r/wallstreetbets • u/DegenOptionGuy 💎Diamond Testicles💎 • 1d ago

Gain 27k -> $765k BABA $125p 4/4

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3.0k Upvotes

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38

u/Esoteric716 20h ago

I have no clue how this shit works. Did you just legit make like 750k??

120

u/itstoohotouthelp 20h 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.

47

u/bmanningsh 19h 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.

17

u/fragged6 19h 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.

3

u/ntonyi 19h ago

Could you explain what he did please?

23

u/jmvxc 18h ago

He bought puts, essentially betting that the company stock was going to fall.

Looks like he bought 900 for $.30 and sold them for $8.60. Absolutely nuts

1

u/ImaginationApart9639 7h ago

That math is heavily not working out

2

u/wthja 6h ago

Each contract is 100 shares. He bought 900 packs of 100s, and each costs 0.3$.

3

u/plasmaSunflower 16h ago

Even when everything is going down? Puts seem like a sure fire way to make bank