btw, the wallstreetbet guys kept talking about Gamma Squeeze.
It can happen in reverse.
I am convinced that is what happened with Tesla.
Someone spent some money..dont remember how much...maybe about $80k on puts that are so far out of the money that it makes no sense to buy them. When I saw Will Meade alert it I didn’t pay close enough attention. Sure enough..down Tesla went. I think it was an action to facilitate a move.
btw those puts were $20. Tesla is over $700
Someone theorized that somebody was laundering money.
Others thought it was a hedge fund just doing research.
I am going with it was an attempt at a Reverse Gama Squeeze.
If they were that far out of the money, you wouldn't need to short that many shares to hedge them
I read the guy who started the GME thing was a registered broker in MA. He acquired a huge position and then just used the reddit kiddies as useful idiots for the pump. Most of them will take the hit. The pro will walk away with millions.