$GME leaning more and more towards writing deep ITM covered calls on a tender induced squeeze. Example...tender offer at $20/share, but price surges to ~$50 that day/the following days due to supply/demand imbalance (brokers recalling the obscenely large amount of hypothecated shares from the shorts forces the bid to continuously crush the float constrained ask)... let's assume a ~doubling of implied volatility that accompanies the event. If you're like me and have shares located in a tax advantaged account, you could sell ITM covered calls to reap excess returns over and beyond the squeeze price. Let's say that when price hits $50 on this theoretical squeeze the IV hits 300% ... Sell the ITM covered call at the tender offer price vs. selling the shares outright. As shown in the photo, on the Jan21 $20C the theoretical price would've jumped to ~$37/contract with ~100 days to expiry. This would allow you to lock in an incremental ~14% return ($57 vs. $50).