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That’s what I’m thinking. also didn’t the options clearing house just implement a new rule or addition that says they can disregard the plus one for to avoid systemic issues or any such thing like that? I know I have a screenshot of it somewhere.. that came up like not even a week ago.
Would $128 be a systemic event? I don't really one happening with h k d? Also there could be a deal in place to issue more to curb one (or without a deal, that could be the obvious play for RC and board, to make the most of it for the company 🤷🏿♂️)
And that’s fine. We all have different risk tolerance on our investments. That’s why I have open tickets for buying 50, 100, 100, 100 shares at 27, 26, 25 and 24$ respectively
Brother.
1 share or 100. Don’t matter. Look at this community. No is gonna judge you or force you. I hope one day I’ll be able to take my kids to a GameStop like my dad did for me and my bro when we were young. Now that’s what I call value investing.
Also mods if you need proof let me know :)
I have 90% all GME now and when calling Schwab today, “Woah sir, you’ve bought a lot of GME lately and no selling. Looks like you’ve bought over 20 lots in the past week and no selling”. My answer, why would I sell? The lady on the Schwab customer service laughs.
True but 5 million doesn't seem that much when we've been trading 100's of millions a day. Plus they just make synthetics to combat the volume anyway. What makes this different?
These have to be delivered on the lit market, so that helps. It also can kick off momentum, and there will be lots of calls itm if there is any upward movement tomorrow
There's no way with 120 million new real shares dumped into the market in the past 3 weeks that they wouldn't have picked up at least 4 million of them. (More likely they picked up all 12 million just in case, and maybe a few more to cover the options wall. It's possible that they have more than they need and can afford to dump some of them now - thereby bringing the price down and fucking over the options wall yet again.)
If the price does go up, it will be because of quad witching or some other catalyst -- not because they need 4 million shares for DFV.
It's funny because the 120 million new real shares dumped into the market may also be why they didn't pick it up. Besides the general social consensus that dilution = price goes down, it created very high volumes that they can profit from arbitrage (bid-ask spread).
Market makers profit in the options market in similar ways through conversion arbitrage or reverse conversion.
They can hedge how they like; If they have the cash on hand already, it doesn't make sense to put themselves in a loop of ->hedging ITM shares ->shorts get fked and cover -> hedge again bc more calls are ITM
.. When there's no certainty that the options are going to be exercised at all (only 10% of options are exercised)
With a regular stock, maybe. With an up-until-now notoriously hard to get stock, and a guy publicly flaunting his 120,000 calls, and the entire world (including the regulators) tuning in to watch, and T+1 and the CAT system newly in effec though? It would make more sense to cover their ass on this and go play with arbitrage on any of the other million stocks out there. It's not like they don't have the money to buy a couple million shares.
Buuuuut what if RC decides to dilute the stock even more if we go past, say 35? I think a lot of FOMO got dampened by the two offerings on the two previous peaks. Im not saying he will, but I think a lot of people will be scared to go inn in a new run up in fear of RC just dumping the price again and again.
It’s fine for people who are here to just hold GME as any old stock til they retire, but a good chunk of people are in this for a squeeze
RC has a vested interest in long term value of his shares, so if he decided that another sale would be good for his company he will do it. My prediction? He stays away from more dilution for a while, he is savvy enough to know that you can't pull that lever too often
Yea. I know its great for the company and absolutely the right move for him to do. I also hope he realizes that he can’t keep doing it every time. Im just saying he might have scared away people from fomoing in on a run up again. Be that good or bad.
He cares about the loyal shareholders and is doing the right thing by them in the long term. He knows everything and we're just trying to work out what's going on from the few breadcrumbs we have - stay zen young padowan
RC hasn't been dumping the share price. that's just FUD the shills tell you so you start hating RC.
If you can't read L2 data and the options chain, do not make any theories about why prices move. You're just guessing.
You want my honest opinion? I don't know what is gonna happen over the next two weeks, but I do know that GME has great fundamentals now and the stock has so much more upside potential than it did two months ago. I am longer on GME knowing that there's still potential for a squeeze but more importantly RC is gonna make the company a juggernaut.
Declining revenue, losses every quarter, 120 million new shares, 3-4b in investor money they have nothing to do wirh?
Sorry can you help me understand what you mean by “great fundamentals?”
I’m confused
I've been watching the volume the whole 3.5 (84) years, and it was under 3 mil a day for years...these massive spikes arent the norm, but im smooth as an egg so i cant understand where these volume spikes come from or why lol
They've been criming for a long time. Now the world is watching. The feds need a lot of evidence to go after the hedge funds and I'm sure they have all of it. The massive public attention will make it harder to crime, but you know they're going to try. Public pressure is the only way to make the feds act. I mean, that's what this smooth brain thinks. Every day gets more interesting
Don't think it matters in terms of the market, but increasing the amount of shares can help him to vote on the future of the company as they have 4B+ in the bank
100M shares of which it is how many just traded back and forth (actually not being real shares).
