reed13k wrote:
“Well the Redditers did it. GME closed above 320 which means that over 95% of the calls are in the money to be exercised by contract. They are still holding their shares with 120% of the stock shorted as of this morning. Holders on the other side of the contracts must buy shares or provide cash to fulfill the contracts or default. If the contract holder defaults it goes to the deal making middleman. The contracts have about 3 days to be fulfilled so the ride isn’t completely over.”
So that means Monday will be an ‘interesting’ day?
actually... this might be a suicide weekend for some wall streeters... not that I want to see that... but Sunday night when Tokyo opens it could start to see movement. This thing has gone global and the purchases are going to start immediately. I think they have up to 3 days to cover based on volume in some way... but yes... Monday will be “interesting”