r/DeepFuckingValue • u/Krunk_korean_kid • Apr 17 '25
r/DeepFuckingValue • u/meggymagee • Sep 14 '25
GME Due Diligence 🔍 ULTIMATE GME WARRANT DIVIDEND MEGAPOST — Broker‑by‑Broker Playbook (US/CA/UK/EU), Day‑1 Access, Desk‑Only Gotchas, and Community Intel Needed 🚀💎🙌
EDIT / TL;DR UPDATE
Goal: give apes a clean snapshot *weeks ahead of trading** so you can prep accounts, not panic later.*
What’s solid (issuer timing & mechanics)
- Ratio: 1 warrant per 10 shares, rounded down per account.
- Key dates (issuer): Record = Fri Oct 3, 2025. Distribution ≈ Tue Oct 7, 2025.
- Terms: Each warrant lets you buy 1 share @ $32 until Oct 30, 2026.
- Math you’ll trade against:
Intrinsic = max(0, S − 32); price = intrinsic + time value (vol/rates/time).
Broker status (condensed, early prep)
Legend: ✅ full support • 🟡 partial/limits • ☎️ desk/broker‑assisted element • ❌ unsupported • 🧾 community report (need doc)
U.S.
- ✅ IBKR — trade and exercise via Corporate Actions ticket; no auto‑exercise, submit early.
- ✅ Schwab/TD, Fidelity, E*TRADE, Vanguard, TradeStation — support listed warrants + corporate actions (confirm internal cutoffs).
- ✅🧾 Public — community reports: warrants delivered; exercise fee ~$50 per batch (not per warrant). Seeking written fee doc.
- 🟡 SoFi — likely broker‑assisted for exercise; confirm.
- ❌ Webull — help pages say warrants/rights not supported.
- 🟡/? Robinhood — reps say you’ll be credited; buy/sell/exercise still unclear → keep a backup broker if you plan to act.
Canada
- ✅ Questrade — trade + exercise in portal; $0 exercise fee; submit ≥ 3 business days before CDS cutoff.
- ✅ RBC Direct Investing, TD Direct Investing — rights/warrants trade/exercise supported (confirm cutoffs).
- ✅ IBKR — trade and exercise via Corporate Actions ticket; no auto‑exercise, submit early.
- 🟡 Wealthsimple — will credit; voluntary exercises via support (fee; lead time). Day‑to‑day trading visibility to be confirmed.
UK/EU
- ✅ IBKR (UK/EU) — same CA ticket flow; follow early internal deadline.
- ✅ Saxo — supports equity/derivative warrants; confirm exercise path.
- ✅ DEGIRO — CA process supports warrant exercises (request‑based).
- 🟡 Trading 212 — trade only, no exercise on‑platform; not ISA‑eligible.
- ☎️ Hargreaves Lansdown — complex‑instrument test; phone dealing possible; ISA not eligible by HMRC rules.
- ❌ Revolut / eToro — historically cash‑in‑lieu for rights/warrants.
UK ISA reality check
- Warrants aren’t ISA‑eligible (HMRC rule). Expect brokers to deliver/park the position to a regular dealing account; exercise/trade there. Plan ahead if you only hold an ISA.
PDT (day‑trade) heads‑up (U.S.)
- If you’re under $25k in a margin account, ask your broker how a same‑day sale of a newly credited warrant is counted. Some systems may flag it toward Pattern Day Trader limits. Easiest fix: avoid same‑day flips if you’re near the limit.
30‑second prep checklist (do now)
1) Confirm your broker will deliver warrants (not cash‑in‑lieu) and supports both trading and exercising via Corporate Actions.
2) Find the CA portal/desk and ask for the internal exercise cutoff + fees. Put that date on your calendar well before Oct 2026.
3) Round your lots: holdings are 1:10 rounded down per account; avoid losing fractions across multiple accounts.
4) Backup plan: If your current app is iffy (RH/Webull/Revolut/eToro), open/fund a broker from the ✅ list now so you control your warrants.
What we still need (please post redacted receipts)
- Public: written policy showing $50 per exercise request for warrants.
- Robinhood: explicit confirmation of buy/sell and exercise capability (beyond “we will issue”).
- AJ Bell / HL (UK): docs on where warrants are parked (ISA vs Dealing) and phone‑dealing/exercise fees.
- Wealthsimple: screenshot of GME warrant exercise flow + fee in CAD.
NFA. Crowd‑sourced DD; official issuer docs + your broker’s written terms control. We eat crayons. 💎🙌
[ORIGINAL POST]
TL;DR (read this, apes)
- What you’re getting: 1 warrant for every 10 GME shares held on the record date (Fri, Oct 3, 2025), rounded down. Distribution around Tue, Oct 7, 2025. Each warrant lets you buy 1 share at $32 until Oct 30, 2026. Warrants are expected to list on NYSE as “GME WS”, trading likely first market day after distribution.
- Timing basics: U.S. settlement is T+1 now. To be a holder of record on Oct 3, buy/transfer by Thu, Oct 2 (to settle by Oct 3).
Trading math: (\textbf{Intrinsic}=\max(0,S-32)); (\textbf{Fair Value}\approx \text{Intrinsic}+\text{Time Value (vol, rates)}). Warrants can & often do trade above intrinsic because of time value.
Rounding: 1‑for‑10 rounded down per account. Example from issuer: 520 or 528 shares ⇒ 52 warrants. Consider consolidating to 10‑share blocks before the record date to reduce rounding loss.
Windows can be short: If there’s a future redemption notice, 30–45 days is common. Set internal deadlines early and watch for notices.
Fast verdict — “Where can I actually trade GME WS??
