196 was the high in April, so that is near term target. 2 days closing green over 180 after not being able to break it for 3 weeks is very positive. Tomorrow is T-21 from 4/20, that was a big drop day with 4.7 million volume which means up to 2.9 million shares shorted at 62.2% SI that day. Its possible a large portion of those shares need to be covered...
I moved my moon indicator over 1 week and set at 175. GME is now firmly over the 5 month downtrend started with the mini-squeeze in January. Looking like finally we are at last call before this thing goes bananas. Volume is coming back as well, options haven't yet kicked off but any big move in options will set this off.
Just tested the descending downtrend. A full break tomorrow should be confirmed shortly. A rejection would mean a retest at the end of next week. Some other interesting info. There is 4 million shares in way OTM puts expiring next week. These are opened under 30 dollars. These are rumored to allow hedge funds to not have to deliver FTDs right away. In theory...
Was Melvin and Citadel margin called yesterday? We should find out next week.
No Idea when it will go but seems likes its taking a lot of keep GME down. At some point it will start running again. Maybe all the new rules at the DTCC will need to take effect, maybe they won't. Good luck and hang in there.
Options are going to get expensive real fast, so just buying stock might be the play. Tomorrow might be last day to get somewhat cheap GME options. Its going to get nutty tomorrow and Wednesday once risk is readjusted. GME hasn't even started moving yet. Good Luck and Hang in there.
Some good DD from Reddit. "GME closed $0.01 from previous day close - This has happened only two other days in the past January 12th with a delta of $0.01 and February 23rd with the exact same closing price as open. The next day after each, the price doubled." Lowest volume day since November 2020. I feel GME might be on a slightly longer timeline this time...
So the short sellers were hiding puts and FTD's by buying way ITM options, and in this way will make them net zero. New DTCC rules have come inter immediate effect that this cannot continue. Today was the first day that hedge funds have not bought way ITM call options. A lot of these ITM options are for April 16th. The play is that GME will probably do...
The short squeeze has not started yet (float still 150% as of today) and there are 5-8 million in contracts that have to be bought on Monday. GME is probably going to 1000+, DO NOT SHORT, you were warned.