/biz/ - Business & Finance

>>58162633
Put in 10% or the highest amount for your 401k employer matching. Roth 401k preferably. It's going to be some cookie cutter bullshit and you'll want to allocate everything to SP 500 index funds. Next max out your Roth IRA (7k per year). VOO/SPY or VTI. Next put additional money into your individual account. Use a real broker like Fidelity, Schwab (formerly TDA), etc. Not Webull or Robinhood. Open a margin account, and look into options approval if it's something you want to do down the road. Put everything into SPY/VOO or VTI like before. Lump sum the 30k, and then DCA with your paychecks every two weeks. Paper trade in your spare time. Get good.

I just bought 1,000 shares of UPRO.

>>58001736
Nope. The option will lose all extrinsic value by expiration (theta), and will be left with intrinsic only (now that it's ITM). Look at the same strike at the closest expiration date. That will give you a better idea of what the price will be. Basically sell now for more money since there is extrinsic + intrinsic value.