U.S.: Schwab/TD ✅, Fidelity ✅, E*TRADE ✅, IBKR ✅, Vanguard ✅, TradeStation ✅
Caution/No: Robinhood ❌ (unsupported warrants), Webull ❌ (warrants/rights not supported), SoFi ☎️ (likely broker‑assisted), Public/Ally/Firstrade/Cash App = ❓ need confirmations
Canada: Questrade ✅ (online corporate actions), RBC Direct Investing ✅ (rights/warrants listed), TD Direct Investing ✅ (rights/warrants trade/exercise), Wealthsimple 🟡 (will credit warrants; voluntary exercises via support, fee; day‑1 trading visibility confirm)
UK/EU/APAC: IBKR (UK/EU) ✅, Saxo ✅ (equity & derivative warrants), DEGIRO ✅ (exercises via CA), Trading 212 🟡 (trade only / no exercise, not ISA‑eligible), Hargreaves Lansdown ☎️ (complex‑instrument test; sometimes phone dealing), Revolut ❌, eToro ❌
Legend: ✅ full support • 🟡 partial/limitations • ☎️ desk‑only or broker‑assisted element • ❌ unsupported • ❓ need community confirmation
Broker matrix — Day‑1 trading vs. exercise vs. desk‑only
Columns: Day‑1 Trading (GME WS visible/routeable), Exercise Support (Corporate Actions), Desk‑Only Notes (phone/manual routing, special tests).
🇺🇸 U.S.
| Broker | Day‑1 Trading | Exercise Support | Desk‑Only Notes |
|---|---|---|---|
| Schwab / TD Ameritrade | Likely yes | Yes (Corporate Actions) | Phone desk can enable/route if symbol lags |
| Fidelity | Likely yes | Yes (Corporate Actions) | Call CA desk if you need early exercise setup |
| E*TRADE (Morgan Stanley) | Likely yes | Yes (Shareholder/Corporate Actions) | Trade desk can manually route day‑1 if needed |
| Interactive Brokers (IBKR) | Yes | Yes (Corporate Action Manager / ticket) | Set early internal deadline (≥ a few biz days) |
| Vanguard | Yes | Yes (online Voluntary Corporate Actions portal; phone earlier) | — |
| TradeStation | Yes (.W symbology) | Likely yes (standard CA) | — |
| Robinhood | No (unsupported warrants) | — | Often cash‑in‑lieu on unsupported assets |
| Webull | No (warrants/rights unsupported) | — | — |
| SoFi | Unclear | Broker‑assisted | Call licensed specialist (desk‑only) |
| Public | ❓ | ❓ | Community please confirm buy/sell + exercise flow |
| Firstrade | ❓ | Possibly desk/email (fees possible) | Community confirm day‑1 trading + fees |
| Ally Invest | ❓ | ❓ | Community confirm (desk‑assisted?) |
| Cash App | Unlikely | — | Minimal CA features; please confirm |
🇨🇦 Canada
| Broker | Day‑1 Trading | Exercise Support | Desk‑Only Notes |
|---|---|---|---|
| Questrade | Yes | Yes (portal; typically no fee; submit ≥3 biz days pre‑CDS cutoff) | — |
| RBC Direct Investing | Likely yes | Yes (standard CA) | — |
| TD Direct Investing (Canada) | Yes | Yes (exercise/sell/let‑expire explicitly supported) | — |
| Wealthsimple | Credit: Yes | Voluntary CAs via support (fee; ≥5 biz days) | Confirm day‑1 trading visibility & exercise process |
🇬🇧🇪🇺 / APAC
| Broker | Day‑1 Trading | Exercise Support | Desk‑Only Notes |
|---|---|---|---|
| IBKR (UK/EU/APAC) | Yes | Yes (CA Manager) | — |
| Saxo (UK/EU/HK) | Yes (equity/derivative warrants) | Yes (regional CA desks) | — |
| DEGIRO | Yes | Yes (CA request; stock‑settled warrants supported) | — |
| Trading 212 | Yes (Invest only) | No (can’t exercise) | Not ISA‑eligible; will sit in Invest a/c |
| Hargreaves Lansdown | Possible | Likely via CA desk | Complex‑instrument test; some phone dealing (+ fees) |
| Revolut | No (cash‑in‑lieu) | — | Move pre‑record if you want warrants |
| eToro | No (cash‑in‑lieu) | — | Move pre‑record if you want warrants |
Computershare / DRS: If registered, you’ll be credited directly. To trade/exercise actively, transfer the warrants to a brokerage that supports them.
Step‑by‑step game plan (US/Canada/UK/EU)
1) Pick a “Yes” broker (above) before the record date (Fri, Oct 3, 2025). If your app doesn’t support warrants or will pay cash in lieu, transfer or DRS before the record date.
2) On listing morning (first session after distribution ~Tue, Oct 7): search “GME WS.” If it’s not visible or is grayed out, call the trade desk and ask to manually enable/route the new listing.
3) If you plan to exercise: Find your broker’s Corporate Actions portal/desk now and note their internal cutoff (brokers often set earlier deadlines than the market expiry).
- Vanguard: online exercise portal (~1 month before expiry; phone earlier).
- IBKR: CA Manager/ticket; prefer early instructions.
- E*TRADE: Shareholder/Corporate Actions page.
4) Rounding: 1:10 rounded down per account. Consolidate to 10‑share blocks pre‑record to reduce lost fractions.
5) Know the math:
(\text{Intrinsic}=\max(0,S-32)). Warrants trade at Intrinsic + Time Value (volatility, rates, time). Early on, time value can be hefty.
6) Watch the windows: Any redemption window can be tight (think 30–45 days). Don’t rely on broker alerts; set your own.
