Disclaimer: I am not a financial advisor. This entire post represents my personal views and opinions, and should not be taken as financial advice (or advice of any kind whatsoever). I encourage you to do your own research, take anything I write with a grain of salt, and hold me accountable for any mistakes you may catch. Also, full disclosure, I hold a net long position in GME, but my cost basis is very low, and I'm using money I can absolutely lose. My capital at risk and tolerance for risk generally is likely substantially different than yours.
Before I get into Monday's action, a couple of things:
I wanted to first give a shout out to piddlesthethug for capturing this screenshot, which shows that moment in time I referenced in my third Gamestop post, where some poor soul got sniped while sweeping the 29 January 115 calls. I added it into the post with an edit, but my guess is most who read the post a while back would have missed it. I guess my mental math in the moment was off as you can see from the image that the cost was actually just shy of $500k rather than $440k as I wrote in the post. Brutal.
People have also asked me where I stand on this trade. I was lucky to get in early, trade some momentum, and retain a sizeable core holding (relative to my play account). As I've mentioned some comments, my core holding, which I will hold until this saga plays itself out, would buy me a new car, all cash. Though after today I'd have to downgrade from a lower end Lexus to a Corolla lol.
Alright, so, today's action.
I have to admit that I was just glancing at the chart between writing emails, working on excel spreadsheets, conference calls, and meetings. Whenever I could, I was listening to CNBC in the background, and taking a closer look whenever I heard anything that might move sentiment, or theoretically telegraph an attack as had happened so many times last week.
In my opinion the price action played out almost by-the-numbers according to a squeeze campaign strategy as I laid out in my previous post. I want to be clear, however, that while it was consistent with what I laid out (liquidity drying up, trying to skirmish at lower and lower price points), you could reasonably interpret it other ways. As I mentioned in at least one comment, seeing things play out in a manner consistent with your expectations is by no means positive confirmation that your thesis is correct. It just happens to be consistent with the evidence you have so far. Always keep that in mind.
I tried responding to a few comments and questions in realtime as I got notifications on my phone. Just as a heads up, I won't always be able to do so, and it seems like there were a number of knowledgeable people commenting in realtime anyway. As I've said in comments on my previous posts, I am definitely not the smartest person in the room, so don't just take my word for it just because I'm the original poster. Please challenge anything I say if you feel I'm mistaken, and don't dismiss out of hand people who may have a different viewpoint.
One thing I thought I noticed in early morning market hours action was that there was no sell order depth above the ticker price, which I interpret as a good sign. Downward pushes into fairly good volume got sucked back up largely in a low-volume vacuum. The most extreme example of this was the first push right at market open. Tons of volume to push the price down, then a tiny fraction of volume as price got sucked back up. This means very little continued panicking and bailing due to the aggressive push, resulting in gaps to the upside on the follow-on buying. There were messages and comments from people concerned that low price would let the short side cover, but, as I explained, low price doesn't help the short side unless they can buy at that low price in meaningful volume. That sort of action where price gaps up as soon as buying (whether by shorts or longs) is driving price tells you that there isn't much meaningful volume to be had at the lower prices. From a higher level view, volume through the day dropped as price dropped, and that seems to have remained consistently true throughout the day.
There was some very strange after-market volume. No idea what that may have been, other than maybe hedge unwinding as T+2 contract settlement outcomes were determined. It seemed, at least to me, to be too much volume in too dense a time window to be retailers bailing out of their accounts en mass. It would make no sense to do so into the vacuum of after hours anyway rather than the firmer price support of market hours.
I got messages that I was both a short side hedge fund shill and a long side pump and dump fraudster trying to somehow take peoples' money. My sentiment analysis KPIs thus indicate I'm likely striking a healthy balance (lol).

The Game (Theory)

Ok, but seriously, is this situation a pump and dump?
Possibly.
I say possibly because, as I stated in a comment, a failed squeeze campaign is effectively identical to a pump and dump in that the only thing that happens is capital is transferred mostly from people who got in later to people who got in earlier. Even worse, in aggregate a good amount of capital may end up being transferred from the campaigners to the short side. Not that it was necessarily intended to be that way from the start--it's just what ends up happening if the campaign fails.
Ok, so failure aside, what are the dynamics of the trade? What kind of game is this?
In simplified terms, I'd describe a squeeze campaign where the short side doubles down as a modified dollar auction where the winning side also takes the losing side's bid money. In other words, at an aggregate level, it's winner take all, go hard or go home, with all the excitement of market action in the middle. Note that I said in aggregate and with market action in the middle, as that basically means even the winning side will have individuals who lose possibly everything if they get washed out before the end. As I mentioned in some comments where I urged people to consider taking profits if they needed the money, this is going to be a white-knuckle trade to the very end.

Power

For most of our lives, most of the time, the saying that 'information is power' and the closely related 'knowledge is power' are abstract, philosophical truisms that people say to try to sound cool and edgy. More tangible and relevant to our daily lives might be 'money is power', or, for the least fortunate, the threat and reality of physical force.
Today, for many in the GME trade, that previously abstract philosophical truism gained intense and urgent relevance. What is current SI? Can you trust numbers from S3? What about Ortex? Are there counterfeit shares in play? What is the significance of Failures to Deliver? Can the short side cover their position off the exchange? etc. etc.
Being in this situation, if nothing else, has lifted the veil for many people. The right information, in the right circumstances, is incredibly powerful. It outlines in stark contrast the power dynamics of information asymmetry.
If you want to exercise more agency in your future as a trader and investor, you have to make a habit of cultivating your critical thinking skills and ensuring you have diverse and often divergent sources of information. Do not let yourself be trapped in an information bubble where you can be easily manipulated. Most of all, try to avoid developing a siege mentality at all costs. If nothing else, in my opinion, it's critical for your long-term financial success.
I don't know the answer to those questions definitively, and my purpose in creating this account and posting is absolutely not to get people to listen and necessarily believe everything I write. In fact, it would make me happier if I see people use some of the tools, techniques, and concepts I've tried to introduce to challenge some of my thinking. Catching my mistakes helps me. Doing it in the open for all to read helps everyone.

Faith, Conviction, Calculated Risk

Many people trade and invest according to wildly divergent strategies.
Some people, including those that most Wall Street types consider to be 'responsible' investors, invest on blind faith. You put your capital is someone else's hands (hopefully a qualified fiduciary), and trust that they will do a good job. The only judgment you exercise really is in choosing the person(s) in which to place your faith. This is not entirely unlike what many WSBettors are doing with respect to DFV. I do this with my retirement accounts, though lately I've been considering transferring about half my retirement capital to a self-directed IRA.
Others trade on conviction. They have, for whatever reason, a very strong belief in an investment thesis that they are willing to put to the test by putting capital at risk, and are willing to lean into the thesis through unfavorable price action so long as no disconfirming evidence comes to light. I consider value investors to fall into this category.
Others are momentum traders and 'technical analysts', who are trying to read the market data to look for asymmetrical calculated risk opportunity. These opportunities need not necessarily be tied to any particular underlying fundamental investment thesis. All that matters is whether you win on a sufficiently frequent basis and carefully manage your downside risk.
I think it's healthy to try to gain an understanding of all three approaches. I personally also find it necessary to be careful if you find yourself switching between those approaches mid-trade. I.e., if you started in the GME trade on faith, it may be deeply disturbing if you find yourself in the no-man's land between faith and conviction, where you have learned enough to understand more of the risks in the trade, but not enough to understand the underlying investment thesis of how it could play out. I'm not saying you shouldn't try to make that transition--just try to maintain self awareness if you choose to do so to avoid making any rash decisions.

Swimming In The Deep

So, the consistent #1 question I always get: what happens next? My consistent answer, which I know frustrates everyone, is I don't know, and no one else does either.
One person in the comments made an astute observation that perhaps the truth, which some may find disturbing, is that our fate really lies in the hands of the whales on the long side rather than retail being in the driver's seat. This may very well be true. I would give it better than even odds at this point. In fact, even if retail collectively represents more shares in this trade, retail is not a well-organized, monolithic entity, and therefore would have more difficulty playing a decisive role at critical times.
Another question I got, which was a very good one to be asking, is what evidence do we have that there really are whales on the long side? For me, there have been critical actions over the past few days that I would have found to be highly unlikely to be achievable by retail investors, such as the sustained HFT duel into the close on Friday. That was very consistent, relatively well controlled, and sustained push on volume of 6-7mio shares traded in the $250 - $330/share price range. Oversimplified math would peg that at just shy of $2bn in capital flow. That is not retail--particularly with so many retail brokerages restricting trading at that time. The 17mio shares sold into the aftermarket action consistent with a squeeze (and Ortex reported reduction in short interest) is also definitely not retail. Others have pointed out massive action in the options today. Tons of block purchases in the millions of dollars and high 6 figures. Not retail.
All of that being said, does that really change very much? Even if you consider yourself to be part of a movement, and have genuine feelings of solidarity with your retail fellows (I do, which is why I'm writing these posts and holding that core position), in the end you are trading as an individual. This is a point that I have made repeatedly. In the end, you need to know yourself, know your trade, and have a plan. Your plan may conceivably be to follow someone else (I know many are following DFV to whatever the end may be), but in the end even that is still your plan as an individual.
If my thesis is correct we will continue to see lower trade volumes, and price grinding down to a floor of harder support, possibly even at the retail line of support (~$148/$150) I outlined in a prior post. There may also be some price dislocation tomorrow depending on options contract T+2 settlement impact. I don't know enough about what to expect there. If the squeeze is to happen, unless RH lifting restrictions or people transferring their accounts causes a surge of retail momentum, it will happen after that type of price movement continues for a while (maybe days, maybe longer), until sufficient liquid float has been locked up.
Right now options action is heavily weighted to puts, so any market maker hedging activity will put more pressure on price.
If the squeeze fails to happen there won't be a siren, ringing of a bell, or anything like that. It might happen gradually and non-obviously until suddenly, as only the market seems to be able to do, it becomes obvious that whoever's still there has been left holding the bag. Hopefully this isn't the case, but if it is I'll be right there with what at that point may only buy me a razor scooter rather than a car lol.
If it succeeds, it should be fairly obvious. Just don't forget to ring the register!
Either way, this is market history in the making. As I said in a previous comment, when you ride the rocket, it's definitely not going to be smooth--but it might just be awesome.
Apologies for the lengthy post again. Good luck in the market!

OG poster u/PlayFree_Bird
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Alright, I hate to say it, but there is some less-than-ideal information circulating out there, particularly about the famed "gamma squeeze" we hear so much about these days. I'll get to that. Let's go through the questions you simpletons want to know, as explained by a mouth-breathing fool who has managed to convince you he knows what he's talking about:

Did we win today? Is it endgame?

Kind of. Be patient.

In what ways did we win?

First, there was the obvious victory of bouncing back 65% today after the worst market manipulation I've ever witnessed. We kept the upward momentum going.
Secondly, every day you finish higher is another day the shorts are underwater. If you are perpetually going up, the walls are closing in on them.
Finally, a lot of put options expired worthless today while a number of call options expired in-the-money. It's always good to make put holders lose money because you drain the bank accounts of people betting against you.

Yes! Call options! We finished above $320 and get a gamma squeeze to infinity now, right?

No. That's not how this works. Too many people don't quite understand what a gamma squeeze is.
A gamma squeeze happens when call option sellers (or "writers") have to hedge their naked calls by buying stocks. They do this because the risk of selling naked calls is theoretically infinite if they don't. It's called delta hedging. You don't need to know all the fancy math ("delta" and "gamma" are those greek symbols for nerds), just understand this: as it becomes more probable that the call option you sold will cost you money, you hedge more.
This is a continuous PROCESS, not a discreet moment in time. The market makers and hedge funds and institutions selling you calls don't wake up on Friday morning and think, "Shit! I think I'm going to lose everything if these stocks keep going up! I have to BUY NOW!!!" That would be stupid. They are hedging all the way up. I guarantee you that most of the calls that were exercised at $320 today were already covered. They already went out and bought those shares and most of the upwards pressure that places on the market is priced in already.

So, no gamma squeeze?

Probably not significantly. They're not going to be madly rushing out on Monday to buy shit they already own for the most part.

Why are people talking about a gamma squeeze at $320, then?

We did have a gamma squeeze at $320. On Wednesday, two days ago. The price exceeded $320 (then the highest strike price on the books) and promptly surged to $371 before coming back down to around $320. That's what a gamma squeeze is: a frenzied rush by call sellers to cover calls.
It typically happens BEFORE expiration, not after. It's rare for market makers to get so caught with their pants down that they have to get squeezed for the previous week's calls on a Monday. I don't know where this idea of a gamma squeeze now at $320 is coming from.

This hurts my feelings. So, what's so great about the $320 threshold, anyway? Did it matter at all?

It's still a good thing. There may have been a few lingering naked calls to cover. And, like I said, it's always good to make put-holders lose money because stick it to the 🌈🐻, that's why.
$320 was a significant level because there were quite a few open call options at that strike. You can see the entire option chain here: https://www.nasdaq.com/market-activity/stocks/gme/option-chain
Go through and count up all the January 29th options that were in-the-money at today's close. I think maybe 90,000 or something? Screw it, I didn't count. Somebody who can figure out how to use a calculator can add those up. Multiply that number by 100 (because option contracts are sold in groups of 100) and that's how many shares need to change hands thanks to contracts expiring ITM.
It may be that with so many shares needing to change hands and so little liquidity in this market, some weird things could happen.

What weird things?

Well, if nothing else, a lot of shares will need to be tied up as the process of settling calls plays out.
You have to remember that when somebody says they own shares, they don't necessarily own own the shares right at that moment.
When you press "buy" on your phone and it says your order was filled, that doesn't mean that the process happens instantaneously. For all intents and purposes as far as you are concerned, sure, the process looks instant. However, there's a lot of messy stuff that happens on the back-end of the system between the brokers and the clearing houses. The clearing houses are where the daily tab gets settled: who owes whom and what they owe and at what price, etc.
Monday could be interesting as this tab for millions of stocks (in a market with only 50-something million shares actively circulating) gets settled. It might not be crazy, but it could. We'll see.
Michael Burry (Christian Bale, for all you noobs) seems to think that all the naked short-selling above the float will result in a shit-storm when people actually go to get their shares back: https://twitter.com/michaeljburry/status/1355221824661983233
Liquidity crunch + lots of shares being moved around + nobody knows where they all are currently = potential nightmare for Wall Street.

I just want my infinite short squeeze and my tendies, so how do we get the MOASS?

