I totally agree. You should print your post and frame it for future reference.
BTW: One can be long and still deal in calls. For example you could have bought the stock (for a long term hold) today for (using the closing price) $38.92. You could have then sold a covered July 45 call for $.15. There is probably no chance in Hell that the stock will be $45.00 by the July expiration date, so you would just pocket an extra $.15 cents a share. OR an Aug 50 would bring in $.75. Again I doubt that it will be back to $50. by then.
Thanks for clarifying. I was in fact talking about writing puts. It's a great strategy to employ if you were planning on buying the stock anyway. Not that I am recommending buying anything at this point. I am in agreement with unseen that we need capitulation before buying in the short term.
I agree don't think we will see $30.00 $35.00 is probably the bottom and it will most likely not stay there for any length of time.
but then again you never know. Last year I never thought we would see $40.00 again.
I think he's talking about selling the Puts. In that scenario if the stock goes up you just pocket the cash from the sale, but if the stock goes below the strike (I think he said 35) you must buy 100 shares/option contract at the strike price when the other side of the trade (the person who bought the puts) exercises their right to sell. Just FYI for those who don't know how it works to sell puts. It's a pretty savvy way to start a position IMO, because you make money if the stock goes up, but get the stock cheap if it goes down.
If oil keeps moving up and financials and housing keep sucking, then GME will likely see 35, but honestly I don't see it breaking 30 without a major market crash. Being patient and sitting on the sidelines is probably one of the most frustrating aspects of the market... I have some investments, but have been waiting for a long time to go long GME again..
I've got a strong feeling that your pessimistic and gloom and doom posts may end, when you get the 35 price target you've mentioned a few times.
I hope others on this board have gotten wise to you. I wouldn't mind myself if GME got to 36. I would like too double down if it does. But unlike you, I'm not trying too hurt others in this Stock, who can't afford too do the same.