I wonder what would happen if all the short-sellers just covered on Monday. The stock went to 0% short float. (Is that even possible?) Would GME price finally fall back in line with it's fundamentals?
After I saw Oil trade at negative prices last year... I now know any thing can happen in the market. Yet, I think all this crazy shit going on in stocks like GME is also causing weird market reaction in the Emini futures. wrbtrader
I honestly think the CL thing was unique, a one-off. Something still stinks to high-heaven about that whole debacle. And it WAS a debacle!
I had carried short GME calls from the runup to 480 and was bid for them for 3 weeks. Didn't get filled. My stupidity I even thought we could have round 2 and GME could see 150 or so , but never thought the vols would be so insane that the March 720 calls I could have covered at .65 would go to $35, the July 800 to 65. I was even long GME, thinking around 150 I'd make money both ways , but Thursday my available funds at IB due to their real time marking went from positive 7 figures to negative 7 figures. I wired them millions. In the end I took the loss right before it fell from 183. I never thought it had a chance to get back to 480 and still don't. Wiped out all of this year's awesome 7 fig P&L and the reason I ate the loss was there are no longer tax-loss carrybacks. That's the only reason. I think anyone buying options above the old high is dreaming. Thoughts on why the vol was a lot higher on rally #2?
Next to impossible, please prove me wrong if you know a platform even reach 5% of IB's capacity in trading international stocks.