Stock Market/Investing/Day Trading/Speculative Trading Thread

[Faux Sean Callahan]

What do you think of all Cathie Woods etfs? Do you think she will continue to kill it?

I really don't know... I have been thinking of adding them to my portfolio and basically bounce my speculative portion.

I need to read more on her. Hard to argue the results though

 

[Faux Sean Callahan]

 

[Huskersballz]

Back under $100 again, looks like whole market is tanking a little bit.

 

[BingoDingo]

So stupid.

 

[That SOB Van Owen]

Those autists...I mean they really fucked with the ‘tutes on this one.

 

[jw3]

I bought a tiny position in Aurinia Pharmaceuticals (AUPH) back in August anticipating their new drug voclosporin would get FDA approval. It did the other day, and it's up 30% today. Should have followed my gut and bought waaaayyy more.

 

[lee_carvallo_12]

I bought a tiny position in Aurinia Pharmaceuticals (AUPH) back in August anticipating their new drug voclosporin would get FDA approval. It did the other day, and it's up 30% today. Should have followed my gut and bought waaaayyy more.

I bought in Nov of 2019 at $6.14. It's $18.85 as I type this.

I bought BILI July of 2019 at $15.46. It's $134.27 as I type this.

Every other thing I've bought since has pretty much been a piece of shit, fwiw.

 

[Faux Sean Callahan]

Do you guys invest in any of these EV SPAC plays?

 

[hothouse_corn]

Fuck, I'm even more lost in this thread than the drinking threads where @Johannes de Silentio writes about hints of apple, musk, and marigold in his favorite single cask 37 year old cognac.

 

[Huskersballz]

GME close at $223 with after hours trading lol. Was up to $250 at one point.

 

[BingoDingo]

GME close at $223 with after hours trading lol. Was up to $250 at one point.

Those put prices are rich man money. Holy hell haha.

 

[Huskersballz]

Those put prices are rich man money. Holy hell haha.

I imagine the premiums are insane on both put/calls right now.

WSB thinks there is still plenty of ways for it to go, since none of the hedge funds have covered their shorts yet. When they have to cover their positions and buy up large blocks of the stock is when it will really take off, technically the short squeeze hasn't even started yet since short interest remains the same. It initially started as a gamma squeeze from WSB buying so many OTM calls.

 

[BingoDingo]

I imagine the premiums are insane on both put/calls right now.

WSB thinks there is still plenty of ways for it to go, since none of the hedge funds have covered their shorts yet. When they have to cover their positions and buy up large blocks of the stock is when it will really take off, technically the short squeeze hasn't even started yet since short interest remains the same. It initially started as a gamma squeeze from WSB buying so many OTM calls.

It's all just nonsense happening with this whole situation. It's incredible, but it's still nonsense. Lol.

 

[Cash68847]

I bought a tiny position in Aurinia Pharmaceuticals (AUPH) back in August anticipating their new drug voclosporin would get FDA approval. It did the other day, and it's up 30% today. Should have followed my gut and bought waaaayyy more.

I bought some of that a a month ago. I also just bought some Clover.

 

[Cash68847]

Is this happening because of the short squeeze scenario going on?

 

[Faux Sean Callahan]

Is this happening because of the short squeeze scenario going on?

Yes

 

[Faux Sean Callahan]

Can somebody quantify this to me? I know the high level of options, but no clue how much this guy potentially made today.

This fucker bought 50 115 call options for game stop.

 

[hothouse_corn]

Unwatching this thread because I don't have a damned idea what you folks are talking about. If you create a tutorial, I'm all ears.

 

[Faux Sean Callahan]

Unwatching this thread because I don't have a damned idea what you folks are talking about. If you create a tutorial, I'm all ears.

I'm sure others can explain this better, but.....

1. Game stop is in a short squeeze. It is common to short a company you think is going down. When a company gets run up and has a large amount of people shorting it the shorts will try to cover. By doing this they have to buy shares at the current price. Driving the price through the roof.

2. My post is about somebody who bought 50 call option contracts on game stop. Call options allows you to buy a stock at a given price ($115) by a given date. Each contract is worth 100 shares. Gme is trading $209 after market. So you made stupid money on this

 

[That SOB Van Owen]

Can somebody quantify this to me? I know the high level of options, but no clue how much this guy potentially made today.

This fucker bought 50 115 call options for game stop.

Open price was $27.35 on those, or $2,735 per contract. Not sure when he got them, but assuming he got them at $2,735, he ponied up $136,750.

Closing trade on those was $65.80, or $329,000 for his lot. Now with the after hours price action, this will go a lot higher tomorrow. Assuming it opens around $200, his lot will easily be worth over $500,000. Volatility will go up, so would not be shocked if it was $700,000 or so.