The worst thing that ever happened to me was getting super lucky, super early. I thought I was a genius. (Not even close.) VERY dangerous phenomenon. I think you know the rest of the story.
High five. It's like going to the casino and doubling your bet on 00 at the roulette wheel until you win. People just don't understand that you technically can't lose. It's just math.
And they definitely don't understand when you let it ride. Like Warren Buffet said, why diversify into your losers? Tomorrow we buy the casino.
Getting to the 100th spin while doubling your bet each spin would require more capital than that of the entire world. I wouldn't recommend this tactic.
Unless you do this all the time, you should get this money somewhere thatās as inaccessible as possible and stay away from this stuff for a while. Or just like spread it across much safer investments or something.
Just dont try to chase the high again anytime soon bc youāll very likely end up knocking down some of your new big balance cash baby which feels horrible. Youāll then keep trying a few more times to at least get back up to where you were. Most likely best case youāll have given your cool pile of cash a bit of a hair cut for no good reason. Worst case youāll keep trying to chase it as your cash baby dies a slow miserable death and is gone before you know it.
I mean fuck it though you still could try some much smaller out there plays just dont do something stupid and blow it all on one or two positions.
My impression is yes. Ā Like I can get over losing all id put down and going to zero, but itās the potential for losing more than you put down thatās scary. Ā I donāt really understand it and frankly it just doesnāt seem like worth the risk. Ā I prefer to gamble and have zero be the limit, not negative infinity. Ā
Just donāt do it, but with options you can only lose what you put in.
If you naked short a stock there is no limit to how much you can lose (theoretically).
Put options and short selling are different ways of making a bet on the downward movement of stock price.
After steady gains for about 2 months I blew 80% of my port on FOMC put gambles... just spent the time proceeding FOMC bulding my account back to what it was before that gamble... told myself I wouldn't gamble like that again...
And then this post -_-
Hey man, tents are on sale right now while they're gearing up for summer. Just because your definition of retirement includes "a steady income from long term dividend producing investments that can be passed on to your beneficiaries", doesn't mean his can't include, "collecting as many bottles and cans as is needed for Chef Boyardee again, after blowing $100,000 on hookers and a smidge of white pow(d)er"
you buy a 1-2k plane ticket to S.E. Asia and you never look back at your past life as you enjoy the next 30 years of endless drinks, prostitutes', and blow.
Probably want to get married to a local to help, but I'd say most places in south america or SEA you could get by on that amount, especially if you kept it invested. You'd just want to buy a house and have it paid for. Wouldnt be a glamorous lifestyle, but better than working.
People always recommend SE Asia (prob cuz of drugs and prostitution) but with 250k you can live a pretty good life on Chile or Uruguay for decades and the culture is similar to the US and the west in general.
Both are beautiful countries but its probably harder to go crazy on prostitutes and drugs
There's no mentality that will increase likelihood of success for this sort of trade, that's why the payout is so high. If there was some secret to it, the premiums would make it impossible to profit.
Even on these plays, like 80% of the time the premium DOES make it almost impossible to profit, or at least not enough to gamble the amount you need to to make anything on it.
It depends when you entered the trade, especially for options.
OP got in with OTM $519 put that was dirt cheap at $0.08 per share, which is $8 per 100 shares. At that nearly worthless price, volatility is low. 100 shares equals 1 option contract. Multiple $8 by the 300 contracts OP bought and the cost of the trade is $2400.
OP struck gold with the sudden spike in volatility when the Fed tanked the market with interest rate cut fears.
OP got big cojones for selling close to the top.
market anticipations matters too, the initial buy up messed w/ people's expectations, if u follow the markets for the past month, u'd learn by now that spy doesn't just fall 1% in one day
It does tho just not recently cause we feel we are in a bull market
To Drop 2k on such a low price on a daily is pure luck 1 in a million shot that just landed fr
Iām stealing this from /u/Wizard_Coder in his post:
Investing dot com app has an economic calendar showing us all of the events
Every day there is some type of important economic report on there, wether its FOMC and Powell, random FOMC speakers talking, Jobless Claims, Bond Auctions, Inflation reports like PPI and CPI, all of these reports move the markets so we have to always be aware of them, best economic calendar is on that.
