Thanks for the input Ni. I was thinking the same thing. It didn’t dump spectacularly, and actually held up fairly well considering the overall market the past two days.
Hopefully IV cools off a bit and makes puts worth it before it falls too far.
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SPY down 1.5% in PM, RDBX up over 2%. Will be keeping an eye on puts for the IV to drop.
RDBX went from a high of almost $6.50 to a low of almost $5.00 and ended the day around $5.60, but the 5/20 5p barely moved from open and IV is over 300.
Had you bought at open and dumped at the low, you might have gotten a little bit of green, but not what I’d be looking for. This is a prime example of why high-IV puts can be hard to time properly and reliably exit green.
Will check it again tomorrow.
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Why this ticker isn’t below $4 already is beyond any sense. Retard power on display here, most likely.
This means… it may pop once my calls expire.
Or plunge down real fast when I’m just about to buy a put.
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Dude I’ve been watching this daily. It loves $5.50 and the IV is still in the high 200s. I’m baffled.
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I can’t believe I have $320 on this.
But hey, if it pumps for no reason and helps give the US government their tax cut, I’m a happy citizen.
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I’m personally disgusted with myself that I bought a call without reading all of this. Now I realize it’s fucking Redbox and I feel like a moron.
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Whats interesting is the volume has almost all but died off. It did 100M two Fridays ago, while today it did 5M.
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You don’t know how much this gives joy to my heart, man. We’re all in this together.
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Might as well have tried to buy Blockbuster OTC. Oh well. Fun times!
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This is why LEAP calls are the play. They would have worked for all the meme-squeezers last year and even some this year. I’ve actually avoided RDBX now that it has options for precisely some of the comments above, but more so because options are always retard-strength IV to start, esp. if the underlying has squeezed before. on RDBX I have 2 thoughts really, 1: some sort of LEAPS call if we stabilize between $4 - $5 and you want to be a bull. 2: sell calls or call credit spreads at 7/10 strike for any expiry if you’re bearish rather than buying puts, since IV is high.
This is interesting - someone opened about 250 calls when RDBX was trading around approximately 6.28 on May 5. The calls are 10 strike, Nov 18 expiry. They are still open, as far as I can tell. Here’s the specifics of that chain, currently.
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Took 2 calls here, right at market close. I swear…
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People on Stocktwits won’t shut up about it lol, any time of the day someone is there talking
RDBX folks are super excited again because short-related numbers are through the roof:
Furus are pumping this too.
Rallied 27% today:
Forgot about this last time, will try to enter tomorrow. July put IV is even worse than last time, at ~350%, so still feeling hesitant though.
What do folks think?
I got in this morning at open with calls fortunately. This weeks OI isnt anyhing to write home about but next week’s… good lord, crazy gamma ramp setting up starting at $10. I’ll post a crappy screenshot.
I usually dont ever get into short squeeze subreddit plays because I think some companies get heavily shorted for good reason, but I got in because of next week’s option chain. SI went up today too according to Ortex. I think there will be good chances for entry over the next few days based on this week’s option chain, idk if T+35 matters at all but it also has tons of FTDs to deliver apparently this week pitentially keeping price up but I don’t take much stock into that myself.
Next weeks OI
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Very interesting, @choose_uh_username.
That’s about 27K OI ITM or just ATM, which is > 2M shares’ worth.
RDBX is said to have a FF of < 2M. Even though various sources say it could up more than 10M too.
From Mimir:
All this is to say that a squeeze might well be underway. It’s run up a lot though so won’t chase, but makes one feel that price should come crashing down after 6/17. Which is what MMs are pricing in through the fat-fat put IV.
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RDBX seems to have a lot of 50m+ volume days though, so hedging a few M shares and shorts closing their positions doesnt seem like it would have that much of a squeeze effect. Could get interesting if the float is actually >2m though.
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Indeed, this is what has been off about this ticker from the get go - it squeezes like a micro-float stock, but trades in volume like a mid-float one. 
Are you thinking of making a play on this, @derfam ?
Maybe but it feels like FOMO. I’d like an entry at 7 ideally.