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$GME - Is it go time? (Not a DD post)Hey all, Not a DD post as i think the rocket is on it's way up already, so what's the point right? I think we're in fact trading on Max Pain even though many people (including myself previously) are now convinced that we're not. I've collected my own Option Flow data and compiled it and realized that the max pain for the OI of the past 2 days is $290. For the price to drop significantly today there must have been new excessive call/put buys or actually contracts being closed due to the new OCC-003 coming to effect today which increases market makers collateral requirements for options. This would mean it would be much harder for them to keep kicking the can down the road using deep ITM puts and married puts. I speculated that there would be a sort of flash crash when wer'e near $300 on one of my reddit posts 1 day before the actual mini flash crash from $292 down to $260 happened. This assumption was based on the HUGELY uncommon amount of ITM puts at $300 purchased on the 23'rd of May for $61 million premium dated to expire in 2022 and 2023 January (lmao). My assumption was that somehow exercising these would flash crash GME, but i think that's completely wrong, i think what actually happened was that they dumped/closed those contracts yesterday with something like 95% loss which caused the other side of the trade (algo) to dump the shares it was hedged with and this was likely the reason behind the drop from $292 to $250 ish yesterday. Today 3'rd of June i assume the reason why we're a bit down is that because more contracts are being dumped due to OCC-003 coming into effect today EOD. If they don't dump them, it'll mean insta-margin call tomorrow, so they have to dump them or at least that's the assumption i'm making. By dumping those contracts they're severly affecting the Max Pain point between call / put open interest for GME which is likely the reason why we're moving so erratically. Jefferies has also restricted short sales on GME today which is quite funny because of it's timing with OCC-003's arrival today. It says a lot. I think the rocket is off and is only a few meters/feet off the ground right now. If these levels at $240-$250 hold and we bounce off upwards from here then that's fantastic news because the GME chart is likely to be fully vertical by the end of June as the price is moving up logarithmically right now and that's bloody insane. ~$250 is the bottom of this logarithmic/exponential curve. Let's see what happens, strap up, lay back and relax and prepare yourself for a generational wealth transfer. I'll be doing a DD write-up later on as i have too many theories on how they've been able to game the system for this long and how it's coming to an end for them due to the recently introduced new regulations under the SEC, FICC, DTC, OCC, NSCC etc. I've contacted the SEC in regards to the deletion of regulation SR-DTC-2021-005 and requested a FOIA update on it. This should get the wheels turning and questions asked on who deleted this 1 regulation that literally kills share rehypothecation.
NYSE:GMELong
by leenixusu
4
BOASS (Big Brother of all Short Squeezes)Medical History: Based on Fibonacci levels expect a return to high 200s. Also expect some profit taking at that point. I am not expecting a return to low 100s, and although I wouldn't rule it out, R/R is favorable for long positions. Regardless of earnings details there will be volatility, and if a retracement occurs those who have been on the sidelines are likely going to take this opportunity to jump on the bandwagon. Lab Investigations: -Fibonacci levels -Wyckoff accumulation model -Decreasing Volume and MACD divergence Diagnosis: Squeeze Management Plan: Buy the dip Don't forget to like & subscribe!
