u/DeepFuckingValue and the GameStop Reddit mania

Post by dcolkitt » Fri, Jan 29, 2021, 10:56 PM UTC

cblconfederate wrote: post #53

raziel2701 wrote: post #22

On wsb u/deepfuckingvalue showed he still holds 50,000 shares and 500 deep ITM call options. He has secured a profit of $13.8 million dollars, and his remaining open position is valued at $45 million. I would caution people to not quickly fall into the "if he's still in, I'm still in" meme. He has secured a $14 million bag, regardless if the stock goes to zero he's already secured a life changing amount of money, he…

... and if bitcoin is any guide, people can hodl forever, bacause they are no longer doing it blindly. Who will blink first?

Post by [deleted] » Fri, Jan 29, 2021, 10:58 PM UTC

seanalltogether wrote: post #54

f430 wrote: post #26

What makes WSB legal vs emails about imminent pump on an unspectacular stock? What stops somebody from purchasing aged reddit accounts and then pumping up, upvoting their own threads?

matt levine talks about this very thing in one of his other posts on wsj > So if you buy stock with the purpose of pushing the price up so that other people will buy it, that’s market manipulation. If you buy stock hoping that the price will go up because other people buy it, that’s not market manipulation; that’s just normal. Those things are not so different. There is a “traditional four-part test for manipulation…

Post by ggggtez » Fri, Jan 29, 2021, 10:58 PM UTC

sumedh wrote: post #38

MuffinFlavored wrote: post #30

Earlier quoted context omitted.

A ton of people aren't doing any thinking for themselves. I'm pretty convinced there's some kind of organized manipulation attack going on within r/wsb. The same reason Parler got taken down for inciting violence without proper moderation, I'm seeing a lot of baseless claims from literally millions of people who do not understand how large/complex the financial systems at play are. I'm kind of worried Reddit could sh…

> I'm pretty convinced there's some kind of organized manipulation attack going on within r/wsb Do you have any proof for that? If not then arent you the one who is spreading misinformation?

Post by yreg » Fri, Jan 29, 2021, 10:59 PM UTC

SpicyLemonZest wrote: post #71

yreg wrote: post #65

Earlier quoted context omitted.

Presumably the crash would occur after the GME price skyrockets and shorts (and then their brokers and clearing houses) go broke trying to close the short positions. The insurance pays up if they buy your share. Do you have another idea how it could end?

It could end by simply crashing without shorts going broke. There's not much reason to believe a larger short squeeze is forthcoming.

Post by delaaxe » Fri, Jan 29, 2021, 10:59 PM UTC

yreg wrote: post #35

raziel2701 wrote: post #22

On wsb u/deepfuckingvalue showed he still holds 50,000 shares and 500 deep ITM call options. He has secured a profit of $13.8 million dollars, and his remaining open position is valued at $45 million. I would caution people to not quickly fall into the "if he's still in, I'm still in" meme. He has secured a $14 million bag, regardless if the stock goes to zero he's already secured a life changing amount of money, he…

Well if a stock market crash triggered by this is realistic (which I agree is), doesn't it make sense to hold a bit of GME for insurance? I understand that there's no guarantee one will be able to exit it successfully even if it flies so high that it crashes the market. However I don't see a better insurance for people who don't have access to options/inverse etfs and don't want to sell their stocks.