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A comment on u/DeepFuckingValue and the GameStop Reddit mania. Parent comment

Re:u/DeepFuckingValue and the GameStop Reddit mania by jondwillis on Friday January 29, 2021 @06:28PM (#25964233)
However, if Melvin had picked up deep OTM calls before the (literal in both senses) volume started ramping up about two weeks ago, they might have done a little better.

To be clear, I don’t actually think they did.

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Re:u/DeepFuckingValue and the GameStop Reddit mania by jaycroft on Friday January 29, 2021 @07:12PM (#25964600)
And even if they did, who's on the other side of those options now that they're in the money?
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Re:u/DeepFuckingValue and the GameStop Reddit mania by nursur2011 on Friday January 29, 2021 @07:28PM (#25964686)
Could be anyone. What matters is whether they're covered calls or not. I don't know if that info is available. If it's a covered call the seller of the option has the shares, so they essentially sell them to whoever bought the option and decided to exercise the option. If they're not covered, then they have to go out and buy them.
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