oh i talked to TastyWorks (3 times), it was Apex
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Replying to @FREAK0NAUT @nope_its_lily and
also i don't think that is true about the shares
@macrocephalopod not when the trading range is 450-150 in 2 hours period1 reply 0 retweets 0 likes -
Your entire explanation for why the stocks spiked in the first place was “gamma squeeze” which implies the option sellers hedged, now you’re saying you think most of them didn’t?
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no i'm saying the stock drops from 450-150, that means they're selling the hedges correct?
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Only for the strikes above ~150 but those are the ones that are least likely to expire in the money.
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right... it was at 450 this morning... that's a lot of strikes
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My point is that the strikes above 150 are unlikely to expire ITM so there is nothing to deliver and MMS don’t hold stocks against them. For strikes below 150 they are more likely to expire ITM, and the dealers hold stock against them. The idea that there is going to be ...
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Replying to @macrocephalopod @FREAK0NAUT and
... a ton of stock buying as soon as the options expire is completely wrong, because the option writers (mostly) already hold the stock they need to deliver!
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Replying to @macrocephalopod @FREAK0NAUT and
More likely is that many of the long option positions will be closed out before expiry which means the dealers will hold redundant hedges and it will result in a lot of stock *selling*.
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probably rolled over
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Definitely! But I would bet that a lot won’t be (especially since some brokers will auto close).
10:52 AM - 28 Jan 2021
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