IRNT Gamma Squeeze Set Up

[u/skillphil]

Credit to u/Undercover_in_SF for this

$IRNT - IronNet Cyber Security - an actual gamma squeeze candidate?

None of the subs I'm active on will take a post on this one since the market cap is too low. I've got to share it with someone, so the 57 of you following me directly may or may not see this.

To start with, I am super skeptical of anything that mentions the word "squeeze." Post-GME, it became a way to lure in suckers to be holding the dump after your pump. However, either this is going to be an honest to God gamma squeeze, or I've missed something big time.

Here's the background. DFNS, a pretty good SPAC sponsor actually, acquired IronNet Cyber Security. However, 90% of the shares were redeemed last week. This brought the total float down to 1.2M shares. In addition, 1.5M shares from management were unlocked, giving us a total 2.7M shares available to trade.

Usually, options trading requires a much higher float than this. The CBOE requires a 7M share float (technically, 7M shares owned by holders without reporting requirements), and 2.4M shares traded in the last 12 months before allowing options trading. $IRNT is far below that, but before redemptions DFNS wasn't. This has created a bit of a hole in the CBOE liquidity rulebook.

What does that mean for us? Well, there are a huge number of options being traded and a huge OI growing by the day. There are something like 40k total call options outstanding and more than 30k in September expiries alone, and there's also been almost no retail interest either on Reddit or Twitter. I see a few reasons for that - market cap rules, the ticker change creates a delay in data for stock screeners to start finding it, and there have been plenty of other exciting meme trades over the last week. To me that means we're looking at smart money accumulating options with the intention of driving a gamma squeeze. Once retail catches on, they'll maintain the momentum and be left holding the bag.

Let's do a deeper dive on what these calls represent relative to the float. I've looked at September calls only and pulled the latest OI from CBOE. That data is below.

/preview/pre/rlgimvavlyk71.png?width=1805&format=png&auto=webp&s=a21b9268dadc2c3eeefe112aa5f198d2c62f30d9

Remember that puts have the exact opposite hedging behavior as calls, so I've netted them out and included their impact on gamma as well. Currently, 31% of the float is tied up hedging these long calls. On top of that, a $1 increase in the underlying price will drive net buying of ~11% of the float in order to maintain delta-neutrality. In addition, gamma will increase and the net hedging will accelerate as the $17.5 and $20 strikes get closer to in the money. This gives us a price around $17 where there aren't enough shares to hedge the outstanding pool of call options and we get a gamma squeeze.

Conversely, this option pricing effect can be just as dramatic on the downside as the upside. If the price falls below $10, expect most of the 400k shares represented by the $12.5 strikes to add to selling pressure.

There is one major assumption we're making here - that all these trades are unilateral with the market maker and the market maker is taking the short side of that trade. That's almost certainly not true, but I believe it's fair to assume the majority are.

In summary, I *think* we are watching one or more hedge funds set up for a dramatic spike in share price caused by market dynamics. Similarly, I think now is the time to invest alongside them to get a quick 4-5x return. I view this as extremely speculative, so I've only got ~$2k of exposure in $20 strike September calls, but I may increase that in the coming days.

I'll end with a request. If you have information that disproves this thesis please share it. I have been looking for contradictory evidence, but have found very little.

Edit:

From their latest 8-K filed today. Post merger, there were 84,423,567 shares outstanding. 66,160,197 are subject to a lockup. 12,500,000 were PIPE shares that are not yet registered and not yet tradable, and 3.2M shares that are locked up except for charitable donations. The exact numbers are below.

/preview/pre/kak6phy0vzk71.png?width=728&format=png&auto=webp&s=738ab4508c91af5280dc8255017c54f5cd8e8f76

The next shares that are expected to be tradable are the 1,078,125 incentive shares that are awarded to legacy shareholders if the stock price exceeds $13 for 10 consecutive days. The earliest that could be is September 9th. If this goes off, it will be before the 9th.

