As someone who's been following this a little too closely - the banks are about to implode again. They cooked the books in their latest earnings report to show the highest profits ever in their April 15 earnings reports, and just issued billions of corporate bonds.

This is not financial advice - but they're looking for bagholders - pull your money out and wait for it to crash.

Positions:

112 $GME

1 $800 July 16 $GME call

  • borisjohnson [he/him]
    ·
    4 years ago

    Oh dope. Might have to get in on that.

    Edit: Not possible in the UK. This place sucks.

      • borisjohnson [he/him]
        ·
        4 years ago

        I made some money the first time round. Just figured I've got a little extra that it could be fun to gamble in case any more movement happens.

    • Koolio [any]M
      ·
      4 years ago

      You do have to be careful though - while stock can go up and down, it will almost never go to 0 - but stock options will. $GME is a bit of a special case that I feel very comfortable gambling on.

      For the most part, if you know what you're doing - stock options are relatively safe. Where you get into trouble is when you start playing weekly contracts - because of something known as IV crush (essentially - as the contract reaches its execution date, it's asymptotically less likely to be in-the-money and the premium value falls off a cliff) With weekly contracts you can buy them on a Wednesday for like 0.03 ($3 a contract) and make 100x your money if the underlying stock goes up just $3 - however you're much more likely to lose all that money if you hold to execution. A common strategy is to buy these, wait for a price swing that takes it to 0.06 a contract, and sell it on for 100% profit.

    • Koolio [any]M
      ·
      4 years ago

      You can get options - the european stock ticker is $GS2C - it's traded in Frankfurt.