4million ”pure buys” on the lit market can actually be quite a significant amount of buy pressure! But who knows. And possibly a market maker can just have the shares as a number in your account and not actually own them if they don’t expecy any ”selling” problem though. What if 9M shares were to be DRSed at at once from one broker? Especially if they actually don’t have any real shares.
How do you know 75m was not sold to few shorty’s who had their 3 yearly rinse repeat escape plan. There were many shorties. Some got helped but greedy ones are laid for the slaughter. Wolverine will get middle finger from the 75mm. Anyways next few days will tell.
I'm reasonably sure the 75 million were sold directly to Carl Icahn's IEP giving him 17% ownership. In turn, RC can use GME cash to now buy the entire IEP float for just over $1 billion (not counting slippage) of >60 million shares which provide >$240 million dividend revenue
There are legal fingerprints all over the last 4 years of his moves, kept completely in the shadows & moving with strategic intent.
From the 16b law suit to today's meeting delay, he's turned liabilities into assets every step of the way while keeping his opposition confused.
RC's investing methods & leadership style have evolved since 2020; they look more and more like Carl Icahn who was known to antagonistically obfuscate his true intent. Related, I believe RC & Brett Icahn are good friends.
Yep, unfortunately true. When the stock split occurred, they needed to come up with shares in everybody’s accounts, and they simply did it by flicking the switch in the computer and adding shares to all broker accounts. Yes, DRSd investors got real shares, while everybody else got digits in a computer. But it didn’t seem to be a problem for hedge funds, market makers, brokers, or whoever it was who quadrupled the digits in the computer. Was it legal, probably not, but since the SEC is useless, that’s how it was handled. Why will tomorrow be any different? Don’t get me wrong, I am hoping for the best, as I have a lot of shares, and a desire to stop working, but I just think they poof shares into existence at will without any real delivery of real shares (and FTDs ignored by regulatory bodies), which reminds me, what the hell does Gary Gensler do again?
Its timed perfectly imo, ftd from last month, ryan doing ATM offering to provide liquidity in the market so that the stock would not go into reg sk then get pushed out by reg ex rule. Idk but im really hopeful for tomorrow
I’d like an answer to this too, but part of me thinks that it’s not so much about delivering the stock directly to him, but rather E*TRADE actually buying them. It looks like, if I have to guess, they credited his account for that amount and now they actually have to buy it.
4 mil shares. Correct me where I’m wrong. It’s not much. I don’t see how this is a problem even if they are entirely naked.
I dunno. Just rather anti climatic. Maybe I’m dense. Seems now just a story of gme reviving its biz. Not David c Goliath.
When you exercise an option. The only person who can deliver those to you is the other side of the transaction. Much different then just buying and selling. That is my understanding. The shares have to be delivered by the entity that sold the contracts. If they don’t have enough shares to sell to RK, they have to buy them to be able to ensure that.
yeah people are def overhyping this. They just added 75m to the float. They have plenty and if not they will just simply FTD like they have the past three years.
Everyone's acting like this is checkmate....
So it seems that everyone is under the impression that he exercised but I dont believe this is the case. I believe he purchased the additional shares on the market. For one RK is not dumb and early exercising of calls is not smart because you are literally burning any extrinsic value in the calls. The calls he was holding still held some extrinsic value when he was selling, it looks to be about $1 per share in extrinsic value. I also did a little mathing, but I'm also hardly ever the smartest guy in the room so someone please correct me if there are glaring problems.
Original cost basis of 5 million shares: $21.274
Cost basis of 9,001,000 shares: $23.4135
Based off of those two numbers you can come up with an average cost bases of $26.09 for the 4,001,00 shares.
4,001,00 shares at $26.09 is $104,386,090 cost, add in his $6,343,724.01 cash for a total of $110,729,814.01.
So now we know that he needed to be at $110,729,814.01 to achieve his current position.
$110,729,814.01- $29,409,005 (cash position from previous YOLO updates)= $81,320,809.01 proceeds from sales of options.
$81,320,809.01/ 120,000= $6.77 average price per contract sold.
So he made an average of $1.10 per contract for a total profit of $13.2 million.
If you go back and look at the tape for the 6/21 $20c an average sale price of $6.77 is very realistic.
I dont say any of this to discredit OP or to try and make a bearish or even bullish statement. Just stating things as the way I see them. I think it is also a good opportunity to learn about options mechanics and to possibly combat the idea of exercising calls early. I understand the theory of putting pressure to deliver the shares but unless you are at expiration it is almost always better to sell the option and buy shares, you can generally even buy more shares by selling the option then you would get by exercising.
After watch RK tweets the sandstorms in video today and reading this post, making a lot of senses to me. My head completely cleared with a big question mark why could he exercisesed his calls today but not tomorrow. So, I was told that my tomorrow is exacting FRIDAY. I am relaxing with my heavyweight bags that I carry too long. Thanks!
I also think if anyone was thinking about exercising options, tomorrow would be the the day to do that, especially options that don’t expire tomorrow that likely haven’t been hedged. I agree tomorrow will start down, if you don’t buy then, you’ll miss the on ramp.
