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WWG1WGA!
2 Corinthians 5:7 - For we walk by faith, not by sight.
Robinhood is now preventing people from buying certain stocks like GME, BB, etc. Scum!
I know it forced the values to drop significantly. Fuck them though. Still holding
2 items of note if you continue to use robinhood:
They may sell your stock for you because they know what's best: https://patriots.win/p/11SKBvSqXR/robinhood-is-now-selling-peoples/c/
And there's a class action lawsuit against them now in case you need it. https://patriots.win/p/11SKBvTwX8/class-action-lawsuit-filed-again/c/
Sounds like etrade and webull arent currently shut down but I haven't jumped into stocks yet so can't confirm either of them work.
Thats... not what that means. Its specifically talking about options. Not stocks. I you have an option, you do not actually own any stock.
An option for a stock gives the buyer the right, but not the obligation, to buy a stock at a pre-agreed price by a certain date.
So I can buy an option to buy 10 Google shares for $100 each by Feb 10. If the price of Google stock went up to, say, $120 before Feb 10, I can buy 10 shares for $1000 total and immediately sell them for $1,200 and pocket the extra $200, minus whatever it cost to buy the option. If the price goes, and stays, below $100 until Feb 10, I do nothing and I'm out the money I used to buy the option.
Obviously, there's a person on the other side of this transaction, who has is obligated to provide the stock should I choose to buy it. They are hoping the value of the stock goes down so they don't have to fulfill it.
Anyway, what the bolded part of this message means is that anyone with an option to buy GME which expires on the 29th cannot do anything before then but sell the option. They cannot buy more options, and they cannot extend the option. If they don't sell or act on the option by the end of the day on the 29th, the option will expire.
The remainder of the message is nothing special.
When you "short" a stock, you are basically doing the other side of the transaction listed above. You "borrow" a stock and sell it to someone now for the current price, hoping that, before you have to "return" the stock to its actual owner, the price will be lower, so you can buy it cheaper than you sold it to fulfill the obligation.
So the last part of this message is saying that, because the stock is experiencing wide value swings, if the difference in the current value of the stock goes too far above what it was when you borrowed shares to sell, they may force you to buy stock to settle the obligation. This is entierly normal. Otherwise, the brokerage (the platform you used to do the transaction) could be left holding the bag if you aren't able to afford to buy the stock to settle the obligation. It's called a margin call.
Please explain this: https://patriots.win/p/11SKC01WY0/there-is-no-evidence-that-screen/c/