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Rap Sheet

Author:

Jester Debunker

Subject:

Off Topic

Date:

01/08/16 at 3:02 PM CST

 

 

READ: 3

RPLY: 0

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Sentiment:

Neutral

GME

My suggestion late last week to short GME puts at EOY paid off. I sold $28.5 puts expiring today for $0.90, covered at the close for $0.20. As I thought, all the selling was tax loss EOY, and this week it was up 1% despite the Nasdaq tumbling 7.3%. If not for that, I'm sure they would have expired worthless. I think the same story will play out next week, with one caveat that adds risk, which is their holiday sales update should be coming. My guess, Wednesday. I think it could be better than expected, with what is likely very strong console sales, strong BLOPS3, and Battlefront picking up in the last two weeks of December.

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