Something needs to be the catalyst. Something needs to get the short sellers really underwater, so much so that they are drowning. That's why there's been so much hype about gamma squeezes; the gamma and short squeezes are two separate things, but the gamma squeezing has been really good to us lately. It has triggered some crazy upwards price movements. I still think one was about to happen yesterday morning that would have triggered the squeeze-pocalypse, the Mother of All Short Squeezes. The bastards at the brokerages (acting with and for the clearing houses), took your tendies. It's criminal what played out.
I actually think a gamma squeeze was possible today, as well, as the price shot up to $378 around noon. If it had gotten to $400, it stood a very good chance of running up to $500, which would have caused a run up to $650 and beyond. Then Robinhood said, "Oh, actually, you plebs cannot buy 5 shares anymore, only 2 now." The price came back down again.
Oddly enough, the S&P500 sold off over a full percentage point (that's a lot of money) right after GME hit that $378 peak. Do you think this doesn't freak the finance world out? They know a gamma squeeze is like the fuse on a firework. It consumes itself until it ignites the rocket.

How will Wall Street defend themselves?

They will try to keep snipping the fuse. That's what all these restrictions on brokerages are about. They are trying to defuse the situation slowly because having it all get sorted out quickly and frantically is no good for them.
We need enough upwards price momentum that those option chains keep going up and up and feeding on themselves. They need to become a self-sustaining chain reaction, fed by hedging pressure. And you need to put pressure on your elected representatives to tell them that Wall Street cannot be allowed to just shut down the game when they are losing. I hate to tell you this, but the squeeze has so far been stopped purely by the losers declaring that it will not happen at any cost. It's bullshit. Eat the rich. But there it is.

Do you feel you've used the word "squeeze" too much by now?

Yes. I've been writing and looking at the word "squeeze" so much that it is starting to lose its meaning. Squeeze. Squeeze. Squeeeeeeze.
​
EDIT:
TL;DR Shares most likely already bought so no gamma squeeze, doesn't matter anyway 🙌💎🚀 🙌💎🚀 🙌💎🚀
EDIT 2:
STOP THANKING ME FOR THIS POST, RETARDS! Literally the first sentence is me giving credit to the original poster, THANK HIM.

Just yesterday I hit free twitch turbo partner on twitch after roughly 5 months of streaming (somewhat) consistently. Today I'm hoping to share some decent advice and give my own (learned) opinion on some of the frequent yet not always useful tips shared around here.
Before writing this I did a cursory search through the subreddit for frequently asked questions so hopefully this answers most of the ones that I myself have any experience to answer.
My simple request: I'm not going to be posting any links to my stream or anything but if you go out of your way to find it please don't follow/subscribe to the channel unless you are genuinely interested. Thanks big boss.

Should you stream?

If I have to read another thread or comment of a person asking if they should stream I am going to scream. What do you people expect to hear? Yes, please stream the world needs you, you will be rich beyond your wildest dreams and have all the clout to have ever been cloutted.
I know people who usually type out questions like that probably don't read posts but here is a hack I've used to answer my own dumb questions through out the years. Say that shit out loud and respond to it like someone asked you the question. Nine times out of ten, you end up answering it yourself and on the off-chance you actually don't you should have a more actionable question.
Example: Instead of asking "should I stream?" you end up realizing the only thing holding you back is having no mic or something. The question then becomes "I want to stream what's a good cheap mic?". Which is a lot better and doesn't make people want to pelt you with rocks.
For those of you who ask "should I stream or is it a waste of time?" please, I BEG YOU, stop. Most of the shit you do is a waste of time, you either want to stream or don't. Make a decision based on that.

Webcam, do you need one?

This question is asked so often that I see it every time I come on the subreddit. Unsurprisingly, the answer is always the same as well, yes you do.
However I disagree.
I have never streamed with a webcam, not a single time, yet I'm still here and somehow managed to get partnered.
Now, I know why every one parrots the same advice, it is because the people making tip threads, youtube videos, etc., all say to use a webcam. Harris Heller said it once and I'm pretty sure that was enough for the people who copy and paste what he says in text threads here to become their mantra.
The truth is, all that matters is the content. Ask yourself do you do/want to do a lot of react/just chatting content? If so, you probably want a webcam since your content will focus around reacting to content. Lirik doesn't use face-cam because his content is his gameplay and commentary, not his face. Corpse literally blew up and is famous for not showing his face (even though he is still a personality).
I know the whole "Lirik doesn't use a face cam" argument is going to be met with people saying "exception not the rule!!!" but seriously, just use your head. Half the people you watch probably don't need face cams. MoonMoon probably doesn't need a face cam, Critikal didn't have a face cam until he already had over a million subs on youtube, schlatt didn't either, Dream doesn't, AdmiralBahroo doesn't, almost every DBD streamer I watch doesn't, just think for yourself.
The point I'm trying to drive home here is not just that a webcam isn't required, but also you need to look at what you want to create and decide for yourself.
Edit: I saw someone say somewhere that you need a webcam for sponsors. That's cap. I've had a sponsor and nobody has seen this ugly mug.

Equipment in general

People like saying that they need this this and that before they start streaming. This is just stalling. Until last month I hadn't owned a desktop PC my whole life. Before that it was just laptops and using my phone to read chat or look up things. You obviously need SOME equipment to start, i.e. a computer and some form of internet connection, but that doesn't mean you need to pick up a shure, a streamdeck, 4 monitors, 6 consoles, and whatnot.
Here is my setup. Keep in mind I literally just upgraded this last month after saving up for several months:

• Blue Yeti: Hell ya baby got a free game with it too so I'm for sure pleased with this purchase. Edit: I recommend shopping around for mics since the yeti isn't as much of a "get this for streaming" mic as it once was. Plenty of good options out there for cheaper
• Two BenQ monitors: Like I said, I was using my phone for chat but that got old fast. These monitors are cheap and 144hz. There are some color issues but eff it I barely notice anymore
• Streamer PC from NZXT: My old laptop was from 2016 and made editing literal hell. Averaged 3 crashes every time I would try and render (and the renders took about an hour). Upgrading to this was the most worth purchase I've ever made. Also, the streamer PC got upgraded since I purchased, so you can grab a 2070 instead of the 2060 ti like I have :)
• Red Dragon Keyboard and Mouse: I'm a cheap ass so when I see light up peripherals for like 40 bucks total I am sold.
• Earbuds: Legit don't know the brand. I stole them from my sister like a year ago. I prefer these over a headset anyway since I don't want that gamer dent lmao

For those of you who are probably saying "GROSS A PRE-BUILT" remember that part prices are actual aids right now, not to mention the availability of even finding good parts. If you have the cash go pre-built that shit is amazing.
My recommendation:
Stay with your shitty set-up as long as possible but make sure to pick up a good mic first. Big streamers (looking at you Ludwig) shit on the Yeti, but straight facts all you need is to EQ that shit a lil bit and nobody will bat an eye. You don't have to pick up the Yeti (there are lots of cheaper options) but that's just the one I and many others have gotten since it is reliably a good ass mic.
Audio <- chat engagement <- pc upgrade

YouTube

How many people have to tell you bums to focus on YouTube before you do it? Twitch sucks ass. I'll say it, i'm brave. No discoverability, especially to those of you at the very bottom. Make a goddamn YouTube and start pumping out videos, it is not hard.
Ludwig made a power point on how to be a streamer that talks about a few things but the most important point of all was what he said on creating content for stream/YouTube. This isn't the exact timestamp but it do be close: https://www.twitch.tv/videos/896089267?t=01h24m14s
That advice is coming from a top streamer who also has over a million subs on YouTube by almost exclusively taking twitch vods and editing them for YouTube.
As for getting views on your videos here is my advice from my personal experiences:

• Thumbnail and title are important but there are outliers that can thrive without doing shit. One guy I saw has their most watched video (over 250k views) with a title like "[game] [character] gameplay" and the literal default thumbnail that youtube makes. AND to top that off it was just a VOD from their twitch channel.
• Audience retention matters. There is a reason massive YouTubers have these weird zoom in pans and flamboyant gestures all the time. Lots of movement and noises keep our tiny attention spans happy and frequently cutting is usually the key to success, although don't overuse it. I do very light edits and have been growing but that's more of my personal preference rather than a growth strategy.
• Respond and engage. If you have one comment on your video and they are complimenting you, why aren't you responding? This is by far the easiest way to get someone to continue to engage with you and trust me, that is the most important thing in the algorithms eyes.

My understanding of YouTube

So obviously, clickthrough rate and audience retention are the things that are constantly brought up when talking about gaining more views and what not, but I am fairly comfortable in saying that there are other metrics that you should be paying attention to.
Let me hit you with a something that would make Dream shake in his boots. I don't subscribe to anyone on YouTube. *gasp*
The reason for that being, I almost always have the videos I want to see on my home page. I never have to go, "wonder if x YouTuber made a video" since YouTube knows I watch and enjoy their stuff. The question for most people being, how does YouTube know what people like and how does it suggest it to them? Basically, by seeing how often people engage with your content AND also what type of content you create. (although keep in mind, youtube tries to throw new videos at you a lot as well, these are usually in-line with content you engage with though)
For engagement, think of it as like affinity points in a video game but in reverse. Before you get to bang that smoking hot sim, you got to woo them. Every time someone likes your video they get a point, every time they comment they get two, every subscription counts as like 10, watching an entire video might be 20, etc. Obviously, these are made up values but I hope you follow what I'm putting down here. Once they get enough points you start showing up more in their home page.
I know this because I have a different account on my phone that doesn't have the same suggestions as my main account because I watch different things on my PC than my phone. However, I do like to look at the comments while I'm taking a dump or something. Problem was, my videos were rarely every recommended. I solved this easily by liking a couple videos. I didn't even watch them, just liked and read comments. LITERALLY NOT EVEN SUBSCRIBED AND I GET NOTIFICATIONS ON MY PHONE SOMETIMES WHEN A VIDEO DOES WELL!
In other words, by getting people to like and comment on your videos you are almost guaranteeing they see future videos from you.
Now, keep in mind, engagement is only a small portion of the whole pie. And even though you might engage with a content creator often, there is still a chance you miss some of their videos because of one other reason, the content's genre.

Content Genre

You might have noticed this phenomenon on various different creators YouTubes, but sometimes they create a video that bombs. Usually, this happens when they create something outside of their niche. This could be as simple as changing games, or as radical as changing the entire direction of the channel. Even if you engage like crazy with a creator, if they change the content enough, you won't get that shit recommended to you.
This is the main reason some creators have several channels and why some even get pigeonholed to one type of content. The reality of it is, if you build your audience on one piece of content and then want to change it, you will be fighting an uphill battle. One of the best ways to fight that is to diversify early OR better yet, emphasize your personality over the content. Jschlatt shits views and he does whatever the hell he wants really. Same goes for jacksepticeye, markiplier, Ludwig, Critikal, XQC, and numerous other creators.
That being said, doing one game/genre isn't a bad strategy either. A metric fuck ton of OfflineTv's videos are the same game. DisguisedToast played Hearthstone on repeat, then switched to TFT, THEN switched to among us, and his videos absolutely kill. Valkyrae is one of the biggest streamers period and all she does is play/upload among us and rust. Then of course we have all the minecraft streamers too.
It's really up to you to decide, but I'd recommend going towards personality content since that allows the most flexibility.

Other Social Media (Twitter, IG, etc)

Lots of people here seem to think that they don't have time to do YouTube or some other BS they think up as an excuse, so they think that twitter, instagram, tiktok, etc are all ways to grow. Trust me, they are not good ways to grow.
These are all stupid treadmills that trick you into thinking you're doing something when in reality you aren't moving the needle by much if by any at all. Posting ten dumb tweets and reposting memes on IG seem "productive" if you frame it in the light of "content creation" but the two people that see all of these things don't really give a shit. Spend that time working on a video for YouTube.
Don't give me this "I don't have time" bullshit. Do small videos and work yourself up, become better and faster. Perfectionism is a cute word for procrastination.
Ok, now that I took a shit on them so hopefully, you won't grind on them all day, these are still ways to grow and are important. Having multiple platforms for fans to communicate and engage with you is always a good idea, but don't spread yourself so thin early on when nobody knows who you are. Prioritize the thing that will get eighty percent of your results.
I personally have a discord for people to come and chat in. Thing is, I had no intention of doing so because I don't really use discord that much. The only reason it exists is that people kept asking for it in the comments on my YouTube videos so I made one.
TL;DR: Don't put the cart before the horse :)
Edit: Oh ya I forgot to mention. TikTok is trash for growth. I won't mention names cuz that's probably toxic(?) but there is someone signed on luminosity who has 690k TikTok followers and 95k YouTube subscribers who barely cracks 100 views on Twitch and has a hard time getting over 1k on YouTube. So don't go thinking TikTok leads to immense fame ya darn kids

Hosting/Raiding

Getting hosted/raided means actual jack. I remember pretty clearly when I had like ten viewers, I got hosted by someone with twenty-five or something. I think only one person ended up saying anything in the chat to me about it and although some stayed for the entire stream, by the time I went live again I lost all of the people who were in the host. This seems to be something others have mentioned as well, you won't retain almost any views from hosts/raids.
Edit: Please do try raiding/hosting or otherwise networking with other streamers at least once. Your mileage may vary and it could end up blowing up your channel. Who knows?
Edit edit: Having something that you can do during the stream is huge when getting hosted/raided. Most of the time, if not all of the time, a streamer is ENDING their stream and sending viewers to you rather than timing it for your own content. So if you are doing something uninteresting or are in the middle of something you are going to get less retention than if you did something crazy to impress the newcomers. In other words, having a strategy for hosting/raiding growth is key.

Speaking on stream

This seems to be something a lot of people struggle with on Twitch since so many people ask how to do it when nobody is watching/chatting. Coming from someone who had this problem, the answer is pretty simple, talk for the content not the chat.
What I mean by this is you should be focusing on your content more than the chat. Since I play games, what I do is just say some shit about whats happening on screen and sometimes say something that is hopefully funny. Pick up a garbage item? Say something about how garbage the item is, ez.
If you're streaming to NO VIEWERS you shouldn't be streaming to stream anyway. What you should be doing is making a YouTube video in the hopes of getting viewers to watch your stream. The only way to do that is to have good content planned out that should effectively act as your script. Again, Ludwigs stream on this is good (it'll probably be a video soon) so make sure to check it out.
A more recent problem I've had was just how much I engaged with chat (suffering from success I know). When I went to edit the videos I had to cut large swathes of the video because I was just chatting to people. Make sure to avoid this when you are actually trying to get content out for YouTube as it can mess up the flow of a video and make it harder to edit. You still can chat with people just make sure not to go overboard. Again, Ludwig is a perfect example of this, just look at his videos and streams and notice the difference between the two.