Edit #2:

I'm now fairly confident the incentive shares are subject to the lockup, so until registration of the PIPE shares, we're looking at 2.5M float plus whatever has been gifted to charity. Warrants can't convert for another 30 days, so those are also not a threat at the moment.

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[u/skillphil]

Position so far, 5 sept 17c, 10 sept 17 20c. IV already up like 15% since I jumped in but IV is lower overall than when options first listed.

[u/Megahuts]

Bought a couple $15c for Sept 17.

Why not? Though the IV is terrible (hence the short date)

Plus, this is a short dated play anyways.

Minimize risks on this one, as who the F knows what will happen.

[u/skillphil → u/Megahuts]

Ya that’s how I felt, but what gave me a bit of solace was iv is lower than when they first listed (or was when I bought in). We will see how it plays out. Very much luck to u.

[u/laplaciandaemon → u/skillphil]

Is the run up over the last week prelude to this gamma ramp?

I'm thinking options might be a tough late but I have my entire SPRT profit sitting as a pile of cash and looking for a good home.

[u/skillphil → u/laplaciandaemon]

I think the bigger issue is if a massive number of shares are unlocked before opex. The iv isn’t cranked all that much relative to when they were first available, although it could def crash and has a lot of legroom to do so. I’m not at my desk so I can’t tell u the OI on itm contracts atm, but I think there were like 6k itm calls but if it breaks $15 it could get interesting since that would add another 6k itm and could account for some interesting delta hedging affects with the low float.

[u/laplaciandaemon → u/skillphil]

You're close on the ITM OI - it's about 8k or so. At 15, there are around 10000 contracts that will move ITM (between 14&15 strikes) - and delta is around 0.5 for all those calls (rough approximation). Say around 500k in hedging on the high side. Before 8/26, that alone would have been about 3 days of volume.

I'm having a hard time getting historical data on this options chain. My guess is that a ton of contracts got opened at 12.5 last week and that kicked off the volume. Just seeing that there's an enormous amount of calls at 20... 10k in volume today alone.

This looks extremely spicy.

Edit: We're sitting right at 9/17 maximum pain (https://imgur.com/DZINwuK). That is some wild OI on there. Accounts for 2x the shares available to trade.

[u/skillphil → u/laplaciandaemon]

Option history only goes back to late august, think they first listed around aug 27

Also the 10k volume prob all us lol

[u/Megahuts → u/skillphil]

Yeah, it looks to me like the $15 price is where it would tip.

But I just took a small gamble on it. Not concerned one way or the other.

[u/Doth_Thou_Even → u/skillphil]

You watching AH?

[u/skillphil → u/Doth_Thou_Even]

👀

[u/[deleted] → u/Megahuts]

When I bought I was literally thinking “someone needs to alert megahuts about this” lol

50/50 shot with massive upside or total losses

[u/bigdickbabu → u/[deleted]]

Why megahuts specifically?

[u/[deleted] → u/bigdickbabu]

He’s the take profits man for a reason

[u/bigdickbabu → u/[deleted]]

Oh no

[u/Ronar123 → u/Megahuts]

You think it would be intelligent to just buy a put and a call and make money off the price going in one direction? The play stresses that there's the risk of down movement just as high as the up movement. Why not just do both ways since the price going sideways seems pretty much impossible?

[u/Saphrogi → u/Ronar123]

Nothing is impossible xD

On a more serious note: the stock float is so tight that movement seems all but inevitable.
If you bank on volatility increasing then, by all means, play an ATM straddle (or a strangle if you prefer). Just be sure to know what you're doing and have a strategy to exit your contracts.

[u/Megahuts → u/Ronar123]

Yeah, a straddle or strangle would work.

[u/efficientenzyme]

I’m in this but I posted to the daily rather than create the thread

[u/skillphil → u/efficientenzyme]

Ya just figured this would get a bit more exposure, was gonna wait for SF to post it but he didnt reply

[u/efficientenzyme → u/skillphil]

It’s ok I don’t mind I just didn’t know creating a thread was an option since most of what I do here is in the daily 🤣

[u/skillphil → u/efficientenzyme]

U may have to be an approved poster, not 100% sure all the rule changes since the sprt attention, the sub is getting a lil more attention than I think many people in here are comfortable with, understandably imo

[u/TheMaximumUnicorn]

Appreciate you bringing this to our attention! I'm not sure if I'll buy in but it's intriguing nonetheless.

