No he was on the right side just not right enough. To be successful in longing options, you have to be not only right, but right enough.
Now THIS is peak WSB...Dude YOLOs $90k on GME weeklies...just learned about call options...
- Thread starter zghorner
- Start date
No he was on the right side just not right enough. To be successful in longing options, you have to be not only right, but right enough.
Hmmmm. Fair enough I guess, but I'll still counter with: He who fish in another man's well... might catch crabs.
No ALL of his options strike price are above the underlying's price upon expiration so he won't be able to exercise them at all. And since he didn't close the positions to recoup some of the purchase price, so he lost all of the premiums that he paid to buy these options because now these options are worth zero since nobody would want to spend anything to buy them.
That RH investor who took his own life was NOT a Reddit poster. And he took his own life because of something else, totally different thing from what this guy did. In this case, the guy REALLY lost $90K. In the other RH suicide case, that kid actually made money! If he had just waited over a weekend, just TWO days, because it takes two days for options to settle, he would've seen his account showing $10K in profit. That's the sad part. He killed himself for nothing. And when the options expire worthless, you do NOT owe anybody anything. It's just every penny you spent buying these options are completely gone! The value of your options becomes $0 but you don't owe anybody anything provided you didn't buy them on margin.
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But in this case he didn't fish in another man's well. He fished in a public well just didn't angle deep enough so he caught nothing, not even crabs.
although i believe in reincarnation...prolly best to give this one all you've got.
fuck it lets go all in GME...ET should all collectively, spontaneously (without organization as a group but rather as individuals randomly coming to the same conclusion) buy to the tits.
2 birds with one stone -> 1. we make money -> 2. We get to squeeze the absolute shit out of one of the most arrogant, unskilled, enfeebled, debutantes in ET history (@Saltynuts).
Until he posts his own account screen showing all of his positions, I seriously doubt that he shorted GME. Probably said that just to get a reaction. But if he did, hope he covered by now. LOL
Imagine pretending to have a position just to get attention from random internet dudes lol. I refuse to believe anyone would do that.
JSOP vomited:
No ALL of his options strike price are above the underlying's price upon expiration so he won't be able to exercise them at all. And since he didn't close the positions to recoup some of the purchase price, so he lost all of the premiums that he paid to buy these options because now these options are worth zero since nobody would want to spend anything to buy them.
That RH investor who took his own life was NOT a Reddit poster. And he took his own life because of something else, totally different thing from what this guy did. In this case, the guy REALLY lost $90K. In the other RH suicide case, that kid actually made money! If he had just waited over a weekend, just TWO days, because it takes two days for options to settle, he would've seen his account showing $10K in profit. That's the sad part. He killed himself for nothing. And when the options expire worthless, you do NOT owe anybody anything. It's just every penny you spent buying these options are completely gone! The value of your options becomes $0 but you don't owe anybody anything provided you didn't buy them on margin.
He could have exercised ALL of his calls; there is no requirement that the options need to be ITM. WTF did you learn to trade? Aren't you the idiot who stated he worked for an ibank?
And the dude who blew 90K on GME vol could have covered a lot of those strikes profitably when shares broke 285 this week.
No ALL of his options strike price are above the underlying's price upon expiration so he won't be able to exercise them at all. And since he didn't close the positions to recoup some of the purchase price, so he lost all of the premiums that he paid to buy these options because now these options are worth zero since nobody would want to spend anything to buy them.
That RH investor who took his own life was NOT a Reddit poster. And he took his own life because of something else, totally different thing from what this guy did. In this case, the guy REALLY lost $90K. In the other RH suicide case, that kid actually made money! If he had just waited over a weekend, just TWO days, because it takes two days for options to settle, he would've seen his account showing $10K in profit. That's the sad part. He killed himself for nothing. And when the options expire worthless, you do NOT owe anybody anything. It's just every penny you spent buying these options are completely gone! The value of your options becomes $0 but you don't owe anybody anything provided you didn't buy them on margin.
He could have exercised ALL of his calls; there is no requirement that the options need to be ITM. WTF did you learn to trade? Aren't you the idiot who stated he worked for an ibank?
And the dude who blew 90K on GME vol could have covered a lot of those strikes profitably when shares broke 285 this week.
There is a reason why people ask for postings of account information window showing positions. Let's just put it that way.