Streaming as a job/hobby

I hate this dumb argument of streaming isn't your hobby or twitch isn't your job. You have 24 hours in the day, subtract 8 for sleeping and depending on your job, 9 for work. All that extra time can be spent doing whatever the fuck you want. Want to get big and make money streaming? Do work. Want to just stream while you're playing games anyway? Do that.
IF YOU WANT TO BECOME A PROFESSIONAL AT SOMETHING YOU PUT IN THE AMOUNT OF EFFORT REQUIRED TO DO SO! So stop telling people it has to be a hobby or it has to be a job. It can be either for christ's sake.

Partner difference

I have a checkmark which makes me a better person.
No, but seriously, partner doesn't really do much other than add more emote slots and some quality options. Also, you don't gain extra cash as a partner either. I don't have the mystical bounty board or god-tier split, just the checkmark to flex baby.

Opinion on affiliate

Devin Nash made a video about how affiliate is a scam, which is kinda true but only for people with no viewers. Having the sub button is huge and even when I was small small, affiliate gave me a couple hundred bucks a month for no effort on my part. Patreon is probably better though, no lie.

Twitch "grind"

If you stream 5+ hours a day without making content that lives somewhere else please form a neat line so I can smack you all. People saying they have no time drives me nuts, but when they also "grind" all day AND say that, it makes me want to punch air.

1. Stream YouTube friendly content
2. Stop stream and edit content
3. Upload and plug twitch in the video
4. repeat

That is the only "grind" you should be on. Affiliate is stupid if the 3 viewers you have are all just you on a different ipad.

Luck

You know what? Maybe PewDiePie got lucky and that's how he is such a big YouTuber. Maybe early twitch streamers got all their views because they were early adopters. Or maybe these people only got lucky because they showed up and actually put the effort in.
There are plenty of videos on my channel that looked like flops at first. They got like a couple of hundred views and didn't do well. However, after continuously publishing, a whole bunch of them ended up blowing up and becoming some of the most-watched. Without publishing more videos they would have ended up dead in the water. Consistency > luck.
I don't believe too much in luck when it comes to doing very simple things (LIKE MAKING A YOUTUBE VIDEO) but you literally cannot win the lottery if you do not purchase a ticket, it's that simple.

Editing Software

A couple of people asked this so I thought I should add it here. I use davinci resolve for my videos. Previously, I used hitfilm or something like that I can't quite remember the name, but I had to switch because they don't allow you to have split audio channels (i.e. one for desktop audio and one for mic audio).
I've literally never touched any paid software like premier or anything because, again, I'm a cheap ass.

What should you upload to YouTube?

Seriously just look at Ludwig, smallant, DisguisedToast, literally every top Twitch streamer with a YouTube. All three of the people I just mentioned are over one million subs on YT and are top streamers, so they are definitely doing something right.
In terms of off-stream content, guides are king. If you're a small YT channel with ZERO subs you can still get thousands of views by hitting the search algorithm of YT. My first 3 videos were uncut gameplay, guide video, guide video, in that order. Guess which ones have tens of thousands of views and which has less than a thousand? Guide videos are insane for small channels.
Edit: Actually, let's just call it searchable content. Searchable content is king

Ending notes

I think that's about it for this post. Hopefully, I covered everything although I doubt I did. If you have any questions I'll try my best to answer them and will probably edit the good ones into the post.

Hey guys. Not entirely sure if this is the right place for this post, but here goes.
Since the GameStop short squeeze and the Elon Musk Bitcoin pump happened, there's been a lot on my mind about both Bitcoin and regular stocks and I need to get this off my chest.
One thing above all has really been bothering me and I couldn't put it into words until recently: how rotten the whole system is and how it allows a minority to earn enough money to never need to work again.
Whether it's Bitcoin or speculative stocks, it works out very similarly. People throw money and hope they get lucky, no better than any gambling.
When they win, it's not because they were smarter or did some great service to society. They only had to install an app on their phone, go through some KYC and throw money at their crypto or stock of choice.
Money is a currency used to determine how much access to society's resources someone has. The more money you have, the more resources you can access. This can be better apartments, lambos, yachts, mansions, whatever.
The winners of crypto or stocks are just gamblers, they get a disproportionately high share of society's resources without creating anything of value.
And then there's people like me. I work a day job, working hard every day and trying to improve my skills, hoping to get recognized and achieve some measure of success in life, yet I get a pittance while all these gamblers win big.
To be clear here, I'm not salty because I didn't invest money or lost it. I don't believe in either speculative stock investing or crypto "investing". I realize that speculative investments have a far higher chance to lose money, and losing money can really hurt you and your life prospects.
With both Bitcoin and speculative stock investing, what happens in practice isn't very different. They're glorified casinos and the winners are set for life, and it really grinds my gears because they didn't do anything to earn it, while I'm sitting at a desk day in and day out, working hard yet barely getting anything out of it.
But what's even worse is that the winners' wealth is created through exploitative means. For someone to win money in the casinos, someone else has to lose. Usually a lot of someones. And the losers? They can be drastically affected by their loss.
It's even more sad when you realize that most of them were suckered into playing the game with false promises: "Bitcoin/Gamestop is guaranteed to moon! Invest now and you'll never need to work again!" and so on.
Then when things fail and the hysteria ends, a lot of people are left holding the bag. Some turn to substance abuse, others commit suicie, yet others double down and throw more money at the casino in the vain hopes that they'll win the next time.
And even if speculative investments had a 50% or higher chance of making you a winner, what would that mean for our society?
I'm no economist, but I'm pretty sure that our society would start running low on resources as people buy more luxuries they couldn't afford before and this would result in price inflation. Which in the long-term, would nullify the winners' wealth and make everyone else worse off.
It's all so upsetting, and very sad what our society really values.
Sorry if this was too long or rambly, but I really needed to get this off my chest. Let me know what you think in the comments.
Edit: This might not have been clear to some, but I'm not a Bitcoin supporter. I know how it works and why it's terrible.
Edit 2: Well, my free day of shitposting is ending, so I'm wrapping up this thread. Thank you all so much for your responses! There were many interesting discussions, even with coiners. I might respond more tomorrow, but not as much as today.

