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8/23/24 - $gme - the OG meme, game time?
8/23/24 :: VROCKSTAR :: GME
the OG meme, game time?
- first, i debated whether to write this. but anyway. this is an open blog to myself. if you guys want to interact with me or this content, great. but it's a weird trading log because i've always struggled to capture my ideas and reflect on them.
- with that out of the way. i just did a lil ape into some GME calls for next week. nothing major. but 20 bps. so not insignificant for some weeklies. IV sub 50% seems kinda cheap considering a few factors.
1) the stock has held up nicely since the recent move in early may. still hugging the .786 fib. TA matters more for this one, so no fundamental stuff here.
2) earnings is not next week, but the following. the apes usually show up before the event, but not this early. they're playing salad and space laser memes at the moment (i wish i was joking, but it's a good thing to have donks at the poker tables sometimes). what this means is that any bid to the stock might allow you to see IV inflate, stock does a lil gamma gamma move and you're sitting on a double and can remove half the size and ride free on the rest. that's my current plan.
3)
NVDA next week. ALL ELSE EQUAL the market is in risk on mode. y day a lil dippity doo dah was nothing to scare away ever increasing global M2 and powell is signaling similar. while i don't think this means we still don't have one more leg down (which is why my portfolio is pretty consolidated in 35% discount to NAV 
GDLC and some 
NXT that is already in value zone... both of which i know well... while playing earnings like 
PDD next week and other event driven stuff, i'm still pretty cash heavy with flexibility).
4) i am picking up increasing newsflow that the show here isn't over. i'll leave it at that. the stock px tells me there's a greater than 50% probability of this. institutions also have their hands around it at this pt and short interest remains high.
5) i think all else equal risk to the downside given how the stock has traded remains low for the upside potential. it's been some dead money in the last months which is why IV is so low and we are a week and a half away from EPS which is enough of a catalyst to start the gossip, tweet machine again. the OG meme has ample cash to not need a raise. not burning a ton. trends suck, yes. but that's all known knowns and so i'd argue "priced in".
...
so that's that. perhaps i should start a degen friday once a week post. i've had some weird rec's to this extent. but again, capturing my thoughts for myself. if you have something to add, i'd genuinely love to know it. it's more fun to do this in a group which is why i'm airing out my laundry and trades. still shooting well, and attempting to remain humble. but looking to have fun on this one. i take the shots on these where i think my odds are better than 50/50 and i keep the sizing reasonable.
memestonk <3
V
GMEthe OG meme, game time?
- first, i debated whether to write this. but anyway. this is an open blog to myself. if you guys want to interact with me or this content, great. but it's a weird trading log because i've always struggled to capture my ideas and reflect on them.
- with that out of the way. i just did a lil ape into some GME calls for next week. nothing major. but 20 bps. so not insignificant for some weeklies. IV sub 50% seems kinda cheap considering a few factors.
1) the stock has held up nicely since the recent move in early may. still hugging the .786 fib. TA matters more for this one, so no fundamental stuff here.
2) earnings is not next week, but the following. the apes usually show up before the event, but not this early. they're playing salad and space laser memes at the moment (i wish i was joking, but it's a good thing to have donks at the poker tables sometimes). what this means is that any bid to the stock might allow you to see IV inflate, stock does a lil gamma gamma move and you're sitting on a double and can remove half the size and ride free on the rest. that's my current plan.
3)
NVDA next week. ALL ELSE EQUAL the market is in risk on mode. y day a lil dippity doo dah was nothing to scare away ever increasing global M2 and powell is signaling similar. while i don't think this means we still don't have one more leg down (which is why my portfolio is pretty consolidated in 35% discount to NAV GDLC and some NXT that is already in value zone... both of which i know well... while playing earnings like PDD next week and other event driven stuff, i'm still pretty cash heavy with flexibility).4) i am picking up increasing newsflow that the show here isn't over. i'll leave it at that. the stock px tells me there's a greater than 50% probability of this. institutions also have their hands around it at this pt and short interest remains high.
5) i think all else equal risk to the downside given how the stock has traded remains low for the upside potential. it's been some dead money in the last months which is why IV is so low and we are a week and a half away from EPS which is enough of a catalyst to start the gossip, tweet machine again. the OG meme has ample cash to not need a raise. not burning a ton. trends suck, yes. but that's all known knowns and so i'd argue "priced in".
...
so that's that. perhaps i should start a degen friday once a week post. i've had some weird rec's to this extent. but again, capturing my thoughts for myself. if you have something to add, i'd genuinely love to know it. it's more fun to do this in a group which is why i'm airing out my laundry and trades. still shooting well, and attempting to remain humble. but looking to have fun on this one. i take the shots on these where i think my odds are better than 50/50 and i keep the sizing reasonable.
memestonk <3
V
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