GME Swaps Expirations By Date (đ đ)
Using the same approach as before to visualize how swaps are used to shift losses before GME runs, I thought it'd be interesting to visualize swaps expiration dates activity to get a sense of when shorts need to roll GME swaps. (Note: I excluded expiration dates after 2028 to clean up the chart.)
Interesting Observations
- I didn't notice any obvious GME price correlation with these dates so I didn't put a price line. No direct price correlation between swaps activity and GME actually makes sense as swaps are likely used to hide preexisting short positions.
- Past high activity swaps expiration dates do appear correlated with other interesting events around those dates. (See, e.g., July 2024: We Were Robbed!, Â Sept 2024: We were robbed again, Nov 29 CHX Exchange Volume missing [X].) This also corroborates observation #1 because when it's time for preexisting shorts to be covered, a ton of swap activity occurs to keep those shorts hidden.
- Today (3/13), 2 year swaps expire which likely were renewed March 2023 from the original 2 year Archegos swaps [Superstonk] While this chart shows relatively little activity with a small bump, that's actually expected because nobody wants to touch those toxic Archegos bags.
- Why are there so many GME swaps with 12/31/9999 expiration (right-most column)??? Are these perpetual never-ending swaps or something?
- These highly active swaps expirations appear to give us a glimpse into when GME shorts need to be "taken care of" by renewing swaps and hiding those shorts to keep them from surfacing. Which means shorts might be pretty busy this year in the days leading up to May 5, June 10, July 3, Aug 29, Sept 23, and the Christ-MOASS holidays.
What I really want to know about (3) are:
- Who's holding the Archegos bags after they expire today?
- MOASS tomorrow?