this post was submitted on 22 Aug 2023
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DRS Your GME

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I wanted to show a few examples with pictures to illustrate how inexpensive it can be to buy 100 votes

I am going to show pictures of each ticker with me going long 100 shares, short a call, and long a put. The call and put will be for the same strike and the same expiration. At the very end will be a summary table of upfront costs, losses/gains, and then some additional comments.

Please note:

  • This assumes no early exercise, which is a risk to this.
  • This assumes what is displayed on the ticket can be filled. Technically, it will not fill as optimally, but the gist of this is the key.
  • This is all based on data from thinkorswim pulled around 11:30am on 3/30/2023.

Examples

TLDR Summary

  • GME: for $2.4k, you can buy 100 votes and you’ll lose is $88
  • Robinhood: for $1.1k, you can buy 100 votes and you’ll gain $13
  • AMC: for $0.7k, you can buy 100 votes and you’ll lose $138
  • Apple: for $16.8k, you can buy 100 votes and you’ll gain $194
  • Microsoft: for $27.4k, you can buy 100 votes and you’ll gain $141

For 5 different tickers, this shows how you can shed some or all of your economic risk and have full voting rights. This is empty voting!

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One share, one vote is not something that is always true. That's a major part of the issue.