Hello Reddit! Forgive me as I am new to the online community. Just wanted to tell my story and maybe get some input. I [37F] accidentally found out last month my husband [38M] was using 'work trips' as an excuse to sleep with his also married coworker who lives across the country. When I say accidentally; he sent me a screen shot of Amazon purchases for our children and included at the bottom of the photo was a delivery to this woman. So yes, the worried wife in me checked his search history and email. It was all right there! I learned his November trip was a romantic getaway but this current one is luxurious! A spa resort complete with couples massages, couples cooking classes and monogramed bathrobes from etsy. He mailed her a box of gifts a few days ago for Christmas (how sweet), he purchases sexy lingerie, sent her money on venmo and even started planning a January trip to Las Vegas. I was furious when I learn all this but I kept my composure.
My plan: He left this morning for his 'work trip' but before he left I gathered all evidence of his affair. I spent 4 weeks collecting emails, credit card statements, reservations and confirmations. I wrote him a 10 page letter, put it in an envelope and taped it inside the lining of his suitcase. I plan on sending a group text to him and his mistress right after check in telling them to enjoy their trip. I will also inform them that a letter is in his suitcase and that I want a divorce. I wrote a special section just for her and I want to make sure she sees it so I will be emailing her the letter as well.
He is currently in the air. My group text goes out this evening. Stay tuned...
UPDATE!
His flight landed 1 1/2 hours ago. He told me he would text me when he landed and he has yet to do so. I have text him twice, they were delivered but not read. I checked our phone records and he text both me and her during his lay over. His email shows no Uber receipt from his final destination airport to his hotel. She must have picked him up. Something I probably should have clarified in my OP. She lives in the state he is visiting. So he flew alone.
I will be sending a group text to both him and his mistress in 2 hours as that will be 4pm their time and check in.
UPDATE #2
Sent pictures of our children and he did not respond. FYI he is in the middle of the desert.
My texts are going through green which puts a monkey wrench in my plan for a group text to him and his mistress. Need suggestions. Should I call the hotel? Connect right to their room. I worked so hard for this, it has to be tonight. HELP!
​
UPDATE #3
Thank you to everyone standing by and waiting. My best friend has come to my house to help me through this. It seems my texts are going through green (undelivered) but when my friend tried it is blue and delivered.
HE HAS BLOCKED ME! I guess that helps his guilt.
The plan now is to call the hotel. Will wait a few minutes after check in to make the call. Very soon. Please stand by.
​
UPDATE #4
Like most of you predicted he does not care, He had zero answers for my questions. That was. the mot hurtful part. But guess what, I have all the emotional support and economic support so i'm not mad. Every question I asked he had no response because his mistress was sitting there. I suspect when he is home alone with me, his answers will be different. I have made sure that he will not emotionally and financially fuck me because I have secured support from family and friends. He can go FUCK himself!!!!!!
UPDATE #5
Called his hotel room. Talked to his mistress and finally lost my shit. He ended up calling me a few minutes later and had zero empathy. I'm shocked, but I'm not. He said a divorce was in order and fought me on nothing. I expected him to be sad, he was not, but thats ok. I started packing up his shit, I have some great friend who helped me put everything in the garage. Good riddance? I guess so...
The Morning After
I wake this morning broken. My house is in shambles as I went on a rampage yesterday ripping photos off the wall, throwing his stuff in piles on the floor and breaking random objects in anger. Now that I've had a nights sleep I feel that I am a bit clearer in my thinking as I analyze the 'conversation' we had yesterday. He was different on the phone. That was not the man I know, but who was the man I've known? Because everything was a lie. The only thing he cared about on the phone was getting the kids. Which is perfectly ok, he should want to see his kids. But he refused to answer any question I had or admit to anything. I personally feel his lack of remorse was because he was sitting in front of his mistress. If I confronted him at home this would not have been his reaction. When he comes home Monday night I expect to see a different man. Also, in my conversation with the mistress I learned she is recently separated.
I called my mom. That was hard. While she and my dad have always been loving and supporting it was hard to make that phone call. I felt like a failure. I know it wasn't my doing but to admit that I made a poor choice in a spouse was difficult. Was this all because of a mistake I made 13 years ago? Honestly it doesn't matter. I have 2 days to empty my house of his things.
Who do I tell? Do I call his dad? Do I tell his mother? Best friend? Work buddies? I wish there was a manual on how to do this because I'm lost. Even with all my preparation I'm still humiliated.
Luckily he did not take his house keys when he left. So no need to change the locks, I'll be removing his keys and sending him on his way. I don't plan on seeing him when he gets home Monday night. Doors are locked, everything you own is in the garage, have your people talk to my people and I'll see you never.
Preparing for the Return
My friends and family have been wonderful. I am so fortunate to have such great people in my life. Yesterday they came to help me move all of his clothing to the garage. His collectibles were all packed up and sitting here, waiting to be appraised. It took a very long time and I was exhausted afterwards; but it was necessary. I honestly don't think he expects me to have gone to such great lengths to remove him from my life. Because I was so emotional when I confronted him there is a chance that he thinks I will want to reconcile. Fat chance, buddy. His flights lands a little before 10pm tonight. When he Ubers back home the doors will be locked. He told me on the phone he was just getting his car and leaving. I will be holding him to that. Something I should have mentioned earlier, the house is in my name only. He had no credit when we first started looking so everything is in my maiden name and purchased by me. Health insurance, car insurance, cell phones, utilities are all in my name. The only thing his name is on is his car. I think he realizes now that could all come back to bite him. I don't want a messy divorce, I'm willing to listen to his demands and try and meet in the middle on as many things as possible. He obviously doesn't care anymore so I'm going to do my best to not care and treat this like a business deal.
Update late tonight on his return. Thank you to everyone following and showing support. You are appreciated.
The Dust has Settled
It's been a few days since his return. For a man who so diligently planned a secret retreat with his mistress he took no time to plan for his return 'home.' He has been living in the basement since Monday. I allowed him to watch the children open gifts on Christmas but he has since returned to the basement. We have contacted 3 mediators and have appointments next week to start the mediation process. It's obviously over. We had a conversation/argument upon his return and he actually asked about reconciliation. I laughed. I laughed uncontrollably. Of course he pushed blame stating that our marriage has been over for a long time. Well, that's news to me. His actions of an affair were selfish and avoidant. He didn't want to have that hard conversation with me about counseling or divorcing and this route was easier and a lot more fun. Let's face it, he likes the attention of 2 women loving and pining over him. Well, I'm not longer playing that game. She wins, and oh what a prize he is! I have been amicable about talking about the terms of our separation. My biggest hang up is her. He may continue seeing her and I have questions about her character. What kind of woman/mother cheats with a man she knows is married and knows has children? When I confronted her on the phone last Saturday and asked her that question she was silent. I asked if she was 'sorry' and it was as if the line went dead. That kind of person I do not want around my children. People who show no remorse, especially when they are in the wrong, are not kind people.
I have found solace in friends and family and thank you to everyone's recommendation of ChumpLady. I'm half way through the book, read through the website and find it so helpful. Thank you again to everyone. I can't believe the outpouring of support. To the trolls, sorry you think I'm an unfit and inattentive wife, but cheaters cheat because they want to. Thank you again to all, not sure if you want a mediation update or if my story is over. Either way, I'm happy to have 'met' you all.
Where is the 'fault'?
If you listen to the books and advice always given about cheaters it all says the same thing: It's not you, they made a choice. MY STBX insists things were bad. While I don't think we were Pam and Jim or Lucy and Ricky, I think things were good. This process has made me review who I am, who I've been and who I want to be. Could I have made changes? Yes. Was I perfect? Absolutely not. But my decisions and actions were never detrimental to our marriage. They were more like sacrifices. And now I'm having those sacrifices thrown at me and I'm being called neglectful. Is all this about attention? A narcissistic need to be the apple of someone's eye? Him and the AP are now blissfully in the honeymoon stage. Vacations, late night phone calls like teenagers, present buying, etc. But what happens when the other shoe drops? What happens when she sees that he has very little patience with children? That he will walk past a a sink full of dishes completely blind to them? When he doesn't pay the phone bill for 2 months because he is spending money on silly gadgets? What then? While it's not my problem, I'm sure his AP will take issue with these things. Perhaps then she will be put in the situation I've been in for a decade. Should she be the glue and hold it all together or should she neglect responsibilities for his neediness? I've been told by him ( someone who is having a relationship and spending large sums of money on someone else) that I'm at fault. Perhaps, but what about the decades of cleaning up your messes? Maybe if I would have had 2 hour conversations with him every night things would be different, but to be honest, I'm happy I'm here. Now reflecting back I see how under appreciated I was. How neglected I was. All these year I thought I was helping but I was really being taken advantage of and this affair is no different.
Just a word of advice to all the mess cleaners, excuse makers, and spouse sheltering people reading this. Stop. Stop now. I've learned that all the 'helping' is simply them learning how to manipulate you. Draw that line in the sand. Prepare for an uncomfortable situation when they start to stumble under the pressures of real life. But don't lose yourself. I lost myself years ago and it's not a place you want to be.
Mediation & The Move.
We had our first mediation appointment via Zoom yesterday. It was very amicable, but only because I don't want to fight and I just want this to be over. He apparently wants nothing. Not the house, not the furniture, not what he's entitled to of my pension; he just wants to be done as well. As I've been packing up things in the house to declutter I've been offering him things, but he wants nothing. I suspect the moment our marriage is dissolved he will be packing up his collectables and clothing and driving across the country to live with her. I guess I should be ok with this as I don't want to be married to him anymore. It just kills me that he will be moving in with her and helping her raise her 2 children while mine are fatherless. It makes me so angry. Seething. The man who was abandoned by his father is now doing the same thing. Something he said would never ever happened because of the mental issues it has given him today. Well, it looks like that, as well as mostly everything else, was a lie. Again, I take solace in the fact that their honeymoon phase will be short lived. Reality will smack them both in the face and she will realize that he can be more hurt than help.
While I wish him well and hope the best, our kids deserve more than a Christmas/Easteone week in the summer father. No dad at basketball games, cub scouts, birthday parties and school plays. Meanwhile AP will have him and her children's biological father. I guess nothing in life is fair and my boys will have to learn that lesson early than I had hoped.
He's Gone.
My STBX left yesterday morning to visit her. I told him to go. I didn't want to spend NYE with him and our COVID circle friends who we celebrate with have zero interest in seeing him either. He booked a flight 30 minutes after I told him to go. My only stipulation was that he is back for this weekend as it's my birthday and I really need a day to myself. I've watched the kids for 3 weekends now while he went to see his mistress, I thought I at least deserved my birthday to relax. He text me while he was boarding that he won't be home for my birthday. Well then... He claims when he booked this he booked a return for the evening of my birthday. When he tried to change it he was put on standby, it would cost $1000 to change, it was a red eye etc. The excuses kept coming. He apparently does not realize I have access to the internet as well and flights are less than $300 with the airline he flew. I told him this and he said those flights weren't there when he booked (lies) and he will take care of it. I just want him to be honest. If you don't want to be here for my birthday, just say it. If you don't want to spend the day with your children, just tell me. I can't force you to be a parent. I told him the flights were available and affordable, it's his choice to rebook. Ball is in your court. That's all I can do, right? Stay tuned for an update on his return this weekend..
NYE Nightmare.
It was 12:40am on NYE and there was still no call from him. I was angry for no other reason than I explained to the kids that even though daddy wasn't with us he would call at midnight to talk to them and wish them a Happy New Year. I was made to be a liar. So, I text my STBX and his excuse was, 'they are with their friends, I didn't want to bother them'. Excuse me? Bother them? You mean you didn't want your kids to bother you is what you are really saying. If I was across the country on NYE without my kids I would have called and done the countdown with them via facetime. I think most parents would. But not him. He said, "If you would have told me that you told the kids I'd call then I would have." He tried to spin this on me, that I created this mess. Why do I have to tell you that you need to call your children at midnight? This small act said a lot to me. Our children are not a priority. I guess he didn't want to ruin his perfect vacation at his new girlfriend's house with her children. He has a nice new family now. Today is my birthday and he returns this evening. I told him in my NYE text that I will speak to him on the 12th, our next mediation meeting because I'm done. I tried to be civil for the kids but he is not putting forth the effort for them.
Liar Liar, Pants on Fire.
The past few days have been strange. We rarely talk (a decision on both our parts) and when we do it's about mediation, plans moving forward, or the kids. We have been civil and communicating well about those items. We are also friendly in front of the children as not to upset them. The situation is strange because we are getting along, there is no arguing, it's a shared focus to just get through mediation and divorce. That's fine by me. Last night while I was cleaning the kitchen I heard him on the phone in the basement. I guess he didn't realize the door was left open by one of the children. Not wanting to be a part of the drama anymore I went to close the door. At that point I heard him tell her how 'crazy' I have been acting. Excuse me? We don't speak and when we do it's very civil. How is that crazy? Well, he proceeded to tell her about a conversation we had and he lied about everything. While the conversation part was true he told her I exploded, I was in a rage, I was crying etc. None of that was true. He explained how he laughed in my face at my rage, also not true because there was no rage. I had told him awhile back before the NYE debacle that I would start dating eventually and he proceeded to tell her that I was bragging about guys I'm meeting. So far from the truth. I slammed the basement door. I'm sure he knows I heard. So I ask, 'Why the need to lie and make me a villain?' We aren't staying together, I have no reason to fight with you anymore, that's why we are paying a mediator. Why start lying to your new girlfriend that you love? How is that a good way to start a relationship? I don't know what is happening here...
This is my concern: This woman and him are in love and want to start a life together. Ok, thats fine, God bless and congrats. But, this woman only knows me by the stories (which I'm assuming are all lies) he has told her about me. If he does move across the country to be with her, how can I trust a woman who hates me because of misinformation to treat my children properly? I don't care if she hates me personally, I'll still sleep fine at night, but now I'm worried about sending my kids in the summer to stay with them. I want to confront him about this but I know I can't. Maybe it's not that I can't, but I don't know how. Also, he has told no one we are separated and definitely has not told people why. How come? You initiated this, you cheated, you are happy now, so why can't you tell people? He told his father that he was bringing the kids alone to visit him because he and I 'weren't seeing eye to eye at the moment.' What?! I would assume he's afraid to face the music or is just finding comfort in the little love bubble he has created. He chooses to not face reality. He has yet to look for an apartment for when the divorce is finalized but has booked another fight out to see her for Valentine's Day. He is refusing to face reality and it's so frustrating.
We have mediation on 1/12 to discuss custody and hope that we can settle everything and get the paperwork moving. I'm having a scheduled phone conversation with a lawyer today to discuss what I should ask for in terms of physical and legal custody when he moves. Update you all (if you want it of course) on mediation after the 12th.
Mediation and Empty Promises
Yesterday was our second mediation appointment. While it was amicable, there was some obvious tension. The tension was not on my end but more on his. Let me explain... During our first mediation we brought up the topic that he might move out of state. At yesterdays meeting I asked what we would do about custody if he moves to this particular state. When I mentioned the state by name the mediator was confused. This prompted her to ask him why this state that is so far away. His answer? "Well......." Then silence. He couldn't put into words the fact that he was leaving to be with his girlfriend. I had to finally chime in realizing we are paying by the hour that he was moving to be with his girlfriend. I realized later that was the first time he had semi-confessed to having an affair and a girlfriend to anyone. If you love this person so much why can't you just say it out loud? That whole situation confuses me.
Anyway, when it comes to dollars and cents I will be fine. He will also be fine. He will have enough to do what he needs and so will I. We have agreed to a physical custody scenario that allows him weekend and dinner visits. Fine by me, I want my boys to have their father. But, the situation becomes a bit more difficult when he moves. While he said yesterday he plans to stay here at least a year, I doubt that will actually happen. When he does move across the country he wishes to return for one weekend of every month to see the boys. Again, I'm fine with this scenario but where will he stay that weekend? He has no family. Will he just be taking the boys to a hotel? Again, I don't think he actually thought this through. This is a problem I/we will tackle when he does decide to move.
Lastly, the mediator said it could take about 2 months to finalize everything. He and I spoke after the session to go over some facts and figures and I brought up the tentative finalization date of our marriage. I told him how 2 months is a good amount of time to save some money and find an apartment to which he agreed. I also reminded him about his promise to not return to visit her until our divorce is finalized or he has a place to live. He quickly became frustrated telling me that he knew and tried to shut down the conversation. I told him I'm happy that we are on the same page but I'm not budging. If you leave while you still live here you can not come back, that is something we both agreed to.
Now the big question remains; Who does he break a promise with? Obviously it's a win win for me, stay home and help me with the kids while you save $500+ and move out quickly or leave to visit her and I get you out of the house sooner. I'm happy with either decision. I just want to move on with my life and enjoy my moments with my children.
Out For A Swim
When I took this dive into the Reddit community I had no idea where I would land. I thought my feet would hit shallow ground and I would be ankle deep on the banks in an uncomfortable swimsuit all alone. But to my surprise this deep ocean of Reddit readers have engulfed me into their warm waters and I am surrounded by a sea of support. For this I am thankful. I am also so touched by the droves of people who have reached out for advice or offered their own experiences as lessons to be learned. To the ones seeking advice I tell them, I am not an expert swimmer. I am merely doggy paddling through this sea of hurt and confusion. Please don't use me as a sign of strength. Because the truth is, I am not strong, I am you. I am the woman who reads because they are suspicious of late night phones call her husband takes. I am the spouse who has shouldered the entire family and is in desperate need of support. I am the woman who misses affection from her husband who is next to her in bed every night. I. Am. You. To those people who have yet to catch their partner cheating but are suspicious, trust your gut. Cheating is a coward's choice so be braver than them and face the truth. To the spouse who is 'the fixer' and takes on every challenge, take a step back. When you help (even with good intention) you are actually just hurting yourself. To the spouse who has tried everything to receive physical attention from their partner but to no avail, their affection is probably going somewhere else. These are lesson I wish I could have told myself months, if not years ago. Listen to me. Or just listen to you.
To the sharks in water who call me a 'bad mom', 'a crazy bitch', 'fake' or even just think I'm out of my mind, you will find no blood in this water. So it's best you move on and find a thread where the OP will chum the water for you. It's so very easy to read and judge, this I understand. I just hope that if this ever happens to you that you will be as brave, logical and composed as you expect others to be. If not, you will find sharks circling you as well. So I hope you are as strong of a swimmer as you claim to be.
If you are still reading, my saga/survival continues. Our final mediation papers will arrive this week. We were able to settle everything at the last meeting on 1/12 and the documents just need our signature. After that, the divorce papers need to be served and filed with the county. Then we await our court date which will be done via Zoom. Yes, a bit anticlimactic, but it will still serve its purpose of divorcing. He has started (finally) to look for an apartment but nothing is to his satisfaction. Maybe he is being picky or maybe he is comfortable living in the basement. Either way, once the divorce papers are stamped he needs to be gone. He has started making phone calls to her during the day and I can hear him giggling downstairs. I'm happy he is happy, I really am. That isn't passive aggressive. I know I will be happy one day too, he just got there first and that's ok. I feel like my life is in limbo right now. I can't move forward because I'm chained to the past. I'm hoping his move will be soon. I suspect he wants out for February 1st so he can go visit her for Valentines Day. I hope for his sake (and mine) that he makes his deadline. I will update again after I receive the mediation paperwork and divorce papers are served. I'm sure that will stir up a lot of thought and emotion so I'm certain it will be a doozy. Till then, I'll keep doggy paddling.
​

Disclaimer: I am not a financial advisor. This entire post represents my personal views and opinions, and should not be taken as financial advice (or advice of any kind whatsoever). I encourage you to do your own research, take anything I write with a grain of salt, and hold me accountable for any mistakes you may catch. Also, full disclosure, I hold a net long position in GME, but my cost basis is very low, and I'm using money I can absolutely lose. My capital at risk and tolerance for risk generally is likely substantially different than yours.
Note: If you have insightful/challenging comments, please consider putting them on the main post as soon as it get approve (assuming it gets approved) on investing*.*
Before I get into Monday's action, a couple of things:
I wanted to first give a shout out to piddlesthethug for capturing this screenshot, which shows that moment in time I referenced in my third Gamestop post, where some poor soul got sniped while sweeping the 29 January 115 calls. I added it into the post with an edit, but my guess is most who read the post a while back would have missed it. I guess my mental math in the moment was off as you can see from the image that the cost was actually just shy of $500k rather than $440k as I wrote in the post. Brutal.
People have also asked me where I stand on this trade. I was lucky to get in early, trade some momentum, and retain a sizeable core holding (relative to my play account). As I've mentioned some comments, my core holding, which I will hold until this saga plays itself out, would buy me a new car, all cash. Though after today I'd have to downgrade from a lower end Lexus to a Corolla lol.
Alright, so, today's action.
I have to admit that I was just glancing at the chart between writing emails, working on excel spreadsheets, conference calls, and meetings. Whenever I could, I was listening to CNBC in the background, and taking a closer look whenever I heard anything that might move sentiment, or theoretically telegraph an attack as had happened so many times last week.
In my opinion the price action played out almost by-the-numbers according to a squeeze campaign strategy as I laid out in my previous post. I want to be clear, however, that while it was consistent with what I laid out (liquidity drying up, trying to skirmish at lower and lower price points), you could reasonably interpret it other ways. As I mentioned in at least one comment, seeing things play out in a manner consistent with your expectations is by no means positive confirmation that your thesis is correct. It just happens to be consistent with the evidence you have so far. Always keep that in mind.
I tried responding to a few comments and questions in realtime as I got notifications on my phone. Just as a heads up, I won't always be able to do so, and it seems like there were a number of knowledgeable people commenting in realtime anyway. As I've said in comments on my previous posts, I am definitely not the smartest person in the room, so don't just take my word for it just because I'm the original poster. Please challenge anything I say if you feel I'm mistaken, and don't dismiss out of hand people who may have a different viewpoint.
One thing I thought I noticed in early morning market hours action was that there was no sell order depth above the ticker price, which I interpret as a good sign. Downward pushes into fairly good volume got sucked back up largely in a low-volume vacuum. The most extreme example of this was the first push right at market open. Tons of volume to push the price down, then a tiny fraction of volume as price got sucked back up. This means very little continued panicking and bailing due to the aggressive push, resulting in gaps to the upside on the follow-on buying. There were messages and comments from people concerned that low price would let the short side cover, but, as I explained, low price doesn't help the short side unless they can buy at that low price in meaningful volume. That sort of action where price gaps up as soon as buying (whether by shorts or longs) is driving price tells you that there isn't much meaningful volume to be had at the lower prices. From a higher level view, volume through the day dropped as price dropped, and that seems to have remained consistently true throughout the day.
There was some very strange after-market volume. No idea what that may have been, other than maybe hedge unwinding as T+2 contract settlement outcomes were determined. It seemed, at least to me, to be too much volume in too dense a time window to be retailers bailing out of their accounts en mass. It would make no sense to do so into the vacuum of after hours anyway rather than the firmer price support of market hours.
I got messages that I was both a short side hedge fund shill and a long side pump and dump fraudster trying to somehow take peoples' money. My sentiment analysis KPIs thus indicate I'm likely striking a healthy balance (lol).

