[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  THE SHORT BEAR [@TheShortBear](/creator/twitter/TheShortBear) on x 161.5K followers Created: 2024-06-03 20:53:46 UTC Let me get this straight. Kitty was long 120k contracts of the June 21st calls. He could have sold at about XX or call it even VWAP or $XXXX. That would have netted him +$84,295,200. Instead he now has to gamble for $GME to be over $XXXXX by June 21st to even make money. Now on top of it keep in mind that it also means that the entire 12mil shares equivalent (120k contracts) still needs to be sold given Kitty probably does not have the cash to even exercise the calls. If he gets the cash, it will likley be by selling his 5mil shares to offset it... meaning selling either way. (apart from if he made another $100-200mil somewhere) The market maker that took the side will be able to delta hedge soon enough and that will create a secondary wave of selling as well. Finally he had volume today so any sold calls would have been somewhat easily sold into the bid by market makers on the unhedge. Over the coming days, if volume decreases, the liquidity on the option side will diminish as well. Any selling by kitty will lead to selling on the stock by MM and that cycle will lead to a true sell event. I do not think people realize that Kitty being long means there is major selling pressure ahead... He longed the equivalent of $XXXXXXXXXX which will become near worthless as we approach XX. That update will end up costing him a lot I believe. Huge mistake to try and pump the stock but contrary to 2020 he isnt up via multi-1000x percent. This is in essence an outright long position with the possibility of -65mil loss if we close near XX by June 21st. If he did not post I would have assumed todays weakness would have been triggered by his selling via options and more likely sold common shares (given the specific calls only traded 9.8k volume). The fact he did not means there is more sellers than we knew and there will be more selling going forward than we knew. Major blunder! The likely game plan for him will be to do anything possible to hold $GME over XX over the next X weeks, however posting his pictures and updates means market makers know, retail knows, hedgefonds know... I do not expect him to survive this one as easily. By holding $GME near XX into the expiry, we in essence will see the equivalent of a 12mil shares ATM being sold. (at a X delta) The fact that he keeps on posting afterhours as well just to manipulate the market during illiquid times is just disgusting. XXXXXXXXX engagements  **Related Topics** [gme](/topic/gme) [stocks](/topic/stocks) [money](/topic/money) [gamble](/topic/gamble) [$gme](/topic/$gme) [stocks consumer cyclical](/topic/stocks-consumer-cyclical) [stocks bitcoin treasuries](/topic/stocks-bitcoin-treasuries) [Post Link](https://x.com/TheShortBear/status/1797733439094825127)
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THE SHORT BEAR @TheShortBear on x 161.5K followers
Created: 2024-06-03 20:53:46 UTC
Let me get this straight.
Kitty was long 120k contracts of the June 21st calls.
He could have sold at about XX or call it even VWAP or $XXXX.
That would have netted him +$84,295,200.
Instead he now has to gamble for $GME to be over $XXXXX by June 21st to even make money.
Now on top of it keep in mind that it also means that the entire 12mil shares equivalent (120k contracts) still needs to be sold given Kitty probably does not have the cash to even exercise the calls.
If he gets the cash, it will likley be by selling his 5mil shares to offset it... meaning selling either way. (apart from if he made another $100-200mil somewhere)
The market maker that took the side will be able to delta hedge soon enough and that will create a secondary wave of selling as well.
Finally he had volume today so any sold calls would have been somewhat easily sold into the bid by market makers on the unhedge.
Over the coming days, if volume decreases, the liquidity on the option side will diminish as well. Any selling by kitty will lead to selling on the stock by MM and that cycle will lead to a true sell event.
I do not think people realize that Kitty being long means there is major selling pressure ahead... He longed the equivalent of $XXXXXXXXXX which will become near worthless as we approach XX.
That update will end up costing him a lot I believe. Huge mistake to try and pump the stock but contrary to 2020 he isnt up via multi-1000x percent. This is in essence an outright long position with the possibility of -65mil loss if we close near XX by June 21st.
If he did not post I would have assumed todays weakness would have been triggered by his selling via options and more likely sold common shares (given the specific calls only traded 9.8k volume). The fact he did not means there is more sellers than we knew and there will be more selling going forward than we knew.
Major blunder!
The likely game plan for him will be to do anything possible to hold $GME over XX over the next X weeks, however posting his pictures and updates means market makers know, retail knows, hedgefonds know... I do not expect him to survive this one as easily.
By holding $GME near XX into the expiry, we in essence will see the equivalent of a 12mil shares ATM being sold. (at a X delta)
The fact that he keeps on posting afterhours as well just to manipulate the market during illiquid times is just disgusting.
XXXXXXXXX engagements
Related Topics gme stocks money gamble $gme stocks consumer cyclical stocks bitcoin treasuries