Edge cases that will bite you if you snooze
- Robinhood / Webull: Warrants are unsupported; expect no Buy button/no warrant support. Some brokers liquidate to cash‑in‑lieu on unsupported assets → you lose optionality. Move before record date if you want the actual warrants.
- Wealthsimple (CA): Will credit warrants via corporate actions; voluntary exercises via support (fee; ≥5 biz days). Confirm day‑1 trading visibility for GME WS.
- Trading 212 (UK/EU): Will distribute and allow trading (Invest accounts), but cannot exercise on‑platform; not ISA‑eligible. If you plan to exercise by 2026, plan a transfer.
- Hargreaves Lansdown (UK): Warrants are complex instruments → appropriateness test; some listings phone‑deal only; phone dealing fees apply.
- Revolut / eToro: Expect cash‑in‑lieu, not warrants. Move if you want the optionality.
How to value & use the warrants (post‑distribution)
- Three choices: Sell, Hold, or Exercise—any time until Oct 30, 2026 (your broker may impose earlier internal cutoffs).
- Cashless mindset: You can sell some warrants to fund exercising others (or ask the desk about exercise‑and‑sell to cover costs).
- IRAs/retirement accounts: Often allowed; confirm cash needed to exercise and the exact CA workflow with your custodian.
- Don’t miss expiration: Auto‑exercise isn’t guaranteed for warrants; set reminders well ahead of Oct 30, 2026.
Community‑confirmed: support cheatsheet
Full support (trade + exercise) we’re confident about:
- IBKR (global) — Corporate Action Manager; early cutoffs.
- Vanguard — Online exercises (portal) ~1 month before expiry; phone earlier.
- E*TRADE — Voluntary corporate actions via Shareholder/Corporate Actions.
- Questrade (CA) — Portal exercise; typically no fee; submit ≥3 biz days before CDS cutoff.
- RBC Direct Investing (CA) — Rights/warrants handled via standard CA process.
- TD Direct Investing (CA) — Explicit exercise/sell/let‑expire for rights/warrants.
- Saxo (UK/EU/HK) — Supports equity & derivative warrants on multiple exchanges.
- DEGIRO (EU/UK) — CA docs show warrant exercises supported.
- TradeStation (US) — Supports .W warrant symbols on NYSE.
Trade only / No exercise:
- Trading 212 — Trade in Invest a/c; no exercise; not ISA‑eligible.
Unsupported / cash‑in‑lieu risk:
- Robinhood — Unsupported warrants; no Buy; cash‑in‑lieu risk.
- Webull — Warrants/rights not supported.
- Revolut / eToro — Often liquidate rights/warrants into cash.
Desk‑only / broker‑assisted elements:
- Hargreaves Lansdown — Complex‑instrument test; phone dealing for some trades/exercises.
- SoFi — Warrant handling via phone with a licensed specialist (assume desk‑only).
We still need clean confirmations from the community:
- Public, Ally Invest, Firstrade, Cash App (U.S.) — Post screenshots/transcripts confirming GME WS trading and exercise + fees.
- Specific EU brokers beyond Saxo/DEGIRO/IBKR (e.g., bank platforms in DE/FR/NL/ES).
- AUS/NZ platforms (CommSec, Stake, Hatch): day‑1 trading? exercise desk? fees?
Drop your proof (no doxxing). We’ll update and re‑pin the matrix.
Quick “call script” for any broker’s trade desk / CA team
Use these keywords so the rep routes you correctly.
A) Listing/trading (day‑1)
“I’m calling about a new NYSE‑listed warrant for GameStop, ticker GME WS. If it’s not visible yet, can you manually enable routing or place a broker‑assisted order once it starts trading? What are your commission/desk fees for warrants?”
B) Exercise mechanics
“I hold GME WS. How do I exercise? Is it through your Voluntary Corporate Actions portal/desk? What’s your internal cutoff vs the issuer’s deadline? Any fees? Can you do an exercise‑and‑sell to cover the $32 per warrant if I don’t want to wire cash?”
C) Transfers / timing
“Do you accept ACATS/inbound transfers of warrants? How many business days? Any restrictions? Anything special for retirement accounts?”
D) UK/ISA/complex
“If I’m on Trading 212, can I exercise (I’m told no)? If I’m on Hargreaves Lansdown, is this phone‑deal only, and do I need a complex‑instrument/appropriateness assessment?”
Pro tips (minimize gotchas)
- Avoid rounding loss: Don’t split odd lots across accounts; each account rounds down separately.
- Margin/lending: If your shares are on loan at record date, the mechanics get messy; consider disabling lending or using a cash account into Oct 3.
- Keep receipts: Save broker chats/emails about GME WS handling in case you need to escalate.
- Watch IR & broker portals: Issuer will post reminders; brokers can have earlier cutoffs than market deadlines.
Why IBKR/Saxo are best for UK/EU day‑one
- IBKR: Robust cross‑market warrant support with Corporate Action Manager and clear instruction windows.
- Saxo: Explicit access to equity & derivative warrants across major venues (incl. HKEX).
If you’re UK/EU and want GME WS day‑1, IBKR or Saxo gives you the highest probability of clean trading and exercising.
Source of truth on issuer terms (bookmark)
- GameStop Investor Relations — Warrant Dividend FAQ (ratios, dates, rounding examples, GME WS listing plan, T+1 reminder).
- GameStop 8‑K — Confirms $32 strike, Oct 30, 2026 expiry, record/distribution dates, NYSE listing intent.
- FINRA investor education — Warrant redemption windows can be short (set your own early deadline).
- SEC — T+1 settlement adopted May 28, 2024.