The Game (Theory)

Ok, but seriously, is this situation a pump and dump?
Possibly.
I say possibly because, as I stated in a comment, a failed squeeze campaign is effectively identical to a pump and dump in that the only thing that happens is capital is transferred mostly from people who got in later to people who got in earlier. Even worse, in aggregate a good amount of capital may end up being transferred from the campaigners to the short side. Not that it was necessarily intended to be that way from the start--it's just what ends up happening if the campaign fails.
Ok, so failure aside, what are the dynamics of the trade? What kind of game is this?
In simplified terms, I'd describe a squeeze campaign where the short side doubles down as a modified dollar auction where the winning side also takes the losing side's bid money. In other words, at an aggregate level, it's winner take all, go hard or go home, with all the excitement of market action in the middle. Note that I said in aggregate and with market action in the middle, as that basically means even the winning side will have individuals who lose possibly everything if they get washed out before the end. As I mentioned in some comments where I urged people to consider taking profits if they needed the money, this is going to be a white-knuckle trade to the very end.

Power

For most of our lives, most of the time, the saying that 'information is power' and the closely related 'knowledge is power' are abstract, philosophical truisms that people say to try to sound cool and edgy. More tangible and relevant to our daily lives might be 'money is power', or, for the least fortunate, the threat and reality of physical force.
Today, for many in the GME trade, that previously abstract philosophical truism gained intense and urgent relevance. What is current SI? Can you trust numbers from S3? What about Ortex? Are there counterfeit shares in play? What is the significance of Failures to Deliver? Can the short side cover their position off the exchange? etc. etc.
Being in this situation, if nothing else, has lifted the veil for many people. The right information, in the right circumstances, is incredibly powerful. It outlines in stark contrast the power dynamics of information asymmetry.
If you want to exercise more agency in your future as a trader and investor, you have to make a habit of cultivating your critical thinking skills and ensuring you have diverse and often divergent sources of information. Do not let yourself be trapped in an information bubble where you can be easily manipulated. Most of all, try to avoid developing a siege mentality at all costs. If nothing else, in my opinion, it's critical for your long-term financial success.
I don't know the answer to those questions definitively, and my purpose in creating this account and posting is absolutely not to get people to listen and necessarily believe everything I write. In fact, it would make me happier if I see people use some of the tools, techniques, and concepts I've tried to introduce to challenge some of my thinking. Catching my mistakes helps me. Doing it in the open for all to read helps everyone.

Faith, Conviction, Calculated Risk

Many people trade and invest according to wildly divergent strategies.
Some people, including those that most Wall Street types consider to be 'responsible' investors, invest on blind faith. You put your capital is someone else's hands (hopefully a qualified fiduciary), and trust that they will do a good job. The only judgment you exercise really is in choosing the person(s) in which to place your faith. This is not entirely unlike what many WSBettors are doing with respect to DFV. I do this with my retirement accounts, though lately I've been considering transferring about half my retirement capital to a self-directed IRA.
Others trade on conviction. They have, for whatever reason, a very strong belief in an investment thesis that they are willing to put to the test by putting capital at risk, and are willing to lean into the thesis through unfavorable price action so long as no disconfirming evidence comes to light. I consider value investors to fall into this category.
Others are momentum traders and 'technical analysts', who are trying to read the market data to look for asymmetrical calculated risk opportunity. These opportunities need not necessarily be tied to any particular underlying fundamental investment thesis. All that matters is whether you win on a sufficiently frequent basis and carefully manage your downside risk.
I think it's healthy to try to gain an understanding of all three approaches. I personally also find it necessary to be careful if you find yourself switching between those approaches mid-trade. I.e., if you started in the GME trade on faith, it may be deeply disturbing if you find yourself in the no-man's land between faith and conviction, where you have learned enough to understand more of the risks in the trade, but not enough to understand the underlying investment thesis of how it could play out. I'm not saying you shouldn't try to make that transition--just try to maintain self awareness if you choose to do so to avoid making any rash decisions.

Swimming In The Deep

So, the consistent #1 question I always get: what happens next? My consistent answer, which I know frustrates everyone, is I don't know, and no one else does either.
One person in the comments made an astute observation that perhaps the truth, which some may find disturbing, is that our fate really lies in the hands of the whales on the long side rather than retail being in the driver's seat. This may very well be true. I would give it better than even odds at this point. In fact, even if retail collectively represents more shares in this trade, retail is not a well-organized, monolithic entity, and therefore would have more difficulty playing a decisive role at critical times.
Another question I got, which was a very good one to be asking, is what evidence do we have that there really are whales on the long side? For me, there have been critical actions over the past few days that I would have found to be highly unlikely to be achievable by retail investors, such as the sustained HFT duel into the close on Friday. That was very consistent, relatively well controlled, and sustained push on volume of 6-7mio shares traded in the $250 - $330/share price range. Oversimplified math would peg that at just shy of $2bn in capital flow. That is not retail--particularly with so many retail brokerages restricting trading at that time. The 17mio shares sold into the aftermarket action consistent with a squeeze (and Ortex reported reduction in short interest) is also definitely not retail. Others have pointed out massive action in the options today. Tons of block purchases in the millions of dollars and high 6 figures. Not retail.
All of that being said, does that really change very much? Even if you consider yourself to be part of a movement, and have genuine feelings of solidarity with your retail fellows (I do, which is why I'm writing these posts and holding that core position), in the end you are trading as an individual. This is a point that I have made repeatedly. In the end, you need to know yourself, know your trade, and have a plan. Your plan may conceivably be to follow someone else (I know many are following DFV to whatever the end may be), but in the end even that is still your plan as an individual.
If my thesis is correct we will continue to see lower trade volumes, and price grinding down to a floor of harder support, possibly even at the retail line of support (~$148/$150) I outlined in a prior post. There may also be some price dislocation tomorrow depending on options contract T+2 settlement impact. I don't know enough about what to expect there. If the squeeze is to happen, unless RH lifting restrictions or people transferring their accounts causes a surge of retail momentum, it will happen after that type of price movement continues for a while (maybe days, maybe longer), until sufficient liquid float has been locked up.
Right now options action is heavily weighted to puts, so any market maker hedging activity will put more pressure on price.
If the squeeze fails to happen there won't be a siren, ringing of a bell, or anything like that. It might happen gradually and non-obviously until suddenly, as only the market seems to be able to do, it becomes obvious that whoever's still there has been left holding the bag. Hopefully this isn't the case, but if it is I'll be right there with what at that point may only buy me a razor scooter rather than a car lol.
If it succeeds, it should be fairly obvious. Just don't forget to ring the register!
Either way, this is market history in the making. As I said in a previous comment, when you ride the rocket, it's definitely not going to be smooth--but it might just be awesome.
Apologies for the lengthy post again. Good luck in the market!

https://steam.cryotank.net/wp-content/gallery/slaythespire/Slay-the-Spire-01-HD.png
Slay the Spire (StS) has finally arrived to Android! For two years many of us dreamed for this legendary game to be accessible on their mobile devices, and finally the day has come. No need to talk about how awesome this game is, how it basically started a new genre of card-based dungeon crawlers (UPD: or roguelike deck-builders, if you prefer the term), and even about how well or poor it works on Android hardware in its current state (there will be lots of these posts during the days to come). What I wanted to talk about is the impact this game had on (specifically) mobile industry and how other developers were able to utilize this innovative formula in their own products.
Personally, I am somewhat glad that StS release was delayed that much. This allowed a lot of "clones" to be spawned, many of which I enjoyed playing. Some of them appear to be straight rip-offs, but others introduced many fresh ideas of their own, some even surpassing the predecessor's greatness. What the heck am I talking about and how is this even possible will be revealed to you, should you decide to stay on a bit and read through the article below.

General info

First and foremost, let's clarify the important thing: card based dungeon crawlers are not Collectible Card Games (CCGs). Even though they share the same ideas, and some of them (StS included) even have a feature to permanently improve starting cards, or a mode to play with pre-constructed decks, this is not the case for the genre in general. There is no place for multiplayer and PvP battles here: a turn-down for the most, but an undeniable advantage for the rest - only though-out puzzle-like single-player experience which we can pause at any moment and continue when the time is appropriate. Thus, there will never be troubles with downtime, matchmaking, ratings, overpowered builds and other PvP stuff, as there will never be a satisfaction of crushing your opponents with the power of your mighty intellect... The fun of discovering interesting synergies between various card combinations is still present, though.
With this being said, let's quickly look through the core features of the genre, which will be relevant for almost every game we review below: - we must explore a dungeon, which (usually, but not necessarily) consists of three floors with increasing difficulty; - we have limited control over the order in which to face the challenges; - there is a powerful boss in the end of each floor; - we battle using deck of cards, usually drawing new cards from deck to hand each turn; - there is a limitation on how many cards we can play during our turn; - we start with a weak basic deck, but get new cards as rewards for fighting enemies; - there is a possibility to permanently remove (weak) cards from the deck; - successful gameplay strategies revolve around utilizing the synergies between different cards; - there are several character classes, each with their own cards and tactics; - there are often additional items to acquire in the dungeon, providing bonuses and emphasizing specific types of play;
Before Slay the Spire (StS) came out, there was another card-based dungeon crawler called Dream Quest (DQ), which considered by many to be the first game of the genre (at least the first one to make a significant impact). Not sure if the former drew inspiration from the latter, but certain parallels can easily be drawn: in fact, all of the features mentioned in the list above are valid for DQ the same way as it is for StS. The rich plethora of card based dungeon crawlers (both PC/Console and mobile) originated from some combination of the two.
StS, however, can not be considered a clone of DQ, as it introduced a lot of original ideas and spawned its own line of descendants. It is always interesting to analyze each new title to see which of two games was the biggest inspiration, and to group them accordingly. For me the main criteria lies in the core difference in battle system: - in StS, enemies (usually multiple) show their intentions at the beginning of each turn, so we know what to expect and what to play against; - in DQ, the enemy (usually single) draws and plays cards the same way as we do, often using the same abilities and synergies we ourselves can use.
Introductions aside, let's finally get to the interesting part - the games! (Note: Games are listed in alphabetical order to not give any privileges to one over another. For my personal preferences see the comment section).

Dream Quest clones

Call of Lophis takes us on a grim journey through infested lands full of deadly monsters, dangerous traps, and one of the most ridiculous card art I have ever seen. It's surprising to see how dark fantasy elements combine with the humor and gags this game presents. From the gameplay point of view, there is enough card variety and interesting synergies, but it will take a long time to reach the interesting parts. Really: this game just does not know when to end, forcing new and new dungeon locations onto us with basically the same monsters and same approaches to dealing with them over and over. Its the boss battles which crank the difficulty up to over 9000, and if we don't have the right deck by the time we reach them, there is nothing we can do to pull it off. Plus there is some shady business going on with monetization schemes, where even paid version of the game makes us spend money to unlock additional classes and grind a lot to buy permanent improvements. Only truly dedicated players will be interested in dealing with all this nonsense. [...] UPD: Haven't checked on it for a long time - maybe the situation improved somehow.
Crimson Deep is still in early alpha and was not updated for a long time. But the development hasn't stopped, and there is a new major release approaching in the nearest future. It makes no sense to talk about the game till then: the version in the store is too raw to provide any significant gameplay experience, but it would be interesting to see where it goes in the end.
Dimension of Dream is probably the only game that has the same grid-based dungeon layout as DQ itself. This time with full 3D and a possibility to fight only limited set of enemies before facing the final boss (which allows to moderate difficulty as we go, either defeating tougher enemies with better rewards, or to save HP and fight only the easy ones). This game has one of the most interesting battle systems and 6 truly unique classes with deep complex strategies unlike anything we have ever seen (not only the cards themselves, but the order in which we play them greatly affects the outcome). Unfortunately, the English version was pulled from Google Play, leaving only Chinese version for Asian people to enjoy. UPD: Apparently, the game was re-released under different publisher with the title Dreaming Dimension, so there you have it. [...]
Meteorfall: Journeys offers the streamlined approach to dungeon crawling, where all our decisions boil down to Reigns-like "swipe left / swipe right" operation: picking the path, encounter resolutions, and even battles are simplified to utilize this binary choice mechanic. But don't worry: these specifics do not affect the gameplay, still providing enough strategic depth to appeal even to hardcore players. Add here a neat visual style, lots of character classes and their variations, cool card combos, and you get a true masterpiece, which is Meteorfall. [...]
Night of the Full Moon offers a fresh take on a fairy tale of Red Riding Hood, but adding darker elements to it (including werewolves, zombies, mad scientists and cursed cultists). It demonstrates an amazing production quality with top-tier art, beautiful audio support, and intriguing storytelling. Gameplay wise, we have the closest thing to DQ, safe for the grid-based dungeon maps, which were changed to just picking the encounter out of available three. Some people may argue that the game does not offer enough strategic variety, only suggesting a single best build for each class, but you will still get different runs due to the randomness of card and power-up drops. Another argument of it being too easy is completely nullified on higher difficulty levels. Wish the story would develop in a different direction, though. [...]
Spellsword Cards: Origins provides the gameplay similar to the Night of the Full moon, but focuses more on role-playing character development part. Aside from choosing a class, we also get to pick race with unique traits, and a school of magic, greatly affecting which cards will be available to us during the run. The problem here, though, is that monster encounters do not demonstrate a lot of variety, forcing us to fight the same enemies over and over, and the difficulty is rather high, with starting cards doing almost nothing and enemies quickly run out of hand with their devastating attacks, whereas good cards are hard to come by, and even then you will still be devastated on later stages. [...] UPD: Or maybe I am just bad at this game (welcome to comment section for valid strategy suggestions).

