GameStop Up(down)date

Hokay, so I posted about shorting GME on October 9th, so hopefully you all opened a short with the price between $12.50 $13.50. It’s sitting at $10.44 today and my first set of puts are expiring. I hope this printed for you and saved you all a bit of money during this selloff. Overall my portfolio is down, because I’m not a psychopath who continually shorts the market, but this was a little bright spot. I’ll wait for a dead cat bounce on Monday and probably open up another short. Generally during large market selloffs I also open up another put on VXX – VXX is generally inversely correlated to the market as volatility increases during a selloff. Things go down faster than they go up; that’s just life in general folks, but it’s human nature to keep pushing the proverbial rock up that hill.

I generally sell puts when there’s a bit of a gain since markets are much more unpredictable on the way down. Also, -11% in one day is a lot, let’s not get too greedy. I’ll keep opening shorts here though.

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