/biz/ - Business & Finance

this shit has convinced me to get into options. i bought nokia and corsair calls earlier

>Error: No text entered.

>>26395581
You and every retard. Time to sell

>>26395540
bitcoin
5 000 -> 40 000 NO TAX
gay option
40 -> 70
keep buying your gay boomer stock and stay on reddit retard

>>26395745
feds are gonna come after you

Lol noobshit. Get mara and riot instead fuckin noob

>>26395808
and theyll get nothing

>>26395808
they can come i'm a millionair now anon i don't even give a shit anymore. I'm planning to move out of this shit country the moment corona calms down a little since the vaccine is being distributed I'm going to move to europe probably in the Netherlands. i hope you can feel this way one day when your boomer stock does a +20% again

>>26395745
>Stonks
Guy in pic bought $500 of call options at open and cashed out this afternoon at $100,000. I know that shit doesn't happen every day, but two weeks ago I traded F, each contract was 1 cent on Monday the 11th at open and 12 cents by Wednesday. Safer trade was still up 8x. Y'all "30x in a few years just HODL" bustas.

>>26395964
can you fucking read nigger ? the whole crypto market has been doing 2X 10X and even 100X for a month now

>>26396070
Yes anon doubling or adding 10x to your money in 2 months is clearly better than 8-200x in a day or two I'm sorry I see the error of my ways.

>>26396070
Bro they have a point, while biz was being flooded by pajeets scams, reddit was making money /smg/ threads don't even last an hour here

>>26396294
The problem is day trading limits for poorfags, and ITM calls or going long is sometimes prohibitively expensive

>>26396306
go back faggot

Well that was a retarded optio :D my god, he was just lucky, good for him thought

Can someone explain calls and puts please? it just looks like complete luck, like the CLF guy.

>>26396545
Topkek

>>26396545
https://www.youtube.com/watch?v=SD7sw0bf1ms

>>26396306
get the fuck

>>26396545
Options are derivatives, they give you the right to purchase a stock at a certain price so they're basically bets that a stock will be at a certain price on a certain date. If you think the price will go up, you buy a call, if you think it will go down, you buy a put. They're sold in contracts that represent 100 shares, so if the option price is $1 you can buy 1 contract for $100. The price of the contract is based on how likely the underlying stock is to be "in the money" (at or past the "strike price"), the time until the option must be "exercised" or expire worthless, the distance the actual stock price is from that strike price, etc.

Basically what happened with this dude is that he bought contracts that were almost worthless because they were going to expire today and the stock price of GameStop was WAY below the strike price, and no one thought it would get there before the option expired. Except it did, GME jumped 69% (kek) for a variety of reasons that WSB had anticipated (and probably helped). So suddenly dude was holding the right to purchase thousands of shares of GME at $60 when the price became like $70, on the day that right expired. He sold the rights to someone who probably also copped a decent bag, but since he held from when they were worthless to when they were worth a LOT he realized those gains.

>>26396905
This is a great explanation

>>26395745
how to avoid paying tax on crypto pls aware me

What are you talking about? SMG was shilling GME months ago, I bought at 7$ lolol

>>26395540
survivorship bias. Wallstreetbets loses a lot of their shit on bad calls all the time.

>>26395884
move to the east. Singapore, korea, japan.
I'm in Aus and our tax here ATM is pretty fair etc but still

/smg/ was shilling this in august, red dit just follows along.

>>26397493
Americans have to pay income/capital gains tax anywhere they live, offset by whatever foreign taxes they may owe. That's the price of holding this citizenship so the elite better not fuck this up for us.

>>26395884
Why the NL? They’re pretty cucked.

>>26395884
The virus isn't going to calm down because the vaccine is being distributed. Are you retarded? Have you not being paying attention to what is going on?

>>26396306
They're angry because you're right
This board is a really vile poker table, everyone trying to dump on, bait, and overall scam each other oir in some cases) reverse fud people out of good coins so that they can laugh at them when they sell too early or dont buy at all.
At least the fags on that reddit actually cooperated and helped each other make it.
That's why seeing rubic spam pisses me off, they act like its "/biz/'s coin" when in reality it's another dumb pump and dump organized by a discord relentlessly (yeah theres a lot of psyops going on here).
But that's the truth of money:
Everyone is a greedy jew who will sell their own mother if it can 5x their profit.
The only good thing here is breadcrumbs and the wealth Blackpill.
Be warned, the neets here getting rich are some of the most irredeemable subhunans on the planet, the great reset, singularity, whatever is gonna be disgusting

>>26395540
oh no Reddit are doing well I don't give a fuck like most of the people who read your threads.

>>26398453
To be fair WSB is less Reddit than 4chan.

>>26398453
This is about money anon, not mene rivalry bullshit

>>26398617
But we arent making it the normie way and dont need to depend on gibs so SHUTITDOWN

I prefer being poor than being a tranny

not gonna lie

>>26398453
based rekt

>>26398735
imagine a world where you werent constantly trying to rally idiots towards a group effort and just had you ups and downs while learning lots. That sounds fucking awful anon.

How long before WSB gets #canceled?

>>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.

>>26395964
motherfucker RBC went up over 1000% this week. up 2400%+ in the last two weeks. way easier to make huge gains in crypto

>>26398521
I have an inkling that WSB is essentially where anon of old went when they realized oh hey I should try to not be poor. That place feels more like old /b/ or /a/ than anywhere I've been in the past decade, except maybe the first two weeks of /s4s/ and /trash/.

>>26395540
Yummy. My gainz

>>26395540
the usd is fucked anyhow.
could buy wow gold and jerk off on yuge gains