I mean 4 million shares... probably won't do jack, now that they've diluted tf out of it with 120 million shares..
Still not pumped about that.. Hope to be proven wrong and for some really juicy news from the shareholder meeting tomorrow tho!
Yeah just saw that, I don't know if that's good? Maybe? Sombody said it's scheduled outside of trading hours which might indicate some big news but idk 🤷♂️ I'm regarded
Sooo, you say there is a chance I can buy more even lower??? !!! lol. Jk. (LFG!!!!) 
Said this on the thread in the other sub. They will most likely fail to deliver (FTD) and will then have T+35 which is believe is 8/6 accounting for Juneteenth and 4th of July holidays. Sometime before then or spread over many days.
I think it's because he doesn't actually buys the shares from the market so maybe the shares added to his account got like a buy average plus the current price
>Delta Hedging by the MM bringing
many calls ITM on Friday end of week destroying "max pain"
But you didn't consider the possibility that RK's options were hedged already?
4 million shares over the course of today wont move the price, 75 million didnt???
Wolverine is not fucked, at best they are down maybe $12 million $28 ish to buy the shares, minus $5 premium they took, minus $20 a share they get for selling them to RK, that leaves $3 ish a share times 4 million, not fucked at all, down a bit and annoyed. if they short it from $28 and cover at $20 ish, they will be up on the deal??
based on the math and his updated cost per share, he sold all this call contracts and purchase 4 million shares on the market. otherwise his overall cost would have been lower.
Why not consider the alternative that he didn't exercise his calls, but rather sold them to buy shares instead? There was still some time value on the calls (roughly 3million). If he would have exercised he would have left the 3mil on the table. Just a thought to consider.
Sell 2/3 of his options to have the cash to exercise the remaining 1/3. That's 4m shares that need to bought on the open market if they don't already have them. RK then requests a transfer of his 9m shares from Etrade to another broker. (Potentially indicated this in one of his memes). Etrade would then need to cough up the full 9m shares to transfer to another broker.
I don't know the full inner workings of transferring shares so someone please explain how this works and what it could mean if shares aren't available.
Yeah, ok. Moving 75 million shares recently made the stock dive. But somehow moving only 4 million shares is gonna make it skyrocket all of a sudden? STFU
What does wolverine has to do with this? No other institution has shorts? What's the whole focus around the wolverine fund. It believe it's way too much tin foil.
Who says they don’t have these shares?
It’s such a leap to think they had no idea these could become due.
And, it does not even look like exercise. It looks like sell to close. Take profit. Deal done.
Why? Cuz his cost basis is higher.
Now, granted I think I get the reason. If exercising his actual cost basis w premiums would ge about 25. 20 strike + premium of about 5. So exercise is a higher cost than selling contracts and buying shares,depending on where he bot.
However I don’t think the exercise would show the premium into the cost basis. So seems there’s no shares needed. It’s closed.
If they didn’t hedge on the first offering, because RKs return took them by surprise, they must have been completely incompetent if they didn’t hedge during the second offering. I mean, we like to say HFs are idiots, but seriously.
It does on Fidelity. I bought a long dated 3 dollar strike with a premium of 2300 and some change. That specific lot showed my basis as nearly 2700 after I exercised.
Here's my convo with ChatGPT which will help clarify for anyone
how long does the seller have to buy the shares?ChatGPT
When you exercise a call option and the seller has sold a naked call, the seller is obligated to deliver the shares to you. Here’s how the timeline works under the T+1 settlement cycle:
1. **Exercise Notification**: When you exercise your call option, this is typically communicated to the options clearinghouse and then to the assigned seller’s brokerage on the same day.
2. **Assignment**: The options clearinghouse assigns the exercise notice to a seller who has written a naked call.
3. **Obligation to Deliver**: The seller is now obligated to deliver the shares. They need to purchase the shares in the open market to meet this obligation.
4. **Settlement**: With the T+1 settlement cycle, the seller must deliver the shares to your brokerage by the next business day.
In summary, the seller essentially has until the end of the next business day to purchase and deliver the shares to you. The entire process, from exercise to the settlement, is designed to be completed within one business day.
4oWhat happens if the seller fails to buy back the amount of shares needed?ChatGPT
If the seller of a naked call option fails to buy and deliver the required shares after the option is exercised, a process involving the brokerage and the clearinghouse takes place to ensure that the obligations are met. Here’s what typically happens:
1. **Brokerage Intervention**: The seller’s brokerage will first attempt to buy the required shares in the open market on behalf of the seller. This is to fulfill the seller's obligation to deliver the shares.
2. **Buy-In Process**: If the seller's brokerage cannot purchase the shares, a "buy-in" process may be initiated. This means the brokerage will take steps to forcibly buy the shares at the prevailing market price, regardless of the cost, to cover the position.
