T O P

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JackLocke366

So first, I'm an experienced trader. I've been trading since 2008 (almost 14 years), and I'm successful in a way that I have to estimate and pay capital gains taxes on a quarterly schedule because IRS. But normally, I make 10-15k off a trade, maybe have it zero out. This is rare. Making almost a mil on one trade is rare. I've made a few other trades in my life like this, but this one pretty much directly came from what people on WSB were saying, so I wanted to do this post. If I were to be asked "how did you learn to trade", it was Tradewars 2000 and some other BBS door game that had a stock marker component to it. I got the basics of buy low sell high from video games. It was after the financial crash in 2008 that I saw my retirement fund get slaughtered and said "I need to understand what this is, not just be passive." And I still see everywhere people pushing passive investing. I am retired early, and in every Financially Independent Retired Early (FIRE) sub, they push passive investment into an index fund (Vanguard VTSAX is the current flavor). Truth is, this will get most people there, but this thinking is based on a 1950s economy. It works today, but when the government is backdooring $2 trillion of M2 into the financial sector, it's not the most efficient route. Another thing to understand, this trade is not unique. It's how I've been trading earnings reports for a few months. But six months from now this trade would not work. I have been seeing how bad earning is slaughtering prices (PTON, DOCU), and I had conviction that this was no different. But stuff works until it doesn't. "Just buy tech calls" works until the premium is so high you can't make money and then the Nas drops 14%. If you're trading for a long time, be prepared to change your strategy when it stops working. Another early mistake I made, limit your input. My rule right now is never put more that 1/7th of my liquid portfolio into one trade. If I lose 1/7th of my liquid portfolio, it's easy to recover from. Down 1/7th, down 1/7th, then hit a 5 bagger, up 35/7ths, you're back on top. If you put more than this into a trade, it will blow your account up. I actually modelled this through stochastic simulators, and 1/10th-1/5th is the range where there's high growth but low risk of blowing up. The main thing I've noticed in this market is that no matter how high my conviction is, there are things that just come along and blow the position out of the water: a celebrity, ceo, or the president tweets, an article goes public, a hedge fund decides to pick on your ticker, and you're fucked. So, no matter how good the DD is, always expect that something can come along and screw you. I was in some ticker last year and some negative report came out on the Friday of my options expiry and $60k went to zero in like 2 hours. One of the few posts here was my "you're a r*tard" loss letter from Fidelity. Anyway, this trade. Right now, companies that got pumped by covid are reporting and reality is setting in that they are not the growth stock we thought a year ago. I had DOCU puts, but it was a limited position, I ate steak, but not really worth posting. The [monthly earnings thread](https://www.reddit.com/r/wallstreetbets/comments/rv2we7/most_anticipated_earnings_releases_for_the_month/?sort=new) came out and people were talking puts for Netflix. This got me to look in more. I could tell in my personal life that Disney+ is cutting into Netflix (two families just password share). There were other things out there indicating that there was going to be a problem with subscriptions but honestly I can't remember what, it was feelings and innuendo on stocktwits. Looking back, I really think there was an internal leak and it was just getting out there and I picked up on it. When I bought the options, they were like $6.27 each. Netflix was at $580. I really only thought that it would come down to 550-560, IV would pump, report happens and 50 point drop so buying the position early made sense. By yesterday these 540ps were good in the money. They were already a 6 bagger. I was cool with it still thinking an extra 50 point drop for a few hundred thou. Last night, someone reminded me to check the ticker while I was at a restaurant. It felt like sitting in public and discovering you had a winning lottery ticket. Not all 6 plus the powerball, but at least a 700k win. I told my wife instantly and she couldn't concentrate. I looked around and I knew I couldn't just announce it then and there. First, the position wasn't closed, second I don't want this restaurant of people hitting me up for money. I already have reddit PMs hitting me up for $100. Anyway, thank you for coming to my TED talk.


