$GSX Now Down 25% From Last Call - Look At $LK Thats The Future

Title says it all on this POTENTIAL CHINESE FRAUD - We got short at $40 and posted it here - get long this name at your own risk. This name is headed the way of $LK #Stocks $GSX #trading #China #Finance
Comment: DOWN another 5% from this call - see you at $ZERO
Comment: As always not advice
Comment: DOWN 12% From This Call This Morning
Comment: ZERO on the way just be patient


This sucker is going up forever, $100 next?
Crime does pay after all
+4% today despite all the "Chinese stocks de-listing news"
mtraderz mtraderz
@mtraderz, If current stock holder are worried they would have sold their stocks, don't you agree?
Chinese are squeezing it
london55555 mtraderz
@mtraderz, It wont matter in the end
mtraderz london55555
@london55555, lol I agree
Those put option prices, LOL
July 7.5 puts going at 0.70
We've seen stuff like this before, but even after a major scandal breaks you only see a 80% drop and some short covering resulting in a pop
You can literally get the best case scenario and still walk away with little to nothing
So why are the options so expensive? Am I missing something?
london55555 DanielSong39
@DanielSong39, Do you know what implied vol is? Tha's what you're missing - this is due in large part to the recent LK fiasco ans to your question on how high can it het back up - I have no idea but i im not sure about your " it can go right and not make money" para phrase - we made over 50% in a week before we closed them yesterday in anticipation of this bounce - that said we will re short this name - I know you follow us on ST and yesterday i posted that this would happen thus our closing of our short yesterday before the close of the market and im sure you know what implied Vol is LOL
+1 Reply
DanielSong39 london55555
@london55555, I was referring only to the July 7.5 put option prices, it's one of the most ridiculous prices I've ever seen
Usually though the more outrageous they are, the more often they hit
Still, I've seen this song and dance before, it goes down 80% in a day, there is massive short covering for a few minutes, and the stock halts and it doesn't open until ages later
If you are short shares or have strike 30 puts you're fine, but if you have strike 7.5 puts you could be out of luck
london55555 DanielSong39
@DanielSong39, The Implied Vol on the Option you mention on $GSX July 7.5 is 263.83 and a DELTA of 0.03 if you think it's so nuts ,which it is, then consider selling it not buying it - if you looked at this option which you obviously did you were looking for a "loto ticket" and as you know they seldom hit. Buy it and you're the gambler not the casino. @dRends35
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