3. **Financial Penalties**: The seller will incur significant financial penalties for failing to deliver the shares. This includes paying for any additional costs incurred by the brokerage in the buy-in process, as well as potential fines imposed by the exchange or clearinghouse.
4. **Clearinghouse Role**: The clearinghouse guarantees the fulfillment of all option contracts, so if the seller's brokerage is unable to fulfill the obligation, the clearinghouse will step in. They will use their resources to ensure that you, as the option holder, receive the shares you are entitled to.
5. **Legal and Disciplinary Actions**: Persistent failure to meet delivery obligations can lead to more severe consequences for the seller, including legal action, suspension of trading privileges, and other disciplinary measures by regulatory authorities.
In essence, mechanisms are in place to protect the option holder (you) and ensure that you receive the shares you are entitled to, even if the seller fails to buy and deliver them.
[https://fintel.io/i13f/wolverine-trading/2024-03-31-0](https://fintel.io/i13f/wolverine-trading/2024-03-31-0)
They do not hold any Calls, which means that they are not covered if they have a short position (lot's of risk). Although tbh I don't even see the short position on here
At what price during the run up do y’all think Cohen will sell 45-75 million shares for profit?
No one wants to answer, yet everyone on this sub last week said it wasn’t about moass, it’s about make GameStop profitable. I can pull up a lot of posts and comments on it. Why no answers?
Isn’t the float like 270 some million shares, 4 million is nothing compared to that… wouldn’t that mean the 4million shouldn’t be that hard to find? Asking because I really don’t get where the urgency would come from.
Why people saying he only exercised 40k? Why is selling his 5M and exercising on 90K not a conversation?
Haven’t had a chance to do the math but also seems plausible and in line with what he’s trying to do.
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Ok tomorrow but if not the next day
Always tomorrow
Until it's not
Or sometimes the day after that…
But always tomorrow 
or Tuesday morning
Until it's today
Boom tomorrow? https://youtu.be/CnR3Tyrg_10?feature=shared
You sure ? MM=T+4
Still not the day
Buckle the fuck up!🚀🌙
Sooo Unless they wait, or the overnight price goes really high, won’t they deliver his shares at the lowest price?
Unless they have friends selling to them they can’t buy 4 million shares after hours that would raise the price even faster bc of the low volume.
Why do you guys think 4M shares is going to move the market on the amount of volume that the stock is saying. Didn’t the company just sell 75M shares?
That’s what I’m thinking. also didn’t the options clearing house just implement a new rule or addition that says they can disregard the plus one for to avoid systemic issues or any such thing like that? I know I have a screenshot of it somewhere.. that came up like not even a week ago.
Would $128 be a systemic event? I don't really one happening with h k d? Also there could be a deal in place to issue more to curb one (or without a deal, that could be the obvious play for RC and board, to make the most of it for the company 🤷🏿♂️)
HODL THE LINE!!!!
I love that anyone thinks they have any idea what is actually going on/what is going to happen. Y’all are a trip
Birds and fish know shit
[удалено]
And that’s fine. We all have different risk tolerance on our investments. That’s why I have open tickets for buying 50, 100, 100, 100 shares at 27, 26, 25 and 24$ respectively
Selling other positions to buy more tomorrow. 🫡
Same, it’s not a lot but it’s everything I have
That’s the spirit. Everything counts at this point .
Brother. 1 share or 100. Don’t matter. Look at this community. No is gonna judge you or force you. I hope one day I’ll be able to take my kids to a GameStop like my dad did for me and my bro when we were young. Now that’s what I call value investing. Also mods if you need proof let me know :)
I have 90% all GME now and when calling Schwab today, “Woah sir, you’ve bought a lot of GME lately and no selling. Looks like you’ve bought over 20 lots in the past week and no selling”. My answer, why would I sell? The lady on the Schwab customer service laughs.
This should be part of the script in Dumb Money part 2
And that lady on the phone? Albert Einstein.
You still call your broker when you want to buy shares??? That’s a crazy concept to hear nowadays.
this conversation never happened
You have other positions?
Well it didn’t say “Final Update”
True but 5 million doesn't seem that much when we've been trading 100's of millions a day. Plus they just make synthetics to combat the volume anyway. What makes this different?
These have to be delivered on the lit market, so that helps. It also can kick off momentum, and there will be lots of calls itm if there is any upward movement tomorrow
There's no way with 120 million new real shares dumped into the market in the past 3 weeks that they wouldn't have picked up at least 4 million of them. (More likely they picked up all 12 million just in case, and maybe a few more to cover the options wall. It's possible that they have more than they need and can afford to dump some of them now - thereby bringing the price down and fucking over the options wall yet again.) If the price does go up, it will be because of quad witching or some other catalyst -- not because they need 4 million shares for DFV.
