161–170 of 277 posts
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This comment reads like a "they're really playing 4-dimensional chess" moment. There are definitely some smart people on wsb, but I very much doubt the use of silly language (like, say, calling bears "gay bears") is anything other than users being intentionally ridiculous and funny.
Stonks only go up. Why be a bear if stonks only go up? Makes no sense. [edit] to be clear, I'm parroting WSB.
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I highly suspect the reason for this is because there is less income security for the young generation in 2021 compared to 1999. In 1999, people under 40 were gambling large sums that, if lost, could be made back through x months of work. In 2021, people under 40 are gambling any random ad hoc payment they receive in the attempt of calling it a career. The reason? 10% of our country have great jobs, and the rest have…
The median bottom quintile of incomes is higher today in real terms than is was in the 1990s, and the median income is higher as well. https://www.census.gov/data/tables/time-series/demo/income-p...
https://www.pewresearch.org/ft_dual-income-households-1960-2...
I understand the nihilism. When you start earning vast sums of money very quickly, and see other people do the same, you start getting a sense that money isn’t really worth working all that hard for. I’ve been making about 5k or 6k a week regularly this past year in the stock market with little effort, through stock appreciation and selling options. It definitely makes me feel less motivated to do my job, but the one…
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>Taking credit card advances to YOLO into short-dated OTM call options is drug-addict level desperation. It's actually somewhat rational. Say you just graduated college and make 30k as a waiter. You scrape together savings, loans, CCs, etc. and pull together 20k. Take that to Robinhood 2-3x it with margin and place a 50k bet that has a 8% chance to pay off 10x. If you "win" you're up 15 years of wages or more. If you…
The sensible response from society is unfortunately restricting personal bankruptcy laws. Essentially this is an organized attack on civilized society and it needs to be shut down, somehow.
WSB is hilarious. It’s also such a place of sadness. Taking credit card advances to YOLO into short-dated OTM call options is drug-addict level desperation. People joke about YOLOing their inheritance - and I suspect there’s some reality to it. Their parents’ entire life’s wealth can’t dig them out of whatever hole their in. The CNBC guys freaking out is incredible. Their Cramer feud is gold. But... this trend is dif…
>Taking credit card advances to YOLO into short-dated OTM call options is drug-addict level desperation. It's actually somewhat rational. Say you just graduated college and make 30k as a waiter. You scrape together savings, loans, CCs, etc. and pull together 20k. Take that to Robinhood 2-3x it with margin and place a 50k bet that has a 8% chance to pay off 10x. If you "win" you're up 15 years of wages or more. If you…
Throwing $500-1000 a month into OTM options trading can generate life-changing amounts of money. That's like the lease payment on a 3 Series BMW. So it's pretty sustainable for working pros.
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The sensible response from society is unfortunately restricting personal bankruptcy laws. Essentially this is an organized attack on civilized society and it needs to be shut down, somehow.
if this is the only alternative you can come up with, then you unfortunately suffer from a lack of imagination. another solution would be to make that $30k enough for a comfortable life so the bet doesn't seem that attractive in the first place.
WSB is hilarious. It’s also such a place of sadness. Taking credit card advances to YOLO into short-dated OTM call options is drug-addict level desperation. People joke about YOLOing their inheritance - and I suspect there’s some reality to it. Their parents’ entire life’s wealth can’t dig them out of whatever hole their in. The CNBC guys freaking out is incredible. Their Cramer feud is gold. But... this trend is dif…
>Taking credit card advances to YOLO into short-dated OTM call options is drug-addict level desperation. It's actually somewhat rational. Say you just graduated college and make 30k as a waiter. You scrape together savings, loans, CCs, etc. and pull together 20k. Take that to Robinhood 2-3x it with margin and place a 50k bet that has a 8% chance to pay off 10x. If you "win" you're up 15 years of wages or more. If you…
It just doesn't add up to me. If you take Gamestop (GME) today's hot item, it's trading 170M shares back and forth, at say, $70. That's $11B sloshing back and forth. You're telling me 10,000 (if even?) guys sitting at home doing retail trading have $1M each in positions driving this? 100,000 people with $100,000 each, during the day? I think it's quant and algorithmic trading. I would love to hear from an expert thou…
They definitely do move markets. What you need to know is that they are buying short-dated call options. These options expire in less than 2 weeks, and are usually far out of the money. They require "dealer hedging" as the market makers providing these options do not want to be exposed to the massive amount of risk implied with the movement of price. The market makers are then required to buy massive amounts of the s…
More often than not, the calls will expire worthless.
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Qanon disagrees. 4chan trolling nearly resulted in a coup, its reached a new level of seriousness.
A coup can't succeed without support from the military, the police or a majority of the population. A few hundred badly organized crazy people can't perform a coup, they can however perform acts of terrorism which is what they did. Crazy people sometimes kills high level politicians, there are many cases like that in history, doesn't mean it was a coup or it was even near succeeding.
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>Taking credit card advances to YOLO into short-dated OTM call options is drug-addict level desperation. It's actually somewhat rational. Say you just graduated college and make 30k as a waiter. You scrape together savings, loans, CCs, etc. and pull together 20k. Take that to Robinhood 2-3x it with margin and place a 50k bet that has a 8% chance to pay off 10x. If you "win" you're up 15 years of wages or more. If you…
The sensible response from society is unfortunately restricting personal bankruptcy laws. Essentially this is an organized attack on civilized society and it needs to be shut down, somehow.