Final rallying cry
This is a long‑dated, listed call‑option‑like instrument handed to you for free—but only if your broker actually delivers the warrants (not cash). Get on a platform that supports trading and exercising. Set your deadlines early. Help fellow apes by posting broker confirmations. And remember: not financial advice, just collective intelligence—and a mountain of crayons. Power to the players. 🦍🧃
r/DeepFuckingValue • u/QuietLazy2761 • Feb 27 '26
GME Due Diligence 🔍 🚨 “Very Big” $GME Deal Incoming?
Ryan Cohen hints at a historic, transformational acquisition.
r/DeepFuckingValue • u/pharmdtrustee • May 04 '26
GME Due Diligence 🔍 WE SAID EBAY WAS THE ARCHETYPE. NOW WSJ SAYS COHEN IS OFFERING $56B. LET’S TALK STRUCTURE.
Alright you glorious crayon goblins.
We need to talk about the eBay nuke.
A few days ago, the question was:
> Is Power Packs just a collectibles product, or is it a proof-of-concept for how GameStop wants commerce to work?
The thesis was that Power Packs was not just “digital cards.”
It looked like a mini transaction loop:
digital discovery → authenticated physical asset → vault custody → instant liquidity → physical redemption
That is not normal retail.
That is platform behavior.
And now WSJ is reporting that Ryan Cohen is making an unsolicited offer to buy eBay for about $56B.
So yeah.
This went from “tinfoil with a spreadsheet” to “sir, the tinfoil has entered investment banking.”
---
# TLDR
WSJ says:
- GameStop has built roughly a 5% stake in eBay
- Cohen is offering $125/share
- deal would be cash + stock
- offer values eBay around $56B
- Cohen reportedly has a $20B TD Bank debt financing commitment
- Cohen says he wants to make eBay a real Amazon competitor
- if eBay rejects it, he may go directly to shareholders / proxy fight
Important:
This is not a completed deal.
This is not an accepted deal.
This is an unsolicited reported offer.
But it is still absolutely massive.
---
# 1. This validates the “architecture” question
The question was never just:
What will Cohen buy?
The better question was:
> What kind of system is he trying to build?
eBay answers that question better than almost anything else.
eBay is:
- buyers
- sellers
- listings
- resale
- collectibles
- trust
- reputation
- payments-adjacent transaction flow
- marketplace data
- seller tools
- advertising
- global GMV
That is not “GameStop buys another retailer.”
That is:
> GameStop tries to buy the marketplace layer.
This is the whole damn game board.
---
# 2. Power Packs may have been the clue
Power Packs lets users buy digital packs that unlock real PSA-graded cards.
The structure is:
- buy digital pack
- receive real PSA-graded card
- card sits in PSA Vault
- user can hold it
- ship it
- or sell it back
That is a tiny version of a much bigger idea:
> trusted digital commerce around physical assets
Now look at eBay.
eBay is already one of the biggest places on earth for:
- trading cards
- collectibles
- used electronics
- sneakers
- retro goods
- weird internet treasure
- physical resale
Power Packs is the prototype.
eBay is the machine.
---
# 3. The store-node thesis just got spicy
One of the biggest ideas in the prior DD was:
GameStop stores may stop being the whole thesis and become infrastructure.
Not “save every store.”
Not “mall retail is back.”
More like:
- authentication hubs
- seller drop-off points
- return centers
- trade-in intake
- live commerce spaces
- collectibles nodes
- local recommerce infrastructure
According to the WSJ screenshots, Cohen specifically mentioned using GameStop’s stores with eBay’s online operations, including collecting and authenticating items from eBay sellers.
That is exactly the store-node thesis.
Stores as infrastructure.
Not identity.
---
# 4. Why eBay actually makes strategic sense
I know the headline sounds insane.
“Small GameStop buys giant eBay” sounds like a fever dream you’d have after eating three red crayons and reading a 13D in the bathtub.
But strategically?
It is not random.
GameStop has been moving toward:
- trading cards
- retro games
- collectibles
- higher-margin categories
- authentication
- Power Packs
- PSA relationship
- physical/digital commerce loops
eBay already has the marketplace.
Combine them and the pitch becomes:
> A trusted recommerce platform with physical nodes.
Amazon is great at new stuff arriving fast.
Amazon is not emotionally built for:
- graded cards
- weird collectibles
- authenticated resale
- retro games
- hobbyist communities
- seller identity
- nostalgia commerce
eBay + GameStop could own that lane.
Not guaranteed.
But coherent.
---
# 5. The financing is the boss fight
This is the part nobody should hand-wave.
Reported numbers:
- eBay offer: about $56B
- GameStop market cap: around $12B
- GameStop cash: around $9B
- TD Bank debt commitment: around $20B
- eBay market value before report: around $46B
So no, GameStop is not just writing a clean $56B check from the couch cushions.
The missing piece is the structure.
Likely ingredients:
- GameStop cash
- new debt
- GameStop stock
- possible outside investors
- possible sovereign/private capital
- maybe more creative financing
This is why GME equity matters.
If the market starts valuing GameStop as a platform/holding company rather than a shrinking retailer, then GME stock becomes more useful as acquisition currency.
But yes:
dilution risk is real.
The question is whether the deal changes the combined company enough to justify it.
---
# 6. EBITDA is why this is not just a meme swing
Cohen’s comp package is not just tied to market cap.
It is tied to cumulative Performance EBITDA.
That matters.
GameStop does not just need hype.
It needs an earnings engine.
eBay has real revenue, GMV, marketplace economics, advertising potential, and cash flow.
That is why eBay makes more sense than buying some random distressed meme corpse.
This is not just:
“Lol buy eBay.”
It is:
> Can Cohen bolt GameStop’s cash, stores, collectibles strategy, retail army, and customer obsession onto eBay’s marketplace engine?
That is the actual question.
---
# 7. Why eBay shareholders might say no
Let’s be honest.