Slay the Spire clones

Blood Card offers a unique possibility to construct the dungeon ourselves, providing a pool of encounters of different types: regular monsters, elite monsters, events and shops. We pick a desired encounter from the pool, deal with it and then move on to the next one. Another interesting feature is that our health is defined by the number of cards in draw pile, which limits our tactical possibilities, but is compensated by the fact that we get multiple copies of cards as rewards for fighting enemies. There are a lot of interesting mechanics related to moving cards between various piles, as well as other neat features (like: the Death inevitably arrives in three turns and starts whacking everyone on the field with increasing persistence), but I'll leave them for you to discover on your own.
Card Crusade seemed like a cool idea of mixing classic "roguelike" dungeon crawling with its "deck-based" counterpart, where we explore the dungeon the same way as we do it in Hack, Angband, Pixel Dungeon and other similar games, but use cards to fight actual enemies. In reality though, this implementation just adds a useless abstraction, as the adventuring does not provide any tactical benefits and is only there to inter-connect battle sequences (heck, even breaking pots and chests does not give us any coin, of which developers themselves warn us at the very beginning!). The cards are not very interesting, with next to none cool synergies, and new classes (which should be unlocked by performing specific actions on previous runs) do not provide any major difference. [...]
Card Quest takes us on an epic journey through fantasy lands, where we will perform great deeds as one of the classic RPG hero classes (fighter, wizard, rogue, ranger), each with their own equipment and fighting disciplines. The interesting part is that the cards we use during runs are defined by said equipment, and if we find some new pieces during our adventure, we get to keep them for further runs. Also worth noting that defense cards are played not during our turn, but during enemy turn, which requires us to plan ahead a bit. This being said, the game is extremely hard - it will take a lot of unsuccessful tries to finally reach the end. But the variety of dungeons and possible builds will keep us occupied for long.
Dungeon Tales for a long time was the closest, yet simplified copy of StS mechanics (up to similar cards and gaming strategies), but without certain elaborate features, like upgrading cards or using potions. The basics are left intact though: we still build our deck along the way and face the powerful boss in the end. There are only two characters available yet, but each has a couple of viable builds, so it can keep us invested for quite some time. [...]
Endless Abyss is a close StS clone with very similar character classes (only two so far) and a lot of cards with exactly the same effects. Graphically the game looks very good, but angry monetization, lots of grinding, and forced ads make it almost impossible to fully enjoy. [...]
Heroes of Abyss is a predecessor to Endless Abyss with basically the same core gameplay, but very simplified dungeon crawling part. There is no floor map with choosing our path, nor there are elaborate adventure events: just a series of battles with the boss in the end. The spoils we get after each battle go into improving our starting deck and unlocking new difficulty modes with higher rewards. What makes the game unusual, is that we chose the preferred build right from the beginning with appropriate set of starting cards, without the need to rely on the randomness of card drops. It may be interesting to unlock and compare all the 6 available builds, but once the task is done, there is almost no reason to play the game further.
Heroes Journey provides a different setting for a change: this time we will play as space explorers, who crash landed on an alien planet. Thus, instead of familiar swords and bows, we will be wielding blasters and energy shields: the rest remains the same, up to the majority of cards straight up copied from StS. Unfortunately, this innovative idea was completely ruined by repetitive grinding and angry monetization, forcing player to make dozens of identical runs with the same small card pool, until something adequate is unlocked. Oh, and the game is long abandoned by the developers.
Pirates Outlaws is an amazing rework of original StS ideas in a pirate setting with some changes to gameplay mechanics, such as introducing persistent charges needed to play certain cards, and different buff/debuff statuses that replace each other. There are also some questionable features, such as ship stamina that deteriorates over the course of the journey and leads to game over if not repaired in time, or a quest system, where quests can not be completed in parallel, but instead picking the new quest resets your progress in the current one. Some may also argue that new classes take long to grind for, or expensive to pay for, but with permanent booster pack this should not be a problem. Anyway, the game is highly recommended for any StS fan. [...]
Rogue Adventure offers a twist to usual mechanic: our hand is limited by 4 cards, but each time we use one of them, a new card is immediately drawn to its place, thus we never run out of cards to play. Non-starting cards are common for all classes, but are grouped by type (or race), giving huge synergies depending on how many similar cards we have. Aside from this, the game offers diverse gameplay by providing a lot of different classes, each with its own unique strategies and dynamics, and some interesting items to work around. The developers constantly provide updates with bug fixes and new content, but be warned that new mechanics may break what you are already accustomed for.
Royal Booty Quest started as a straight rip-off from StS with the same classes and abilities, and even cards having the same names. And absolutely atrocious pixelated visuals, which were not possible to look at without eyes bleeding out. Over time, though, it developed its own unique mechanics and interesting card combinations, but the art style did not get any better. However, if this is not a problem, the game is enjoyable to an extent, but since it was not updated for a long time, I doubt it will keeps anyone's interest for long. [...]
Tavern Rumble adds an unusual strategic element - a 3x3 grid, on each units and enemies are placed. The core gameplay remains the same (we still see what opponents are planning to do each turn and adjust our own strategy accordingly), but the addition of the grid introduces another tactical layer: not only we should maximize the damage output, but also plan the layout for our troops to provide the effective delivery of said output, while at the same time establish enough defense to minimize the damage to ourselves. There are a lot of cards and classes to play around, different play modes and a lot of features that are still being constantly added to the game. Some may argue about simplistic pixel graphics or long repetitive grinding, but it is easy to unlock everything within reasonable amount of time, even without paying. [...]

Other Games

Of course, my criteria does not work 100% of the time, as some games are way too different from anything else to confidently enroll them into one of the categories. They either demonstrate traits of both, or implement entirely unique mechanics of their own (which I like the most), while still maintaining the basic dungeon crawling ideas (so a lot of the games you might think of will not end up in the list). What I have in mind is the following:
Dungeon Reels removes the cards from card-based dungeon crawler - why bother, right? Instead, it provides some kind of a slot machine, where each turn three rows spin independently to pick available actions based on what slots we have in our reel. Winning battles awards us with new, better slots to add, each with their own specifics and synergies. Enemies also randomize their moves with slots of their own, but the most satisfying mechanic is the possibility to spin a jackpot with three identical slots for some powerful effect. It is interesting to see this concept developed further, but the game has not been updated for a long time.
Iris and the Giant takes us on journey through imaginary world, inspired by Ancient Greek mythology. Each battle takes place on a grid, where various enemies advance in huge numbers. We play a card from our hand, usually dealing damage to nearest enemy, and then everyone who is still standing and can reach us deals damage in return. There are cards that target multiple enemies at once, as well as ways to play more than one card during our turn, so most of the time we will be deciding which card to play at which moment. The deck has limited size, and if it becomes empty we lose, so new cards should be constantly acquired. There are a lot of interesting mechanics to discover, but the game is very hard and luck based, requiring a lot of trial-and-error to finally reach the end. [...]
Phantom Rose Scarlet has the same basic core, but with completely innovative battle system, not seen in any other game. On each turn there are four positions for cards to be played in strict order, where two of them are randomly filled with opponent's cards, and the remaining two are left for us to fill. Instead of drawing the hand, we have our entire deck available right away, but playing cards puts them on a cooldown, which does not reset between battles, so we constantly face the strategic choice of playing our best cards right away or keep them for later. The game is in active development, providing new mechanics and further developing the story, which is quite captivating here. [...]
Void Tyrant is a bit of a stretch, but still a "card based dungeon crawler", in which we basically play BlackJack against our enemies by dealing card with numbers from 1 to 6 one-by-one from our deck until we stand or bust. Whoever has the highest value wins and deals damage to the loser. There are various supporting cards on top of this mechanic, allowing us to either jinx the outcome in our favor, or to perform various other metagame manipulations. The only downside of the game is the lack of content, as it quickly runs out of interesting things, and since it was not updated for a long time, it is unlikely that anything new will be added in the future. [...]

Conclusion

As you see, there is a lot to play besides StS, so even if you are not hyped by its long-awaited Android release, but appreciate a good intellectual dungeon crawler, you will find something to suit your needs. I hope, even with StS release, new games of the genre will continue appearing on mobile phones, and I will gladly review them and add to the list. If you know any hidden gems (or even trash) that was not highlighted in this article, please share the names and/or links in the comments. I am also open to any discussions on the topic, as I am obviously able to talk a lot about my favorite genre.
Good luck to everyone in all your endeavors.
P.S. I am well aware of games like Dungeon Cards, Card Adventure, Dungeon Faster, Meteorfall: Krumitz Tale, Card Thief, Maze Machina, Cube Card, Card Hog, Fisherman, Relics of the Fallen and other "grid-based puzzles", but do not consider them to be a part of the "family".

I was away the last few days giving depositions to a different three-letter government agency--sorry about that. GME continues to be a Carollian experience. Through this looking-glass, there is a world where stock prices do not reflect the value of the underlying companies whose partial ownership is traded through common stock. To some, the market is, more or less, broken, for now. That's not a good or a bad thing. The market mechanism is not supposed to make an implicit judgment. There is information in price, but that information is difficult to divine and interpret. Markets aren't good, bad, rational or irrational: they just are.
When one group takes action in a market to alter the playing field, the market is not a pure market anymore. It's lost 'integrity' and loses more with every modification. This typically only happens in moments of crisis or technological change: countries ban short-selling, for instance; exchanges will unwind clear 'fat-finger' trades, etc; speed bumps may make the market more 'fair' for the technologically behind. We're learning more about how markets can have what appear to be 'unintended' consequences (flash crashes, GME-style reverse crashes), or can be 'gamed' (spoofing, quant as a whole), but we're back to square one: markets don't have feelings. The rules are simple: post your price, the amount, and the rest is order-matching. All of the rest are modifications against the spirit of the laws of the jungle.
So, like you, I'm disgusted by what happened the other day. My guess is the DTC and others required incremental collateral for clearing any GME trades--this required RH to raise capital. I actually don't think RH is to blame here! Every broker did the same thing, so there must be a root cause. I mentioned something like this may happen the other day, and I repeat my admonition to not trade on margin. I suspect GME long buying will require 100% margin at virtually any broker. Brokers have to protect themselves, but they can be influenced by the rest of the parties in their food chain, as we saw.
GME is still worthless compared to its current price. Keep that in mind. You're buying a flower, a baseball card, a beanie baby, a photocopy of a Picasso, all for prices that you know are a lot more--not just a lot more, but insanely more--than anything close to what it could be worth. Those are the facts: GME is just a shitty retailer that will struggle to survive, let alone become a business worth 20 or 30 billion dollars. All of the Ryan Cohen transformation stuff is BS relative to the price change. A good team may be able to turn around GME to the point where it is worth $40, MAYBE. It'll never be worth $300, or at least, the probability that GME operations could support a reasonable price like that is about as small as my odds of becoming a MLB starting pitcher.
That doesn't mean the stock can't go up. The world is conflating what a market is by trying to assign it implicit judgment. Traders have the right to buy and sell anything they'd like for any price that they'd like. One man's "bubble" is another man's "deep value." I bought a rap CD for millions of dollars. That's my right. Did I overpay? Well, that's really not a judgment anyone can make, is it? If I paid $10,000,000 for a baseball card which is well-known to trade for $5, then it seems clear I've overpaid, right?
No. Speculators buy assets for many reasons. Sometimes its because they're making a value judgment: this is WORTH more than my purchase price. But what does that imply? What is worth or value? Most speculators (I suppose you can define that as a buyer who has an explicit intention to sell at a later date, probably soon) buy things because they are confident they can sell at a higher price soon. The value judgment is secondary, and sometimes not relevant at all. Speculators are the animating spirit of the market. If you curb the ability for speculators to act, you have a farcical excuse of a market. But, you can't blame a clearing broker for saying, "what happens if your client can't clear this trade?". The stock just went from 300 to 150--what if your client is broke? To me, the simple answer there is to require 100% margin. Limiting the ability for someone to buy a stock for 100% margin (literally the cash to cover the trade is set aside) smells awful. I wouldn't bother with conspiracies--they won't help you trade well.
Many of you are brand new to the world of trading. I've traded my whole life--it is very, very hard. I am not very good at it, to be frank. I do think I'm a very good value investor, and in biotech, an extremely good binary-event trader. 99% of people, including in finance, are not good traders. 99% of people are not good 'value' investors, either. That doesn't mean you shouldn't want to become one or try. But it is inordinately difficult. There's nothing wrong with hobbies or 'side gigs', but I really think you should think about the market like a professional sport, or fighting/boxing league, where you are permitted to 'play with the pros'. It doesn't make too much sense to 'part time' fight Brock Lesnar or take LeBron 1-on-1. But this is what you're doing when you trade. Be careful.
For those newish to trading, here is my advice on some reading materials:
1) Market Wizards series. This is one of the best series on great investors/traders, which takes you into the mind of the successful trader, in their words. It's always by the same author (JS), too, who is very experienced and knowledgable.
2) Trading to Win by Ari Kiev. Read it. Probably the best book on the theory of trading ever written.
3) AVOID most books on trading. Unless there is a reason to read them that you can really digest, they're probably empty wastes of time at best, or at worse, could mislead you into some terrible strategy. You can't go wrong reading the books by or about people who have made fortunes in the market. But always take everything as a grain of salt. AVOID the opinions of others in general. This sounds self-referential, but will make a little bit more sense after reading 1/2.
When you read these books, you'll realize that my life of 'value investing' is basically irrelevant to the near-term of the stock market, especially in situations like GME or TSLA. GME will probably go down over time, as I mentioned, because it is wildly overvalued and, generally, wildly overvalued stocks tend to go down over time. That doesn't have to be true. That's why investors diversify and 'stop-loss' and do other things to protect themselves. You should do all of that, too. My style, and those of others, simply relate the price of something to the amount of cash it can generate. That's value investing in a nutshell, and it is what the entire industry of Private Equity (Blackstone, Apollo, Carlyle, etc.) is all about. Hedge Funds and Mutual Funds do a little of this as well, but to decide whether a stock will go up or down is this dark art called 'trading'. The "next" Steve Cohen might be being born right here, right now, in WallStreetBets. Who knows.
I still think GME will trade at 1,000. Why? I am guessing, like all of you, and every other trader out there. No one knows anything. As I mentioned, the borrow interest rate is what I think is important to watch. You're at a disadvantage to other traders in that respect: hedge funds can pull up that information through phone calls, contacts, etc. which you are hopeless to compete against. It doesn't mean they're going to make money and you won't. It's just something to think about. I like 1,000: it's a big round number that is meaningful in the psychology of the markets, to a very small extent. It may trade there for 5 seconds, or it may trade there and keep going higher. For some reason, I think the stock has a bit of "destiny" to go there. I may be 100% wrong. As I said, to the extent I have any skill at all, it's generally in being able to predict the value of stocks of companies (and other assets) many years from now, and in biopharma, if anywhere.
I hope everyone does well, and even is being entertained, by all of this. Just make sure that if you have a massive gain in GME, that you 'take something off the table'. Don't be greedy. Some of this money is life-changing. Even if it is 10% of your position, book some kind of gain. It will feel good. Be objective. Don't use margin--you may lose more than you can afford. I've been there. It sucks balls worse than you can imagine. Don't do it for GME, even if RH or anyone else lets you. Don't go too crazy with options, even if they let you. I hope you all are able to buy Wu-Tang albums, tendies, autism treatment and whatever else your hearts desire at the 'end' of this, whatever that means. Good luck WSB, I love you!
(sent from martin, posted by mo)

Greeting Theta Gang boys and girls,
I hope you're well and not bankrupt after last week. I'm just now recovering mentally myself. I saw a few WSB converts and some newbies asking for tips, so here you go. V2 of my Options guide. I hope it helps.
​
I spent a huge amount of time learning about options and tried to distill my knowledge down into a helpful guide. This should especially be useful for newbies and growing options traders.
While I feel I’m a successful trader, I'm not a guru and my advice is not meant to be gospel, but this will hopefully be a good starting point, teach you a lot, and make you a better trader. I plan to keep typing up more info from my notebook, expanding this guide, and posting it every couple months.
Any feedback or additions are appreciated
Per requests, I added details of good and bad trades I made. Some painful lessons learned are now included. I also tried to organize this better as it got longer.
Here's what I tell options beginners:
I would strongly recommend buying a beginner's options book and read it cover to cover. That helped me a lot.
I like this beginner book: https://www.amazon.com/dp/B00GWSXX8U/ref=cm_sw_r_cp_apa_OxNDFb2GK9YW7
Helpful websites:

