Now THIS is peak WSB...Dude YOLOs $90k on GME weeklies...just learned about call options...

maxinger said:
Yesterday there was an opportunity to close some of his positions to minimize
loss. He didn't do it.

Anyway, if he did the reverse of what wsb said, it would be a different story.
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I'm still confused. All he did was lose 30K on the premium he paid. What is the big deal there?

And I just noticed...why the FUCK did this guy just buy a $510 call expiring in a week, on the quarterly witch day for 10 bux? Holy shit! Options people are nuts! (Well, the stupid ones are nuts. I am a stupid options person. I would never buy a 510 call on this stock. I would simply stay away from the stock period, because it defied trading physics. It's IV is for the advanced options blokes.)
 
Overnight said:
I'm still confused. All he did was lose 30K on the premium he paid. What is the big deal there?

And I just noticed...why the FUCK did this guy just buy a $510 call expiring in a week, on the quarterly witch day for 10 bux? Holy shit! Options people are nuts! (Well, the stupid ones are nuts. I am a stupid options person. I would never buy a 510 call on this stock. I would simply stay away from the stock period, because it defied trading physics. It's IV is for the advanced options blokes.)
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He lost $90k man.

and it was a completely retarded play, that’s the point that makes it worth posting. The higher the risk aka the less chance the play has of bearing fruit...the more cred you get in that forum...this fucking idiot just traded 90 thousand dollars for some meaningless Reddit “awards” and upvotes/“likes”. Welcome to the twilight zone.
 
zghorner said:
He lost $90k man.

and it was a completely retarded play, that’s the point that makes it worth posting. The higher the risk aka the less chance the play has of bearing fruit...the more cred you get in that forum...this fucking idiot just traded 90 thousand dollars for some meaningless Reddit “awards” and upvotes/“likes”. Welcome to the twilight zone.
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Yeah, that whole Reddit award thing is something I was going to go on about in a separate thread.

But how did he lose 90K? I calculated the call options he bought, so he paid for the call options about 30K. He spent 30K. They have now expired. How does he owe 90K?
 
Overnight said:
Yeah, that whole Reddit award thing is something I was going to go on about in a separate thread.

But how did he lose 90K? I calculated the call options he bought, so he paid for the call options about 30K. He spent 30K. They have now expired. How does he owe 90K?
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Look at my post #19 on pg2....his total spent on options was always $90k. Yesterday he was down $60k (so his total value remaining yesterday was $30k). Today all the value disappeared and he lost 100% of his investment aka $90k.
 
Saltynuts said:
So there are basically two sides to the GME trade... and it turns out he was on... THE WRONG SIDE. LOLOLOL....
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Lmao nah he’s just retarded...you the one on the wrong side of this trade gay bear boi. Stimmies gonna hit and these teenagers on Reddit gonna put you 6ft under lmAo.
 
zghorner said:
Lmao nah he’s just retarded...you the one on the wrong side of this trade gay bear boi. Stimmies gonna hit and these teenagers on Reddit gonna put you 6ft under lmAo.
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I accept your challenge Sir Dork-A-Lot lolol....
 
zghorner said:
I’m not the one you’re fighting...you’re fighting the market lol...and mr. market has f’d more people in the A than Elton John.
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LOL, yes, I know. We shall see Monday! Monday will be one of the most apocalyptic battles this world has ever seen. The ultimate good (people trading based on true underlying facts and fundamentals) versus evil (those who would try to screw the good ones just for shiats and giggles). I assure you that, while the battle might be fierce, I shall reign supreme when the smoke clears and all is said and done.
 
zghorner said:
Look at my post #19 on pg2....his total spent on options was always $90k. Yesterday he was down $60k (so his total value remaining yesterday was $30k). Today all the value disappeared and he lost 100% of his investment aka $90k.
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Yes, that would be the loss he would take if he exercised those options at the penny price. Right? So he lets them expire, and just loses the 30K he paid in premium. Maybe that is why that one reddit kid took his own life when his RH account did not properly show his true account value with the hedge?

I still do not get how if you spend 30K in premium to buy naked call options, how they would expire and you owe triple the amount.
 
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