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PaperclipPerfector  5mo ago (text post)   3392 thread views

Friday Fun Thread for June 7, 2024

Be advised: this thread is not for serious in-depth discussion of weighty topics (we have a link for that), this thread is not for anything Culture War related. This thread is for Fun. You got jokes? Share 'em. You got silly questions? Ask 'em.

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I've been making a lot of money selling far out of the money calls against it whenever the price bubbles.

Don't you have to own (many) shares of GameStonk to do that? (My understanding of options trading is quite limited.)

You would think so! But no. If you have a margin account and enough capital, you can sell them "naked" without owning the shares. Basically the broker just thinks "eh he's good for it" and will let you do whatever you want. In this case it's been eye opening... the shares are "not available to short" but there was no problem selling options. Options really are the tail that wags the dog, in this kind of market.

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