• Tasty Trade (TT) and Ally Invest have helpful articles and videos.
  • https://www.tastytrade.com/tt
  • https://www.youtube.com/c/tastytrade1/featured
• Ally training:
  • What is options trading? https://www.ally.com/do-it-right/investing/trading-options-for-beginners/?CP=EM2012111
  • Top 10 options mistakes: https://www.ally.com/do-it-right/investing/top-10-option-trading-mistakes/?CP=EM2012111
• 3 common option mistakes: https://us.etrade.com/knowledge/library/options/common-mistakes-options-traders-make
• Common options strategies: https://www.optionsbro.com/basic-options-strategies/
• Investopedia has tons of great investing info for stocks and options: https://www.investopedia.com/
• Kamikaze Cash Theta Gang Videos: https://youtube.com/playlist?list=PLOweupE79XXiBaeH_xBpkUcYUsrAaKQen
• 20 rules of professional traders: https://www.investopedia.com/articles/active-trading/022715/20-rules-followed-professional-traders.asp

Don't trade until you understand:

• You can lose your entire contract value when buying.
• You can lose a lot of money when selling "naked", theoretically unlimited.
• How option expiration works.
• Theta (decay) and how it works. This is imperative since it's attrition when buying and a payout when selling. https://www.optionseducation.org/advancedconcepts/theta
• DTE: Days till expiration/expiry
• Options positions with respect to price:
  • ITM: In the money; strike is below stock value. Signif
  • ATM: At the money; strike is just at or above the stock value, often very highly traded. Can be very effective with moderate - long term expiry.
  • NTM: Near the money; strike is above the stock value, but fairly close. Slightly unofficial term.
  • OTM: Out of the money; price is at least a few strikes from the current stock price. I would say 10-30% over stock price.
  • Very OTM: Not a real definition, this is essentially a lottery ticket. Cheap, but almost certain to expire worthless unless there is explosive movement.
• Understand delta in general and how delta changes with ITM and OTM options.
• Understand all the greeks at a high level, as you get better understand them well. The greeks: https://www.optionsplaybook.com/options-introduction/option-greeks/
• IV, IV crush, and how IV affects pricing. In general, you want to sell when IV is high and buy when the IV is low. Increasing IV is good for held calls/puts. IV drop or crush is generally good for sellers.
• Selling options can be quite beneficial. Once you have a good general understanding, lookup thetagang . Kamikaze Cash has good youtube videos on most theta strategies (linked above). I personally believe selling options (especially cash secured) is much safer and can consistently make you profits. Θ Gang 4 life.
• FOMO and how to avoid chasing a dangerous trend. DO NOT CHASE FROM FOMO!
• What intrinsic and extrinsic value are. Know how they are affected by being exercised/assigned and how theta affects them.
• Understand that some of WSB recommendations are straight up high-risk gambling and factor in the information accordingly. Be careful with Meme stocks and the survivorship bias on YOLO plays. However, I love the sub and think it’s hilarious. It has a lot of valuable information / DD if you are comfortable with the “colorful” language. It’s also great if you like rocket ship emojis.

Basics / Mechanics

• Understand the 4 "main" option types. Buying or selling a call and buying or selling a put. Spreads and more complex multi-legged option strategies are based off these in some way (see below)
• You can sell calls with 100 shares of stock or if you own an underlying longer term option; see LEAPS and PMCCs later. Selling calls naked is incredibly risky and often requires Level 4 (very advanced) permissions and usually a lot of capital. I will literally never sell calls naked since I don't want to ruin my life and end up living in a dumpster eating saltine crackers.
• Puts can be sold/written cash covered (cash secured), which means you have the cash in your account to buy 100 shares. Your broker will put this money on hold until the trade is closed. Puts can be sold "naked" using Margin and Level 3 (with most brokers). Your broker will hold a percentage of cost of 100 shares (often 30-40%, 100% on meme stocks) allowing you to sell more puts. This increases your available capital/power as well as increasing risk.

General Tips and Ideas:

• Don't EVER leave (short) spreads open on expiration day, close them. (more details below)
• Start off trading very small. Slowly build up over weeks / months. You need to get accustomed to a fifty dollar swing a day, then a few hundred, then a few thousand. You need to ensure you don't get emotional (see below). I started trading options with 5k, then 25k, 50k, and later over 100k. I added my own funds over time and used my gains to build my account. Don’t go all in immediately, that’s dangerous and unwise.
• Especially as you build up the amount of money you have invested, keep it diversified among several stocks.
  • Don't go all in on one thing, ever. Be able to take a hit from one stock and not mortally wound your portfolio.
  • A company may be doing great, then there's a major product issue out of nowhere. If you are overexposed in one stock this can really hurt you.
  • I had to roll options I sold that were about to expire completely worthless because FDX's CEO changed and the stock took a hard dip.
• Don't trade emotionally. If you realize you are emotionally trading for vengeance, you should probably exit the trade and cool off for several days with that stock. Same if you get caught up in a wave of hysteria.
• Have a plan for every trade, ideally with entries / exits that are specific values, ranges, or a set condition. This helps remove emotions. This is super important for strong movements and high volatility (see later).
• Use an options profit calculator from your broker or an online one before entering a "new" trade, especially a complex multi legged trade: https://www.optionsprofitcalculator.com/
• “Rolling” an option: Closing your existing option and opening a similar one at different strike and/or expiration.
  • Rolling a call “Up” would be selling a call you own and buying a cheaper call at a higher strike.
  • Rolling a put “Down and out” closes your original one and buying or selling one at a lower strike at a longer expiry.
  • Better broker interfaces have a literal “Roll” button. I know E-trade does. You can manually do it by selecting relevant contract legs.
• If you have a losing trade, re-evaluate it. If your initial assumption is definitely incorrect, close it. Don't stay in losing trades forever and lose the entire value of the option over stubbornness. If you re-evaluate and you think your assumption was right, hold, potentially consider adding another cheaper option (or buy another call / put). Rolling out sold options can help here.
• Don't try to day trade, especially with options. It's statistically unlikely to be profitable. Day-trading with options introduces extra liquidity risks and is dangerous, especially with spreads.
• Try not to over-trade, you'll likely mis-time the market over time. When I get emotional I over trade, then lose additional money on wash sales. If you scale your entries into positions it should help alleviate your desire to exit positions when they turn badly against you. Whenever I buy calls I do it at larger increments after W almost made me loss my hair; luckily it eventually came back.
• NEVER enter a position on a stock you have no idea about, especially when you read about it online or heard about it from some rando.
• At market open options contracts are often volatile and inflated. Buying during this time can be more expensive. Options are usually cheaper mid-day, I read somewhere 2-3PM is cheapest. I’ve had success around 12-1PM EST after prices settle.
• Try wheeling on cheaper stocks once you get all fundamentals down.
• When selling puts if you are very bullish consider "doubling down"; note this is higher risk. Use the credit from your put sale to buy shares or a cheap call. This can be roughly inversed with puts, except I wouldn't ever recommend shorting shares.
• Learn from your mistakes. You can’t go back in time and beating yourself up (to a point) is useless. Make a physical &/or mental note of it so you don’t do it again. If you don’t learn from it, then beat yourself up so you won’t do it again.
• If you have friends that like to trade, I find it helpful to discuss strategies and planned plays. I talk openly with my close friends about my current holdings and planned trades, it helps keep me accountable. If I get a wide-eyed look, I might be doing something excessively risky or stupid. I’ve over-leveraged myself in calls twice and I knew I shouldn’t have done it both times. When I tell my friends what I did and I’m embarrassed, it exemplifies the face that I shouldn’t have done it in the first place. You will also get ideas for new strategies or plays from them. It’s good to stay versatile and use multiple strategies when appropriate. Beware of group think/echo chambers.
• I recommend NEVER telling someone what to buy/sell and when. I’ll tell people MY plays or what I like and why, but I will not encourage them to emulate what I do. Depending on the audience, I’ll tell them my exact positions along with my exit and entrance strategy. With closer friends I’ll offer my thoughts on their trades (if asked). If my friend is doing something really risky (one of my friends does some scary stuff) I may ask them if they want my advice, and provide it, especially if they overlooked a risk/event. I will not encourage someone to execute/enter a trade since it has a high potential for hurt feelings or animosity all around.
• Don’t fall in love with a stock. Just because something made you money before and you have high confidence in it doesn’t mean it will keep performing. I joke that FDX betrayed me when it started dipping and losing me money. I was over-confident of its bounce-back and sold too many puts too quickly. I’m in several losing trades because of it. However, I will keep good stocks in my rostetracking list or try different strategies or re-enter trades when they change their behavior.
• As you start to both buy and sell options and get more experience in general, you'll start seeing the two sides to every trade. You will likely start adjusting your strategies or trying new trades out because of this. Things will likely click one day. Most/all the greeks and options concepts will become almost second nature. For me this was when I could build an Iron Condor from scratch, which was a watershed moment involving a good understanding of many strategies.
• Understand Liquidity and volume.
  • Trading in low volume, low open interest contracts results in wide bid/ask spreads and difficulty having your contracts filled. Look at all the data for a contract, not just the strike and price.
  • Monthly Expiration dates typically have better liquidity.
  • Multi-legged trades (Common examples are 2-legged vertical spreads or 4-legged iron condors) have more difficulty being filled, especially on bad brokers like Robin Hood. Having very liquid options for all legs is extremely helpful in obtaining timely and well-priced fills, which maximize your potential profits.
• Time in market vs timing the market:
  • It is extremely difficult to time the market perfectly. If you wait for the perfect opportunity forever, history has proven you will miss out on gains. Keeping all your money out of the market has proven to be ineffective. Now if there is something serious happening with a stock/the market (like say a new pandemic), don’t go all in. I recommend entering incrementally at dips. If the stock has huge upside potential it may never go down, so it might make sense to partially enter at the current price.
  • IMIO selling puts is a great strategy to get into a stock you like, or at least make money off it. I think buying stock in lots of 100 is usually for suckers. Selling an ATM or ITM put (assuming the math works out) on a stock you were going to buy and hold is ALMOST free money.
  • I recommend keeping some cash available regardless. If you have a very large account or expect a downturn, hedging with indexes like QQQ, SPY, or VIX or calls/puts may be wise.
• Every trade can't be a winner. You will take some losses, you must get used to it. I don’t like having a realized loss of 1K or more on any trade. However, this will happen, especially with larger accounts.
  • As long as you win more often and beat the S&P that year I consider it okay. I’m kind of aggressive, so I consider 20%+ annually good. 30%+ annually is great. 40%+ and I’m dancing. After trading options I am almost baffled by my old belief that 5% annual returns (mostly from dividend ETFs) was “good”. That’s nothing to me now since I’m willing to take risks. Note: While lots of people danced in 2020, realize that’s an insane Bull Run year and is atypical.
  • Adhere to your own risk tolerance and never over-extend yourself, especially with margin use. Don’t make huge gambles leaving you uncomfortable. Only gamble with money you are willing to lose.
  • My personal strategy is to make safer gains for the year and then enter slightly riskier strategies using those gains. I can be slightly-moderately more aggressive and compound my gains. For me I often sell puts to make money, then when I see a big opportunity I’ll sell a put and buy an OTM or moderately ITM call.
• Understand it’s not safe to try and get rich overnight. However, once you hit big “steps” things may start to snowball. You can enter more positions and take more risks if you choose to.
  • For me this when I hit 50k, then 100k. I was able to balance low and moderate risk positions to more significantly grow my account. I’ll even do a high risk thing now and again because my gains can absorb it (assuming I have them).
  • I can’t wait to get to 250K, then 500K. I know it’ll take quite a long time, but I am confident I’ll eventually be able to have 500K and (hopefully) 1M in my non-401k trading account with gains and additions from my job. I can only imagine how “dangerous” I will be with that kind of capital.
• If you missed "the next big thing" like AAPL, TSLA, or the time machine I’m building in my basement. Don't get upset, learn from it. Adapt and become a better trader for next time.
  • Figure out why a company was so promising, before they mooned. Determine how you would have traded differently in hindsight. Apply those lessons to the next company you believe has long term growth prospects.
  • For me that's putting in 1-2.5k towards shares and/or buying LEAPS on it. Depending on my bullishness I may buy “cheap”, fairly far OTM calls. The far OTM options are sort of lottery tickets. If I'm right the (relatively) low cost will have explosive profits; if I'm wrong, they didn't cost that much so it's a calculated loss I’m willing to accept. For more serious bets I’ll buy ITM LEAPS to run PMCCs on. I also like to buy 1-2K in my 401k for very long-term plays.
• The stock market hates uncertainty, it seems to crave the status quo. A shakeup can potential tank a stock, even if it's nothing. With shares you can wait it out, but this can be problematic for options. If you see volatile/uncertain times ahead (politics, disease, manufacturing, earnings, etc.), you might want to reduce your overall portfolio risks or hedge.