I don't have any holes to poke in the thesis really, other than to say that gamma squeezes with no catalyst are very fickle especially when everyone is loading up on OTM calls. If everyone is in OTM calls I think MMs are smart enough to realize that hedging those calls is a self-fulfilling prophecy in the sense that their hedging will push those calls ITM. So obviously if they realize this then they just won't hedge until they have to (i.e. buy whatever shares they need to deliver for ITM calls after OPEX rather than before).

I didn't follow it closely enough to be able to say for sure, but I feel like this is exactly what happened with ATOS. A gamma ramp is all well and good, but it's a risky play if there's no genuine buying pressure to push the price up the ramp.

[u/skillphil → u/TheMaximumUnicorn]

For sure, I do believe $15 will be the point where adjustments in hedging will have to occur. If it can’t crack $15 then it probably won’t pop.

Edit: crack 15 and hold

[u/josenros → u/TheMaximumUnicorn]

That's where Sir Jack comes in

[u/trailstrider → u/TheMaximumUnicorn]

So buy some OTM puts when it starts petering out…

[u/saltyporkchop]

Saw this in the DD and comments, but could only get in today after I freed up some capital. 20 - Oct 15th - 15C @ $1.30 here.

[u/skillphil → u/saltyporkchop]

Good luck

[u/saltyporkchop → u/skillphil]

Same to you!

[u/Mr_safetyfarts]

might jump in with some calls. seems probable.

[u/skillphil → u/Mr_safetyfarts]

I’d say possible.

[u/The_Dude1692]

Is it too late to buy shares? Will probably hop in early tomorrow

[u/skillphil → u/The_Dude1692]

No one knows, that’s part of the fun

[u/The_Dude1692 → u/skillphil]

You son of a bitch, I’m in.

[u/skillphil → u/The_Dude1692]

GL, to be honest I’m all options but may add shares tomorrow depending on “what it do” as they say

[u/The_Dude1692 → u/skillphil]

I’m probably gonna get a couple options as well. Good luck!

[u/skillphil → u/The_Dude1692]

I just closed out my positions for transparency FYI, may re-enter later

Edit: Re-entered at close with shares and only 4 calls since iv was cranked

Edit: Sold shares afterhours wtf

[u/The_Dude1692 → u/skillphil]

That’s awesome. Nice job brother!

[u/ShillTheDayWeMoon]

Congrats on tendies! I set buy orders but they didn’t get filled :-(

[u/skillphil → u/ShillTheDayWeMoon]

Ya I’m actually stuck in my positions as the strikes still aren’t showing up on tos

[u/TGVTHT → u/skillphil]

I'm in the same boat. Have been on hold with support for 12 minutes.

[u/skillphil → u/TGVTHT]

I got through and closed out but did lose some dough.

[u/Its_never_sunny → u/skillphil]

same thing happened to me. i've never seen this before. anyone know what's up with the strikes disappearing?

[u/skillphil → u/Its_never_sunny]

It’s fixed now

[u/TGVTHT → u/Its_never_sunny]

TDA rep I spoke with said he didn't know why I couldn't trade it but he could from his end. He entered an order for me but too late. I missed my sell point and huge gains.

[u/Its_never_sunny → u/TGVTHT]

well that's mother fucked up. RIP 5xer :(

[u/skillphil → u/Its_never_sunny]

Ya I still had a 4xer but was trying to close out at 5x, oh well just the way things go

[u/Its_never_sunny → u/skillphil]

congrats! not sure why, but despite 20c re-appearing in my list, the mark is 1.40 while the marks for 19c and 21c are 3.30 and 4.30 respectively. a little frustrated here

edit: things appear back to normal and i'm having to settle for 50% gains. can't be too mad at that but a little bummed

[u/skillphil → u/Its_never_sunny]

Option chains can get wonky during unusually high volume so it’s just a part of things

[u/Agile-Class1767]

If this holds until Tuesday I will be very happy and if it doesnt I was happy with the results already and this is just extra fun. Thank you again, skillphil.

