SOME DEEP ITM CALLS WERE BOUGHT TODAY: THE FINAL HURRAH
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| Author       | Source       | 
| :-------------: |:-------------:|
|  [u/Dan_Bren](https://www.reddit.com/user/Dan_Bren/) | [Reddit](https://www.reddit.com/r/GME/comments/mmjy19/some_deep_itm_calls_were_bought_today_the_final/) | 

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[DD 📊](https://www.reddit.com/r/GME/search?q=flair_name%3A%22DD%20%F0%9F%93%8A%22&restrict_sr=1)

Hello you goddamn beautiful ~~people~~ apes,

[u/dan_bren](https://www.reddit.com/u/dan_bren/) back with the late night special edition. Wanted to provide you all with an update on our situation. A small amount of DEEP ITM calls were bought today. Shown below

[![r/GME - SOME DEEP ITM CALLS WERE BOUGHT TODAY: THE FINAL HURRAH](https://preview.redd.it/27ua8vqjmvr61.jpg?width=1218&format=pjpg&auto=webp&s=52af84f7382502188576d704803f4efcedf6d5a7)](https://preview.redd.it/27ua8vqjmvr61.jpg?width=1218&format=pjpg&auto=webp&s=52af84f7382502188576d704803f4efcedf6d5a7)

GME Biggest Trades 4-7-2021

12:47pm 550 $12 calls were bought for 167.95 ($16795) each = $9,237,250

12:49pm 550 $12 calls were traded (VERY likely sold) for 168.50 ($16850) each = $9,267,500

For starters I want to point out that this is an incredibly small amount relative to the DEEP ITM call buying we saw back in early April.

[![r/GME - SOME DEEP ITM CALLS WERE BOUGHT TODAY: THE FINAL HURRAH](https://preview.redd.it/yua35eqlmvr61.jpg?width=1222&format=pjpg&auto=webp&s=56846474c85b772f6803299beaa243029d728bc7)](https://preview.redd.it/yua35eqlmvr61.jpg?width=1222&format=pjpg&auto=webp&s=56846474c85b772f6803299beaa243029d728bc7)

GME Biggest Trades 4-4-2021

Take a look at April 4th where nearly 6x the DEEP ITM calls were traded. Many people in the comments ask how we can know that this is always the same people and a few things make this quite clear. For starters these block trades are all coming out of the same PHLX exchange, this is the first indicator. The second indicator is the rarity of the specific option that is being traded. An option that is $160 deep into the money when the price of the stock is only $180 is absurd. This is an option that theoretically would otherwise never be traded. For reference on another ~$200 stock such as Disney you aren't even able to trade anything below the $95 strike price. This can only be them.

So what about DTC 005

This is where it gets a bit confusing. I'm not going to pretend like I entirely understand the inner workings of this but I will continue to research in my free time. A smart ape reached out to me and here was his explanation.

[![r/GME - SOME DEEP ITM CALLS WERE BOUGHT TODAY: THE FINAL HURRAH](https://preview.redd.it/nkiv6xgomvr61.jpg?width=647&format=pjpg&auto=webp&s=40ec4dad0039ad3e2ecbaecbb3357502c79d8d13)](https://preview.redd.it/nkiv6xgomvr61.jpg?width=647&format=pjpg&auto=webp&s=40ec4dad0039ad3e2ecbaecbb3357502c79d8d13)

"The Last Hurrah"

He goes on to say "the DTCC didn't have a notation in their books that showed which shares are the result of rehypothecation. As a result, every share that ran through the system prior to the rule going into effect is non-notated. Therefore, following the letter of the law, the HFs should be able to reset their FTDs one last time. When they reset this time all of those shares will remain in their account and will be notated/unable to be rehypothecated."

I've got some red crayons calling my name. [u/dan_bren](https://www.reddit.com/u/dan_bren/) out.

TL;DR: A small amount of DEEP ITM calls were bought today. This could be some of the last attempts by HF's to reset FTD's before the new rule logs and tags the movement of shares.