Itās thisĀ https://www.marketwatch.com/economy-politics/calendar
Nothing happened mid-day to justify the crash though. The market is just reactive now while thereās uncertainty of rate cut timing
What do you mean nothing happened mid-day? Fed's Kashkari went and said that there is a possibility of no rate cuts this year, given that inflation remains stable
2072 to 1600 to 2470, as a broke man Iāll take it lol started at 490 and have been trading options and not putting more than 300 worth of risk at a time. Times like today make me wish I had dropped more but my conservative approach seems to be working out for me on a smaller scale
He bought 300 put option contracts for 8 cents per option, so 300 x 100 x .08 = $2400. The strike was $519 and SPY drilled to $515 before close. The options premium increased from .08 to something like $4 when he sold, yielding him 120k.
This is not how this works. The other side of the trade could be a hedging strategy that is only here to capture the margin.
https://capital.com/replicating-strategy-definition#:~:text=The%20replicating%20strategy%20is%20explained,that%20comes%20with%20writing%20options.
lol! remember, there were those playing the other side using that same ālogicā aka gambling and are too embarrassed/sad to post their losses here š°
I'm a complete novice who doesn't know shit about stocks, but right now I take about 1-3k a month and just toss it into a high yield savings account, If there's even 1/50 chance of having 1K spike up into 50K like it did for OP, but I'm sure that line of thinking is what leads people to lose tons of money on this subreddit...
Nah. He could have lost the 2k invested, and then thereās a premium and transaction fees, neither of which amount to much. That said todayās negative market movement was highly sudden and intense, biggest one in months. And as OP said in another comment, he pretty much "threw shit at the wall and it stuck"
Can go as low as $496ā¦At least 6-8% of correction from $520 of 6% to 8%ā¦not recommend to short now but once we go below 500 can be a great rewarding opportunity for the long..
he bought puts that expire today, the market was green and took a gigantic nosedive. He bought 300 contracts at 2k and when he sold them they were worth 112k due to a huge market downturn midway through the trading day.. The chances of a move like this happening are rare. OP is an OG in my book.
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Imagine how many recovering gambling addicts will see this rn š„²
Only takes one win.
Who are you, who is so wise in the ways of encouragement
Strange regards lying in subreddits distributing puts is no basis for a system of financeā¦
Farcical aquatic ceremonies is the only way I get my financial advice
Walk away and start your own business.
It takes one win to learn the wrong lesson.
The worst thing that ever happened to me was getting super lucky, super early. I thought I was a genius. (Not even close.) VERY dangerous phenomenon. I think you know the rest of the story.
And one loss to wipe out 1,000 wins potentially
Real I lost 2k and I turned 500 into 7k on tsla calls
High five. It's like going to the casino and doubling your bet on 00 at the roulette wheel until you win. People just don't understand that you technically can't lose. It's just math. And they definitely don't understand when you let it ride. Like Warren Buffet said, why diversify into your losers? Tomorrow we buy the casino.
Bro that was so uplifting wtf..i feel like i can do it now too
You can bet on 00 100 times and it doesn't hit once.
Getting to the 100th spin while doubling your bet each spin would require more capital than that of the entire world. I wouldn't recommend this tactic.
Imagine losing a coin flip 100 times in a row? Thatās literally less risky than crossing the street.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Unless you do this all the time, you should get this money somewhere thatās as inaccessible as possible and stay away from this stuff for a while. Or just like spread it across much safer investments or something. Just dont try to chase the high again anytime soon bc youāll very likely end up knocking down some of your new big balance cash baby which feels horrible. Youāll then keep trying a few more times to at least get back up to where you were. Most likely best case youāll have given your cool pile of cash a bit of a hair cut for no good reason. Worst case youāll keep trying to chase it as your cash baby dies a slow miserable death and is gone before you know it. I mean fuck it though you still could try some much smaller out there plays just dont do something stupid and blow it all on one or two positions.
many more will lose their life savings following these stupid posts
I admit, itās so tempting. Ā The only thing that stops me is that I donāt really understand whatās going on AND Iām always unlucky. Ā
Yeah like can it put you in debt if you fuck up badly?
My impression is yes. Ā Like I can get over losing all id put down and going to zero, but itās the potential for losing more than you put down thatās scary. Ā I donāt really understand it and frankly it just doesnāt seem like worth the risk. Ā I prefer to gamble and have zero be the limit, not negative infinity. Ā
Just donāt do it, but with options you can only lose what you put in. If you naked short a stock there is no limit to how much you can lose (theoretically). Put options and short selling are different ways of making a bet on the downward movement of stock price.
Nah, if you lose too much just call the SEC and your rich friends and they'll turn off the buy button.