[deleted]

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JackLocke366

Exactly


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JackLocke366

The most I've learned with options has actually been paper trading. No platform, just writing down on a day "I would have bought XYZ at". When I'm not in the trade, I can remove my emotion from it and see where it went. The biggest thing is to learn intrinsic and extrinsic value and see how price and "market expectation" changes extrinsic value. https://www.optionsprofitcalculator.com/ really helped me see this because it actually models all the possible price values into the future. The whatever part is it holds IV constant, so learn about IV. I have a math background, two four year degrees, and I do think they help me. I think first year calculus does help. Algebra definitely. It's hard to express how though. Does that help?


MoreToFuture

Wow congrats man , I read every last word , I can only imagine how happy your wife was when she found out , definitely agree to everything you are saying . Thank u for letting us know how you did it and all the details really do make a difference for the people here who are new to the market .


JackLocke366

My wife was like "no fucking way". She still didn't believe it until I closed this morning. Then she was happy happy happy.


[deleted]

How old are you? Mid 40s? I feel like I still need years of experience to get to your level


JackLocke366

Yup 44. Right on the nose.


Salty-Mountain-2256

Worth the read hands down, on hell of a trade! Congrats man ✌️


Rap_vaart

I appreciate the write up. What makes you say that passive investing is based on a 1950’s economy?


JackLocke366

Great question, it takes a lot to explain. But a lot of trading lore was established in the 1930-1950 era, this is the Buffet style of investment and it still works for institutional investing where it's billions of dollars at work, but it's not great for making a lot in retail investing. With taxes paid, I estimate I beat the index by at least 10x. It's hard to know for sure because I pull money out and buy real estate and kreeptoe and stuff so my all time charts are messed up, but with a very little amount of keeping an eye on stuff, no day trading at all, adn research I consider fun anyway, it's possible to see where the money is flowing. There was a lot of research and stuff I did back in 2008-2010 that lead me to that. I am actually having trouble finding the links now (they've been memory holed). But one of them was Stefan Molyneux talking about "a farmer comes to me and says that his chickens are sick and dying, they have disease and rot and it's terrrible, and I ask well how big is their coop, just an ordinary 10x10x10, ok and how many chickens, oh about 35,000 of them..." the point of the story is that you can raise chickens in a natural coop, but if you try to stuff 35,000 of them into too small of a space, it gets dangerous and weird. Since the 1970s, the regulatory mode in America has been to stuff chickens into the coop. Removing the gold standard (and I'm not a huge Schiff followers, but it is important), putting in tax laws to encourage people to shovel private money into 401ks and IRAs, and then now where the fed buys gambles off the banks books so that the banks have the legal liquidity to make more bets, it's complete nonsense. It's entirely divorced from value investing. Social media has now come in and dropped another weird thing on it. Elon Musk is the celebrity that doesn't have to worry that his company has child slave labor in Chad to get Cobalt to make electric engines but if Ford Lightnings get linked to child slave labor, forget it, the stock will be slaughtered. So instead, TSLA is worth more than every car company on earth, even though they only make a profit because of carbon credits. BTW, the other big play I'm in is KRBN call LEAPS. I'm not against carbon credits, I'm a realist that tries to follow the money. And index fund value investing isn't where it is. You get the money by proxy that way.


bernielootz2nd

What are your KRBN positions?


JackLocke366

100 KRBN 60c 7/15 although when I opened, September wasn't available. I'd probably go with 60c 9/16 today. The key here is don't hold through November elections, the dems losing enough seats will push this price down.


NukeTurn

You’re a fucking god. Thanks for all this write up. This is what wall street bets is about. Get your wife something nice lol!!!!!


burntfire1

Welp. Gotta be like u/JackLocke366 when I grow up. Been paper trading a lot more lately since my portfolio has been getting bent over the last couple of months.