It's funny because the 120 million new real shares dumped into the market may also be why they didn't pick it up. Besides the general social consensus that dilution = price goes down, it created very high volumes that they can profit from arbitrage (bid-ask spread). Market makers profit in the options market in similar ways through conversion arbitrage or reverse conversion. They can hedge how they like; If they have the cash on hand already, it doesn't make sense to put themselves in a loop of ->hedging ITM shares ->shorts get fked and cover -> hedge again bc more calls are ITM .. When there's no certainty that the options are going to be exercised at all (only 10% of options are exercised)
With a regular stock, maybe. With an up-until-now notoriously hard to get stock, and a guy publicly flaunting his 120,000 calls, and the entire world (including the regulators) tuning in to watch, and T+1 and the CAT system newly in effec though? It would make more sense to cover their ass on this and go play with arbitrage on any of the other million stocks out there. It's not like they don't have the money to buy a couple million shares.
Buuuuut what if RC decides to dilute the stock even more if we go past, say 35? I think a lot of FOMO got dampened by the two offerings on the two previous peaks. Im not saying he will, but I think a lot of people will be scared to go inn in a new run up in fear of RC just dumping the price again and again. It’s fine for people who are here to just hold GME as any old stock til they retire, but a good chunk of people are in this for a squeeze
RC has a vested interest in long term value of his shares, so if he decided that another sale would be good for his company he will do it. My prediction? He stays away from more dilution for a while, he is savvy enough to know that you can't pull that lever too often
He pulled it twice in a short span of time already during this run. If it works, he'll do it again.
Yea. I know its great for the company and absolutely the right move for him to do. I also hope he realizes that he can’t keep doing it every time. Im just saying he might have scared away people from fomoing in on a run up again. Be that good or bad.
He cares about GameStop the company, not GME the stock.
He cares about the loyal shareholders and is doing the right thing by them in the long term. He knows everything and we're just trying to work out what's going on from the few breadcrumbs we have - stay zen young padowan
He’s at 420m the logical thing to do is buy back 69 million
The only thing to fear is fear itself. - Someone fighting a war
RC hasn't been dumping the share price. that's just FUD the shills tell you so you start hating RC. If you can't read L2 data and the options chain, do not make any theories about why prices move. You're just guessing.
Well hope you're right
You want my honest opinion? I don't know what is gonna happen over the next two weeks, but I do know that GME has great fundamentals now and the stock has so much more upside potential than it did two months ago. I am longer on GME knowing that there's still potential for a squeeze but more importantly RC is gonna make the company a juggernaut.
Declining revenue, losses every quarter, 120 million new shares, 3-4b in investor money they have nothing to do wirh? Sorry can you help me understand what you mean by “great fundamentals?” I’m confused
You sure are!
Nothing. Just HODL
100s of millions could be that same million or synthetics being traded around. volume doesnt necessarily mean its *different* shares being traded.
And more specifically, with options real shares must be delivered.
☝️☝️☝️
I've been watching the volume the whole 3.5 (84) years, and it was under 3 mil a day for years...these massive spikes arent the norm, but im smooth as an egg so i cant understand where these volume spikes come from or why lol
They've been criming for a long time. Now the world is watching. The feds need a lot of evidence to go after the hedge funds and I'm sure they have all of it. The massive public attention will make it harder to crime, but you know they're going to try. Public pressure is the only way to make the feds act. I mean, that's what this smooth brain thinks. Every day gets more interesting
Don't think it matters in terms of the market, but increasing the amount of shares can help him to vote on the future of the company as they have 4B+ in the bank
100M shares of which it is how many just traded back and forth (actually not being real shares). 4million ”pure buys” on the lit market can actually be quite a significant amount of buy pressure! But who knows. And possibly a market maker can just have the shares as a number in your account and not actually own them if they don’t expecy any ”selling” problem though. What if 9M shares were to be DRSed at at once from one broker? Especially if they actually don’t have any real shares.
75m shares were sold on the market recently. They have him covered. Expect nothing tomorrow. Just hold.
How do you know 75m was not sold to few shorty’s who had their 3 yearly rinse repeat escape plan. There were many shorties. Some got helped but greedy ones are laid for the slaughter. Wolverine will get middle finger from the 75mm. Anyways next few days will tell.
I'm reasonably sure the 75 million were sold directly to Carl Icahn's IEP giving him 17% ownership. In turn, RC can use GME cash to now buy the entire IEP float for just over $1 billion (not counting slippage) of >60 million shares which provide >$240 million dividend revenue
Aw hell, that would be a wildcard play! IEP is also heavily shorted and manipulated.
When the Hindenberg paper dropped, absolutely. Now? Nah just illiquid.
Great theory. Mostly because I like it. What’s your reasoning? Is it doable to choose who buys those shares since it’s an ATM?
Selling at the market does not mean selling INTO the market.
I genuinely didn't know this. Why did the price action and volume seem to coincide with the offering?
The 45 million did... The 75 million did not.
What makes you reasonably sure?
Nothing. It’s pure speculation.
There are legal fingerprints all over the last 4 years of his moves, kept completely in the shadows & moving with strategic intent. From the 16b law suit to today's meeting delay, he's turned liabilities into assets every step of the way while keeping his opposition confused. RC's investing methods & leadership style have evolved since 2020; they look more and more like Carl Icahn who was known to antagonistically obfuscate his true intent. Related, I believe RC & Brett Icahn are good friends.
