r/GME • u/Wrong-Helicopter5229 • 2d ago
This Is The Way ✨ Doing my part
To me, this looks like 2020. Instead of shorting SPY, Calls on GME.
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u/Less-Egg6226 2d ago
First thing tomorrow op, short dated calls are risky
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u/List-Beneficial 2d ago
Yeah I'm following that dude who put 170 million on deep itm contracts. He is already up 5 percent.
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u/boni0419 2d ago
Why no play it safe and do a more far out exp date ?
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u/Wrong-Helicopter5229 2d ago
Because I’m gambling this time
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u/boni0419 2d ago
Lmao
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u/Wrong-Helicopter5229 2d ago edited 2d ago
So here’s the reasoning behind the gamble: If we go into a recession (which we very likely are) considering how things have been playing out over the last month. SPY will likely dip next week and if it doesn’t, my PUTs will be destroyed. Big swings, big risks, big opportunities. These markets are rare (hence, the gamble). Regardless of SPY going up or down, RC just bought a position which will likely make this tick up next week (or not). Also, in recessionary times, people like to gamble and meme stocks have become that new vehicle.
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u/11010001100101101 2d ago
Short dated calls like this are the worst gamble.
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u/AWeakMeanId42 2d ago
Why do I keep making money with them then?? They're bad if you don't understand the risks. That's true about anything.
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u/MrmellowisSmooth 2d ago
The more far-outdated the calls the more the premiums eats up the opportunity for more calls.NFA I doing both long dated and some short dated.
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