GME PUTs on sale!
GME creates a buy-back scheme to keep share price propped up, is not going to work. IMO It appears they are using the Simply Mac money to buy back shares in hopes to manage the price, instead of paying the normal dividend. To me, this is the nail in the coffin. In this 1hr chart, we see an indecision Doji at the open and then descending volume as SPY was strengthing (indicated by the orange line). When the first level of support fails ($5 area) then it will begin to fall to sub $4 levels. $5 strike PUTs were too cheap to pass up. My only concern is liquidity when it starts to plunge further into the ibis. Alsocelarrejection off the VWAP and 50 day EMA.
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