r/wallstreetbets • u/Crunchypie1 • 1d ago

Gain Turned $100 into 17k thanks to the orange man 🙌

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I bought a ton of weekly far OTM puts on nvda and woke up today with huge profits! I am poor. Like really poor. Live paycheck to paycheck. I've been full bear since 2022. I usually put $100-$200 into the stock market weekly. Finally my full port puts paid off. This is only the beginning. I sold my puts today. Took my profits and bought uvix since options are way overpriced.

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325

u/Crunchypie1 22h ago

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u/Complete-Isopod-7811 21h ago

How were you able to day trade that many times in a day without having over 25k account value. And I know being cash you would have ran out of BP

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u/Crunchypie1 21h ago

I swing traded. On Wednesday I bought aapl puts otm before liberation day. On Thursday I was up 4k from $100. Sold aapl puts and bought nvda puts on thursday. All were 4/4 expiration and decently far otm. Wake up Friday morning with 17k in my account. Absolutely flabbergasted. Took me 2 hours to realize it was real life. I immediately sold at 9am. Reinvested.

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u/marshmallow_metro 21h ago

Reinvested

👀...

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u/TheBarracksLawyer 20h ago

Sir, this is a casino

30

u/PaidUSA 19h ago

Hes on Nvidia going to 40 next.

-23

u/Crunchypie1 21h ago

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u/chmod-007-bond 21h ago

lol

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u/Crunchypie1 20h ago

True wsb regard 👍 ask me how I'm doing next week.

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u/Helpful-Caramel-239 17h ago

Sir, do you want a pipe with that crack?

9

u/italian_mobking 11h ago

They’re probably gonna end up with pipe in the crack… behind a Wendy’s

7

u/ThatBlackGuyWasTaken 17h ago

I'll see you in the wsb compliation video for April/Spring o7

10

u/marshmallow_metro 20h ago

RemindMe! 7 days

3

u/RemindMeBot 20h ago edited 3h ago

I will be messaging you in 7 days on 2025-04-12 05:50:41 UTC to remind you of this link

24 OTHERS CLICKED THIS LINK to send a PM to also be reminded and to reduce spam.

Parent commenter can delete this message to hide from others.

Info Custom Your Reminders Feedback

3

u/PedanticPlatypodes 18h ago

Remindme! 4 days

1

u/Z2HKarx 15h ago

Remindme! 7 days

2

u/suckit2023 19h ago

RemindMe! 1 week

15

u/casseroled 20h ago

this stresses me out

7

u/Zzamumo 11h ago

fuck it we ball

fuck it we ball

fuck it we ball

fuck it we ball

fuck it we ball

fuck it we ball

4

u/1d0ntknowwhattoput 12h ago

Holy fucking regard

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u/goatnxtinline 21h ago

so you basically full ported your AAPL gains into NVDA far otm puts that expiree the next day... oh buddy, you are sick lol I feel like you have to be 21 just to read this post because that was pure degeneracy

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u/Crunchypie1 20h ago

This is wsb right?

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u/dlobnieRnaD 15h ago

This sub has some of the smartest retards on the planet I love it

5

u/Field_Sweeper 13h ago

I hope you just stuck to SPY puts lol

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u/dow-j18 17h ago

smooth. dont let it get to you. Stay humble. Rinse & Repeat

2

u/H-A-T-C-H 6h ago

What is the draw to uvix if you don't mind me asking?

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u/Crunchypie1 6h ago

Leveraged etf on the vix. I believe vix has room to move up.

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u/JudgeArthurVandelay 19m ago

Please prepare for your tax bill

2

u/jbloom3 7h ago

If you sell always save enough to cover the taxes before reinvesting. Put that money in a high interest savings account until it's tax time and keep the interest

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u/Crunchypie1 7h ago

How much? 10-20%?

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u/Crunchypie1 7h ago

Let's say i took the profit on 17k and reinvest and it goes to 5k. Do I pay taxes on the 17k or the 5k at the end of the year?

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u/zeropoint71 7h ago

You owe the taxes on the 17k, regardless of what you do afterwards - that’s why the comment is to put aside the tax money separately.

However, if you end up eating that loss and selling that 17k position for 5k, you’d offset your gains for that loss of 12k — but you would have to exit the position in the same tax year

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u/Crunchypie1 7h ago

Thank you! This is the info I was looking for!

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u/jbloom3 7h ago

You will pay taxes on your net realized gains. Only once you sell for a profit or a loss does that profit or loss hit your taxable income. So if you have a $17k profit, you'll owe like $4k in taxes (random number) so if you reinvest all $17k and come tax time you don't have and liquid cash you'll be forced to sell when you don't want to for cash flow purposes

1

u/Alone-Singer-8677 12h ago

You mean the DTE for the trades were either 1 or 2 days , and far otm meaning like 50% otm kind??

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u/Crunchypie1 9h ago

Far otm on a 1dte option is like 8-10%. You know, like buying the worthless contracts that are maybe .10 a pop.

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u/bonds101 21h ago

Congratulations bro. Fuck the haters and non believers. In times like these you changed your life for the better. I’m not too good a trader personally but def research and plan your next move. This is the first step to your way out 🙏

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u/Ok_Battle5814 7h ago

Cash account

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u/One-Independence8745 20h ago

Youre not poor. If you can put $100-$200 weekly, you are not poor and dont have any idea what poor is. Shut up

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u/Crunchypie1 20h ago

👍yea I'm not homeless. I have a 45k job and eat at taco bell. I'm not broke. Just poor. No saving account. Usually a couple hundred before each payday. If i had a big expense come up I'm fucked. Idk what you call that? Not middle class. I have "fun money". It's not $200 weekly. Some weeks I don't have any and some it's $50. Didnt know we were fact checking my wsb shitpost.

