All,
Purchase a 6/3 expiration call option for a $305 strike price. Right now the price per contract is between $.02 & $.03.
Your profit percentage potential is over 47k%.
If GME doesn’t go to the moon tomorrow before end of day we will place another trade for 6/10 expiration call.
Then explain again like I'm 3. This will cost me .03c each?
I'm a long-term hodler but haven't played options ever. I get what you're saying, I think. Basically- if, tomorrow, the stock price jumps and is above $305, the option is in the money, correct? Then, to exercise it, you have to buy 100 shares at $305 (which is a good deal if the price is above $305). But that's $30,500.00. Is there a way to sell the call contract to someone else, if you don't have 30k sitting around? That's where I'm confused, because I am functionally retarded.
I can’t count past 10, because that’s all the fingers I have, but where does the profit potential of 47k% come in and to be more specific what is the payout If you are in the money and can cover the $30,500.00?
Will make a blanket reply to all questions in a little while.