I didn't finish my post there... And the quote got auto saved in my last reply. I was going to say I commend him on holding as I too hold my positions until my target or bust ...But time could be running out on this one. I'll check my sheet but I think the profits for those calls probably peaked at 500k... I was in the same position with BITO being down 80% before it recovered. Yes my portfolio is down right now. I don't care if it goes down 50%, it's a buying opportunity.
In my defense he was an ass to me...and he and the clown show would gang up when I called them out for being clueless perma bulls ..and I was right. Go look at the post history...I gave them plenty of warning this retrace could happen. @johnarb @Tokenz @Noah
Thanks! But I'm still in profits a couple of hundred thousand, I was playing with waxy when I posted an old screenshot of the position from a Sept ET post I'm planning to sell to close the position after July and hopefully cash out some profits and purchase 1000 mstr shares for a 5-10 year hold. I'll post an update later The Jan 600 calls I purchased in Nov will expire worthless this Friday, -$75k loss, punishment for fomoing at the top... ---------------- https://www.elitetrader.com/et/threads/mstr-discussion.381441/page-35#post-6076496 I had just purchased mstr Jun 2025 calls to follow Josh on his trade idea that there might be some kind of gamma squeeze/market maker inventory shortage as there are too many calls ditm for this Friday's expiration, I'm bullish for the next 3 months, new administration need for money printing per TGA, and UST's maturation Also mstr fasb bitcoin adoption on the next earnings and also possible announcement of strategic reserve
I suggest learning about T+35 and etf wrappers instead of following someone blindly. It looks like all of those ftd's have been filled via MSTX. Reddit (GME) The FTDs are supposedly in ETFs that are supposed to own a certain percentage of GME shares. Effectively, the slight of hand is in the creation and redemption of ETF wrappers. An ETF can be sold before it has been created, and this is deemed to be sufficient to meet the delivery of an actual security/share in the stock itself. Hence, the stock (GME) is deemed to have been delivered. However, they then FTD within the ETF. The T+35 relates to the FTD within the ETF supposedly holding GME shares. Those shares do have to be bought, but you won't find a direct reference to them. What is being said is that you're looking in the wrong place if you want to find the FTDs that'll impact the GME shares price. I fell into this rabbit hole with GME....basically you have to look for large areas of ftds and then see if they are being offloaded to an etf via a redemption wrapper. On the MSTX chart that they are receiving a large amount of ftd's so these could be the ftd's from MSTR being offloaded as explained in the reddit post. https://chartexchange.com/symbol/nasdaq-mstx/failure-to-deliver/ https://chartexchange.com/symbol/nasdaq-mstr/failure-to-deliver/ If we start at the large bar on NOV21 and count T+35 days, 35 calendar days later would be December 26, 2024 - Jan 1 2025 This correlates with price action on Jan3.
According to my spreadsheet, if you bought at the bottom on DEC26 anticipating the squeeze, ATM $290 calls (8 DTE) were about $19....on Jan3 (0 DTE) they would have been itm $95 for a profit of about $76. Math check - Current atm Jan24 calls (10 dte) are $22 Reddit users are all over this. THIS is why I continue to tell you punters that the smartest traders are retail traders, not institutional traders...they just stack the deck against us...and certainly not any of the clowns on youtube or twitter lol.
The guy doesn't need a reason to buy. No MMer is sitting on unhedged Delta1 in MSTR vol and waiting for LTD. So his thesis is that there isn't "enough shares" to cover the exercise? The MMers are going to be forced to buy shares to cover their assignments? Please tell me it's something else. There isn't any gamma in these DITM calls.
READ MY LAST TWO POSTS TO UNDERSTAND HOW IT WORKS! ALL OF THE FTD's WERE ALREADY COVERED BETWEEN DEC26 - JAN3 RALLY! IF YOU ARE LOOKING AT MSTR YOU ARE LOOKING IN THE WRONG PLACE...LOOK AT MSTX!