$GameStop(GME)$ In today's market, gme should have skyrocketed. I believe the muted move was due to WallStreetBets. WSB has a talk that approximately 1500 people attend from 8:30 to 9:30 am. This group is hurting gme in my honest opinion as they tend to look down on the meme stocks. For example, one of the moves that you are hearing on these board is that if you are bullish on gme, you can sell puts and get paid to buy gme shares at a lower price. In this strategy, when you sell a put, you are required to buy shares at the price of the strike if it goes in the money and if it goes higher, you get to keep the premium collected.
This is a strategy that works well when the people that are telling you to use this strategy have puts or shorting the gme. If you follow this strategy, it does not interfere with their short position.
If gme goes up, the price is muted as the main action that moves the price is buying shares but because the bulls sold puts, they are not buying shares and anyone with a bear stance on gme, get to make money. If gme goes down, the gme bull is forced to buy shares and the short gets to profit from the move.
Listen, gme this past few days was is in a dangerous place. This morning, GME was only 15% from the 52 week low which would have made 100% of every short shorting gme profitable. WSB did not give any significant time to discuss gme even though so many gme bulls on wsb have billions on dollars on gme.
If you are a gme bull, demand wsb talks about gme in the talks.
Comments