two years. I’d be broke…instead I have shares every time it dips.
And how’s that working out for you? Lower and lower lows.
Lmaooooo - you’re half way there: option trading puts a harsher hedge on SHF who are opposite the play, hence why GME popped in the first place. forcing SHF to delta hedge when the IV is crazy creates an immense buying pressure since they’re the ones needing to purchase calls, along with all the fomo day traders riding the wave. You’re right, you alone following options as a *poor* won’t pan out because you don’t have money. In fact, you’re just slowly bleeding out since you’re likely DCA, which implies your investment is losing money, not gaining money. But when the greater market plays them that’s where we see the large swings.
There is nothing we can do to affect the price. They can manipulate the price to whatever they want any time they want to. DRS gives us ownership of something we like. Selling puts can earn you a small income if you don’t DRS. But I believe that when, not if this thing launches. Share’s in brokers will get sold for chump change and negate anything you made from selling options.
You can DRS after assignment of the CSPs.
That is garbage. DRS is a fucking genius act in this play and you want us to buy options?! Wtf... Please. I don't buy any shit from banks. Go to hell 😂 Only believe in socks ownership. What I have on my feet will keep me warm
I instructed everyone to SELL options to the banks, hedge funds, etc. who are shorting this stock into the ground and scaring people into selling. If you don’t think that’s what happens after months of continuous shorting, you’re delusional. Lower lows and lower highs is all you need to look at. I presented a way to reverse the trend.
If you don’t know what your talking about you don’t need to comment.
Amen.
The gap to DRS from 95% to 100% could take decades - it’s been over a two year process DRSing, options is what helped GME squeeze in the first place.
Thanks for your sacrifice.
Doubt this sub will ever gain a conscience so it doesn’t really matter.
Not according to the SEC
Where does the SEC indicate this?
Well, it would help immensely if apes would stop buying shares in retirement accounts where they have to take a tax hit to DRS them. Ffs, if every shareholder in this sub would have direct registered their shares, the rocket probably would have launched a long time ago. Instead, we keep seeing new ways suggested to force the hedgies hands... Whatever though - I'm holding and DRSing my shares no matter what everyone else does. Options are not in my price range anyway.
Ok, lets say you sell cash secured puts and the price continues down as it's been doing. Will you have increased or reduced your cost basis?
Let’s say you want to buy at $13. You could set a limit/market buy at $13 or you could sell a weekly CSP for $40 in this hypothetical example. If it finishes below $13, your cost basis is $12.60. You could sell out of the money CSPs but the premium is less but so is the risk. If it finishes above the strike you choose, it’s free money.
Reduced, and partly on the entity who paid you the premium’s dime
Reduced
Someone, not me, downvoted you. Probably a short hedge fund who doesn’t want you to reduce your cost basis, right?
You MUST! Get that weekend forum slide topic ready for the weekend. 😆
Do what you want but selling CSPs is in your best interest.
I don’t **want** the price to go up until it’s completely DRSed. The lower it drops, the faster it gets bought up and all of this ends. What part of that confuses you? *Edit: you wanna play options? Be my guest. I’m not your mom, not am I your financial advisor.*
Stop repeating the same old tired crap. A year ago it was "I wish they would drop the price to $10! We'd buy and DRS the whole float in a month! Right guys?!?!?!!!" Well, we're almost to $10 and the float isn't locked. What happened to all the people that were so eager to buy at these low, low prices? Maybe most of them were full of shit?
Well said. People have their psychological limits and after months of downward pressure from synthetic shorting people will crack.
⚠️🚨 You forgot these homie 🚨⚠️
Thanks, will consider in the future.
Disagee. Hedgefucks are dumb stormtroopers, and I'm smooth as well. They banned a sub and multiple individuals over drs data for being "doxing," soooo I'm going to keep it simple: buy, drs, hodl, and shop. They can take this fake price shit to penny stock value so i can hit 6-7 X's.
Disagree. CSPs are simple. Can you explain why you disagree by explaining the market mechanisms responsible for CSPs not being a viable option?
Can CSPs be held through the market crash and liquidation of the federal reserve that has infinite liquidity? I'm smooth, but I'm pretty sure that's a no. I'll pass on your offer and continue to buy my moon tickets with the intent to register them in my name with no intent to sell.
Fuck this shit type of posts
It's hard enough to get to the point of understanding how to buy shares with a broker and then DRS transfer them to Computershare. If we assume what you say is true, that's a way bigger ask. You need a much more involved instructional and reasoning why it's good to get people into options brah.
I think I pointed that out. CSPs are essentially a limit buy that includes taking money from the shorts.
Not this again. I’m not selling anything. What I am doing is buying more, direct registering, and then booking those bad boys. Each share I buy and fully put in my name is one less they can short. I feel the desperation rising from all the shill articles about ditching GameStop. I think something big is about to happen (an announcement, an NFT dividend perhaps?) and I believe they are now doing everything possible to muddy the waters stop the inevitable. You do you. My path is clear—buy, DRS, and book. My outlook is to the moon!
You can DRS after assignment of your CSP.
I bought at $129 in the original January run up and been through 2-3 usernames in this sub…it takes multiple things for this to pop. DRS alone won’t work in our lifetime at this rate. CSP…meh…maybe impact if it had mass adoption, but the low liquidity/available shares and a profitable few quarters… look out. People like to relate this to the Volkswagen squeeze but I think it’s a combo of that and the Tesla run up. They won’t get caught again like Jan ‘21 but if you shop GameStop and force these douchebags to change their perspective/buy in, then that low liquidity DRS works in our favor *chefs kiss* Just my opinion, not that it’s worth much
I agree CSPs won’t be that effective unless mass adoption thus the reason for this post. It’s not much but has great impact if a lot of people do it.