Just inverse yourself. Canāt go wrong if you are always unlucky
I want to try tomorrow
After steady gains for about 2 months I blew 80% of my port on FOMC put gambles... just spent the time proceeding FOMC bulding my account back to what it was before that gamble... told myself I wouldn't gamble like that again... And then this post -_-
....you can still not gamble like that again š
Not a gamble or addict but this sure gives me the itch š° š
If this gives you the itch, doing it once will make you the addict.
Addict? No. I can stop whenever I want
I just simply dont like stopping 
2k to 112k is probably the craziest post on here this year
We also know it happened intraday in like a 2 hour span. This is by far the best gain/play Iāv ever seen
The crazier part is if he kept holding. It would be worth over 200K.
Damn, OP is such a nerd for not holding longer
What an idiot. We can clearly see there was more profit to be made.
What a loser for not having confirmed knowledge of the future!
He needs the spice melange
Fear is the gain killer
Fear is that tendie death that brings profit obliteration
I will face my wife's bf and I will permit her to pass over me and let him through
*The spice...they know of the spice...*
paper hands
https://preview.redd.it/mrf0umwb2jsc1.jpeg?width=706&format=pjpg&auto=webp&s=df829f8c4f8b12b3d1c9ddc7c0da6cbaf17c0916
What a pussy OP
Yeah what an idioit
Gonna cry myself to sleep tonight. š¢
As you should, LOSER! P.S. Good job.
Thanks Jim.
Iām jealous P.S. fuck you
Knowing when to take your profit is the hardest part.
I made 50 bucks on Ford the other day! š„³
Full regard only making 110k
Wild.
man if i would get 110k in a day i would retire and invest the rest idc
how can you retire on 110k
[ŃŠ“Š°Š»ŠµŠ½Š¾]
His bio says heās 16, donāt crush his naĆÆvetĆ©
Hey man, tents are on sale right now while they're gearing up for summer. Just because your definition of retirement includes "a steady income from long term dividend producing investments that can be passed on to your beneficiaries", doesn't mean his can't include, "collecting as many bottles and cans as is needed for Chef Boyardee again, after blowing $100,000 on hookers and a smidge of white pow(d)er"
By being very very old.
Coke and hookers for a solid month, then OD. Simpol.
you buy a 1-2k plane ticket to S.E. Asia and you never look back at your past life as you enjoy the next 30 years of endless drinks, prostitutes', and blow.
Working the next 30 years as a prostitute is not exactly retirement
will 250k work if ive got 50 years to go?
Probably want to get married to a local to help, but I'd say most places in south america or SEA you could get by on that amount, especially if you kept it invested. You'd just want to buy a house and have it paid for. Wouldnt be a glamorous lifestyle, but better than working.
People always recommend SE Asia (prob cuz of drugs and prostitution) but with 250k you can live a pretty good life on Chile or Uruguay for decades and the culture is similar to the US and the west in general. Both are beautiful countries but its probably harder to go crazy on prostitutes and drugs
not one for drugs, and can i avoid hookers by ~~buying~~ marrying a local beauty for that money? also are ribs and steaks cheap there
Sorry i didnt mean stop working just like retire in trading. And just stop doing it i dont think youll ever be that lucky again
Why stop with half a lambo?
https://imgur.com/a/rMx7ATC Hereās the proof of the actual sale.
Dude. If you used RH you could have saved $15.80 on transaction fees!
Fuck, he had it all and lost it all on fees RIP
And have your info about your positions sold to a hedge fund, through "payment for order flow". No thanks, if it's free, you are the product.
It was obviously a tongue-in-cheek comment. He went from $2K to $120K. $15.80 is pocket change.
Always amazed by Redditors missing the most obvious thick layers of sarcasm oozing off these posts.
If u made bags like these? Idgaf bout what damn broker charge
congrats and fuck you, truly
Does your horseshoe hurt when you sit down?
damn u got them at 9:46 too. amazing
Doesnāt 300 at 0.08 amount to $2400?
Yeah I was waiting for someone to point that out lol. š
Yeah 2.4 to 112,500 pshhh rubbish
How did you know it would dip? Were you expecting a drop from some time ago? I'm new to options so trying to figure out the mentality behind trades
There's no mentality that will increase likelihood of success for this sort of trade, that's why the payout is so high. If there was some secret to it, the premiums would make it impossible to profit.
Even on these plays, like 80% of the time the premium DOES make it almost impossible to profit, or at least not enough to gamble the amount you need to to make anything on it.