Profit Retention / Loss Mitigation

• If selling options, it is a viable strategy to close early after a large gain with many DTE left until expiry. See TT videos / strategies on this.
• Don't hold options through earnings unless you literally want to gamble. I like playing on earnings run ups, but that can be risky.
• If you hold options through earnings, IV crush will happen immediately afterwards, devaluing the option. However, if the option is profitable enough, IV crush won’t matter, which will still make money for a call buyer. A sold put sufficiently far OTM will benefit from IV crush, even if the stock dips after slightly bad or lukewarm earnings.
• Don't throw good money after bad. Don't gamble on a recovery if your assumption appears to be wrong or the market is flat out tanking. If you are wrong and still believe in the company, wait twice as long as your original plan (wait for your 2nd entry point vs 1st) before adding to your position.
• Consider using stop losses to lock-in profits on rides up or sometimes use them to prevent losses. Note, stops can be easily triggered in volatile options. Now when I'm up a lot on calls (especially around earnings or large momentum run-ups) I always set stop losses. I have been burned too many times. In December 2020 I didn't set a SL on several thousand dollars of FDX calls I was already up on and I "lost" ~$5K of unrealized gains. If you're up big, don't get too greedy.
• A possible strategy if a stock is on a tear and you have multiple options open: Close some positions (I prefer to do this incrementally if the stock has momentum), but leave 1+ open in case the stock goes into outer space/the floor. Next, set a stop loss with a little buffer below its current movement / range so it doesn't get hit unless the stock falls hard. Finally, watch the stock closely and if it keeps rising, keep moving the stop loss up in little bits incrementally. This will let you keep more profits on a hot streak, but give some protection and secure more gains. It will also help eliminate FOMO if a stock exceeds your expectations.
• Have rules when to roll out, down & out, or up & out. I like TT’s roll at break even or at 1x loss and to always roll for a credit (or for me a very minor cost). Obviously these rules need some monitoring. Know your stocks, the news, and technicals so you don’t jump the gun.
  • If you roll early for a credit and you’re right, it’s not the end of the world. You’ll just need to hold longer, which will obviously tie up capital. Sometimes it’s better to tie up some money (especially if you aren’t paying interest) than eating a huge loss.
  • Rolling too late can be worse though. I currently have a very underwater FDX put I sold that is over 2x loss, rolling it does almost nothing unless you want to pay a debit or extend it extremely far out.
• On huge options gains, I strongly you recommend taking profits by rolling up/down or incrementally sell your contracts at several different prices (this is why having multiple contracts is nice).
  • Rolling up involves selling your initial call, then using a fraction of your proceeds to buy a cheaper, further OTM call with the same expiry; puts are inverse this. When rolling up I like to ensure the new option’s cost is 15-40% of my realized gains. I’ll buy a more or less expensive new optoin based on my convication to the stock and predicted movements. You can also roll up and out to get a further expiry and strike.
  • This is monumentally important if you are playing with incredibly high rising stocks or during a short squeeze.
  • Sad story time: I completely screwed up when I forgot to roll up, twice, during the GME gamma/short squeeze. I didn’t take my own advice; I didn’t have a real exit or transition plan and I got emotional. It all happened so fast and I was at work; the insanity of the run up and subsequent gamma squeeze caught me off guard. I should’ve clocked out and thought through the situation for 15-30 minutes to form an impromptu plan, then executed trade(s). My moderate risk tolerance coupled with my desire to take profits took over. When the stock partially cratered after a run up, I sold to retain gains. In the heat of the moment I thought the squeeze was squoze and it was going to plummet into the ground and I wasn’t being rational.
    • On 1x 4K call I would’ve made an additional 15-25K if I rolled up to a cheaper contract with some of my profits.
    • I know I missed out on significantly more with a 2nd call I had. Depending when I rolled it, it would likely have been an additional 25-50k in profits.
  • I talked about learning from your mistakes above. This mistake is branded into my brain due to the massive gains I missed out on by not rolling up. I’m furious with myself as I write this 1 week after the GME gamma squeeze, I’m a planner and I didn’t plan. If anything I own is significantly up ever again, I’m rolling up (or at least setting a stop loss). If necessary, I’ll roll up a trade multiple times to keep extracting profits.
  • Learn from my mistake so you don’t miss out on gains too. I strongly recommend rolling up when you are up big on a call / roll down when you are up big on a put. This enables you to take profits, stay in the game, and keep extracting more gains.
• If you trade a lot of options, talk to your broker about a discount. I was getting the standard $.50/contract with E-Trade, but I traded over 300 contracts a quarter and was able to get the fee reduced by over $.10 by just asking. I am now doing more spreads and condors, so once my volume gets very high, I’ll ask again.
• If you have a broker that isn’t great and you want to switch, leverage your current trading fees to the new broker. Tell them you’ll move over $### thousand if they beat your current options trading fee per contract.

Trade Planning & Position Management Tips

• As you gain experience, start monitoring what kind of Delta, OTM, DTE, etc. you are most profitable with. Use it in your future trades. You'll often see the tasty trade 30-45DTE .3 Delta strategy for selling.
• Before entering a trade, look at rough technicals like resistances and supports to consider your relevant strikes as well as entry/exit points. Look at upcoming earnings & dividend dates as well as stock/market news.
• Consider staggering strikes and expirations for safety and diversity; it’s nice to avoid assignment on 3 puts at once because you used the same strike for all 3.
• Incrementally enter positions on large rises/falls. One of my favor strategies is to buy dips after over reactions. By doing this slowly in large price "steps" it helps combat FOMO and helps you avoid getting slaughtered.
  • This will also help you avoid "chasing a falling knife". It also ties into having a plan.
  • I set alerts at several predetermined prices and I REALLY try not to enter new trades unless I hit my preset points. It makes me less emotional and usually more effective.
• Don't buy far expiration options with poor liquidity for shorter term plays. I bought 1x GME 1-year+ LEAPS call before the 2021 short squeeze. That was stupid, I should've bought 2-3x 60-120 day calls to have better liquidity. I also paper-handed it and missed out on my lambo.
• If selling options, consider rolling (for a credit) to avoid assignment when it makes sense / meets your plan. Rolling closer to expiration can be a valid strategy to get theta on your side. On the flip side, if the stock moons or plummets it could've been better to roll before it got crazy deep ITM. See rolling “rules” above.
• Covered Calls:
  • If a stock has a large movement range, I think it can be worthwhile to wait to open a CC after the last one is closed/expires. I have been more successful waiting for another opportunity vs. opening one immediately on the Monday after the second the last one expires.
  • Consider selling covered calls at all time highs/peaks. If you sell a CC and the stock dips significantly, and you think it’s temporary, you can buy to close your CC for a quick profit, then reopen it later.
  • If you own Meme stocks, selling covered calls runs the risk of missing out on large gains. On these stocks I typically only sell them further OTM than I normally would or not at all. If I do sell CC on a Meme stock I try to ensure I have 25-100 other shares that won’t be called away.

-Advanced Beginner-
Spreads

• Spreads (with 2 legs) are neat because they manipulate how delta and theta act. It caps your gains and losses, but you can profit with less stock movement. Try several spreads on a P/L calculator to see for yourself.
• Spreads usually require margin trading.
• Spreads allow you to define max losses (assuming you close before expiration day) and use less capital.
  • Experienced traders will open many spreads at identical/similar strikes to heavily profit off movement. Spreads can make you/lose you a lot of money if you are right.
  • For example. I could make a $200 premium off a $500 risk trade, max loss would be $300. This is much more effective capital utilization than a naked or cash secured put, however it does not have the same downside protection or “wheel” potential as a sold put. Higher risk, higher reward.
• Vertical Debit spreads: I think of these like mini calls/puts. I personally don’t use them unless calls are outrageously expensive or the break even is absurdly high, but there’s nothing wrong with them. A call debit spread will lower your breakeven and overall cost vs just a call. You can do clever things like making a positive theta call spread if you’re creative. I like doing this since I hate losing money to theta.
• Vertical Credit spreads:
  • Very good theta strategy to define downside/upside risks.
  • A put credit spread is bullish and allows you to bet on upward movement with less capital and defined losses.
  • A call credit spread is a bearish strategy that allows you to bet on downward movement. These are very cool since they allow you to sell calls without selling naked calls, which can ruin you financially. I see selling these as better than buying puts since it’s so much easier to be profitable; to be redundant, Θ rocks.
  • https://www.schwab.com/resource-centeinsights/content/reducing-risk-with-credit-spread-options-strategy-0
• I repeat this on purpose: Don't EVER leave short spreads open on expiration day, close them. If you don't close, they better be VERY far from the strike on a non-volatile stock. In after hours a stock can jump/dip below your strike and be exercised without the other leg to protect you. This can lead to massive, life ruining losses. This is not an exaggeration, google this and be scared. It happened to a fair number of people with TSLA. Video explanation: https://www.youtube.com/watch?v=rtVFj9nRRDo&t=315s
• Short Straddle:

Trading Mechanics, Taxes, Market Manipulation

• Learn about wash sale rules. They suck and are very easy to activate with options. This will eliminate your ability to write off losses. Over trading can easily cause wash sales. https://www.investopedia.com/terms/w/washsalerule.asp
• Short attacks:
  • Learn to recognize these sketchy attacks by hedges/firms. They manipulate the market, it’s been documented countless times. A common one is rapid short selling, which pushes the price down.
  • Short Ladder attacks:
    • https://www.google.com/amp/s/seekingalpha.com/amp/instablog/11442671-gerald-klein/3096735-anatomy-of-a-short-attack
    • Some people say short ladder attacks don't exist. I've seen some very strange stock nosedives off low volume, so I tend to think they do.
  • If you plan well enough and the market doesn’t give up on the stock you may be able to use it as a great opportunity to buy the dip.
• Cramer explains how he intentionally manipulated the market when he ran a hedge fund years ago. Multiple links to the video are below since this video gets pulled often, Cramer / The street never wanted this to go public.
  • Reuters article: https://www.reuters.com/article/cramer-interview-idUKN2036292620070320
  • httpss://youtu.be/r07Gg92YjOI
  • https://youtu.be/VMuEis3byY4
  • https://youtu.be/JEzsfPmh894
  • https://youtu.be/QFfjX8dW-QQ
  • Due to this video I don’t fully trust Cramer. His show can give you stock ideas to buy (or inverse), but you never know where his true loyalties lie.
• Plan for taxes if you are up big. You may need to over withhold or contribute to taxes quarterly depending on your situation. https://www.irs.gov/taxtopics/tc306

-Intermediate / Advanced Strategies (work in progress)-
You’ll notice many of these strategies inverse one another.
Options Strategy Finder
This website is great for learning about new strategies, you’ll see many links to it below.
https://www.theoptionsguide.com/option-trading-strategies.aspx
Short Strangle / Straddle

• Both of these strategies profit from little price movement. I recommend using a P/L calculator to determine BE, profit, etc.
• A straddle sells (or buys) two options at the same expiry and strike.
• A strangle sells (or buys) two options at same expiry with different strikes.
• Both these strategies involved selling a Call and a Put for a credit. Straddle uses ATM legs, strangle uses OTM legs.
• Limited max profits and unlimited risk. Due to the unlimited risk, I am not a fan. However, many people like these a lot.
• https://www.theoptionsguide.com/short-strangle.aspx
• https://www.theoptionsguide.com/short-straddle.aspx

Iron Condor and Iron Butterflies

• These strategies profit from neutral or mostly neutral stock movement. They receive a credit to open and benefit from theta decay. If your stock is range bound, these may be a good choice.
• These are both 4 "legged" trades, so you will have 4 trading fees to enter or exit the trade. A lower cost or zero cost broker shines here. However, “bad” free brokers will give you poor fills, which may not be worth the discount.
• Condors and butterflies have "wings" which are your purchased puts and calls. The wider the wing the higher the max profit/risk. The condor body can be riskier and skinny with a narrow high profit range or wider for a much greater chance of success with lower payout.
• An iron condor is built by combining a put credit spread and a call credit spread with the same expiry.
• An iron condor can be thought of as a modified short strangle with limited risk, and therefore a bit less profit. I prefer defined limited risk.
• The butterfly is similar except instead of a plateau it has a sharp peak. My personal mental note is that a condor looks more like a strangle with wings, while a butterfly looks like a straddle with wings.
• Pay attention to earnings dates when you open these, I have forgotten to check before and it led to bad trades.
• https://www.theoptionsguide.com/iron-condor.aspx
• https://www.theoptionsguide.com/iron-butterfly.aspx

Long Condor (Debit Call Condor)

• The debit version of an Iron Condor. You expect the price to stay inside your defined range. This strategy profits from neutral or mostly neutral stock movement. I’ve never tried this, Iron Condors make more sense to me.
• Limited risk / limited reward.
• https://www.theoptionsguide.com/condor.aspx

Short Condor (Credit Call Condor)

• Inverse of an Iron Condor. You expect the price to go OUTSIDE your defined range. These are useful when you expect significant price movement. Credit to open.
• Limited risk / limited reward.
• Can be harder to set up. I want to try these, haven’t yet.
• https://www.theoptionsguide.com/short-condor.aspx

Reverse Iron Condor

• Inverse of an Iron Condor. You expect the price to go OUTSIDE your defined range. These are useful when you expect significant price movement. Debit to open.
• Limited risk / limited reward.
• https://www.theoptionsguide.com/reverse-iron-condor.aspx

LEAPs

• LEAP Options are options that are long term with many DTE, often over a year until expiration. LEAP calls are great for long term growth plays (downtrends with LEAP puts) or simply when you really like a company and can't afford 100 shares. LEAPs (or any "longer term" option) enables you to sell a PMCC or PMCP (below)

PMCC / PMCP

• PMCC or PMCP are poor man's covered call (or poor man's covered puts). They are diagonal options often used with purchased LEAPs. You sell a shorter DTE call/put with a further OTM strike than your purchased call/put. For PMCC/PMCPs it is often recommended to recoup your extrinsic value as soon as possible, some recommend with your first call CC or put sale, to ensure you are positive if the option is assigned early. These have a lot of moving parts and strategies. If you buy a barely ITM call/put and sell a nearby strike call/put you run the risk of the purchased option getting "blown by" on large stock movement and ending up with a very negative losing trade. Keeping your purchased LEAP deeper ITM should protect you. Check your initial PMCC using an options calculation to make sure you don't screw up.
• I'm currently tinkering with these myself. So far I like .7-.9 delta call LEAPS with 30-45 DTE calls on my CC. The goal is to hold the LEAP long term, potentially until expiration, and constantly sell calls/puts on it that expire worthless. Typically the call/put is rolled up and out or down and out if it's going to be assigned, unless you don't want your LEAP anymore.
• Some people look at these many sold CC or puts as profits, I look at them as lowering my cost basis until it's zero (or even negative). I have a page in my notebook I write each CC on my NIO LEAP (I Meme stock sometimes). I find it satisfying to slowly see the cost of the original option disappear. When I originally wrote this I had ~2 years left on it and it's 9-10% paid for; that doesn't even count the actual gains the LEAP has.
• TT states this is considered an IV play, which I partially agree with. You want to buy these during low IV times since an IV drop will hurt your LEAP value. I look at them more as a way to sell calls/puts on a high IV company with a lot of price movement and potential upside/downside.

Advanced Orders

• Guide to several order types: https://us.etrade.com/knowledge/events/webinars/order-types-from-basic-to-advanced-07162019
• One Triggers Other (OTO):
  • Good brokers will allow you to set these up, some will require a desktop to do it. This lets you link one action to another. In programming think of it like an if-then. You’ll tie a buy/sell to another buy/sell
  • Setting trailing stops on options is very chaotic since their price movement can be drastic due to volatility. I prefer to set my trailing stop to a stock.
  • What I like to do is set a trailing stop on a stock (or just link it to a stock price drop) and have it sell 1 share I own. Then it immediately executes a market order to sell my call. I’ve had good luck doing this with incredibly volatile plays were stop losses aren’t effective. I’ll often have an order saved and ready saved for when a strong run up starts. When my price alerts start blowing up my phone, I’ll immediately hit execute to turn it on.

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Disclaimer:
I’m not a financial adviser, I'm actually an engineer. I’m not telling you to invest in a specific stock/option or even use a specific strategy. I’ve outlined and more extensively elaborated on what I personally like. You should test several strategies and find what works best for you.
I'm just a guy who trades (mainly options) part-time for financial gain and fun. I don't claim to be some investing savant.