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Hey you guys remember this thread?
This guy just lost a few grand because he bought illiquid calls and puts even though he didnt know the difference between a strike and a stock price. Didnt understand what a bid or ask was.
He didnt listen to 1 single piece of advice I gave. https://twitter.com/CraigChrist_/status/1268573507916627976
This guy just lost a few grand because he bought illiquid calls and puts even though he didnt know the difference between a strike and a stock price. Didnt understand what a bid or ask was.
He didnt listen to 1 single piece of advice I gave. https://twitter.com/CraigChrist_/status/1268573507916627976
Note the word he used was "invest"
Buying calls and puts that are 6% out of the money that expire tomorrow sure is an odd definition of investing
Buying calls and puts that are 6% out of the money that expire tomorrow sure is an odd definition of investing
LMAO alright 1 more addition.
He asks me what he should do.
I try 1 last time to explain basic risk management. I explain that they will expire worthless if he doesnt sell today because theres no way the stocks he picks are gonna swing 7%.
"I will hold to 0 then as im down"
He asks me what he should do.
I try 1 last time to explain basic risk management. I explain that they will expire worthless if he doesnt sell today because theres no way the stocks he picks are gonna swing 7%.
"I will hold to 0 then as im down"
"Hey you have like a 2% chance to turn a profit on these positions, but if you sell today you can at least save 200-300 bucks. "
"Nah im already down so much i might as well just hold to 0"
dope
"Nah im already down so much i might as well just hold to 0"
dope
update: asks if spending 600 on a call for tomorrow if that will negate it
explain that u will still lose money if the stock doesnt go up because even an ITM call expiring tomorrows breakeven cost is gonna be above the strike
"ok so ill just let these expire then and try again"
explain that u will still lose money if the stock doesnt go up because even an ITM call expiring tomorrows breakeven cost is gonna be above the strike
"ok so ill just let these expire then and try again"
he told me he lost 10k and wants me to tell him next time i see something that will pop
lol
lol
