$160K on SWKS Options

[guru]

Not mine, just picked this off of Twitter and thought it was an interesting trade (interesting because some people ask for details on trades that generate 1000%+), albeit a little lucky. Not sure of the details, but I believe he held $100 calls exp Nov 15 2019, worth $0.25 recently, today went up to $2.50.

Actually not sure if this makes sense, if he made $160K on a 10x move then he'd have to have $16K worth of those calls on a $40K account. Though he holds long-term, so he could've scalped them for $0.10 or less during last few weeks.

BTW, is there an options porn thread on ET where such posts might belong?

 

[ET180]

I bet his account was higher at the start of the year. He's gambling.

 

[ZBZB]

BTW, is there an options porn thread on ET where such posts might belong?

It is called https://www.reddit.com/r/wallstreetbets/

 

[ZBZB]

I bet his account was higher at the start of the year. He's gambling.

If you sell credit spreads and buy options. A risk reversal then you can be in business for a while.

 

[S2007S]

Not mine, just picked this off of Twitter and thought it was an interesting trade (interesting because some people ask for details on trades that generate 1000%+), albeit a little lucky. Not sure of the details, but I believe he held $100 calls exp Nov 15 2019, worth $0.25 recently, today went up to $2.50.

Actually not sure if this makes sense, if he made $160K on a 10x move then he'd have to have $16K worth of those calls on a $40K account. Though he holds long-term, so he could've scalped them for $0.10 or less during last few weeks.

BTW, is there an options porn thread on ET where such posts might belong?

View attachment 212464

$16k worth of calls on a $40k account, talk about insane risk...that's what some of these people do, I saw a guy do this recently however the amount of risk cost him many dollars, he doubled his account in weeks and lost it all. I can never take such risk. Especially when you are playing with more than 1/2 of your portfolio on options. One wrong move and it could take you years and years to get back up to where you were.

 

[S2007S]

If you sell credit spreads and buy options. A risk reversal then you can be in business for a while.

Where could I find an example of such a trade? I started trading options but very very basic.

 

[ironchef]

Where could I find an example of such a trade? I started trading options but very very basic.

 

[d08]

These threads are anecdotal. Throwing darts, one will hit the mark.

 

[ZBZB]

Where could I find an example of such a trade? I started trading options but very very basic.

google risk reversal

 

[ZBZB]

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A stock trading that low is not optionable. The only thing you can do is to scan for gaps on optionable stocks and buy calls or puts in the direction of the gap. Www.trade-ideas.com www.esignal.com or IB TWS market scanner.