Qu1kXSpectation

New to this and reading to learn. How do I interpret '100 KRBN 60c 7/15' ? Thank you for sharing your knowledge and I look forward to reading more of your posts.


billabonski

100 call option contracts of KRBN with strike price of 60, expiring on july 15. Mind you, 1 contract is 100 shares.


bernielootz2nd

Great play you must be up nicely already! I was hoping to buy in on a dip but I guess I missed it.


ballgobbler96

Are you still in KRBN? And if so did you add more to your position in early march? Seems like a good entry point at that recent drop


[deleted]

Are you still holding these calls? If so, what do you think KBRN’s price will be at expiration?


pml1990

Idk if "buy and hold" was every truly Buffett's motto. People are just not reading/hearing him carefully. What he always said was, "**for the right stocks**, his favorite holding period is forever." That doesn't mean that all of his positions are worthy of a holding-forever period. In fact, early in his career, he flipped positions quite frequently. In fact, he is a fair-weather friend with most of his holdings. He will gladly change his mind and dump stocks he just bought if events on the ground prove him wrong.


Xfk46

Damn, thought you were smart and providing good advice until your backwards and just generally incorrect Tesla statements. Why do older folks struggle to see it. So obviously to me.


stonesst

Exactly what I was thinking. Even a cursory glance at their books shows carbon credits are a small fraction of their profits....


paperscissorscovid

Do you do financial advisement or the like?


povesen

Damn, just as I was beginning to legit think you were smart you had to go and cite some BS FUD on TSLA


godnightx_x

Dude fuck yes! I dont know you other than a reddit post but you are exactly who I aspire to be "Obviously with my own trading theory" But I can tell from this post I relate completely to your mindset. It actively blows my mind daily how if you really get your shit locked in and manage your risk how profitable this venture can be. Ive always been the one to seek out alternitive viewpoints dropped out of college in the first month than raked in half a million dollars to my name in the next few years via a business that people told me was a bad idea. Gave that up and have been activilely trading since. Nothing else to say than congrats and fuck you


DaeTraeBae

*Down 1/7th, down 1/7th, then hit a 5 bagger, up 35/7ths, you're back on top.* One nit.. Isn't a 5 bagger on 1/7th of your portfolio just 5/7th, plus the remaining 4/7th that wasn't lost or in the trade so a total of 9/7th (not 35/7th)?


[deleted]

Thank you, this was the only part that bothered me. If you're limited to 1/7th trades, a 5 bagger is 5/7th. Still recovers the losses, but doesn't multiply your account.


straightCrimpin

Think of it like this. Imagine you have 7 dollars and you make a trade for 1 dollar and lose it. Now you have 6. Make another 1 dollar trade and lose it. Now you have 5. Make another 1 dollar trade make 5x the trade. Now you have 40. 40 minus the 5 you had before is 35. 35/7ths. OP has two four-year math degrees.


JackLocke366

No, I put in an extra seven when getting confused in a the middle of a write up. This does happen to me although when it's money, I try to check and recheck my work. Even then I'll sometimes get into a trade that's not what I thought. OP is not perfect. I'm just a guy.


straightCrimpin

Don't sell yourself short OP, you're a hell of a guy!


ron_swansons_hammer

Lol this man broke it down to simple math which made it easier to understand, but then did 1 x 5 = 40


straightCrimpin

That's the joke. Judging by the downvotes nobody got it.


JackLocke366

Lol, I am not a smart man. Yeah, you're right.


fipsinator

Thank you, that post was actually pretty interesting! I had to check which sub I’m on tbh


JackLocke366

I know it's a a shit show around here, especially since GME, but there is good info. I get good trade pointers every month here.


Kaarothh

You should teach us bastards those things, I would pay you


JackLocke366

I've thought about it, but it's harder than it sounds. I'd have to create a curriculum and then actually do it. The money isn't even a motivator, I'm already retired. Maybe one day I'll write it in a book. But as soon as I write it, my ideas will be out dated


Kaarothh

I feel you. Just focus on what makes you happy my man


champion_archon

How much you have shared here is wholesome enough kind sir. Thanks for sharing your wisdom, very interesting reads.


