Roaring Kitty puts this picture on X and suddenly GME is up USD 1 billion

Wow...
I didn't look at verticals as timing is so difficult.
What expiry were you looking at?

 

may24 and 31. slightly OTM when underlying was around 42

 

Why this particular trade structure?

 

I didn't feel comfortable timing direction with a vertical spread or selling volatility ATM with this type of fast price.

With the diagonal, I feel like I should be fine if price drops.
The long put is a dollar above the short put and "only" costed 2$ for the 7days calendar distance, considering the credit.

I am betting that the long put will be worth more than 2$ when the short expires.
I think my loss is more probable if price keeps shooting up... But even then, IV should keep going up.

 

Through osmosis, I hear to watch out on May 17th expiration (Friday).

 

3 May 2024 - day 1
Significant volume traded.
Start of uptrend.

There were similar attempts to push the price up before but the breakouts
were unsuccessful (probably because of no / poor publicity).


13 Mar 2024 - day 7
Before the market opens.
The sudden appearance of a man-playing game cartoon in social media.
The sudden awakening of Roaring Kitty.


14 May 2024 - day 8
uptrend continuation.
Newbies/oldies/kitties/doggies continue to show great interest in GME.
Upforce momentum continues ...
No sign of a U-turn.


15 May 2024 - day 9
TBD

 

3 May 2024 - day 1
Significant volume traded.
Start of uptrend.

There were similar attempts to push the price up before but the breakouts
were unsuccessful (probably because of no / poor publicity).


13 Mar 2024 - day 7
Before the market opens.
The sudden appearance of a man-playing game cartoon in social media.
The sudden awakening of Roaring Kitty.


14 May 2024 - day 8
uptrend continuation.
Newbies/oldies/kitties/doggies continue to show great interest in GME.
Upforce momentum continues ...
No sign of a U-turn.


15 May 2024 - day 9
volume is still significant.
But the price gapped down indicating
BUYERS << SELLERS
or upforce momentum exhausted.
Those who bought it on 3 May 2024 probably took some profits.

Next Roar Please.

 

GME retail buyers are fanatics, yet they are also exposing RICO level of naked short selling manipulation in 'memestocks'

for details in link..
https://x.com/Cancelcloco/status/1790406375098794354

 

Hedge fund managers aren't stupid. They might have gotten burned once, but if you think you can burn them again using the same old tactics, well, it ain't gonna happen.

 

Mmmm