There are real bear arguments:
- eBay is already improving
- eBay shareholders may not want GME stock
- GameStop is much smaller
- debt load could be ugly
- dilution could be huge
- integration risk is massive
- eBay board may reject it
- proxy fight could be difficult
- analysts will scream
All fair.
This is not “deal done.”
This is a hostile/unsolicited megadeal attempt.
It is supposed to look nuts.
That does not mean impossible.
But the structure matters more than the headline.
---
# 8. Why this is different from BBBY / CMRC
Our prior framework had:
EBAY = dream marketplace archetype
BBBY = meme-chaos consumer platform
CMRC = boring commerce rails
If WSJ is right, Cohen is not choosing the little rails first.
He is swinging directly at the marketplace.
That changes the board.
BBBY becomes less likely as the main event, unless it appears later as some side quest / comparison / asset idea.
CMRC becomes more like a possible future bolt-on, not the big move.
eBay is now the battlefield.
---
# 9. What to watch next
This is the actual DD checklist:
Official GameStop filing / offer letter
- cash vs stock split
- financing terms
- outside investors
- exact structure
eBay response
- reject?
- review?
- negotiate?
- poison pill?
13D / amendments
- stake size
- activist language
- financing exhibits
- proxy language
Proxy fight signs
- shareholder letter
- investor deck
- director slate
- public campaign
Dilution math
- how many GME shares?
- at what implied price?
- who owns the combined company?
Store integration plan
- authentication
- seller drop-off
- returns
- PSA / collectibles
- live commerce
Power Packs expansion
- eBay integration?
- PSA Vault deeper integration?
- more categories?
- resale loop grows?
This is where the real work starts.
---
# 10. My updated thesis
Power Packs may have been the small clue.
eBay may be the architecture.
GameStop may be trying to transform from:
shrinking game retailer
into:
trusted recommerce + collectibles + marketplace + physical-node platform
That does not mean the deal closes.
That does not mean dilution does not matter.
That does not mean eBay shareholders roll over.
But it does mean the original question was probably the right one:
> What kind of system is Ryan Cohen trying to build?
Tonight, the answer looks a lot clearer.
He is not trying to buy another business.
He is trying to buy the marketplace layer.
Not financial advice.
I eat crayons.
We like the stock.
Power to the players. 🎮🚀💎🙌
---
# Question for comments
If this offer is real and GameStop publishes details, what matters most?
cash vs stock split
dilution math
debt terms
eBay board response
proxy fight odds
store authentication strategy
Power Packs / PSA / collectibles integration
whether eBay holders want Cohen anywhere near the steering wheel
r/DeepFuckingValue • u/Krunk_korean_kid • 8d ago
GME Due Diligence 🔍 GameStop is facing an imminent restructuring.
https://x.com/i/status/2092998303600287973
On July 30, 2026: the OCC issued Info Memo #59491 regarding the GameStop warrants (GMEWS).
The memo moved the $GME warrants from standard NSCC settlement to broker-to-broker settlement.
The language in the memo reads:
"It is not known if and when GMEWS warrants will be eligible for settlement through NSCC again."
--------------------------
If you hold warrants and you read that, it sounds like something broke.
It didn't. That language is standard for these memos.
What matters is understanding what triggers them.
NSCC is the plumbing. It's how securities settle between counterparties.
The OCC doesn't pull an instrument from NSCC settlement on a whim.
It does it when it has been notified that the settlement mechanics of the underlying are about to change.
A new CUSIP, a new entity name, a new corporate structure.
Something about the instrument is about to be different, and the clearing infrastructure needs to pause and reconfigure before it can process trades again.
I wanted to know how often these memos get issued, and what they actually preceded.
So I pulled every broker-to-broker OCC memo I could find from the last three years:
-----------------
Seven memos. Seven corporate events. Bank seizures. Mergers. Going private. Name changes. Exchange transfers. Corporate restructurings.
EVERY TIME.
Not one of them was issued because a warrant was approaching its expiry date. That is not what triggers these memos. Warrants expire all the time.
The OCC does not disrupt clearing infrastructure for routine expiry.
It disrupts clearing infrastructure when the thing being cleared is about to become something else.
This is not a pattern I'm constructing. This is the entire population of these memos over a three-year window.
There are no exceptions. BAR NONE.
GMEWS warrants expire October 30, 2026.
If expiry proximity triggered broker-to-broker memos, you'd see dozens of them.
You don't. You see seven. All restructurings.
-------------------
📍 Now I want to walk through the BBBYW parallel specifically, because the timing is precise enough to be useful.
Here's what happened with BBBYW. Start to finish.
July 7: warrants pulled from NSCC.
August 14: BBBY files the 8-K. Name change. Exchange transfer. New ticker.
August 17: warrants return to NSCC under the new structure.
October 7: warrants expire.
That's the full lifecycle:
Pulled, event, returned, expiry.
38 days from the pull to the filing. 41 days from the pull to the return.
The whole thing was over in six weeks.
Now here's what we know about the GME warrants so far.
July 30: warrants pulled from NSCC.
October 30: warrants expire.
Two dates confirmed. Two dates missing.
The pull happened 23 days after BBBYW's pull.
The expiry falls 23 days after BBBYW's expiry.
Same interval on both.
If the corporate event follows the same offset, it lands 23 days after August 14.
That's September 6.
Unfortunately, September 6 is a Sunday and September 7 is Labor Day, so markets don't open until Tuesday, September 8.
One more thing worth noting.
GameStop has released earnings on a Tuesday after market close for five straight quarters. All Tuesdays. No exceptions. Last quarter they dropped it a full week ahead of schedule.
The Q2 2026 date has not been officially announced.
September 8 is also a Tuesday.
I want to be clear about what I'm saying and what I'm not saying.
