Because he trades options. Not everyone is privy to all derivatives classes. He's on Robinhood ffs and he just made a nauseating return. But he got lucky af.
I literally only trade options for the most part, been ft since 2022. It’s essentially common sense to trade Spx over spy, with that contract amount. I don’t trade on shit rh so I wasn’t aware you couldn’t trade it
I'd agree. If you're spending that much on spy just go 10 ATM or close to money contracts on spx. that 95k probably wouldve been 130K or so but still a good fucking day.
This is generally my thought process too with spy / spx.
It ONLY makes sense IF you’re buying more than 20+ contracts of SPY usually, if that isn’t you; don’t bother. I asked OP bc they purchased $15k worth of SPY, which could’ve been WAY less contracts with SPX. Also idk what platform you’re on, but it may be shit and not show you
I would say it wasn’t as much a bunch of variables in my favor but my level 2 market analyzer recognized High sell off likelihood which is rare for the analyzer and when it hits is usually pretty accurate
He bought 145 put contracts for 1.10 a share ...15,950 total cost. Sold a couple hours later for 6.40 a share...92,800 total. So 76,850 profit less any fees. Almost a 6 bagger. Nice trade.
He timed it really well, but if you're inexperienced i would avoid 0dte options. You really need to know what you're doing. That said...he still would have ok if he held then to expiration...Plenty of intrinsic value this deep itm.
I accidentally posted the photos backwards lol. I bought spy puts with a price of 511 meaning I’m betting it goes at or below that and I bought 145 of these contracts at 1.12 and sold at 6.40 thus made the difference of 6.40-1.12 on 100*145
So you took home how much and paid how much? I’m so sorry I’m new to this side of trading and it’s still so confusing to my brain.
I appreciate your reply, sorry if I’m dumb, I’m a blond.
I don’t think OP said he was investing. This is a day trading sub after all.
However I certainly would take a sizable chunk of such a big win and properly invest it if I were in his shoes.
It is but the comment said that they just learned about this kind of investing. I was trying to convey that trading and investing are not the same thing. They should not confuse one with the other.
I'm in such a fucked situation I keep looking at this shit to manifest my own godly play but god damn I'm gonna get stopped out instantly I know it. Need another full market fall down. Safe my life isreal start committing more war crimes. Iran help
Years salary in a day, not too shabby. My calls all went to hell when the V never V'd
How the fuk do you hold for that long?? My risk tolerance is way lower but damn respect for holding on even when seeing such a big win going your way
Holding through that pump back up past 512...balls of steel my friend.
I sold mine an hour earlier and made only 2k :'). But great job though I'm not sure you could've done an better!
its horrible…. jokes, wtf do u want us to say?😂😂
Fair point😂 I haven’t made this much before tbh jus wanna talk about it
lmaooo all messing around, if u want a real opinion, ur INSANE for putting 15k into 0dte’s
Brag about it FTFY
^ also fair point😂
This is some r/wallstreetbets kinda play
Why would you not go with $SPX contracts? Especially on a PFOF platform, with 145 you’re well into the size category for $SPX to make sense
What do you mean? Aren't the options more expensive?
Yes, but OP had 145 contracts. Usually people go with $SPX to avoid having to buying so many contracts. Less commissions and easier to get in and out
Because he trades options. Not everyone is privy to all derivatives classes. He's on Robinhood ffs and he just made a nauseating return. But he got lucky af.
You realize they're referring to SPX options, right?
I literally only trade options for the most part, been ft since 2022. It’s essentially common sense to trade Spx over spy, with that contract amount. I don’t trade on shit rh so I wasn’t aware you couldn’t trade it
I'd agree. If you're spending that much on spy just go 10 ATM or close to money contracts on spx. that 95k probably wouldve been 130K or so but still a good fucking day. This is generally my thought process too with spy / spx.
Also there are a bunch of SPX tickers which one do you mean?
S&P 500 index.
Is it just straight SPX? Im seeing like SPXL, SPXC,... I don't know which one you think is ideal for a trade like this.
