/biz/ - Business & Finance

>>26395745
You clearly don't understand how options work. An option contract gives you the exposure of 100 shares of stocks so 98 contracts means he had the exposure of 9800 shares of stock which mean if the stock goes up $10 dollars that's $10 x 9800 or $98,000. Since it's user-friendly Robinhood it tells you the price of the contract which is .057 but since it's per share it's x100 since a contract is 100 shares. So he paid about $5.07 x 98 or $497.56 for a total gain at the time of the screenshot of $117,000. Keep in mind this is in 1 day because it was a 0 day contract meaning he bought and sold on the same day. There are people who bought thousands of contracts today like the person in my picture who probably only paid a few thousand at most. Options are probably the fastest way to lose your money but if done correctly you can make unimaginable money in a very short amount of time.

Everyone on Reddit is saying shares but the real money is in options. This isn't me but this is an example of someone who apparently just bought hundreds of super out of the money weeklies.