>>553884
dont quote me on this because i dont know the full details since my broker in europe doesnt offer "options"
but essentially at the end of every week options expire
the good ones are called CALLS so im gonna focus on that
a call contract is when an autist decides weeks/months in advance that stonk X will reach price Y by date Z
calls are always meant to expire at the end of the week so on friday closes
there were a ton of calls for today with strike prices from all the way down at a few bucks to 500$ or so
but certain price targets had a lot of these contracts, 320$ had like 12k contracts
so if those contracts werent CONSOOMED so far, they automatically get consoomed because they expire and i think, again dont quote me on this, i think the people who had them get like 100 stonks of this because their strike price hit + cash difference
or they can cash them out
but nobody is fucking selling, its all holders
same thing happened last friday, but with smaller price targets surely and that caused THIS on the next monday
open well, PUMP, huge peak that was like double the all time high, and then dump
and the days after monday... well you know the story from reddit it kept fucking going up
i think next monday will be the same but im not sure about the rest of the week
>>553885
takes long to write down shit i only 80% understand