Trader on Reddit made $20 million this year , $1-3 million profits each trade

guru said:
BTW, like most people I totally suck comparing to him, but I was in an $SPX options trade that would've made 5000%+ over a month ($15K on a ~$200 investment, though could be scalped at different levels). Then TDA forced me to close it due to too much long Vega. I feel so screwed when I reviewed its perfromance just now.
View attachment 334762


The only risk was in Vega, which was huge in Vega terms, but I didn't have any real serious risk according to my calculations.

Here is the risk chart as of today, after it's already $15K higher:
View attachment 334763


And here is one of the margin calls I got from TDA:
View attachment 334764


If I remember correctly, I might've had a similar trade at IBKR in the past without any issues, so I may trade those again there when opportunities show up.
Just won't dare to go in with huge size.
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What's the composition of calls?
 
Check the link in OP initial post.
From what I can tell, he trades verts and ITM calls..

Forget his P and L,it appears he looks lije he knows what hes doing.Not a wild punter with garbage calls


traider said:
What's the composition of calls?
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guru said:
And same with Muhammad Ali. Why not everyone wins at boxing? What kind of question is it even?
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Really stupid analogy. In business/trading there can be/are multiple winners. In sports there can be one champion at the same time. But later on sure, Mike Tyson can be Ali...

For the record, the Reddit poster started out with 30K 10 years ago.

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"No, I started with $30k over a decade ago. The latest trades I started with $300-400k(depending on how you count it, I took some out early on) last April. Made $10m, cashed out nearly all of it and restarted with $350k last November.

This will be my third taking profits and restarting."
 
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it sounds like his 'secret sauce' is that the market is in a monster rally and basically goes up a fair bit every day, almost without fail lol. Lots of people on twitter have been killing it for quite a long time now with all kinds of 'long only' strategies on the indicies. It's a bit like how so many daytraders got rich during the last bubble trading tech stocks where they'd all fly up a shit tonne every day
 
I really like what this trader is doing.
Definitely not paper... And, even if the market is going up, I wonder how many are up a 1000% for the year.
 
tradelosses said:
His dropdowns are small because he only allocated 2-5% of his capital the trades yet still 20-50x his money. If anything, he is betting sub-optimally by Kelly and leaving money on the table.

I am looking into this more closely. Yeah, he has lost money on some trades but if he can make a 10-50x ROI from the winners, then the P&L is still strongly positive anyway,
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taowave said:
Check the link in OP initial post.
From what I can tell, he trades verts and ITM calls..

Forget his P and L,it appears he looks lije he knows what hes doing.Not a wild punter with garbage calls
More...


I've been trying to replicate his profits in the PnL and you would need a 2SD move to make those kinds of profits with his 800 contract AMZN 10 wide call spread.

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What is ticker or is that on the 1st chart up with TWS?


Thanks

guru said:
BTW, like most people I totally suck comparing to him, but I was in an $SPX options trade that would've made 5000%+ over a month ($15K on a ~$200 investment, though could be scalped at different levels). Then TDA forced me to close it due to too much long Vega. I feel so screwed when I reviewed its perfromance just now.
View attachment 334762


The only risk was in Vega, which was huge in Vega terms, but I didn't have any real serious risk according to my calculations.

Here is the risk chart as of today, after it's already $15K higher:
View attachment 334763


And here is one of the margin calls I got from TDA:
View attachment 334764


If I remember correctly, I might've had a similar trade at IBKR in the past without any issues, so I may trade those again there when opportunities show up.
Just won't dare to go in with huge size.
More...
 
taowave said:
Your post shows the July 130-140 call spread on top,but you are simulating the 175-185...

Without looking,no way a 10 point verticals trades at 3.40 if you need a 1.5- 2 standard move..
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Correction...the chart was showing 1SD. I adjusted the price to $3.40 and would need to move about $2.46 so less than a standard deviation.
 
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