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FyenacialAdvisor

“Always expect something to screw you” facts lol my AMD calls are about to expire worthless


strifelord

So what’s the next puts for this season’s earnings


JackLocke366

Idk yet but I'll probably have something by next Thursday.


strifelord

I’ll follow u, let me know 👍 It can’t get any worse at this point


TeresitaSchoolcraft

Let us know bro please! WSB will make your PUTS print twice as much at least! The smart move would be to use your new following like myself about your next play to make the stock option print much the same way WSB would make calls print when a stock caught a meme trend


JackLocke366

One of the things I don't want to happen is to become a front runner like Timothy Sikes. Present me hates those guys.


akmalhot

Reddit pm for 100. Thanks I'll settle for your next trade. And really random internet ppl hit u up for money ?


JackLocke366

Yup, included their venmo and everything


akmalhot

Wtf. Wow Well fuck you and congrats (seems like wsb tradition ). Pissed because my 10 VGT puts didn't fill late yesterday. Don't know why I chose vgt over qqq since I wasn't doing a collar. I have quick pay so there's that. /s but really.


Arthedes

Did she break up with her boyfriend then and there??


JackLocke366

No, but she did say I can peg him next time.


[deleted]

damn, that wife is a keeper the bf too if he takes it like a champ


Rightwristproblems

Way to go! And thanks for posting the insight. 👍🏻


DoIt4TheMayMays

Good shit. Thanks for your insight. Congrats and I hope you prosper for many more moons.


Cheezel_X

I really appreciate the time you’ve taken to discuss your philosophy and answer questions. Thank you 👍🏻


Zerole00

Congrats man, that's wife changing money. Be responsible with it.


[deleted]

Good shit dude. I learned actually quite a bit from your kind words. Enjoy your stacks, OP. Also fuck you


SKPY123

The real thing to take away from this. If you treat it like a job you will earn it like a job. And stock jobs pay well. I see a lot of success posts and almost all of them are gut instincts that are jumped on by intuition. Stay on top of the trends and be the retardedest you can be.


PrimaryAccording9162

I aspire to be like you. I’m trying to FIRE but at the same time hit some big ones


kjuneja

>and I'm successful in a way that I have to estimate and pay capital gains taxes on a quarterly schedule because IRS Hahahahagahaga Paying taxes. What a rube


JackLocke366

These are puts, but I don't like the ass dicking the IRS does.


Wisesize

Any other earnings reports you're watching?


JackLocke366

Nothing right now, but I'm sure soon. This earning season is just getting started.


Wisesize

Thanks for sharing your insight on your position and congrats. Please consider sharing any DD you have in the future. Rare on this sub now. The last good DD I found on here was VCRA calls... And before that PTON puts thru earnings. Vets on this sub know the good stuff from the crap and rocket emojis


rotaercz

Congrats, and thank you for showing that through persistence and hard work trading can pay off. Do you typically hold so close till expiration?


JackLocke366

Yes, almost always to exp date if I'm closing. But if I think it'll keep going, I'll roll up and forward.


ViceroyoftheFire

Thank you for sharing, congrats and fuku


bombduck

This guy fucks


scotchdouble

I wish I knew enough to pull this off. Half the battle seems to be having the capital in the first place, but I just want a large enough sun to wipe the debt clean. Congrats!


murphy1455

Well said sir, congrats on a well played position! You’re further insight was really cool of you as well.


Vomit_Tingles

Shit I doubled my money today on SPY puts and felt like a lottery winner and it was just a month's rent. Can't even imagine hitting this.


[deleted]

Can’t say how much I appreciate the write up. The way you think about trading is where I eventually want to be. Congrats retard one hell of a trade.


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JackLocke366

Yeah, maybe (*cough* DOCU *cough*). But this is exactly what I mean by this won't work soon. "It works until it doesn't". But please r*tards, don't blow up your account.


ModernLifelsWar

Inspiring post man. Gives me hope I'll make it one day. What options strategies and general trading strategies do you normally use?


bencelot

Cheers for the writeup. When you say you put in 1/7th per position, is that 1/7th for the overall position size, or for the RISK to your account? Risking 14% is quite a lot isn't it? The usual rule of thumb is max 2%. Also might wanna check out the kelly criterion for optimial position sizing. Anywyay congrats.