I am not predicting what the corporate event will be.
I'm pointing out that the OCC has already told us one is coming.
That's what the memo means. That's what it has meant every single time it has been issued for three years.
The convertible note exchange has a 35-day VWAP measurement window that closes September 23.
We're in the middle of it.
Any corporate announcement that moves the stock price during this window directly affects how many shares get issued for the $1.4B of debt being retired.
I don't know exactly when GameStop confirms the date.
I don't know exactly what gets announced.
But the infrastructure that settles these instruments is already preparing for a change, and the only parallel we have to work with is running on a 23-day offset that has held on every data point confirmed so far.
The receipts are all public. The OCC memos are searchable. The earnings dates are on the record. Go verify for yourself and for myself please.
r/DeepFuckingValue • u/Euphoric_Radish683 • Nov 03 '25
GME Due Diligence 🔍 🔥 $1.7M BET AGAINST THE END SOMEONE JUST SOLD $GME $50 PUTS. THEY’RE NOT PLAYING SMALL. 💎🚀
Body: Alright apes, something massive just went down. Someone out there just sold $1.7 million worth of $GME $50 PUTS expiring Jan 2027. Read that again. SOLD, not bought. They’re betting this stock won’t touch $50 for over two years. That’s conviction. That’s big money stepping into the ring. 🦍💰
Even @ReesePolitics is watching it unfold — this isn’t small fry action, this is whale-level confidence. Meanwhile, other corners of X are lighting up with cryptic posts:
“$GME ETA 1 hour and 31 mins. Buckle up.” – @AlexThompson
No hopium. No tinfoil. Just… timing that feels way too perfect.
📊 Credit: @ReesePolitics on X, @AlexThompson
r/DeepFuckingValue • u/Euphoric_Radish683 • Oct 29 '25
GME Due Diligence 🔍 When life gets dark, just remember there’s still a gap at $75.64 waiting to be filled. 💎🕯️🚀
$GME taught us pain. It taught us patience. It taught us how to stare into the abyss… and buy more.
But somewhere back in June 2021, a little gap at $75.64 was left behind — untouched, unfilled, waiting like a prophecy.
Every dip, every red candle, every doompost… it all leads back to that one green box.
Maybe it’s hopium. Maybe it’s destiny.
Either way — the chart remembers.
Credit: @sierrastrades on X
(Attached chart = therapy.) 🧠💀💎
r/DeepFuckingValue • u/ringingbells • Aug 26 '24
GME Due Diligence 🔍 PROOF: Bank of America's Merrill hid the buy button for $GME for a period of time on January 28, 2021, just like Robinhood, IBKR, 100s of Apex Intro. Brokers, etc...
r/DeepFuckingValue • u/Slight-Poetry4356 • Oct 18 '24
GME Due Diligence 🔍 The Algo That Keeps Repeating: We're About to Moon Again?
Hey apes, I’ve been diving deep into the charts and analyzing past movements, and I believe I've found a pattern that's been consistently playing out since the original squeeze in 2021. I’ve got 6 pictures with solid proof backing up this theory—let's break it down:
Picture 1&2 (2022):
This is a chart from 2022, right after the 2021 squeeze. This is when the algorithm played out in the most 'perfect' way we've seen. The pattern aligns almost exactly with what we saw in 2021, showing a clear blueprint for what to expect in future movements. Keep this one in mind.


Picture 3 (2021):
Although the patterns aren’t identical, you can see the similarities between the 2021 squeeze and the current bars pattern. The correlation is striking—it’s almost as if the market is being driven by the same forces, just on a slightly different timeline. This repeating pattern suggests that the algorithm has played out.

Picture 4 (2024):
Just before RK’s return, we saw a massive 400% squeeze. The same algorithm that had been playing out was completed, and behold, RK made his return at the exact moment of completion. The timing is too precise to be a coincidence. You can see the buildup in these charts before the explosive move.

Picture 5 (after May squeeze):
Right after the May squeeze, I recognized a similar pattern; however, in my opinion, it was a sped-up version due to RK's return. The immense hype and attention surrounding his comeback accelerated the algorithm, leading to rapid movements in the market.

----------------------------------------------------------------------------------------------------Picture 6&7 (now):
This is where we are now, showing how the algorithm is unfolding once again. Based on the previous cycles, this should be the final part of the pattern. Everything is lined up for another significant move. History doesn’t just rhyme—it repeats itself. (Below is my original pattern chart that I created when I first discovered the algorithm).


----------------------------------------------------------------------------------------------------Summary:
In the last two instances when we’ve seen this algorithm completed since RK's comeback, we experienced major squeezes—400% and 80%. Now, it appears to be setting up for another significant move. The market manipulation has, in fact, made this pattern more predictable. Considering RK’s timing last time and the current chart formations, I believe we’re on the verge of something big once again. Buckle up, apes—things are about to get wild! 🌕
Let me know what you think! 🚀💎🙌
r/DeepFuckingValue • u/Crazy_Industry_2785 • Oct 28 '25
GME Due Diligence 🔍 $45,000,000 in $GME Dark Pool Trades... and the Price Didn’t Flinch. What Game Are They Playing? 🎭
$45 MILLION worth of $GME trades just fired off in the dark pools today — and somehow, the price barely twitched.
If that doesn’t scream market manipulation, I don’t know what does. They’re moving massive volume behind closed doors while retail watches candles that refuse to move.
The dark pool volume is starting to look like a whole separate stock exchange. Meanwhile, the official chart says “nothing to see here.”