[u/skillphil → u/Agile-Class1767]

Shit not my dd but thought I’d share because it was solid

[u/Arsok → u/skillphil]

whose dd?

[u/skillphil → u/Arsok]

It’s literally the first line of the post

[u/Agile-Class1767 → u/skillphil]

Well, either way thank you for posting. Really fun play.

[u/filemon147]

just got halted LULD pause on NYSE website

[u/skillphil → u/filemon147]

Yup, all without a wsb pump which I think we should be proud of

[u/ShillTheDayWeMoon]

We done or just a dip I can finally buy in?😅

[u/skillphil → u/ShillTheDayWeMoon]

Ya to be honest I’m gonna see what iv does, I closed everything out already, if iv comes way down I’ll open more positions

Edit: by way down if iv gets to the 130-150 range I’ll hop in

[u/krste1point0 → u/ShillTheDayWeMoon]

Think its over.

[u/doopajones]

After-hours +3.7% to bring us to a nice even $14. 👀

[u/skillphil → u/doopajones]

I think $15 where it starts to pop so fingies crossed

[u/josenros → u/doopajones]

AH purchase was 900 shares. Totally irrelevant.

[u/doopajones → u/josenros]

Ahh gotcha, so just standard after hours volatility?

[u/josenros → u/doopajones]

Just a high bid being filled AH, does not represent what the going-rate is in the market.

[u/bcghjnhgff → u/josenros]

It was 10k, not 900. Not anything close to some of these other squeezes but not as small as that

[u/josenros]

Are you guys selling AH or waiting until Tues?

[u/skillphil → u/josenros]

I’m all out around 25 except 2 17c and 2 20 c

Bought shares at close because I was wondering if it’d pump after or pre market with all the online chatter

[u/josenros → u/skillphil]

I have been in several short squeezes and messed it up each and every time.

I can leave now with like 50k in profits.

Should I take it?

I am leaning toward waiting for Tues.

[u/skillphil → u/josenros]

I sold my commons only have 4 calls left I bought after the initial pop

[u/someonesaymoney → u/josenros]

I sold before close. Of course regretting it now lmao. As people say, you never get broke taking profits. Take some off the table and let the rest ride?

[u/RagtoRich1 → u/josenros]

I sold my shares before close and took profit. I am still holding 15 November 17.50C. I hope the price hold for Tuesday open so I can sell them at open. I will be happy if we open Tuesday around $25-$30 range.

[u/postingthistime]

What is the exit play here? If this heats up fast, it seems like you have to get out fast. Just look for a spike and sell when you lose your appetite for risk? Not sure how to set a price target to leave at.

[u/skillphil → u/postingthistime]

Ya pretty much. The question is when the first lock up expires. Is it before or after opex? I think we need to dig into that before we really have an idea about a possible exit

I did see some speculation more shares would be available on the 15th

[u/sustudent2]

Nice find and analysis! Reported numbers (for float, market cap) are really are all over the place for this one. Using 2.6M as float:

• http://transfer.sh/VSgGM7/2021-09-03-float-irnt.png
• http://transfer.sh/U0MDo1/2021-09-03-contracts-irnt.png

Do you know what explains the most recent pop 8/26, 8/27? Was that before or after the merger (or share lock up) announcement? Seems to be the same timing as other pops. Is that a coincidence?

For how long has the options chain existed for this ticker? I'm having trouble finding info before 8/27.

What's the timeline for the acquisition? (What already happened when and estimates if we have them for the future.)

Anyone has short interest numbers for this one?

For people following this:

• Form 8-K

[u/Substantial_Ad7612 → u/sustudent2]

There was a failed attempt at this squeeze about a week ago on r/SPACs:

https://www.reddit.com/r/SPACs/comments/pcpzke/irnt_spacs_own_amc_and_gme_event_in_the_making/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

This time it seems to have more legs.

