Still think TITNC3: Return of the Iceberg was peak

"The gang crashes the stock market"

Down 3% today in my mutual funds (again)

Up 70% on GME lol

 

Not only that, but I'm in my underwear, with a colander on my head, wielding a 9 iron

 

The gang is more then a few hedge funds. There BS short practice got them caught with their pants down. That's the spin that needs to start getting put on this when it drops the market another 5%.

 

Always Sunny in Philadelphia reference, old man!

bunch of bumbling fools always scheming and mostly losing their asses

 

I was just about to try and explain it but you did a much better job. Options are a whole new world @RedWings44 youll understand it by the time all this GameStop stuff is over. it took me a few months to figure out how they worked, and I still don’t know everything. But I know enough to be dangerous to myself

 

¹

Can you explain more, I am not familiar with options.

 

WHo gets to play frank in the couch overhearing us and thinking we're talking about him!
EPIC
https://www.youtube.com/watch?v=999vnNZznmc

 

https://www.tacomaworld.com/threads...ke-it-did-today.688708/page-231#post-25035789

 

So anyways we all started blastin'

 

I think I'm starting to grasp it a bit. It's a whole new concept, so I'm struggling a bit. This definitely has helped.

 

I appreciate it. It's definitely a whole new concept to me and wrapping my head around it is not easy. But I'm here to learn and it sounds like there are lots of people here to try and explain things to me. Outside of randomly buying a stock and selling a stock, I've never really done any of this on my own.

 

I posted this on WSB but no ones going to read it so here it goes.

2008 was a terrible year. My mothers best friend, a broker who always did the right thing, hung herself after the crash. My mom doesn’t have many friends and I have never seen her more sad. Her friend couldn’t tell all the people she cared about how much money they had lost due to the bullshit on wallstreet. My dad was an architect and took a giant hit too and I remember him counting change. He is a badass and still did what he could to provide but let’s just say our meals and lifestyles completely changed. Shortly after this he had a heart attack, since then he has had another and had 2 separate stints put in largely because of money. The next will be open heart and god forbid that happens. These suits have caused so much pain and suffering to so many people including my family. I am holding the line on my *2* shares of GME because every penny these people lose feels so unbelievably good. I have been on WSB for a few years and this is the best way WSB has affected my life. Sure I want to make a buck on this but this is way larger than that.

 

Same. Appreciate the help so far more than y'all know.

 

In addition to my question from before:

I'll use the example you gave me.

So I paid for the contract to buy those shares at $40 per share. However, what happens if the share falls to, say $35 per share? Is it profitable for them, then? Or have they been purchased already, by me because the price fell?

 

More recommended reading to keep everyone informed of what the situation is...
https://old.reddit.com/r/wallstreet...ud_of_you_guys_holding_the_line_they/glbni7s/

 

If it drops to $35 your $40 strike contract will expire worthless on expiry date unless you sell it early for a loss

 

So, basically I pay nothing other than the price I paid up front?

 

Correct. If you're buying a Call or a Put you can never lose more than the initial money you spent for the contract.

That's where the "gambling" part of the market really comes in. You can buy really cheap contracts way out of the money, and if the stock goes way up, you can benefit tremendously. If your bet was wrong, you just lose your initial buy in.

For example.

Last week I bought GME 1/29 $55c while it was cheap for $400 a contract. That contract was out of the money, meaning GME was well below $55 at the time. As of yesterday, it was trading on the open market for $32,000 contract. That's what we call a pretty good win as far as gambling goes.

I exercised my contract though, meaning I spent $5500 + $400 to purchase those 100 shares on the contract. Since the price of GME was over $300, I was basically buying in at an incredibly discounted rate, because I think the stock will continue to rise

 

Hmmm.

*reddit post from above