What makes GETY gamma squeeze unique? via /r/wallstreetbets #stocks #wallstreetbets #investing


What makes GETY gamma squeeze unique?

What makes the GETY gamma squeeze situation unique

500K float is one thing. A lot of stocks have floats like that. The insane short interest – 2 million or whatever – even that is not unheard of.

What makes this truly unique is the call option contracts coupled with the small float. Retail can spend $3,000 on 100 shares or $3,000 on six $30 call options that cause the option writing funds to buy 600 shares as soon as the contracts go ITM.

There are over 6,000 August call option contracts that are ITM according to Yahoo from strikes ranging from $2.50-$30. That alone is over 600K shares locked in hedge. That doesn't consider the volume on each strike today, the fact that the $35 strikes and likely $40 strikes are going ITM tomorrow and the open interest on the September to February options.

Gamma squeeze indeed. This is GME on steroids.

Submitted August 04, 2022 at 10:59PM by Vgarba1
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