my mother asked what happened to that stock I'd mentioned losing money on last month. sweet of her to remember. terrible for me to have to explain.
so I tried. reached for a rubber band analogy to explain a gamma squeeze, options market makers hedging their exposure, dealers getting forced to buy as the stock climbs, the whole thing. and somewhere around the middle of my own explanation I completely lost the thread. the rubber band went nowhere. I confused myself. we were both worse off than before I opened my mouth.
she nodded politely, the way you nod at someone clearly drowning, and asked if this was "like the GameStop thing" she saw on the news that one time.
I said yes. mostly to end the conversation with some dignity intact rather than because it was fully accurate. she seemed satisfied. I was not satisfied. I still can't explain a gamma squeeze and now my mom thinks she gets it better than I do