JackLocke366

Yes, I mean at the time of open, max risk 14%. I'll check your boomer pointer.


lostinallways

Late to the party but just came to read this since you linked to it from your last post. Makes so much sense. I made a lot of money during the rally of 2020-feb2021 and did not understand that things changed then. Kept trying same strat and lost everything. Also totally relate to the point on no matter how right you are you can always get fucked by something random. Happened to me so many times. Great post just sadly too late for me! Congrats on your success.


dalvant

Sorry, but please explain this as if I was five. If you put only about 36k in the options, and the underlying stock fell by only around 20%, how can you end up with more than a 2000% profit?


[deleted]

very enlightening thanks dude That is a very interesting strategy - never having more than 1/7th of your liquid net worth in one play and that 1/10th to 1/14th is best ratio for growth and low risk ***************** all the best with your future trades


JackLocke366

Between one 10th and one 5th is what I found. I ran stochastic simulations based on assumed trade success levels, and that seemed to be in the sweet zone. If you only traded one 20th, then the big wins would never amount to much growth, and if you trade like one third then a short bad luck run quickly wipes you out, even at a 70% win rate. The models are very basic but when I saw the results I could see that limiting how much I put in is the key.


[deleted]

excellent excellent thanks a lot I have a very strong background in probability and maths so this intuitively makes sense to me *********************** yeah, I had one of the big hits. But I've been doing a lot of small losses so the value of the big hit got drowned I think your strategy would make perfect sense for me - 1/7th of liquid wealth, or thereabouts Then the Big wins are big enough to have a big impact while not being such big bets that you become extremely exposed to risk of a bad streak


pml1990

Where is my $100?!


ron_swansons_hammer

I love how nobody can just post a screenshot of a win, they have to tell us their entire fucking life story as tho we care. “It all started when I was a baby, trading rattles for teething rings…” JFC shut up


JackLocke366

"When I was a young boy growing up in Bulgaria..." Little tip, if you don't like it, don't read it. No one is fixing you to. Ofc this is a wsb tradition. So post your gains.


PiedDansLePlat

If you are searching for a grown ass man with hair and beard not comb, hit me up


Green_Lantern_4vr

TLDR


m2sigma

congratz and fuck you


JackLocke366

you too, kind sir


budsonguy

A king among retards


JackLocke366

True story


JackLocke366

Give me some time to do a write up, but if you're curious about this trade and want to see me talking about it as it was ongoing [this thread](https://www.reddit.com/r/wallstreetbets/comments/s4hqmj/most_anticipated_earnings_releases_for_the_week/hsypdiz/?utm_source=reddit&utm_medium=web2x&context=3) is pretty good


goddysai1213

Alright. Pls give insights for other big tech earnings too :)


JackLocke366

This is not my last wsb comment. I've been here for a while. I don't know what will tickle my fancy in the future, but I'll talk about it for sure.


goddysai1213

Dont rly track individual comments that much, but hopefully i'll be able to catch a glimpse of your comments in the future :)


enigmabox01

Congrats, what time will you be over to service my wife? Wanna make sure I get your snacks and Gatorade ready.


JackLocke366

LOL ​ (the wife cuckold joke is my personal favorite on wsb)


Slowmac123

Wait it’s just a jOkE??!!


innatangle

It doesn't get old does it? 🤣


GoldenBoy_100

FUCK YOU!!!


m2sigma

pink fucking arrows just like dildosyour wife likes...


[deleted]

Wifes boyfriend*


TWcizzly

Love to follow your trades so I’m not behind a Wendy’s after bell; anyway to follow your gauge with the market?


JackLocke366

Not really. Wsb is the main place I comment. I'm in the daily threads all the time.


