r/wallstreetbets • u/DegenOptionGuy 💎Diamond Testicles💎 • 12h ago
Gain 27k -> $765k BABA $125p 4/4
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u/SergiusPontius 11h ago
The orders being filled is litteraly orgasmic
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u/Anal_Recidivist 8h ago
I don’t touch options yet so am I understanding correctly that these were bought by other investors? Or did he just sell back to the market? 33 to 900 makes it seem like these are purchased by people/funds?
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u/fragged6 8h ago
"The market" = "other investors"
If that doesn't clear it up, stick around, you'll fit in great.
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u/Prestigious_Slip_958 11h ago
Seeing the contracts getting filled is so satisfying.👌
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u/DegenOptionGuy 💎Diamond Testicles💎 11h ago
Made sure to include the price update and the sell for the boys
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u/da_crackler 8h ago
I feel like you got lucky with the fill
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u/DegenOptionGuy 💎Diamond Testicles💎 8h ago
It actually topped out at like 11-12 I left like 250k on the table
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u/Anal_Recidivist 8h ago
I’ve been working up the knowledge on this stuff and understand the concept of calls/puts, how the calculation works, etc.
But when you sold your puts, who bought them? Investors/funds or sold back to market like any stock?
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u/DegenOptionGuy 💎Diamond Testicles💎 8h ago
Who cares?
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u/Anal_Recidivist 3h ago
So another party physically had to buy these?
You couldn’t just sell them like a normal stock if they hadn’t bought them?
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u/Codicus1212 898C - 0S - 4 years - 1/6 1h ago
There are open bids on hold with brokerages. The broker matches the seller with the buyer. The black scholes model is used to price contracts, but sellers can offer and buyers can bid for whatever price they want. On crazy volatile days like today (when the VIX skyrockets) these options have crazy high IV “Implied Volatility” that skyrockets the price of an option based upon the implied (think possible) move the stock could make.
Unless you’re selling thousands of options in something people don’t trade much, or if you’re price is too aligned with market consensus, you’re not going to experience any problems selling. Someone somewhere is going to buy them.
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u/YouHaveFunWithThat 7h ago
Just guessing but based off the price of the stock when OP placed their limit order, the shares dipped low enough for the intrinsic value of the puts to be higher than OPs sell order. I’d imagine there are algos designed to snap those up, immediately exercise them and resell the shares for a profit. It’s free money if you have the capital to exercise the contracts and the software to execute the trades fast enough.
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u/stuntswagmaster69 5h ago
Nobody "buys" them. The market maker takes the opposite side of your trade while staying neutral in the market. The market makers provide liquidity. Cmon dudes how do we not know this?
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u/niceee_guyyy 4h ago
Market makers. The algo computer take whatever the inverse/opposite of your position is. Options are generally transacted between MM and retail
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u/citrusco 9h ago
Omg you did this sitting on a united plane, in economy, with free t mobile WiFi
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u/DegenOptionGuy 💎Diamond Testicles💎 9h ago
I paid the $8 for unlimited streaming
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u/youreaditfirst TSLAugh love 9h ago
Damn what's your next play
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u/Rishi___P 11h ago
900 buys! Fuck me!! The bollocks on this guy!!!
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u/Potpourrri 10h ago
Congrats. I know that must have felt good as fuck watching that 0/900 turn into 900/900
Fuck you though
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u/Esoteric716 8h ago
I have no clue how this shit works. Did you just legit make like 750k??
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u/itstoohotouthelp 8h ago
this is the equivalent of dropping all your money on the roulette table. its possible you win huge but do not look at this and think this is a good idea. you will delete all of your money before you even know what happened.
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u/bmanningsh 7h ago
Hey don’t tell someone this isn’t possible to repeat. Loss porn is about all I have to look forward to in these times.
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u/fragged6 7h ago
Sports betting might be a better analogy...your cousin knows a cheerleader who knows the QBs sister and says he was out all night drinking. If that's true plus 20 other pieces falling into place, you bank.
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u/plasmaSunflower 4h ago
Even when everything is going down? Puts seem like a sure fire way to make bank
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u/MindlessDrama8603 11h ago
When was contract bought this morning ?
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u/DegenOptionGuy 💎Diamond Testicles💎 11h ago
Yesterday
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u/Prestigious_Chard_90 11h ago
What made you take this trade, since the China news was today?
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u/DegenOptionGuy 💎Diamond Testicles💎 11h ago
Once I seen the new China tariffs I had a feeling china was gonna clap back quick. Was easy play since baba was pretty much green yesterday made no sense in such an ugly tape.