NYSE:GMELong
by DanMTrading
$GME Update + In Depth Technical AnalysisAs you can see, GME has yet again shown another day of upward momentum similarly to January earlier this year. It has reached its Fibonacci levels how I anticipated in previous posts. We saw resistance yesterday at the 38% retracement level around $215 near the close, but further steam gathered in post and premarket trading as AMC began to take off as well, sparking the "return of the squeeze" from WallStreetBets apes. AMC has nearly retraced from its highs nearly 100%, and GME has shown very similar price action and breakout patterns but seemingly after AMC this time. Price jump in the morning pushing it even higher right through fibonacci resistance level, now approaching 50% retracement which is ($265). I do see this going to that level, and option flow volume tells the same story. The price targets are respective to fibonacci levels, and important levels to look watch in the coming days and into next week. PT1- $211 > 38% PT2 - $265 > 50% PT3 - $315 > 61% PT4 - $387 > 78% PT5- $485 > 100 I personally believe this easily goes to $265 short term, and then depending on how it reacts at that level with price action and volume, judge it and update through a post accordingly. I think AMC Retracement levels are giving people confidence and even causing some speculative buying because of how AMC has traded in respect to fibonacci levels. Options Flow Summary & Heatmap Top Contracts in Premiums 5/28 $250 Calls - $4.35mil 5/28 $200 Calls - $3.78mil 7/16 $800 Calls - $1.98mil Total Call Premium $ = $27mil Total Put Premium $ = $4.43mil - 0.72 Call/Put Ratio All to those factors to me, are very bullish. RSI Convergence popped nicely, and still has room to run, not being in overbought territory, as well as MACD showing a strong reversal with a value of 10.78, meaning this can most definitely move higher as previous 2 waves ran near a 50.00 value before a pullback. Hope you enjoyed this analysis and if you have any other questions, anything else you would like to see, and if you would like more detailed analysis like this let me know. Follow for more opinions, appreciate the feedback, GLTA. Twitter linked below.
NYSE:GMELong
by chartxzy
GME: Long Puts from 270-295Well here we go again, I am back to spin the roulette meal that is GameStop. Full disclaimer, I have gotten lucky on this ticker… and made money for all the wrong reasons. also lost money for… The right reasons? Anyway, I will be playing this one again despite my hesitancy, as I feel a really incredible opportunity for an options play could present it self here soon. I will admit that I have doubted the game stop journey from day one, and genuinely did not believe we would ever see these prices again, yet here we are, and that presents an opportunity! I’ll plan to buy OTM puts when if the price enters the zone on the chart (270 to 295). I really can’t give a tighter range because… Well this is GameStop after all, so my entry within that zone will really depend on the price action I am seeing. My strike will be around 195, expiration 04June2021 (cannot be totally sure so I will update if/when I open the position. I was just my personal strategy, and not intended to be trading advice. Good luck out there! - Joe
NYSE:GME
by BonoboJoJo
11
GME forming a cup and handleIt looks to me as if we are forming a base after downtrend since match 10th lost steam. I expect a trend reversal over the next few weeks and a retest of the level at 280. This is commonly referred to as a "Cup and handle" pattern. It's a very strong and very reliable bullish pattern. The underlying psychology is bulls running into a resistance, they retreat to form a base. Meanwhile the bears try to shake out paper hands, forming a slowing downtrend. At the base we have a stalement between bears and bulls, until the bears realise they now only face diamond handed bulls, leading to a retreat of the bears, a retest of the resistance and the eventual break, followed by the continuation of the initial uptrend. Trade idea: GME long stocks. Stop loss: if GME breaks 116 to the downside, I consider this prediction to have failed. Take profit: If you are just trading the technicals, the handle will likely begin at 260 to 280. If you believe in GME, buy and hold.
NYSE:GMELong
by baumulrich
1
[STOCK] GameStop (GME) Cheat-SheetThis chart is basically saying that the price of the GameStop stock is still accumulating with decreasing volume on the NYSE. We see the price reacting to either the Support ($140.00) or the Resistance ($190.00). From a technical perspective, there is no advantage in trading within the pattern. You will have a great Risk/Reward ratio after the price breaking out of the structure. There are (obviously) two possible scenarios. The current sentiment is pointing towards a bullish scenario, which can be confirmed be looking at the MACD (Moving Average Convergence/Divergence) and the RSI (Relative Strength Index). The average price is increasing while the price is going in a sideways movement. In this case, we see buyers being active on the market without being able to spot it in the first sight. For a proper breakout of the horizontal channel, we want to see increasing volume and a strong reaction at the support/resistance. This is my personal confirmation for loading more stocks. If the price moves past the $140.00 level, I will look for a lower entry around the $100 level. Feel free to check out my previous GME analysis as well
NYSE:GME
by Anton_XBT
8