Meanwhile, ppl on reddit still taking 1MM positions on GME
CLVS is moving back up…ALL ABOARD!
It was probably between the cushions
“We’ve raised $3.4 billion by tanking GME 100 points and we’ll start letting people buy it again as soon as it drops another 100.”
My boss has said the following verbatim 5 times so far this morning - “Siri what is gameboxes stock price” I can only assume he means GME. If it wasn’t obvious already this ship has sailed.
On a positive note - FUUUUBBBBOOOOOOO 
Matt Levine has been killing it in his daily newsletter regarding Gamestop. There’s too much there each day to copy here, but this is amazing and everyone should read it:
Puts. Benn Eifert of QVR Advisors pointed out a fun options fact on Twitter. Let’s say that, back on Jan. 21, when GameStop’s stock closed at $43.03, you thought it was wildly overvalued and wanted to bet against it. You could have sold the stock short: Borrow shares, sell them for $43.03, hope to buy them back cheaper. Or you could have bought a put option: Pay a premium, and then if the stock plunges you can sell the stock at the put strike price. You could have bought a $10-strike April put for just 33 cents: If the stock fell below $10 by April, you’d get back the difference between the stock price and $10; if it went to zero by April, you’d get back $10 for your 33-cent investment. The day before the Reddit rally really took off, the $10 puts were a way to bet on GameStop’s stock collapsing quickly and totally.
If you shorted GameStop stock on Jan. 21, you got absolutely ruined. It closed on Friday at $325; if you stayed in for that you have lost, uh, 655% of your money, oops oops oops. On the other hand, if you bought those puts, you did great. Those $10 puts, which traded at $0.33 on Jan. 21, last traded at $1.55 this past Friday. You’re up 370%. The people who bought the stock did better—they’re up 655%—but of course they were right ; the stock went up. You were wrong ; the stock did not go to zero, but you’re still up 370%. Good trade! “Well risk managed shorts should be absolutely crushing it,” was Eifert’s conclusion.
The math here is that the value of an option depends both on the spot price of the stock and also on expected volatility. In general, as the price of a stock goes up, the value of a put goes down: A $325 stock is less likely to fall below $10 than a $43 stock. On the other hand, as the volatility of a stock goes up, the value of a put also goes up: A stock that swings wildly is more likely to fall below $10 than a boring one. In this case, mathematically, the change in volatility outweighs the change in spot price.
But the intuition here is roughly—roughly![5]—that options traders think that GameStop is five times more likely to go to zero now, with the price at $325, than it was a week and a half ago, with the price at $43.03. Can you blame them? On Jan. 21 people were like “huh this price might be too high,” and would pay a little to bet on it dropping. Now people are like “huh this price is utterly meaningless, might as well be zero,” and will pay even more to bet on it dropping much more.
There are faint whispers of CLVS on WSB. It’s just a few people right now though. I like the arguments though, ‘who shorts a company that’s trying to cure cancer!! make them pay!!’
Koss massively down, clovis up
weird
Fuck, I am so bad at this.
I’m not bothered, but check the accounts posting. If I happened to hold a barrel of CLVS, or indeed any stock whatever, I’d probably think about hopping on WSB and trying to juice it. What’s the worst that could happen?
I just want this thing to get to 9 so my limit sell order will trigger. I need to get back to actually working in the day lol.
Brandon Adams has a very good podcast with Strassa out about wsb, gamestop etc. Definitely worth the listen.
https://twitter.com/badams78/status/1356286374576533510?s=20
There’s a name i haven’t heard in a long time (strassa). I remember when he left poker to go into stonking, guess it worked out for him!
Far less risk and volatility in betting the don’t pass though. (Though admitted always -ve)
My weeklies last week didn’t work out, but they’re still cheap for this week 
Still feels like this week is a GME week so I think a longer-dated flier might be the best way to gamble on it.
What, you don’t think this is a good enough endorsement?
clvs need our help . we must liberated him of the tiranics shorts. come on with clovis oncology . their save lifes with the cancer trataments
A lot of good stuff in here. Sounds like options are stupid expensive and not worth it right now.