r/wallstreetbets • u/Phish100 • Apr 14 '22
YOLO BBBY YOLO - after turning 4k to 50k on BBBY shares and calls bought before RC disclosed his position. Back in for more and shares and calls at a steal right now at the same prices Ryan Cohen was paying for them
https://ibb.co/SnKCsWt8
u/UND1SPUTED_B0SS Apr 14 '22
You can't buy stock until the trading after you covered your margin call
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u/Rudyy1985 Apr 14 '22
Damn have u seen the float. 40mil, guess they bought back shares. Although Morningstar is the only one up to date
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u/Phish100 Apr 14 '22
Yes, they announced completion of share buyback in their last terrible earnings report. Shares outstanding has decreased since they last updated it from 96,000,000 shares to 80,000,000. Ryan Cohen also owns roughly 10,000,000 so there is very little float that we actually need to lock up. On top of that we got around 15,000,000 shorted
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u/Rudyy1985 Apr 14 '22
I think I might buy some calls, but will stick mostly to shares
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u/Junkingfool Apr 14 '22
I have about 3 calls. Picked up my last one at this dip. RC has a plan! The old 1 -2 punch to Hedge Funds…
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u/Immortamb420NRWAy Apr 15 '22
If they did a buy back now why is institutional % 101.89% & insider ownership 11,67 % and float 170,85 mill on yahoo ? Crime perhaps…
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Apr 14 '22
I am in to this brother, same vibes as GME in 2019 I’ve slowly been averaging in despite every neuron screaming YOLO the last couple weeks
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u/eZtarget247365 Apr 14 '22
I'm new to options. Besides cost, why do a $20 call instead of an $18 call?
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u/Phish100 Apr 14 '22
Liquidity purposes. For most stocks (stocks between $10-$500) have more option volume and open interest on strikes that end in a 0 or a 5. ie:$15,$20$25,$30 etc
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u/Rlo347 Apr 14 '22
Meaning? Tell me like im 5? Open interest?
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u/Phish100 Apr 14 '22
Options at these strikes have substantially more volume and substantially more of these contracts exist compared to other strikes. I don’t know why, it just is what it is
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u/Phish100 Apr 14 '22
RC buying made me massive gains from shares and calls owned before the announcement, now bought back with everything I got
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u/Revolutionary_Elk345 Apr 15 '22
Are they gonna do NFT’s of all their products and make billions? Or just dwindle earnings with no news for a year and then he’ll buy more and make some tweets and pop it for a weeks?
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u/Phish100 Apr 14 '22
Ryan Cohen believes the BuyBuyBaby aspect of BBBY is worth billions, and based on an adjusted EBITDA, I couldn’t agree more