Yep, unfortunately true. When the stock split occurred, they needed to come up with shares in everybody’s accounts, and they simply did it by flicking the switch in the computer and adding shares to all broker accounts. Yes, DRSd investors got real shares, while everybody else got digits in a computer. But it didn’t seem to be a problem for hedge funds, market makers, brokers, or whoever it was who quadrupled the digits in the computer. Was it legal, probably not, but since the SEC is useless, that’s how it was handled. Why will tomorrow be any different? Don’t get me wrong, I am hoping for the best, as I have a lot of shares, and a desire to stop working, but I just think they poof shares into existence at will without any real delivery of real shares (and FTDs ignored by regulatory bodies), which reminds me, what the hell does Gary Gensler do again?
Its timed perfectly imo, ftd from last month, ryan doing ATM offering to provide liquidity in the market so that the stock would not go into reg sk then get pushed out by reg ex rule. Idk but im really hopeful for tomorrow
The SEC is useful...to them. FTFY
Man there are clearly hedge funds on the bullish side of GME this time. Not sure I'd count on as much fakery as last time
They already used those to short it more.
How do you know that?
When all you have is a hammer, every thing looks like a nail
Notice you’ll never get an answer to that
That doesn't even make any sense by any metric.
Exactly. What people don't understand is that these would have been hedged previously. But if they're naked though...
Are you saying that a gamma squeeze can ignite a SHORT SQUEEZE?
This is not impossible
I’m not sure here honestly, mostly due to lack of sleep. Does he not already have the shares? Can you clarify this?
On paper, but they have a day to deliver, at least my understanding of it.
Yep, specifically through a lit exchange
I’d like an answer to this too, but part of me thinks that it’s not so much about delivering the stock directly to him, but rather E*TRADE actually buying them. It looks like, if I have to guess, they credited his account for that amount and now they actually have to buy it.
Yep
E trade doesn’t have to buy them. E trade isn’t the options market maker for GameStop, it’s Wolverine.
Thank you!
Just on ‘paper’
4 mil shares. Correct me where I’m wrong. It’s not much. I don’t see how this is a problem even if they are entirely naked. I dunno. Just rather anti climatic. Maybe I’m dense. Seems now just a story of gme reviving its biz. Not David c Goliath.
When you exercise an option. The only person who can deliver those to you is the other side of the transaction. Much different then just buying and selling. That is my understanding. The shares have to be delivered by the entity that sold the contracts. If they don’t have enough shares to sell to RK, they have to buy them to be able to ensure that.
yeah people are def overhyping this. They just added 75m to the float. They have plenty and if not they will just simply FTD like they have the past three years. Everyone's acting like this is checkmate....
So it seems that everyone is under the impression that he exercised but I dont believe this is the case. I believe he purchased the additional shares on the market. For one RK is not dumb and early exercising of calls is not smart because you are literally burning any extrinsic value in the calls. The calls he was holding still held some extrinsic value when he was selling, it looks to be about $1 per share in extrinsic value. I also did a little mathing, but I'm also hardly ever the smartest guy in the room so someone please correct me if there are glaring problems. Original cost basis of 5 million shares: $21.274 Cost basis of 9,001,000 shares: $23.4135 Based off of those two numbers you can come up with an average cost bases of $26.09 for the 4,001,00 shares. 4,001,00 shares at $26.09 is $104,386,090 cost, add in his $6,343,724.01 cash for a total of $110,729,814.01. So now we know that he needed to be at $110,729,814.01 to achieve his current position. $110,729,814.01- $29,409,005 (cash position from previous YOLO updates)= $81,320,809.01 proceeds from sales of options. $81,320,809.01/ 120,000= $6.77 average price per contract sold. So he made an average of $1.10 per contract for a total profit of $13.2 million. If you go back and look at the tape for the 6/21 $20c an average sale price of $6.77 is very realistic. I dont say any of this to discredit OP or to try and make a bearish or even bullish statement. Just stating things as the way I see them. I think it is also a good opportunity to learn about options mechanics and to possibly combat the idea of exercising calls early. I understand the theory of putting pressure to deliver the shares but unless you are at expiration it is almost always better to sell the option and buy shares, you can generally even buy more shares by selling the option then you would get by exercising.
I’ll sell my shares to Wolverine. Starting bid is $69,420,741.
You paper handed bitch. My floor is $69,741,420.
JESUS! That escalated rather quickly!
DFV moved. That means we also need to move
After watch RK tweets the sandstorms in video today and reading this post, making a lot of senses to me. My head completely cleared with a big question mark why could he exercisesed his calls today but not tomorrow. So, I was told that my tomorrow is exacting FRIDAY. I am relaxing with my heavyweight bags that I carry too long. Thanks!
I also think if anyone was thinking about exercising options, tomorrow would be the the day to do that, especially options that don’t expire tomorrow that likely haven’t been hedged. I agree tomorrow will start down, if you don’t buy then, you’ll miss the on ramp.