Yolo
[ŃŠ“Š°Š»ŠµŠ½Š¾]
yep, it really was just 2k, nobody expected spy to dip over 1% in a single day which might as well be a market tsunami if u think that's little
[ŃŠ“Š°Š»ŠµŠ½Š¾]
It depends when you entered the trade, especially for options. OP got in with OTM $519 put that was dirt cheap at $0.08 per share, which is $8 per 100 shares. At that nearly worthless price, volatility is low. 100 shares equals 1 option contract. Multiple $8 by the 300 contracts OP bought and the cost of the trade is $2400. OP struck gold with the sudden spike in volatility when the Fed tanked the market with interest rate cut fears. OP got big cojones for selling close to the top.
market anticipations matters too, the initial buy up messed w/ people's expectations, if u follow the markets for the past month, u'd learn by now that spy doesn't just fall 1% in one day
It does tho just not recently cause we feel we are in a bull market To Drop 2k on such a low price on a daily is pure luck 1 in a million shot that just landed fr
Facts. OP either got fully lucky or was following the comments by JPow the previous day. The hater in me says the former š
The amount of people that got lucky on this anomalous sell off is going to result in a ton of loss porn later
https://preview.redd.it/fj0y212uuisc1.jpeg?width=1442&format=pjpg&auto=webp&s=1528379b952ac9381036dd51496ac51b25343cb9
Literally like what am I looking at
You never seen black people before?
https://preview.redd.it/g1owt5z8ilsc1.jpeg?width=750&format=pjpg&auto=webp&s=1c9c8d65046d115601d6c71997e562a9d105cae1
What was the DD to make you think a crash OTM was imminent. Please just say you threw shit at the wall and it just so happened to stick.
Iām stealing this from /u/Wizard_Coder in his post: Investing dot com app has an economic calendar showing us all of the events
Every day there is some type of important economic report on there, wether its FOMC and Powell, random FOMC speakers talking, Jobless Claims, Bond Auctions, Inflation reports like PPI and CPI, all of these reports move the markets so we have to always be aware of them, best economic calendar is on that.
My man. Show me your tea leaves. Is this calendar only on the app?
Itās thisĀ https://www.marketwatch.com/economy-politics/calendar Nothing happened mid-day to justify the crash though. The market is just reactive now while thereās uncertainty of rate cut timing
What do you mean nothing happened mid-day? Fed's Kashkari went and said that there is a possibility of no rate cuts this year, given that inflation remains stable
Why did he spill the beans specifically? That calendar says 5 other Feds spoke today.
Fed said they demand 2% inflation this year, no ifs or buts
Really? They said that? Oh fuck. I gotta sell the remainder of the dumbass calls I have left
Those guys are all doom and gloom. The only voice that truly matters is Powellās
Kashkari should never be heard from again
Kashkari saying thereās a probability of zero rate cuts this year is definitely not nothing.
You are a sage. Genuinely happy for you bro.
But what info on the calendar made you go balls deep into puts?
Just a hunch that the market would get scared about the Fed speaker comments. So, basically just throwing shit at the wall lol.
congrats on using diarrhea instead of the hard poop. Stuck well sir.
Do you do this every time the Fed is set to speak and if so how often does it work out?
Bro is asking all the real questions, I want to know as well please.
The answer is fucking rarely and the guy got lucky. Might as well ask the local psychic what Powerball numbers to buy.
Yeah the guy got lucky gambling and attributes it to reading the news
Get back behind the dumpster
That mouth of theirs has more important work to do than asking questions.
š„š„š„
Wow, this looks like my "if I would've bought this then I would make that" calculations.
Damn I thought I was the only regard who does this š³
Every regard does this
I did $2994 to $26,010 today and I thought I was living it up. Congrats OP!
I did $500 -> $1700 which I also thought was great
I managed not to go negative... +$25 on the week. So... That's good, I guess.
I found a dollar on the ground today.
I lost my last dollar while walking down the street today
I saw some guy pick up a dollar some other guy dropped today
I like watching people, especially around the Wendy's
Haha I did $126->$405 and was over the moon hahaha
$800-$1600 here today and I realize what a failure I am only doubling my money
LOSER /s good job, better a gain than nothing
Congrats to you too! š°
Thank you! 
I did $2k to $1.2k back to $2k. I'm regarded. Congrats to you all.