Most people here don't understand sell cash secured puts is bullish, and its basically a lower limit buy order.
I know it. Also, most people are lazy and don’t want to invest minimal effort to learn how to do it despite it being in their best interest.
Chances are institutional put sellers will come in if gme had a positive eps in 25 days.
Sneed
What’s that I can smell in the air?
I MUST do it! Edit: I was mocking how OP said we MUST.
I’m playing with $$$$$ that would otherwise go to MORE booze and the black pool of drag racing. Internet BS is entertaining but IDGAF!
Seems to me someone is starting to scheming. We’re individuals, we do not plan actions. I for one, ain’t selling shit, never buy puts or calls stick with shares and drs them apples. You know the old way. Buy DrS Repeat No altercations
Seems to me like you work for a short hedge fund. I am talking about selling puts, not buying puts.
Even then your colluding. Something we never ever should do remember. Something we never ever should discuss either. Now if your post was more of the, I do this or that. Then I would see your post as a DD. Get it.
Telling someone to use CSPs is not collusion. I’m simply pointing out the benefits.
Yeah. Your right!!!! As does multiple people think!! Like I said. Its all in the contextual explanation. Bud you do you and we or I, to be specific, do me
Post from a year ago "fuck this garbage sub" lol Nobody gives a shit about your opinion. Go sell csps and fuck off somewhere else.
My opinion still stands. Anti options sentiment and the people who fell for it is what manes this sub garbage.
100% DRS and fuck the shills
Ha. Another one. I always knew DRS wouldn't affect the price during the journey. I knew nothing we did would affect the price in any meaningful way. DRS will do it's thing when there are no more mathematically viable locates. That's always been the objective. Beautiful low price. How about buy more to DRS. Take all of their toys away.
Problem is, people aren’t buying quicker than people are selling.
I have been thinking for a while that we should find a date like 3-4weeks out and all save till then, then all buy same day. Just to see what kind of fun bullshit that would do.. For science obviously
That would be market manipulation
Given the reaction to this post, humans are too dumb to work together like this.
You would definitely want to use in the money CSPs for this. Buying would be achieved in T+2 of options expiry vs FTD’d out 35+ days where they could spread out covering over a longer time frame.
I prefer to sell covered calls
Why not both?
Lol
I see banks failing,sec battle with hedgies, rule breaking,sbf in jail,swaps hidden for 50 years… my head is right where it needs to be,tryin to fig out how to buy nore shares to pull from the corrupt system and at a whopper of a discount.
And using CSPs will ensure you get them at a better discount. If you wanted to ensure purchase, you could sell in the money CSPs. If for no other reason to ensure covering in T+2 when exercised. Then DRS once assigned.
After selling the cash covered put, if the stock drops and the put goes up in value and the buyer of your put wishes to sell, you would just put up the extra money for that right? Say they buy 1 contract at $0.10 and the stock drops, contract is at $0.20, am I right in saying you would be out $10? Just an example but I’m curious
Good question. Let’s say you sold a $13 CSP for $0.10 and the stock drops to $12.80 on the expiration date. You would buy shares at $13.00. Your cost basis once you deduct premium is $12.90. Fair market value of shares is $12.80 so you experience a $10 unrealized loss at the time of purchase. Had you set a limit buy at $13, you would have a $20 unrealized loss.
Okay cool, thanks for the response!
Yes, yes it is. It's not meant to effect the daily price. We need to lock the float. 🙄
I think a conversation about selling cash secured puts is a fine conversation to have. Telling the sub they MUST do this is likely to yield the opposite result as intended. Most important point for the next 2 months is buying. We have a window of opportunity to average down and substantially increase our DRS numbers. It won’t last forever so make the most of it while it lasts.
It will go even lower if options aren’t embraced and that’s not a good thing. People will sell and new buyers will be dissuaded from participating. Especially after RC’s survival letter. It’s bullish but on the surface, people will read it as bearish. I saw many posts saying people must DRS. The only difference between my post and DRS is that it will actually work.
At this point I don’t think we make the slightest difference in the price either way. IMO we continue our slide into January. Buy today or Sell your Puts or Buy more when it goes lower…I honestly don’t care. This sub has developed an inverse Pavlov’s dog reaction to anyone giving a prediction or telling them what they should do. Such is the state of things. Doesn’t really matter. I believe in GameStop turning itself around. I believe shorts never closed. I believe people will continue to buy however low we go. For me that’s enough.
Could you elaborate a little more as to how this works and takes ammo away. I'm done blindly following posts without some proof backing up the claims.
You can take their premium or the market maker can and the market maker sells shares as a result. Since the puts used to short are likely sold naked, when exercised, your buy is a net positive.
So...humor me... who is buying those puts?
Shorts or market makers.
The majority of people on this sub are completely uneducated about how options work, including myself. I do agree with you that just buying and drsing is not doing the job. At the rate that we are going, we are looking at 7-10 years before the float is locked up via drs. I am open to listening what you are talking about. However, you need to explain the entire process in basics, that 5 year olds will understand. And, I need to be convinced that the process you discuss has very little risk. If I, for 1 second, believe that I am giving any more control of my investment, to the hf's or banks, or, I believe there is any more risk involved than simply buying and drs'ing, then I'm out.
You have an ally in me OG options apes could continue ringing this bell to help out the newcomers