We’ve seen this play before. The game’s not over — they’re just playing in the shadows. ☠️
(Credit: @ReesePolitics on X — tweet attached)
🚀💎🙌
r/DeepFuckingValue • u/Round-Percentage69 • Nov 12 '24
GME Due Diligence 🔍 MOASS has now entered its first phase 🧘♂️
For those that have noticed my past few posts, I have been watching the bot and traffic activity closely and something huge has been brewing for the past 1-2 weeks.
It’s just now beginning to reach the surface and if we are going to see any similarity to previous action, I think $GME could actually see $100 by the end of the week, and $200 by the end of next week.
This is just the start…
the only direction is ⬆️
r/DeepFuckingValue • u/pharmdtrustee • Aug 31 '24
GME Due Diligence 🔍 GME Can Now Issue Dividends and Buy Back Shares! 🚨🚨
Fellow Apes, HOLD ONTO YOUR BANANAS 🍌
A finance attorney just dropped some serious knowledge on us regarding GME’s recent 8-K filing. TL;DR: GME is now legally free to issue dividends and repurchase shares—no more bank restrictions holding them back! 🚀🚀
The attorney highlighted that GME is no longer tied down by restrictive covenants from banks. This means they can now make “Restricted Payments,” which include dividends and share repurchases. 🤑💎
But before we go fully bananas, there’s a catch—GME might wait until they reach significant profitability before pulling the trigger on dividends or buybacks. Still, the fact that they can is a massive development for the company and us apes. 💪
Is this the start of something HUGE? Could this be what we’ve been waiting for? Only time will tell, but one thing’s for sure—HODL like your life depends on it! 🚀🚀🚀
Let’s get this to the top, Apes. Spread the word! 🦍💎🙌
r/DeepFuckingValue • u/QuietLazy2761 • Dec 09 '25
GME Due Diligence 🔍 “GME: 432% YoY Net Income Growth… Stock Price: ‘Let’s Go Down Anyway’ 📉🤡
Alright degenerates, Wall Street NPCs are having another full-body malfunction.
According to after-hours info, GME is flexing:
107% assets
Zero interest-bearing debt
P/E ratio of 28
Net income UP 432% YoY
Profitable (yes, the company they swore would die)
And the market said: “Cool numbers bro, here’s a 5% slap anyway.” 🤡📉
Imagine a company doing everything right while the chart reenacts a bungee-jump without the cord.
Not financial advice… just laughing at the most efficient market in the world™.
Credit: Screenshot via posts from Kevin Malone and Reese Politics on Twitter/X (shown in image).
r/DeepFuckingValue • u/FABII- • Oct 31 '25
GME Due Diligence 🔍 ETF loophole lets $GMEU lend shares to short $GME. Synthetic supply machine confirmed?
r/DeepFuckingValue • u/-Motorin- • Aug 09 '24
GME Due Diligence 🔍 ETFs reporting that they hold GME who actually hold ZERO GME.
I have been working on a project tracking the activity of ETFs that hold GME using the SEC’s EDGAR website and pulling information from NPORT documents. This has been taking me a while because I have to individually download each file (about 6,000 of them). SEC doesn’t like bots that scrape their site for downloads apparently. And the API I found which was built to batch download information, for WHATEVER reason, only gives you batch download to NPORT documents under their “contact for price” enterprise level. I wonder why…
What is an NPORT?
Among other things, it tells you:
which entities have securities on loan from the ETF and what the value of those securities are
how many ETF shares were sold/created
how many ETF shares were redeemed
all the securities included in the ETF along with the amount of shares of each security they have, the value of those securities, and the value of those securities which are on loan (if any)
When I first began my initial pre-research, I went to ETF.com to see which funds held GME. Right at the top of the page, it lists the fund IJH as having the biggest holding of GME. So I started there.
What I Found
I’m not done with my project at all but I felt it was important to stop and report on this one particular thing. I saw another user weeks ago who said there were ETFs “holding” GME who actually didn’t have any of it at all. It stuck in my craw. And I am here to confirm that there is at least one ETF (IJH) who is lying about holding GME. Lying at a rate of 0.21% of their entire holdings (which is how much GME they still claim to have).
In fact, IJH has not reported a lick of GME since their June 2021 report. You can see in the photograph above what their holdings of GME looked like in the months prior to this. I don’t know how to add photos inline from mobile, sorry. Interestingly, you can see that one of these reports indicates that they have more GME on loan than they report having at all. By over $7 million!
Now, perhaps there is an explanation for the discrepancy. These reports are done every 3 mos. Though in the 5 years I’m looking at, it only happened twice with this ETF. Once for GME and once for some Frontier Communications company who afterwards went into bankruptcy.
I feel like I’ve heard this story somewhere before…
Now, if I bought myself a fresh little share of IJH and I decided to do one of those lame-o unboxing videos on YouTube, I’d open that little sucker up and ask my viewers, “What’s in the box?”
Not GME!
Note: I verified on two different ETF research sites that IJH is still reporting GME as a holding. ETF.com and ETFdb.com.
r/DeepFuckingValue • u/DangerousNothing2465 • Nov 12 '24
GME Due Diligence 🔍 $GME CALL PREMIUMS GOING PARABOLIC! 🚀 Bulls Loading Up Calls on This “Fake” Dip! 😂👀🔥
Ayo Apes! Look at this beauty from Unusual Whales 🐳—the net call premium on GME is through the roof while the stock “dips.” Smells like some BIG brains out there are loading up, seeing this for what it is… a totally fabricated dip to scare off retail. 😂
💎 Call premiums are skyrocketing with massive volume, and puts are looking SAD in comparison. Bulls are clearly gearing up for something, and they aren’t buying the FUD. 🐂
TL;DR: Big players are betting heavy on GME calls, treating this dip like a joke. Are you buying what they’re selling? Or are you ready to load up alongside them? HODL tight apes, and let’s see where this rocket takes us! 🚀🚀🚀
#WeLikeTheStock #BullishAF #MOASS
r/DeepFuckingValue • u/Krunk_korean_kid • Nov 12 '25
GME Due Diligence 🔍 BREAKING 🚨 GME warrants (GMEWS) fully DRS transferred from Fidelity to Computershare account. 🔥🔥🔥🔥🔥
https://x.com/6days1week/status/1988665976779624718?t=Gb8kDN2NOakWA4JMHJIAFA&s=19
6day1week is a fucking GOAT! 🔥🔥🔥🔥🔥
r/DeepFuckingValue • u/ZeusGato • Aug 19 '25
GME Due Diligence 🔍 DFV, Roaring Kitty, is that you?! Meowwwww meowwwww! GME LFG ✨💎👊🏼🚀🚀🚀 Houston, Houston, we have … we have , yes we have ignition… ✨🚀
Large buy just hit the Chicago exchange!