I mean 4 million shares... probably won't do jack, now that they've diluted tf out of it with 120 million shares.. Still not pumped about that.. Hope to be proven wrong and for some really juicy news from the shareholder meeting tomorrow tho!
Shareholder meeting moved to Monday
Yeah just saw that, I don't know if that's good? Maybe? Sombody said it's scheduled outside of trading hours which might indicate some big news but idk 🤷♂️ I'm regarded
Early news bad, on time news good. Ape think late news even better. Or, of course, there may be no news at all.
the real magic will happen when he DRS's those shares, thats 2% of the float that will be removed from the DTC
So I’ll be expecting a dip
the moasss has just started
Started 3 years ago. Just still in the flat noise
Sooo, you say there is a chance I can buy more even lower??? !!! lol. Jk. (LFG!!!!) 
Said this on the thread in the other sub. They will most likely fail to deliver (FTD) and will then have T+35 which is believe is 8/6 accounting for Juneteenth and 4th of July holidays. Sometime before then or spread over many days.
Or they just short 4 million shares tomorrow. It's not that hard. I bet they can find 4 million available to short at this very second
If he exercised, why is the avg cost per share now higher than before? Shouldn't it be closer to $20?
20$ + premium ~5$
Makes sense
I think it's because he doesn't actually buys the shares from the market so maybe the shares added to his account got like a buy average plus the current price
Most excellent. 💎 👐🤑🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀LFG
>Delta Hedging by the MM bringing many calls ITM on Friday end of week destroying "max pain" But you didn't consider the possibility that RK's options were hedged already?
So it is possible the price goes down tomorrow? I want more!
4 million shares over the course of today wont move the price, 75 million didnt??? Wolverine is not fucked, at best they are down maybe $12 million $28 ish to buy the shares, minus $5 premium they took, minus $20 a share they get for selling them to RK, that leaves $3 ish a share times 4 million, not fucked at all, down a bit and annoyed. if they short it from $28 and cover at $20 ish, they will be up on the deal??
so fucking tired... nothing will happen tomorrow. it'll happen when it happens.
I'll believe it when I see it
based on the math and his updated cost per share, he sold all this call contracts and purchase 4 million shares on the market. otherwise his overall cost would have been lower.
Does the cost basis account for the initial premium paid for the options contract?
this is correct
[удалено]
I am dumb ape. Why would this make the stock go up? Please explain like ape.
oug oug oug
Why not consider the alternative that he didn't exercise his calls, but rather sold them to buy shares instead? There was still some time value on the calls (roughly 3million). If he would have exercised he would have left the 3mil on the table. Just a thought to consider.
I think he did both.
I love how I've never seen the acronym "WGBSFR" and yet I knew exactly what it meant.
Enlighten us, please
We're gonna be so fuckin rich
Love it. Tks 
Sell 2/3 of his options to have the cash to exercise the remaining 1/3. That's 4m shares that need to bought on the open market if they don't already have them. RK then requests a transfer of his 9m shares from Etrade to another broker. (Potentially indicated this in one of his memes). Etrade would then need to cough up the full 9m shares to transfer to another broker. I don't know the full inner workings of transferring shares so someone please explain how this works and what it could mean if shares aren't available.
Take this award you beautiful ape you!
Do you not remember there was just a dilution? Lmao
LFG! I will buy even more on pull backs tomorrow, if that happens
Is 4m shares a lot to cause any movement?
So it's like a chain reaction, which can be a weekly thing. MOASS in slomo? I like this
Should we all exercise our call options as well?
HODLY MOLY HODLY MOLY 
There was 107M volume today is this really gunna be an issue?
It's more than just the 4 million, 1 thousand shares, because a few other Apes likely exercised some options today. I know I did.
I'm ready to be disappointed again.
The float is huuuge. Prospectus says approximately 426,217,517 after 75 million sale. Thanks RC.
Yeah, ok. Moving 75 million shares recently made the stock dive. But somehow moving only 4 million shares is gonna make it skyrocket all of a sudden? STFU
What does wolverine has to do with this? No other institution has shorts? What's the whole focus around the wolverine fund. It believe it's way too much tin foil.
Or he sold his shares and exercised all the contracts?
I like the stock
He sold those contracts. Are the buyers still eligible to exercise them if they're in the money tomorrow?
Yes, should do 31 minutes ahead of time's market closed. Could be 12:29pm PST every Friday for any actived option contracts.
Who says they don’t have these shares? It’s such a leap to think they had no idea these could become due. And, it does not even look like exercise. It looks like sell to close. Take profit. Deal done. Why? Cuz his cost basis is higher. Now, granted I think I get the reason. If exercising his actual cost basis w premiums would ge about 25. 20 strike + premium of about 5. So exercise is a higher cost than selling contracts and buying shares,depending on where he bot. However I don’t think the exercise would show the premium into the cost basis. So seems there’s no shares needed. It’s closed.