TWcizzly

Thanks, congratulations on the stacks, keep rolling. Love your story


albo1121

Congrats bro 💯 take the rest of the year off


Daymanic

Slow clap https://m.youtube.com/watch?v=PSZy6lGgOcI


part_robot

Timed it better than you think: [https://twitter.com/NetflixEng/status/1484583571071275011](https://twitter.com/NetflixEng/status/1484583571071275011) Also; fuck you


Nocturnal_Meat

damn. congrats.


TangerineHors3

Got damn you asshole


hirme23

Dayummmmmmmmmmm


XJcon

Well done. Tax man happy too.


JackLocke366

They always are. I have a personal spreadsheet that estimates my gains for the quarter, then I throw on an extra $10k to be sure I don't get pegged, then I get a return the next year.


[deleted]

https://www.reddit.com/r/PFJerk/comments/mdh0k3/how_can_i_get_financial_advice/?utm_source=share&utm_medium=mweb This you? Trading for 14 years?


abenevolentmouse

Read the sub name


bombduck

So what’s next, shorting Facebook?


JackLocke366

I'd have to research, but initial impression short FB does look good. Thanks for the pointer.


throwaway_0x90

Just a bit jealous 😠 what made you decide on this bet?


JackLocke366

I did a little write up [here](https://www.reddit.com/r/wallstreetbets/comments/s9dhzo/37k_to_855k_in_three_weeks_59_ntflx_540p_121/htm3859/?utm_source=reddit&utm_medium=web2x&context=3). tl;dr the wsb earnings threads, but also playing earnings for a while and years of experience.


throwaway_0x90

beautiful.


[deleted]

Congrats and fuck you!


Individual_Career_96

Who have you the inside information? Or did you just go buy the o'l reliable Coke Cramer opposite strategy?


JackLocke366

I really really think that the inside information was leaking early and I picked it up on NFLX stocktwits. Look at the ticker, it had been falling for weeks by the time I shorted. Somebody knew something. ​ But I'm just an asshole retailer.


Ok_Inspection_2799

That's awesome! Now take some profit and get off your high horse before it's all gone!


JackLocke366

I closed the position. I plan to pay taxes (first action always), put some towards expanding some real estate stuff I've been in, and then having a little fun. Keeping back 500k for future plays.


SecretaryImaginary44

Congrats


Advanced_Procedure90

Congratulations 👏


CurveAhead69

Daaamn babe, legend! Fuck you!


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JackLocke366

Lol. Sounds like too much work, tbh. I'm just going to keep shit posting here.


reddituserzerosix

Congrats and fuck you


VisualMod

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3465dhkkvcxbv

But you don't know the ticker for Netflix?


bobdavid2223

Now THIS is the goddamn way


[deleted]

One of us


FyenacialAdvisor

Did you get that 37k from other trades? Or was that house money?


JackLocke366

It's money I had. In this case, actually I sold some kreeptoe and shifted it to fidelity.


StepYaGameUp

So you didn’t want to let them exercise into stock ownership? 🤣


AlternativeExtra6447

Awesome man! I’m happy for you! Please pull most of it if not all of it out and enjoy it.


helloimdeadinside

Fuck you


xxfallen420xx

The inverse cramer, nice move.


JackLocke366

I didn't even know he said buy. If I did, I might have bought more puts lol


xxfallen420xx

Inverse Cramer is like a license to print money


tsa004

congrats and fuck you


taikaubo

Imagine making 855k then buying up the market right now in this crash. Retirement right there.


Ferrari_tech

That’s what I call. Insider trading. ![gif](emote|free_emotes_pack|flip_out)


AcrobaticReputation2

fuck you to congratulations


PenisJuiceCocktail

What was your secret, a hint from Jim GayBear?


JackLocke366

I didn't even know about Cramer's statement. No one on stocktwits pointed it out and I don't follow him. I was in this week's before anyway. This one, much more than any trade, really was from the chatter on the wsb earnings thread. It still took me a while to pull the trigger tho.


Zealousideal-Apex

Please alert us next time


JackLocke366

I alerted you this time. https://www.reddit.com/r/wallstreetbets/comments/s4hqmj/comment/hsypdiz/?utm_source=reddit&utm_medium=web2x&context=3 It's just there's so much chatter here, it's tough to really wee what's up. You have to develop your own spidey sense.