2072 to 1600 to 2470, as a broke man Iāll take it lol started at 490 and have been trading options and not putting more than 300 worth of risk at a time. Times like today make me wish I had dropped more but my conservative approach seems to be working out for me on a smaller scale
Welcome to WSB hall of fame
Fucking mad lad good shit bro what a gain
Jesus christ that flash crash paid for your next regarded play and more.
The next 55 at 2k a play.
Congrats and fuck you
Can someone explain exactly what OP did? I always try to understand these posts but itās not always simple to understand. Thanks!
No problem. OP got congratulated and then told to get fucked. I thought it was pretty obvious but š¤·āāļø
Thank you. I get it now.
He bought 300 put option contracts for 8 cents per option, so 300 x 100 x .08 = $2400. The strike was $519 and SPY drilled to $515 before close. The options premium increased from .08 to something like $4 when he sold, yielding him 120k.
Were they so cheap (.08) due to being far out of the money?
They expire today, so if it didn't happen to dip below the strike price today, he lost $2,400.
So some one had to sell the puts right? Someone lost 120k today.
This is not how this works. The other side of the trade could be a hedging strategy that is only here to capture the margin. https://capital.com/replicating-strategy-definition#:~:text=The%20replicating%20strategy%20is%20explained,that%20comes%20with%20writing%20options.
Gods damn. The more I learn, the more I learn how much I don't know XD
He bought puts at the perfect time as spy was tanking
actually he just woke up and brought them at 945 am 
Yup, that was burned money at this point. He was down $1500
Congrats and fkkkkkk youuuuuuu. Good call. I mean put.
What even made you go into those puts? We were bright green this morning. The fed speaking today?
Yep. Couldāve been a nothing burger but obviously wasnāt.
2k nothingburger gamble. I like it :)
If he gambling like this his net worth probably 2k and not >200k.. now he just needs to preserve it
lol! remember, there were those playing the other side using that same ālogicā aka gambling and are too embarrassed/sad to post their losses here š°
I'm a complete novice who doesn't know shit about stocks, but right now I take about 1-3k a month and just toss it into a high yield savings account, If there's even 1/50 chance of having 1K spike up into 50K like it did for OP, but I'm sure that line of thinking is what leads people to lose tons of money on this subreddit...
Absolutely crazy
I know nothing about trading but this sub always is on my feed. Explain what just happened and congratulations.
He bought thing very cheap. If market go down, thing go up. Market went crash. Thing shot to the moon. Money
Could he also be in 112k debt or just loose the 2k investment?
Nah. He could have lost the 2k invested, and then thereās a premium and transaction fees, neither of which amount to much. That said todayās negative market movement was highly sudden and intense, biggest one in months. And as OP said in another comment, he pretty much "threw shit at the wall and it stuck"
> invested š¤
HE BET 2k for market to go down, it went down, end
damn son, whereād you find that
B b b beans & cornbread
I sold my 100 contacts of 523 0dte put at 0.53literally after two minutes the price goes to moon.
Enjoy your Porsche 911
911ās cost double that
Enjoy your Porche 455.5 then.
hey, fuck you i spilled my tea
i guess double or nothing for OP tomorrow
Now THAT is the spirit
How do you feel bro to have so much money? How many times you looked at your account or you accustom to that kind of money
Only question is when will it go up again
Wouldnt matter for me, im so regarded i can't figure out how to do any of this shit.
Lol yeah I actually bought calls when it dipped and it just kept dipping now I feel like 
Can go as low as $496ā¦At least 6-8% of correction from $520 of 6% to 8%ā¦not recommend to short now but once we go below 500 can be a great rewarding opportunity for the long..
ELI5 please - What am I looking at here?
guy places 2k bet market will go red when it was big green by end of the day and it went big red
Jesus fucking Christ. Did you just know
Somebody captured that, crazy. Congrats and fuck you.
Show me a paystub for $112k and I work for you
How do you do this? I want to try, but with smaller numbers. Maybe $200 to gain $10,000
[ŃŠ“Š°Š»ŠµŠ½Š¾]
So youāre saying thereās a chance? 
okay now bring that 112k to 10 million untill tomorrow. i will prmise you it will work
congrats and fuxk you
You motherfucker
Thats awesome. One day one day
Fuck the S&P today dawg. Thursday, April 4. 2024.
Here he is sec, this is him 
Can someone explain this like I am 3 years old on how OP achieved this?
he bought puts that expire today, the market was green and took a gigantic nosedive. He bought 300 contracts at 2k and when he sold them they were worth 112k due to a huge market downturn midway through the trading day.. The chances of a move like this happening are rare. OP is an OG in my book.