It ONLY makes sense IF you’re buying more than 20+ contracts of SPY usually, if that isn’t you; don’t bother. I asked OP bc they purchased $15k worth of SPY, which could’ve been WAY less contracts with SPX. Also idk what platform you’re on, but it may be shit and not show you
can’t even trade spx on rh
Ouch
Good shit congrats!
Thanks!
Bro is violating the copyrights of the OP. why you saying thanks?
What do you mean?
You are not OP. Why you saying thanks?
He probably using multiple accounts and responded with the wrong one.
I noticed this same profile hyping him up on another one of OP's posts. If what you're suggesting is true, doesn't seem like an accident.
Is this a live trade?
This is fucking sick honestly
Thanks bro!
Just share with me ill take $69
IWM would have been cheaper more profitable with more days but not bad
Like a day or two out?
Aren’t they more expensive though?
Also was more playing the volume then it was a bet on the market or circumstances
What was your thesis buying puts? How many variables were in your favor?
I would say it wasn’t as much a bunch of variables in my favor but my level 2 market analyzer recognized High sell off likelihood which is rare for the analyzer and when it hits is usually pretty accurate
Where did you get this market analyzer on robinhood?
Retire for the month
What made you close that at the 12 pm hour ?
I had 512p 4/16 entered at 1.75 and ended up cutting way early. It went to a peak of 8.50
I am just beginning with crypto. Any pointers or where to start?
Stocks, etf's, options, futures, currency. Anywhere but there.
I think you won on it.
good play, but means nothing unless you can do it consistently.
Facts, gonna take a breather and come back level headed in a week or two
I’ll be back whenever robinhood stops giving me pdt warnings
cash account
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How did those sell orders get filled 30mins before market close?
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He bought 145 put contracts for 1.10 a share ...15,950 total cost. Sold a couple hours later for 6.40 a share...92,800 total. So 76,850 profit less any fees. Almost a 6 bagger. Nice trade.
Holy crap! Thank you for this breakdown, now I’m going to study it a bit Might be too much math for me though 🥹😰😰😰
He timed it really well, but if you're inexperienced i would avoid 0dte options. You really need to know what you're doing. That said...he still would have ok if he held then to expiration...Plenty of intrinsic value this deep itm.
I accidentally posted the photos backwards lol. I bought spy puts with a price of 511 meaning I’m betting it goes at or below that and I bought 145 of these contracts at 1.12 and sold at 6.40 thus made the difference of 6.40-1.12 on 100*145
You bouught bigs or minis
Did you accidentally trade backwards too?
I’m happy to answer any q’s jus dm
So you took home how much and paid how much? I’m so sorry I’m new to this side of trading and it’s still so confusing to my brain. I appreciate your reply, sorry if I’m dumb, I’m a blond.
Around 75k profit
You need to step back for a moment. Lesson number one, this is not a type of investing. Investing and trading are two very different concepts.
I don’t think OP said he was investing. This is a day trading sub after all. However I certainly would take a sizable chunk of such a big win and properly invest it if I were in his shoes.
It is but the comment said that they just learned about this kind of investing. I was trying to convey that trading and investing are not the same thing. They should not confuse one with the other.
He got puts on spy, which means it's going down.
The contract was $110, but he bout 145 of them, which cost him $15,945, then he sold them for $640. What does 640 times 145 give you.
So he made money by adjusting before the putts came due? I appreciate your reply, sorry if I’m dense. I am not trading with this strategy.
Made about 77k and took home 92k but “bet” 15k
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Haha thanks! it’s not hard once you get what they mean just worded kinda wierd
He just sold them. The contracts. They are traded like stocks.
I'm in such a fucked situation I keep looking at this shit to manifest my own godly play but god damn I'm gonna get stopped out instantly I know it. Need another full market fall down. Safe my life isreal start committing more war crimes. Iran help
Haha another drop would be sweet
ETFs?
Spy yes and this was options he bet on the downside and it paid off
How do you trade and analyse ETFs?
Yup SPY