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u/SoberBobMonthly 20h ago

Ignore those fuckwits saying its not 'poor' they're living with the hope that their similar or only slightly better jobs that have no stabllity are rich kings. Your realism triggers people who don't realise they're not middle class because that shit only happens once you're upwards of 150k a year salary depending on where you live

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u/peeved-penguin 18h ago

it is poor or on the brink of poor if a person is living paycheck to paycheck and a huge medical or car or other bill would set them back in the red.

not saying this to you 'cos you get it but the others who think you gotta be living in your car or on the streets to be "poor poor.'

so many people on the brink.

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u/laffing_is_medicine 7h ago

All wagecucks are poor.

-wagecuck

2

u/Teaotic 11h ago

upwards of 150k a year salary depending on where you live 

Try $500,000/yr in NYC

Taxes take 50% no SALT median Manhattan rent $5,000 median home $1.2m)

1

u/One-Independence8745 9h ago

Yeah just ignore me

1

u/One-Independence8745 9h ago

You said “poor, like really poor”. Congrats on the $17k. Now if you got that big expense you got the $. But since you dont understand poor, you’re most likely gonna blow it back in the market. No savings account? Know the best way to start one? Take that $100-200 weekly and…

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u/regnarrion 20h ago

Gatekeeping poverty lmao

9

u/LighttBrite 11h ago

People would gatekeep a a shit turd if it gave them any sense of control.

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u/ephemeral_resource 10h ago

Funny, and I mostly agree it's silly (to gatekeep poverty), but poverty does get bad (and frustrating) fast when you have zero spare money for anything let alone emergencies. It's a sort of constant fear at some point being insecure with food and shelter that is just a terrible way to have to live. I do great now but there was a time I'd be hitching a ride to a local church for the free community weekly meal and other things like this.

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u/conical_helmet 20h ago

Bro 100 to put into the market like that is poor if that’s what he’s doing with his disposable income. It’s certainly not rich.

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u/Remarkable-Round-227 18h ago

Poor is relative. Poor is not the same as being broke btw. IMHO if you don’t have at least 10k in savings, you’re poor.

2

u/WatchProfessional980 11h ago

Tell your mom to give you a bigger allowance then.

 Christ if $100 a week means that much to you, do something with your damn life instead of bitching on Reddit. 

2

u/Zealousideal-Ear1036 10h ago

You have 7 figures in assets/cash no?? You are poor. We are all poor.

1

u/One-Independence8745 9h ago

Thats not true, you just look at the world as full of things you dont have access to, not enjoying what you do.

1

u/hhh210210 9h ago

This is a truly pathetic comment 

0

u/CantTakeTheStupid 15h ago

Invalidating other people their struggles is fucking pathetic behaviour. People making 45k are one missed paycheck away from being poor. Shut the fuck up

1

u/One-Independence8745 9h ago

Sorry that so many people want to claim poverty when they arent experiencing it.

1

u/Kspurlin 19h ago

Sir this is a wall street bets

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u/SouthWave9 17h ago

So if you sold a $60 put that expires on May 2nd, someone believes that the stock will fall that much? Isn't that a bit too much from $92.6 of today?

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u/Humble_Implement_371 16h ago edited 16h ago

yes but it makes more sense when you realize the purpose of these financial instruments are insurance rather than scratch off tickets. maybe the buyer just needed to buy a $60 put to close out a $60 put they sold same expiration date for much more, that they had sold prior. maybe its a multileg trade and a $60put is just one part of a bigger picture. prolly a market maker trying to balance books like a bookie balances bets idfk. that shits all magic wizard of oz to me.

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u/SouthWave9 16h ago

So you mean that person that bought it may have shares that he kinda wants to insure? Sorry I'm a rookie.

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u/Humble_Implement_371 15h ago edited 15h ago

yes thats it. or 'multi-leg' trade: they are buying and selling multiple different calls/puts, as part of 1 strategy. each call/put is a 'leg'

kamikazecash on youtube is edutainment and
'tastytrades untrainables' (also youtube) have some more informative hands on content.

all my money goes to tools and cars vs calls/puts so: goodluck.

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u/Humble_Implement_371 15h ago edited 15h ago

but yea i guess realizing the insurance aspect makes this whole subreddit even more hilarious when you see people saying shit like i turned $xxx into $xxx,xxx. im def happy for em, some of the bets youll find posted on wsb are absurd. (not talking shit @ op, good for them whatever their trades were.)

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u/SouthWave9 15h ago

Even this guy was all over the place with his strategy, as some other commenters (clearly more experienced with options) were saying he truly belongs here. Or at Wendy's in the future haha.

I do have a story to share soon, my stupid post may make the rounds here😂

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u/misterluxu 11h ago

Very happy for u hope u withdraw the money and the reinvest into something that will multiply it again

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u/LightofAngels 15h ago

What platform is that?

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u/DistinctMedicine4798 8h ago

How do the 60 and 70 dollar puts make money when nvidia never dropped that far? Apologies for my ignorance!

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u/Crunchypie1 8h ago

They are far dated and the stock still dropped 10% in 2 days. IV had a big part of it