Just promise us here at ET that when crazy news hits like Elon Musk accepting GME shares in exchange for Tesla’s and this shit gaps up to $1k overnight...you don’t do something stupid like give your toaster swimming lessons in the bathtub.
Look at the first post...if you add up all the contract value at that time is comes to ~$30k...but look above...it shows a current loss of $60k...because he lost $60 of the $90k he spent in premium the first day and only had $30k value remaining. The update I posted shows he lost $91k total basically 100% lol.
Yeah, I do not like the interface. It is not showing what his original cost is on those positions. So wow.
But nobody here in the options world has told me why it would be sane to buy a $510 call expiring in a week, or even those layered calls the guy did this week, with 2DTE? Hello? What was the reasoning for it?
The reason is that the guy is retarded...it was a $90k lottery ticket...the guy probably expected it to go to ATH by the end of Friday. Just an all around horrendous play even the folks at WSB are In Awe of how idiotic a move it was. There is no logical explanation...the dude just discovered options and thought that was the way to go haha.
Thank you for reinforcing the idea in my head that I am not THAT stupid in trying to understand options,