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 21h ago

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

121

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.

3

u/ntonyi 19h ago

Could you explain what he did please?

22

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$.