Agreed that this is no longer a sure thing... at the current price of around $250 the open interest is only about 45%, i.e. tomorrow the hedge funds need to purchase about 45% of the total GME stocks in existence in order to cover their Puts.
The telling thing is the 600,000 shares of open calls at $320... someone just bet 190 Million that come tomorrow they can make a profit selling at somewhere north of $320 . The market is finding the efficient price and the writting on the wall is that GME is a BUY at $250
Edit: and that is just at $320. There is also 190,000 open calls @$400... ie - someone is betting 76 Million they can make a profit tomorrow selling north of $400... and the 270,000 open calls @$500 etc.
Agreed that this is no longer a sure thing... at the current price of around $250 the open interest is only about 45%, i.e. tomorrow the hedge funds need to purchase about 45% of the total GME stocks in existence in order to cover their Puts.
The telling thing is the 600,000 shares of open calls at $320... someone just bet 190 Million that come tomorrow they can make a profit selling at somewhere north of $320 . The market is finding the efficient price and the writting on the wall is that GME is a BUY at $250
Edit: and that is just at $320. There is also 190,000 open calls @$400... ie - someone is betting 76 Million they can make a profit tomorrow selling north of $400... and the 270,000 open calls @$500 etc.
(post is archived)