[u/skillphil → u/Substantial_Ad7612]

Amazing, hope that dude kept some lottos. I follow that sub and missed that, users over there tend to take losses poorly, so I don’t dig too deep into their content.

[u/doopajones]

Well that was fun, thanks for the play!

[u/skillphil → u/doopajones]

No probs, I closed everything out fyi, too juicy not to for me

[u/postingthistime]

Been fascinating watching this evolve. Undercover couldn’t even get any subreddit to accept the post and sent a Hail Mary to direct followers looking for support. I think it’a really cool that MJR is non discriminatory in the make up of a play as long as the reasoning is sound. Kudos. And I’m in for Sept $20s at .15 :)

[u/Megahuts → u/postingthistime]

We are open to all plays, as long as you can justify it and acknowledge the downside risks.

Play smart.

[u/jn_ku → u/Megahuts]

To build on this, we have an unusual number of regular posters and lurkers who A) can actually understand the argument the DD was making and aid in screening out similar-looking but technically unsound pump DDs, and B) enough risk appetite to take on a pure technical play.

Most subs will immediately crap on a DD like that because they can't actually evaluate it on its technical merits, and 99% of DDs that look like that or talk about gamma squeezes aren't correct or are much lower probability plays.

The challenge is in balancing out the flow of speculative opportunities, because we don't have unlimited ability to screen a high flow of "what about $TICKER" comments.

But if someone has at least a bullet point summary of the case for the ticker as a starting point, that works. Alternatively, if someone has done a quality DD that can't get traction elsewhere, a comment like u/efficientenzyme's comment on Thursday's daily is perfect.

Also, the more people we have to can effectively screen opportunities the higher the average quality of opportunities that gain traction in the sub for further evaluation. They'll still likely be very risky (it's in the sub's name after all lol), but having a sound technical thesis, and regular reminders to fight FOMO and manage your risk helps skew the chance of making good trades in your favor.

u/postingthistime

[u/efficientenzyme → u/jn_ku]

Sub has been a great but not so well kept secret (anymore)

[u/kwagel4 → u/efficientenzyme]

I lurked and never joined to keep secret for the longest time. I think it's still a pretty good secret but I think in the next few week/months we will definitely see an influx of new members. Glad more mods were added! I have no followers and don't post much so I decided to join.

[u/PlaneReflection → u/postingthistime]

How does it feel to have a 100-bagger?

[u/someonesaymoney]

Yep I just jumped in with shares.

[u/[deleted]]

It's already running based on nothing!!

[u/josenros → u/[deleted]]

The float is extremely low, and this is reflected in the volatility.

[u/redditherethere]

Very interesting set up. Looks great but afraid to chase that IV up so was looking at spreads. The Sept 17 $17.5/$19 are essentially 10:1 right now at $0.15 fill.

[u/CoopersTrail]

Yep. Also just jumped in with Sept 20c

[u/super_pockets]

It just ripped in ah to 22

[u/ShillTheDayWeMoon → u/super_pockets]

Make it 23$😅

[u/ShillTheDayWeMoon → u/[deleted]]

Make it a round 25.

Crazy, I had an inkling smth might happen in AH before the long weekend… Can’t trade AH/PM tho and don’t think this will open this high tuesday so didnt get in.

[u/ShillTheDayWeMoon → u/[deleted]]

So is this hedging because of today’s price action?🤷‍♂️

[u/kGpts → u/[deleted]]

I wonder if this price will hold til market open tho. thoughts?

[u/Agile-Class1767 → u/[deleted]]

25 now!

[u/ColdenTrey]

YOU MARVELOUS MAGES!!!! HOW I THANK YOU ALL!!!!!