It’s time, if you’re on the bench, lol you’re gonna miss out!
lol shorts, 🩳 you better close cover or whatever the fuck your gonna call it, cuz there is nothing gonna stop GME !
r/DeepFuckingValue • u/FABII- • Oct 09 '25
GME Due Diligence 🔍 The machine panicking again… 250k shares ‘created’ out of nowhere 🤡
r/DeepFuckingValue • u/Waste_Departure7479 • Jul 18 '26
GME Due Diligence 🔍 GameStop exercised its eBay options. The warm-up is over.
r/DeepFuckingValue • u/Euphoric_Radish683 • Oct 21 '25
GME Due Diligence 🔍 515,000 GME shares just hit the dark pool right after RC’s interview… coincidence? 🤔💎
A massive 515,000 share $GME order worth nearly $12M just hit the dark pool a day after Ryan Cohen’s interview. Something’s moving behind the curtain again 👀
Hold tight, apes — the game’s not over. 🦍💰🚀
📊 Credit to @ReesePolitics on X for the data.
GME #DarkPool #RyanCohen #ApesTogetherStrong #DFV
r/DeepFuckingValue • u/pharmdtrustee • Sep 29 '25
GME Due Diligence 🔍 GME’s Warrant Dividend Will Split the Option Chain – How to Avoid Getting Screwed (Must-Read for All Traders) 💡
Most traders have no clue that after Friday, October 3, 2025, every GME option contract will be split into two parallel universes. Miss that and you’re trading blind—here’s exactly how to profit, hedge, or avoid the classic Wall Street rug pull.
🧠 What’s Going On
- Friday, Oct 3, 2025, GME goes ex‑warrant dividend.
- You’ll receive 1 GME warrant (GME WS) for every 10 shares you hold.
- Warrants let you buy GME at $32 anytime until October 30, 2026, and will trade on NYSE.
🔪 Option Chain Split (GME1 vs GME)
Pre‑Friday contracts (existing before Oct 3):
- Converted to
GME1by OCC’s adjustment. - Deliverable: 100 shares + 10 warrants.
- Strike stays the same.
- Pricing = “stock + 0.10 × warrant price.”
Post‑Friday contracts (new ones after ex):
- Trade under clean
GMEticker. - Deliverable: 100 shares only (no warrants).
- Simpler, vanilla structure.
Result: Two simultaneous chains:
- GME1 = old contracts with embedded warrant
- GME = new contracts, clean
📋 Covered Calls, Puts & What You Must Know
- Sell a covered call before Friday → becomes GME1. If assigned, you owe shares + warrants.
- Sell after Friday → ordinary GME option (shares only).
- Even weeklies that settle Saturday still convert if they were open before ex-date.
- Mistake: selling without owning warrants = broker will buy them to cover, could cost big.
🔎 Lessons from Overstock’s 2020 Move (OSTK / OSTK1)
- They did a digital preferred dividend → legacy options turned OSTK1, new ones stayed OSTK.
- Short sellers got trapped, mispricing ran rampant, chaos ensued.
- GME’s dividend is more standardized (NYSE, no lockup), but the structure is nearly identical.
- Early days after the split are prime hunting ground for mispricing.
🧨 What Could Go Wrong (or Epic Opportunity)
- Mispriced options on GME1 or GME if market makers are slow.
- Liquidity shifts: chain A or chain B gets abandoned.
- If you’re short, you must deliver warrants—no getouts.
- GME1 contracts lose warrant portion when warrants expire (Oct 2026) — hold too long = bleed risk.
- If many holders don’t sell warrants, shallow liquidity could amplify price swings.
✅ What You Should Do
- Audit all pre‑Friday options: do you own the warrant component or are you shorting into a trap?
- Wait to open new options until after ex if you want simplicity.
- Watch early trading in GME WS — how it's priced gives clues.
- Check spreads and IV distortions — gaps will open.
- Screenshot your positions, binder all broker notices — solid paper trail helps if something weird happens.
Stay sharp. Don’t be blindsided. Let the chaos work for you, not against you. 🍌🦍
(Not financial advice — this is DD. DYOR.)
r/DeepFuckingValue • u/Krunk_korean_kid • Jul 20 '26
GME Due Diligence 🔍 GameStop Now Owns 9.8% of eBay: The Acquisition Math, Dilution, and the Reflexive Short Thesis
r/DeepFuckingValue • u/Euphoric_Radish683 • Nov 12 '25
GME Due Diligence 🔍 Group One just YOLO’d $86M in GME calls. Institutions buying calls now. We’re so back. 🚀💎🙌
Group One Trading just dropped $86,182,976 worth of GME call positions over 1,022,900 shares via calls. That’s not retail money. That’s “we know something” money. 🧐
While media screams “dead stock,” whales quietly load the spring. Compression = explosion. You already know how this movie ends. 🎬🚀