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u/United-Prompt1393 8h ago
Why did market open at 8:39?!
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u/DegenOptionGuy 💎Diamond Testicles💎 8h ago
I was in CST and for some reason options on BABA didn’t start pricing until like 10 mins after market open
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u/Revolution4u 3h ago
That was actually the classic robinhood fuck you where they "lag" and dont update until 10 min after open on a high vol day.
I really suspect they are frontrunning their users trades and doing all kind of other no no's regularly.
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u/Prestigious_Chard_90 9h ago
Appreciate the answer. I need to get better at connecting the dots like that off news.
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u/Mr_meowmers00 10h ago
Fuck my life, i meant to buy these exact same puts yesterday but I got tied up at work. Looks like I'll be working forever.
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u/davidloveasarson 9h ago
All while boarding a plane it appears!!anyone else notice their seat at the top? Legend
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u/DegenOptionGuy 💎Diamond Testicles💎 9h ago
Calls on united wifi, if it went out I’d be on the no fly list by noon
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u/BrownWolf77 11h ago
Swing?
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u/DegenOptionGuy 💎Diamond Testicles💎 11h ago
Bought yesterday when baba was green. Had a feeling china was gonna retaliate
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u/Specialist_Act_2249 11h ago
lol but you put 27k on them retaliating in one day..
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u/IndividualStatus1924 11h ago
32k actually. They were down 5k
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u/DegenOptionGuy 💎Diamond Testicles💎 11h ago
I actually attempted to buy another 300 contracts at the close by Robinhood wouldn’t clear my deposit.
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u/Paint_Flakes 9h ago
Explain to me like I am dumb, how did this go from .30 to $8
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u/klasredux 4h ago
Stock very flat, very far from $125. So put that expire tomorrow cheap cheap cheap. Very flat stock suddenly plunge 10%. Old very cheap cheap cheap put now deep in the money. Have real value.
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u/Jackol4ntrn 9h ago
that 0 to 32 to 900 contracts sold instantly (unless you just cut to it) mustve been so satisfying for you... sigh.
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u/ToughVegetable2483 Has Fallen in Love with the Spy Flair 10h ago
I’m upset you didn’t show the big green dildo on your homepage
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u/snowballkills 9h ago
I wish I knew this like you...but here I am getting screwed and totally wiped out
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u/Same-Fox9304 8h ago
Shouldn't baba have dropped on Thursday, when the news was that AMERICA is tariffing China goods. Not the other way around. Why would baba fall on CHINA tariffing the US?
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u/KnowledgeNate 9h ago edited 9h ago
Well done bro. Really fuckin well done.
Are we still in a put buyers market as opposed to say a sideline market.
Are you only trading situational 0 to 1 day expiry?
Any other observations you care to share ?
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u/No_Collar_3977 8h ago
congrats and fuck you. also this was my plan for this morning and my dumb ass decided to look else where.
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u/Comrade-Chernov 7h ago
ONE DAY I will learn how to do this shit. One day. And on that day I will hopefully finally pay off my car, lmao.
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u/BrokeSingleDads 1h ago
How did they Fill for .30 while already 8.00 ITM 🤔
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u/DegenOptionGuy 💎Diamond Testicles💎 1h ago
I bought them yesterday. Price updated today when market opened.
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u/Noabit777 10h ago
Imagine if you held 😅 .. good shit.💯
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u/DegenOptionGuy 💎Diamond Testicles💎 10h ago
Only in wsb can you make 3/4 M in a day and someone says what if…
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u/robertw477 9h ago
Congrats. Amazing. Its a big play. If we crash monday (I think) you may end up in the millions here.
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u/lilgsmart 8h ago
How did you have $27k to blow in the first place, please don’t blow all this money you just made 😭😭😭😭😭
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u/LordoftheEyez 7h ago
You know what? Hell yeah. I'm holding dearly my PDD puts 4/11 expiry, bought at the very high on Wednesday 👀
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u/Ok-Cardiologist-6013 7h ago
Damn, this could’ve been me today if I didn’t sell my VIX calls too early. 😭
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u/_reeses_feces 6h ago
Thanks for posting the vid. It’s like a gains simulator so we can see what it’s like to win.
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u/wolfiasty 6h ago
Smiling watching this. Well fucking done mate :) congratulations for not being regard and for taking profit.
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u/shorrtgal 5h ago
Damn, you popped into my mind the other day as I noticed you were awfully quiet of late and hoped you didn’t blow your account. Looks like you were just waiting for the right play! Well played man
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