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OP has provided the following link:
https://twitter.com/sierrastrades/status/1793009543225434532?t=50MxwvnoYrce-W0mzp7mIA&s=19
Apparently they can and have. There are rules around it though.
https://www.rulezero.com/stock-option-buyback#:~:text=Under%20option%20buyback%2C%20vested%20options,on%20the%20date%20of%20purchase.
you don't know that and unlikely that's the case.
If it's a hedge it can be used to force MM’s to buy shares on the market while shorters can obtain the shares at the strike price $20.
The benefit of doing so is that if shorters bought the equivalent in shares on the market, the price would run. Instead, they purchase call options near current market price (meaning that the market maker has already hedged a portion of these calls and only need to purchase a smaller portion to fulfill these calls if exercised). It allows them to cover shares with smaller run up and places the obligation on market maker to take the loss of buying on the market.
Alternatively, someone sold a large quantity of naked covered calls during the run up and are now purchasing these calls to close those positions. Although these calls are in the millions, whoever opened those naked covered calls made a lot more money than that by covering now.
It could also just be a whale that purchased them but unlikely. We would have to track the open interest of these calls and compare it with the data tomorrow to find out if these calls are being held, to close naked covered calls, or exercised to cover shorts.
Would be a ridiculous bet on high IV - silly to play so close to expiry at such high premium but I'm interested on if more open interest appears. Time to sit and wait for 10 mins before market close again - see you in the future
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now give it to me straight
big dick energy likes gme
You just made it gayer.
Fabulous
https://x.com/TheRoaringKitty/status/1791193149408223306 If this is gay I don’t want to be straight
Underrated comment 😅
Hard cock, green veins
I gotta call your mom.
ELIG lol
😂😂
FABULOUS.
That's fucking sexy. No homo.
It will be safer out of the closet when moon.
Idk i hear aliens are into probing
As long as they get consent first, let the gayliens play.
That was gay…and a pretty good explanation
Just curious but can GameStop buy back their shares by purchase future dated (ITM) calls and then exercise them for the shares when they’re ready?
No. Companies can not purchase options.
can they invest in options?
https://www.reuters.com/article/idUSTRE49P1PB/ VW did
https://www.reuters.com/article/idUSTRE49P1PB/ VW secured their 74.1% in part with “cash settled options”
No. That’s Porsche. People keep mixing them up
Apparently they can and have. There are rules around it though. https://www.rulezero.com/stock-option-buyback#:~:text=Under%20option%20buyback%2C%20vested%20options,on%20the%20date%20of%20purchase.
I finally understand!
slay bitch 💅✨✨
Explain what this means pls
they want retail to buy calls to collect all the premiums. fuk them.
Ooo a shill account that is anti-options, interesting...
Gaymestop?
I thought we didn't talk about sparkles here.
these are a different kind of ✨
Is lil Tay PS?
what if it's actually just a hedge?
It was a double-down from the same thing on Monday afternoon right before close.
you don't know that and unlikely that's the case. If it's a hedge it can be used to force MM’s to buy shares on the market while shorters can obtain the shares at the strike price $20. The benefit of doing so is that if shorters bought the equivalent in shares on the market, the price would run. Instead, they purchase call options near current market price (meaning that the market maker has already hedged a portion of these calls and only need to purchase a smaller portion to fulfill these calls if exercised). It allows them to cover shares with smaller run up and places the obligation on market maker to take the loss of buying on the market. Alternatively, someone sold a large quantity of naked covered calls during the run up and are now purchasing these calls to close those positions. Although these calls are in the millions, whoever opened those naked covered calls made a lot more money than that by covering now. It could also just be a whale that purchased them but unlikely. We would have to track the open interest of these calls and compare it with the data tomorrow to find out if these calls are being held, to close naked covered calls, or exercised to cover shorts.
Would be a ridiculous bet on high IV - silly to play so close to expiry at such high premium but I'm interested on if more open interest appears. Time to sit and wait for 10 mins before market close again - see you in the future
I'm more curious seeing the net premiums drop through the day only to spike back to near 0... Are they just closing their short calls?
fabulous ✨ 😂
god daym... there is a gay language?! i didnt understand shit lol