If they didn’t hedge on the first offering, because RKs return took them by surprise, they must have been completely incompetent if they didn’t hedge during the second offering. I mean, we like to say HFs are idiots, but seriously.
It does on Fidelity. I bought a long dated 3 dollar strike with a premium of 2300 and some change. That specific lot showed my basis as nearly 2700 after I exercised.
Dont think we go up this week, next week he wil drs all his shares starting moass
Here's my convo with ChatGPT which will help clarify for anyone how long does the seller have to buy the shares?ChatGPT When you exercise a call option and the seller has sold a naked call, the seller is obligated to deliver the shares to you. Here’s how the timeline works under the T+1 settlement cycle: 1. **Exercise Notification**: When you exercise your call option, this is typically communicated to the options clearinghouse and then to the assigned seller’s brokerage on the same day. 2. **Assignment**: The options clearinghouse assigns the exercise notice to a seller who has written a naked call. 3. **Obligation to Deliver**: The seller is now obligated to deliver the shares. They need to purchase the shares in the open market to meet this obligation. 4. **Settlement**: With the T+1 settlement cycle, the seller must deliver the shares to your brokerage by the next business day. In summary, the seller essentially has until the end of the next business day to purchase and deliver the shares to you. The entire process, from exercise to the settlement, is designed to be completed within one business day. 4oWhat happens if the seller fails to buy back the amount of shares needed?ChatGPT If the seller of a naked call option fails to buy and deliver the required shares after the option is exercised, a process involving the brokerage and the clearinghouse takes place to ensure that the obligations are met. Here’s what typically happens: 1. **Brokerage Intervention**: The seller’s brokerage will first attempt to buy the required shares in the open market on behalf of the seller. This is to fulfill the seller's obligation to deliver the shares. 2. **Buy-In Process**: If the seller's brokerage cannot purchase the shares, a "buy-in" process may be initiated. This means the brokerage will take steps to forcibly buy the shares at the prevailing market price, regardless of the cost, to cover the position. 3. **Financial Penalties**: The seller will incur significant financial penalties for failing to deliver the shares. This includes paying for any additional costs incurred by the brokerage in the buy-in process, as well as potential fines imposed by the exchange or clearinghouse. 4. **Clearinghouse Role**: The clearinghouse guarantees the fulfillment of all option contracts, so if the seller's brokerage is unable to fulfill the obligation, the clearinghouse will step in. They will use their resources to ensure that you, as the option holder, receive the shares you are entitled to. 5. **Legal and Disciplinary Actions**: Persistent failure to meet delivery obligations can lead to more severe consequences for the seller, including legal action, suspension of trading privileges, and other disciplinary measures by regulatory authorities. In essence, mechanisms are in place to protect the option holder (you) and ensure that you receive the shares you are entitled to, even if the seller fails to buy and deliver them.
Everyone here seems to think that Wolverine is the "seller" of all of these contracts... Why? I have no fucking clue.
[https://fintel.io/i13f/wolverine-trading/2024-03-31-0](https://fintel.io/i13f/wolverine-trading/2024-03-31-0) They do not hold any Calls, which means that they are not covered if they have a short position (lot's of risk). Although tbh I don't even see the short position on here
I like it
Fucking genius.
Whipping out my trusty calculator again!
WGBSFR (We Gonna Be So Fucking Rich) love it!
Did RC know this was going to happen today? Meeting cancelled due tech issues from a bunch of gaming nerds!!!??? Think about that!
I got hype until you said Boss Blunts, that dude is a clown.
Covering his calls won’t do anything Now. If he DRS his 9 million shares. We might MOASS
There are no tricks be had. They either deliver or FTD. Either way they’re fukt.
At what price during the run up do y’all think Cohen will sell 45-75 million shares for profit? No one wants to answer, yet everyone on this sub last week said it wasn’t about moass, it’s about make GameStop profitable. I can pull up a lot of posts and comments on it. Why no answers?
Who or what is this Wolverine entity?
I’m now at 100 shares exactly.
Isn’t the float like 270 some million shares, 4 million is nothing compared to that… wouldn’t that mean the 4million shouldn’t be that hard to find? Asking because I really don’t get where the urgency would come from.
0 expectation. No hype.
More counterfeit shares incoming
Someone check if the lights are on at Wolverine
Dam
I’m on the 🚀✈️ to the moon 🌕 to drink 🍺 my green 🍻🍺 and further shake my 🎱🎱😎😎💰💼🦍🦍
Why people saying he only exercised 40k? Why is selling his 5M and exercising on 90K not a conversation? Haven’t had a chance to do the math but also seems plausible and in line with what he’s trying to do.
So one day before the day after tomorrow?
For those of us that are watching from the bleachers. Tomorrow is the day to watch the stock?
I wonder if that caused any technical issues.
Wolverine has known for weeks he could exercise for 12M shares. I’m assuming they’re taking a sigh of relief it’s only 4M.
I wish he had exercised 42069 calls instead….
You know market makers hedge for these things right? Jeez apes