The Investment Thread
This was sent to me so total speculation. Lots of people in this thread way smarter than me so is it squash it or watch it?
"Did you happen to see the amount of calls bought for June 18th for GME? About 4 million. So 400,000,000 shares pretty much. It also lines up with a huge purchase of spy puts made for June 18th too. 65bn in active puts for that day. There's speculation of insider trading and people know stuff is gonna go south market/economy wise by June 18th."
Those June 18th $40 call strikes have had over-inflated open interest for a couple of months now. My own personal theory and several other people's is that hedge funds/MMs/institutions in the know have been hoarding them, knowing shorts will have to close a significant amount of short positions prior to June 21st, when SR-NSCC-2021-002 kicks in.
I can remember looking at that all the way back in mid-April and telling a couple of my friends that "Someone may know something about that date." Not only was the open interest high, but the volume in relation to it was extremely low, which told me that these were institutional-level purchases.
A couple of weeks later, I bought a ton of June 18th calls based on that intel for $0.31 each, and literally turned a $4,000 investment into over $350,000 before cashing them out last week to pay off the mortgage and all debt, and get a small handful more January calls.
In hindsight, I wish I had put all my funds into those $0.31 calls, but I was too afraid of the time depreciation factor, and hedged my risk with September and January calls at $0.61 and $0.97 each, respectively.