GME, short or not?
Having shorted $GameStop(GME)$ on Citron, which has lost a lot of money, is also itching to face this GME market.
Just the day before, he said he "will not short GME again", not because he believes the company's fundamentals will reverse, but because the company has $4 billion in cash lying around in its bank account, more than enough to appease the frenzied retail investors.
But today, Citron founder Andrew added that he may choose to short GME if its shares rise to $40-$50 again.
It really looks appetizing, but it burns your mouth to eat it.
My previous point was that
GME is just here to fill the market's void in $NVIDIA Corp(NVDA)$ of speculative sentiment vacant ahead of earnings;
There are not enough shorts to complete the "squeeze".
GME is completely out of focus at the moment, the share price may surge occasionally but quickly fizzles out, and the best trade instead is "short volatility" - the seller of options.
Judging by the current trend in open options, investors are not as motivated to be willing to continue placing yardage.
more importantly
The lead Roaring Kitty bet on two options, a $20 call on June 21, saw a lot of trading on the 12th.
The overall net options position in the GME remains long at the moment, with options expiring in mid-July and an implied price of $33. Of course, the $30 Call expiring this Friday is very much in focus at the moment.
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