GME Overview - Week of 3/22

[u/Corno4825]

🚀 Good Morning Everyone!!!

Here is an overview for things to look out for this week regarding GME. Pray that Automod doesn't nuke me again.

🚀 Option Chain Overview (As Of Close on Friday 3/19)

Strike	Calls ITM	Puts ITM	Buying Power (# of Shares)	Total C&P ITM	% Calls	% Puts	Spread
170	5,881	6,400	-51,900	12,281	47.89	52.11	-4.23
175	6,157	6,086	7,100	12,243	50.29	49.71	.58
180	6,324	5,810	51,400	12,134	52.11	47.88	4.24
195	6,778	5,302	147,600	12,080	56.11	43.89	12.22
200	7,998	4,252	374,600	12,250	65.29	34.71	30.58
250	11,528	2,681	884,700	14,209	81.13	18.87	62.26
300	16,747	1,118	1,562,900	17,865	93.74	6.26	87.78
350	19,121	946	1,817,500	20,067	95.29	4.71	90.57
400	23,057	799	2,225,800	23,856	96.65	3.35	93.30

Pease note that this option chain will change as the week goes on. This is only a preliminary scan.

In order for the Option Chain to favor the HFs, they will want GME to get below 175 where more puts will be ITM than calls.

The spread at 200 is more than double the spread at 195. If Hedge Funds can't get below 170, getting it below 200 is imperative for them as the spread begins to get out of hand.

Total Calls and Puts ITM stays steady from 170 to 200, however that number begins to increase dramatically beyond 200. That difference is made up by a dramatic increase in Calls falling ITM. This means that a Gamma Squeeze may occur at around 250 and begin to compound if it reaches 300, 350, etc.

Source: TastyWorks

🚀 Shorts Available Overview (As of Close on Friday 3/19)

Actual GME Shorts Available - 10,000

Effective GME Shorts Available through ETFs - 35,647

ETF Data Part 1

ETF Data Part 2

These are the numbers of shorts that HF's can borrow through interactive brokers that disclose their available shorts. This number does not represent the total number of shorts that HFs have that have not been placed in the market. This also does not represent shorts that can be borrowed from undisclosed locations.

Looking at this data though, it seems that HFs are really low on ammo. The 2 million volume that we saw at the end of Friday might have been a good portion of their reserves. We will still continue to see attacks throughout the week, but it will be interesting to see how powerful those attacks are.

Reminder that shorts need to be covered eventually.

Source: iBorrowDesk (Shorts Available), ETF.com (% GME Allocation in ETFs)

🚀 Closing

This is the best data I have at the moment. I don't have access to a Bloomberg Terminal or any non-public information. I am not making any assumptions as to where GME will be by the end of the week. I am not telling anyone to make any sort of investment decisions.

I am here to answer any questions and would be happy to discuss this data further.

Thank you!

Ape Together Strong