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I hate to say it, but 99.99999% of the "DD" you see on AMC/GME/ ect are people regurgitating fallacy's and stuff they heard or read on WSB. That sub has gone to dog poo. And this is from somebody who made out well on GME. Go searching for DD on the bear thesis because it seems like its few and far between online for anything other than confirmation bias.
The Shop
Such a small percentage of people are actually going to exercise those calls. Dont they just end up back in the MM's hands esentially hedging themselves? They sold the calls, and if we assume they were naked, and now they have them back, they've closed. I dont know , thus why i'm asking, I dont sell naked calls or puts LOL.
Also, Have you been buying shares in the 40/50/60/70$ range? If so, what is your cost basis?
I think CLOV is a distraction. It’s a pump and dump stock
Pit Row
IE: 6/18 40C, underlying price is say 50$, you have almost 10*100$ in intrinsic, and then some extrinsic amount (built of theta and volatility). If you exercise, you lose the extrinsic value, and just get the intrinsic value. So you'd own the 100 shares at 40$, but you probably gave up the couple hundred in extrinsic value. Thats why sell it and buy shares.
I get a kick out of the "everything else is a distraction!". It screams, buy what i've already bought, who cares if you're a bag holder.
Folks calling UWMC a distraction, when its a legit company, thats way undervalued and has a heavy short interest with multiple catalysts. Disclosure, i've already exited my position, 400+% on calls. And the options were extremely cheap, like 0.10$/contract over the underlying price on options that were ITM with 2 Weeks until expiration.
The man likes UWMC stock, made a 400% gain on some options but currently has no position in it.
I’d be stoked if it ever got to triple digits….6 figure seems beyond absurd
As for the $500,000 floor. I mainly look at it as continue to buy and hold and don’t sell at least until they cover. Personally? I’m going to sell on the downtrend after a couple days. Nobody has any idea what the price per share will be. Butttttt theoretically, it’s doable.
If I had enough money to fulfill that obligation that could be seized to pay that option, I'm with Bezos and leaving Earth behind. No one's got jurisdiction to extradite me from my personal space station.
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