Source
r/Superstonk•
for2fly

Approximately 64K call options contracts would be ITM this Friday, 04/01 when GME hits $200/share. Maybe this is why SHFs can't let the price get near $200.

👽 Shitpost

Taking my numbers from Chartexchange.

64,856 call contracts at or below a $200 strike price is the total I came up with just a few minutes ago.

23,563 of those contracts are for $200 calls.

Someone thinks GME stock is going to exceed $200 by this Friday.

64,856 x 100 = 6,485,600 shares potentially needing to change hands by 04/05 (T+2 trading days).

With apologies to Adam Ellis.

Posted Mar 29, 2022, 5:31 PM UTC

15516
robertleeblairjr💻 ComputerShared 🦍•

Yah. Seems like I heard something about if you don't have options experience then stay out of 'em. Even those with experience are probably getting IV crushed right now. DRS is the systemic risk. Oh and HODL.

16
for2flyOP•

I looked at the chart for options ending on 04/01 last week.

It seemed that $200 strike for calls had maybe a thousand or so contracts. Whatever number was there didn't really catch my eye.

But I wasn't focused on $200 then, either. I was looking at whether or not there was a substantial amount of calls that could "print" at or above $140.

Going out further, the number of contracts for $200 strike calls really drops off. Someone wants those calls to print this week, rather than printing eventually.

Whatever is going on, someone's throwing serious money around in the short term. I'm just sitting here hodling, too.

2
for2flyOP•

edit: duplicate post. My reply and others were not showing, so i thought my reply had gotten flushed.

1
robertleeblairjr💻 ComputerShared 🦍•

I had one 4/1 150c when they dropped it below 100. But, that's about the largest risk I'm gonna take. Got out too early though when I thought they'd it keep near 140-150. Those were gains for some shares and I didn't think they'd go ITM. I'm just not taking risks with these since TA is easily debunked on where price is going. DRS for those balance certificates are the DTC participant's risk and not price as much. Wonder how many of those 220c+ are probably toasted for Friday? We may trade sideways here all week.

3
YaybicyclesVoted✅FFOOORRRRRR!!!•

Would be hard to locate all those shares I bet…

Would be a shame if someone issued contracts for more shares than are available…

8
WeLikeTheStonksWLTS🦍 Buckle Up 🚀•

Fuck them foreal. Oh lets halt the market because of volatility.. you volatile criminal fucks. Whats the volatility? retail wins and you goto jail? Yeah get fucked. I hope everyones options go ITM get exercised and DRSd. Fuck these hedgefunds they're scum of the earth.

7
iwasneverhere43•

I love how you said "WHEN GME hits $200/ share". Positive thinking!

3
for2flyOP•

If you look at the charts for calls after this week, the number of $200 strike contracts drop to practically nil. These contracts have been purchased because someone wants them to "print" this week rather than eventually.

Someone has spent a lot of money on what, at a glance, could be viewed as extremely a high-risk, low-chance-of-success, bet.

As someone in the US, if I thought GME was going to go above $200/share in the near future, I still wouldn't buy calls ending this week.

Instead, I'd buy calls expiring at a date as far out past this week as possible. For one they would be cheaper to buy and I'd have a lot of leeway to cash them in when the price climbed past $200.

It makes no sense to buy up a ton of $200 calls expiring at the end of this week -unless someone has strong intel $200 is going to happen before Friday, and/or the buyer of those calls needs them to print this week. Otherwise, it's money wasted.

No one on here that has discussed calls thinks buying on the Monday before the Friday a contract would expire is a smart move. My tinfoil-hat conclusion is that retail didn't buy 99% of those 20K calls for that reason alone.

Anyhow, for me this is like noticing ripples on the surface of still water. I can't see what is causing them. All I know is that they don't form without something creating them.

1
Diamond_Pockets🦍Voted✅•

I know only a little about options but pretty sure your post is entirely wrong. Options get more expensive the further out they are, if they are close to ITM

1
for2flyOP•

I don't claim to be an expert. I'm just basing my comments on my personal experience pricing potential purchases.

1
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1
HiIAmFromTheInternet🦍 Buckle Up 🚀•

I shittily added the numbers up, 156k contracts. If we can get over $300, that’s 15 million shares they need to deliver.

That breaks the system doesn’t it? LOOOOL

Also 180 actually seems like the dangerous number? 200 is obv bad, but 180 also looks pretty bad.

1
Diamond_Pockets🦍Voted✅•

Pretty sure your info is wrong. I think you're looking at the volume of contracts and not the open interest.

-1
for2flyOP•

I'm counting the number of contracts purchased, not amount of interest.

0
Diamond_Pockets🦍Voted✅•

Just because an option was purchased does not mean the shares aren't already accounted for. If a MM sells a contract person A and person A sells the contract to person B, the amount of shares needed to cover that contract does not change. You should be looking at OI as that will be the number of shares needed if all of those contracts are exercised (most likely they wont).

1
for2flyOP•

I'm focused on the huge increase in the number of $200 call contracts purchased that expire on this Friday.

Whoever sold them should have hedged their position. Whether they did nor not does not change the fact that, should these contracts end up ITM, the number of shares that could potentially change hands is rather significant.

My point in posting is, "hey, look at the increase of the amount of contracts purchased." Not, "hey, I got all the answers."

1