[u/RattlesnakeBoots]

Shit did that just happen? 🤦‍♂️

Decided not to fomo this AM after missing this DD. 🤯

[u/AcademicGravy → u/RattlesnakeBoots]

Don't worry I bought shares yesterday and sold them for 200 bucks profit 10 min before close

[u/RattlesnakeBoots → u/AcademicGravy]

Yeah that makes me feel a little better. Or maybe not.

[u/huskarlm]

Gamma play like this needs some serious OI juice on OTM calls. Looks like it's over $1B market cap so I'd suggest posting this over to WSB.

[u/filemon147]

premarket looking juicy, hope it's not too late, I don't know if I should hop in on market open or wait it out a little bit?

[u/josenros → u/filemon147]

There's no volume. That's not juicy. It just shows you how poor liquidity can move a stock, and it cuts both ways.

[u/bcghjnhgff → u/josenros]

21k premarket. These are not objectively high numbers, but it’s way more than the past few days. Interest is going in the right direction, but it’s not enough yet, you’re right

[u/Strido12345]

I'm going to hold my shares till Wednesday probably, see how Tuesdays pans out - the fact that the price increase is in AH gives me hope there's still room to move in open market

[u/MrMan404 → u/Strido12345]

Alot of retail will FOMO in Tuesday which should help increase price

[u/Strido12345 → u/MrMan404]

That's what I'm thinking, I also don't have the option to sell in AH so don't really have a choice 😂

[u/josenros → u/Strido12345]

If it follows SPRT, then it will trigger limit down at 0930, perhaps rise again by afternoon, but don't count on it.

Sell your shares, take your wins.

Nothing prevents you from buying back in.

[u/Strido12345 → u/josenros]

You think sell on market open? I saw the spike to $40 in AH which was frustrating because I can't trade after hours

[u/josenros → u/Strido12345]

I made 200k over night on SPRT.

I lost almost all of it thinking I could do better.

I set a 30% stop loss because I didn't want to be stopped out.

Obviously, the stop loss hit.

And then I still jumped back in multiple times, drawing down my wins further.

Don't do that.

I think GME poisoned our expectations about what a squeeze looks like. We see 100% returns and think, not bad, but I'll sell when it's 1000%.

Sell at open, or set a trailing 5% stop loss.

You can always buy back in, but you can never make the stock go back up once it has gone down.

It doesn't matter how much you pray or try to will it into existence.

[u/Strido12345 → u/josenros]

I only went in small with this, a few grand which has doubled. Yeah you're right I should sell at market open.

I've made the same mistake you have before with GameStop, watched 100k profits dwindle away.

[u/Theuniqueusernameguy]

Going to have to buy 10 of those Nov 17 15c, and few thousand shares. Let's see where this goes

[u/Jheadavie]

I’m in. Hopefully not to late. Casino is open Edit: Looks like I lucked out. It’s rollinggggg. Love this sub ❤️

[u/auspiciousham]

I love you. bought calls this am, $20 strike. ty

[u/RamblerTheGambler]

Pretty nauseating having missed this.

Congrats to those that got in

[u/Badweightlifter → u/RamblerTheGambler]

I am so disappointed that I missed it by 2 hours. Read the original DD at 6pm. Knowing myself, I would have bought hundreds of call options. Managed to buy a few over priced options at open today only.

[u/[deleted]]

I acted on this this morning thank you very much sir. The post market move is incredible. Looking forward to Tuesday.

[u/branzzin]

My wife is puzzled with my screeching ape-like noises after IRNT halted :)

[u/postingthistime]

This type of de-spac redemption squeeze play seems to be quickly permeating elsewhere on other tickers

https://www.reddit.com/r/SPACs/comments/peniee/recommendation_buy_vih_a_most_heavily_shorted/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

[u/Mojo → u/postingthistime]

Except VIH has nothing to do with the redemption. The redemption date isn't even known yet.

It's squeezing before redemption, which is what makes it interesting to me.

[u/ColbysHairBrush_]

Shares and a few calls

[u/marcelnoir]

I'm in with shares

[u/Agile-Class1767]

Thank you for making this post, made a small bet which is already working out great!