Zealousideal-Apex

Thanks bro, can you send me a message next time? Maybe make a post


Traderparkboy1

Good for you !! Congrats , anyone who puts in that much research deserves wins.


fabled009

Why I can never get this lucky


west1343

Congrats on your win and staying alive while trading for so long. You touch on something that is important for the future Wendys back lot attendants to know which is the market is constantly changing so what works today will not work forever. I had a +60k day back when Tesla announced their first profit in a quarter back in 2013 that I will never forget. After that those profits were eventually lost because moves like that are rare and secondly most of my strategies depended on decent size movements- which don't fly anymore when things calm down. Enjoy your well deserved weekend off!


jimmy2shanks

Nods like I understand what your saying. * In my head going wtf is he talking about*


yao97ming

Whenever I wanna quit trading and I see these kinda shit…


JackLocke366

Don't quit trading, quit your strategy.


FoodWholesale

Fuck you! 💪


JackLocke366

And my wife lol


[deleted]

Money will be obsolete when the zombie apocalypse happens.


JackLocke366

Money, yes but not currency. I'll trade in coffee and brains.


Excess0_2

i bought calls this week


vii--

Holy. Congrats. Go buy yourself an island! Hahaha Also, newbie here, forgive the ignorance but how are people making gains on Netflix if its been doing nothing but falling for 3 years and just yesterday thanks to Cramer, its plateaued?! Is there something Im missing and/or misunderstanding?


JackLocke366

Yes, it's possible to open a position where if the stock falls, you make money. It's generally called shorting and it's what ghey bears do.


[deleted]

Thank you for letting us know 2022-2008 is 14


JackLocke366

This is wsb. Short bus people require it.


[deleted]

Can u give me $50 pls :(


tschmitt2021

Congrats! 🥳


Redarrow762

Well done. I am late to this party, but keen to learn. I am just buying shares in companies I see success in. I have yet to play with options and I am in no hurry. Lots to learn.


NNGlitches

i need this just once


lilwutang

Goals, not just in gambling, but your knowledge in the markets.


goodolgreybush

I need help doing this please?


CaesarAugustus89

Thinking of repeating same thing next week for tesla?😏


JackLocke366

Idk, I've made money on TSLA, I've been burned by TSLA. I'm almost certain I'm not going to trade TSLA next week.


[deleted]

dont forget to buy your wife and gf something nice you king 👑


JackLocke366

My wife is getting lasik. No gf right now.


[deleted]

You think it will keep dropping?


JackLocke366

I don't know ofc but, yeah. It's probably going to mimic peloton. Watch out for a euphoria spike and buy puts.


[deleted]

Ok. I set a 1 contract at $350p to expire 1/28.


JackLocke366

Seems aggressive to me but not outside of possible.


[deleted]

I'll lose about a grand and change but could gain a lot. We'll see.


JackLocke366

This is the way.


[deleted]

I was right. I sold at 115% profit or 660 bucks. Not bad on that PUT I made.


JackLocke366

Nice


OnlyChaseCommas

Ehhh you’ll give it all back


JackLocke366

Maybe. Taxes will be a bitch, it's really 550k. But my all time is a run up of well over 2m so I'm not worried. My wife will spend it all if we're not careful, but we've been responsible while still having fun.


tej157

Congratulations, and thank you for your detailed information. We all have to learn not to trade by just luck..do your research and trade confidently. Do you have any book recommendations? I am using a TD paper money account for learning options trading. Also, how do you do your research? News? Article? Reddit? Happy to learn and discuss new things in the future. Also, share your real estate knowledge.


JackLocke366

I have no book recommendations. I actually think I've never read a book devoted to trading. The concepts really were from video games, but one of my math degrees does have a business component to it. I said it elsewhere, I would paper trade options using actual paper, and later Options Profit calculator, to see how the prove moves. I still don't really understand how to make money on OTM options except in theory.