$160K on SWKS Options

Discussion in 'Options' started by guru, Nov 1, 2019.

  1. guru

    guru

    Not mine, just picked this off of Twitter and thought it was an interesting trade (interesting because some people ask for details on trades that generate 1000%+), albeit a little lucky. Not sure of the details, but I believe he held $100 calls exp Nov 15 2019, worth $0.25 recently, today went up to $2.50.

    Actually not sure if this makes sense, if he made $160K on a 10x move then he'd have to have $16K worth of those calls on a $40K account. Though he holds long-term, so he could've scalped them for $0.10 or less during last few weeks.

    BTW, is there an options porn thread on ET where such posts might belong?

    upload_2019-11-1_12-9-34.png
     
    Last edited: Nov 1, 2019
  2. ET180

    ET180

    I bet his account was higher at the start of the year. He's gambling.
     
    nooby_mcnoob, d08 and guru like this.
  3. ZBZB

    ZBZB

    nooby_mcnoob, jys78 and guru like this.
  4. ZBZB

    ZBZB

    If you sell credit spreads and buy options. A risk reversal then you can be in business for a while.
     
    guru likes this.
  5. S2007S

    S2007S



    $16k worth of calls on a $40k account, talk about insane risk...that's what some of these people do, I saw a guy do this recently however the amount of risk cost him many dollars, he doubled his account in weeks and lost it all. I can never take such risk. Especially when you are playing with more than 1/2 of your portfolio on options. One wrong move and it could take you years and years to get back up to where you were.
     
    ET180 likes this.
  6. S2007S

    S2007S


    Where could I find an example of such a trade? I started trading options but very very basic.
     
  7. ironchef

    ironchef

    upload_2019-11-1_21-21-40.png
     
  8. d08

    d08

    These threads are anecdotal. Throwing darts, one will hit the mark.
     
    comagnum likes this.
  9. ZBZB

    ZBZB

    google risk reversal
     
  10. ZBZB

    ZBZB

    #10     Nov 2, 2019