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Originally Posted by sterlingice
Not even going to bother applying for options. Like I get there's huge potential for crazy growth. But there's also huge potential for crazy loss - at least with put options. With call options, you're just out the call fee, right? Instead, just owning the stock means, well, I'm up or down however much I actually own.
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There are ways to safely do them with covered calls or puts or spreads and the like. (Which can lock in profit, but cap the max profit if the stock moves a lot, etc) But yeah basically most novices/WSB people use it for moon shots like buying 800c's - you're smart enough you could probably learn the theta/delta type math, but that's borderline a full time job & GME is not the place to learn that hahaha.
Something like SPY Puts do seem like a good hedge if you think we'll be bearish for a decent amount of time, because I certainly don't want to get into the shorting individual stock game.
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Was kind of hoping to buy the dip today. I have seen no real dip yet.
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I don't think you're getting a dip today (unless it takes off, then pulls back again). They're still massively shorting it and they can barely gain any traction for even small dips during low volume periods.
Some new DD on possible short interest -
True Short interest could be anywhere from 250% to 967% of the float. Yes NINE HUNDRED % : GME - I'm not going to vouch for the specific numbers, but the general theory makes perfect sense to me - you simply can't have a net reduction in the amount of shorts when they make up 60% of trades every day & the stock price is still going up. Someday I want to read the books/articles about what was happening behind the doors at the big places (including the ones on "our" side!) because this seems like a slow motion train wreck happening in front of our eyes for anyone paying attention, but the only people talking about it are either blaming us for causing it, or saying we need to be protected from making bad financial decisions when we're being handed some of the easiest stock market $$$ ever.