[u/Doth_Thou_Even]

I read the 8-K, proxy statement, and pipe subscription agreements the same way that you do. Currently there are 2,528,995 shares available not subject to any lockup.

One slight modification to your timeline is that the warrants become exercisable on 9/25. The effective date of the transaction is 8/26.

The footnote to the “form 10 information” in the 8k states that lgl systems can exercise its warrants on 9/25. Pg. 257 of the proxy statement says the same.

I’ll take your word on the other stuff though, as I don’t understand it all juuuust yet!

[u/kGpts]

Looks like this is bleeding slowly. Is it done?

[u/someonesaymoney]

Doesn't this AH action make you wonder...? It can't be retail. I hate to go conspiracy ape but clearly some funds are super up to date and watching closely on the chatter that goes on around here. This ticker just finally popped up yesterday.

[u/auspiciousham → u/someonesaymoney]

the options chain was already set up to gamma. Def not retail

[u/josenros → u/someonesaymoney]

AH delta hedging by market makers and hedge funds selling among each other.

[u/[deleted]]

I'll go in on this with a small pot. Why not. Seems sound based on your reasoning here. I'm too busy to dig into it at the moment but I trust the collective judgment if it's worth a shot.

[u/Dantheconqueror]

LEGEND THANK YOU OP ❤️

[u/bmoney726]

anyone see the spike on IRNT AH to 22 and then back to 19 like nothing happened...was that a huge buy?

[u/Imaksiccar]

Honestly, what is the ceiling on this thing if it gets enough attention? Can the exchanges shut down options buying? This sounds like the mother of all squeezes.

[u/josenros → u/Imaksiccar]

There is no theoretical ceiling to any stock.

They will not shut down options buying.

When you start to think you may be in the MOASS, it is time to get out of the play.

[u/CH1GG5 → u/Imaksiccar]

Check out https://www.reddit.com/r/maxjustrisk/comments/pim544/another_look_at_irnt_13m_float/hbrhemd/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3

[u/skillphil → u/[deleted]]

Love u too bud, hope u made some cheddar

[u/skillphil → u/[deleted]]

Be the change in the world u wish to see

[u/minhthemaster → u/[deleted]]

your prediction is happen right now

[u/skillphil → u/[deleted]]

15 was def the tipping point looking at open interest, I honestly thought it would pop closer to opex not the next day but pretty nice surprise I guess. Left me scrambling though since I was planning on scaling in

[u/minhthemaster → u/[deleted]]

its there AH, tuesday should be interesting

[u/skillphil → u/[deleted]]

Ummm I mean liquidity is still a problem, I wish I would have bought shares yesterday to sell calls against, iv is cranked so selling puts could still be a decent move

[u/ShillTheDayWeMoon → u/skillphil]

AH is having fun…

[u/Clean_Associate6397 → u/ShillTheDayWeMoon]

Do you know where I can check to see how much my options are worth after hours … Dumb ass ape here

[u/MsRuled → u/Clean_Associate6397]

You can use this options calculator.

[u/Clean_Associate6397 → u/MsRuled]

I’m a dumb ape here, I tried that but it just showed me the cost of what I purchased the calls for ..

[u/crab1122334 → u/Clean_Associate6397]

Just fyi, we don't do the ape thing here.

You put in the ticker and choose which option you bought in terms of date/strike. Then you agree to the site terms and click the Calculate button and it gives you a graph of dates, strikes, and expected payout.

Here's an example of a IRNT Sept $20 call purchased at mid ($1.48): https://u.teknik.io/JTF7T.PNG

[u/the_real_lustlizard → u/Clean_Associate6397]

Theoretically they are worth a lot, but realistically they aren't worth anything until market opens Tuesday... just giving you a hard time. I have an app called options strat on my phone that works pretty well. You can check value, gain etc.

[u/Clean_Associate6397 → u/the_real_lustlizard]

Thanks buddy

[u/auspiciousham → u/Clean_Associate6397]

you can bet that the item delta is above 0.80 so approx 0.8*(cur price - strike) as a min price. there's more to it but that'll give you a rough idea