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.
Can you please explain this like I’m 5? I just recently dipped my feet into the stock market and got 5 shares, but I don’t know what options or strike price are.
Then explain again like I'm 3. This will cost me .03c each?
These are stock options, not actual shares. Each options contract represents 100 shares of the stock. So if you buy one 6/3 expiration call option for a $305 strike price for $.03, then you will pay $3.00 ($0.03 x 100 shares) for the right (but not the obligation) to purchase 100 shares of GME at $305 on or before June 3rd. If you choose not to exercise your right by close of market June 3rd, your option expires.
Note: You need to fill out more paperwork to get your account approved for options trading. If you just started trading in stocks, they're gonna make you wait a few years before they let you trade options. It's easy to get wrecked with options.
Will make a blanket reply to all questions in a little while.