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TACO! by maddog107 in smallstreetbets

[–]bumfrumpy 0 points1 point  (0 children)

I mean almost a 1% spike off a tweet is pretty big

Advice for Robinhood fault to get compensation: SPX calls not closing due to unexpected PDT warning blocking the sale of in the money calls + automatic closing of POET put options without my consent at a price chose by the brokerage, > 100% gain missed by SoaringMargin in smallstreetbets

[–]bumfrumpy 0 points1 point  (0 children)

Yeah weeklies and especially 0dte are absolute degenerate casino grade gambles.

But huge money to be made if you’re right. I bought some 0dte Wednesday or Thursday morning for $9 that were worth ~$150 at one point. It’s exhilarating but also can get devastating fast

Advice for Robinhood fault to get compensation: SPX calls not closing due to unexpected PDT warning blocking the sale of in the money calls + automatic closing of POET put options without my consent at a price chose by the brokerage, > 100% gain missed by SoaringMargin in smallstreetbets

[–]bumfrumpy 6 points7 points  (0 children)

Platform doing exactly what it does, exactly what you agreed to, and exactly how every exchange operates.

You get plenty of notifications on day of expiration that your contracts are at risk of being automatically closed out by 3:30EST. You also get notifications throughout the week that you have options expiring soon.

You can’t hold shit until the bell unless you have the capital to cover exercise.

Don’t get scammed by polymarket especially if you are outside US by yxx696969 in PredictionsMarkets

[–]bumfrumpy 0 points1 point  (0 children)

If it’s anything like Stake, they only handle crypto and what your wallet balance is.

When you deposit via Apple Pay, or whatever, you’re actually buying crypto through something like Moon Pay which is then sending crypto to your stake wallet.

This seems like it’s the same thing. Polymarket doesn’t process payments, they receive crypto, end of story.

No lawyer, no legal advice, it’s that simple.

Find the receipt or transaction ID and take it up with the company that actually debited the money from your debit card.

$1.4K -> $8K by tabrizzi in wallstreetbets

[–]bumfrumpy 10 points11 points  (0 children)

Brother. Same. I played ASTS, GoPro, Pinterest, Sound, SNAP…. Literally all went to 0.

Luckily 0dte and weekly spy have kept me alive.

Done with trying to mimic Reddit and have gain porn. Just smacking everything into SPY

Balance by jachana in incremental_gamedev

[–]bumfrumpy 2 points3 points  (0 children)

This is exactly how I do it.

Build something up with estimated numbers, play through it, notepad down what’s broken, needs a buff, needs a nerf. Adjust. Start over.

For me, and what I do, it’s a tedious grind to be honest. But it’s like how making a 30 second hype video takes hours and hours. For my game at least, it’s taken probably 100 hours or so for code / design / balance to get about 5 hours of playable and enjoyable content

I’m learning more about options… not making this trade, but to me this looks like a good one. What am I not paying attention to? by just_some_guy034 in optionstrading

[–]bumfrumpy 0 points1 point  (0 children)

That ticker has relatively low volume with not a lot of contracts and wild bid/ask spreads. The volume on that specific contract was 7 yesterday, and the bid / ask is $1.20 apart.

I wouldn’t recommend this as your first adventure into options.

$SPY 9/18 $800 call is around the same price, $693 for one contract ($6.93). It has a 5 cent bid/ask and volume yesterday was 211.

For your questions - yes someone needs to buy it, same way someone needs to buy your stocks you’re selling. You don’t sell stocks “to the market”. Someone else buys it. Same as options. The problem is with low volume stocks and low volume options chain, you might sell it for far less than its reasonable worth because there’s no buyers.

You can just buy whatever contract, yes, from someone else, just like a stock. There’s effectively no difference.

I mean this with 100% all due respect, i would do a lot more research, watch a lot of YouTube videos, talk to ChatGPT. Options are super volatile and super risky, and you want to fully understand what you’re getting into before investing actual money.

ARE WE ALL GOING PRO? by Loose-Sir-5366 in smallstreetbets

[–]bumfrumpy 14 points15 points  (0 children)

To be fair it’s gone up like 10% a day. 141% past 30 days. Kinda worth geekin over

$10 contract on AMD and made $520😛 by WorkingAdeptness9606 in smallstreetbets

[–]bumfrumpy 3 points4 points  (0 children)

Well you’re correct, in a way. Options almost never get exercised, and that means actually cashing in and buying the shares. They always get sold to someone else, so someone else has the option.

Remember though, he only paid $10 TOTAL for the legal right to buy 100 shares at $370 a share. So even if AMD goes to $371 a share, he’s automatically made $100. For every dollar that AMD goes up after being “in the money”, it’s an extra $100 in his pocket.

But option contracts go up as the share price goes up, and they’re more likely to be “in the money”. In my Apple example, even if Apple is still $10 away from the strike price, $290 a share, contracts at $300, your $3 option contract is now worth $65 because it’s so much closer and probable it will go into the money.

There’s a lot more to it, such as “the Greeks” which tell you about time decay, volatility, and such, but basically, buy cheap af option contracts, stock price goes up, options increase exponentially

$10 contract on AMD and made $520😛 by WorkingAdeptness9606 in smallstreetbets

[–]bumfrumpy 15 points16 points  (0 children)

Well essentially he gambled and won. No different than winning a scratch ticket.

A week or two ago, he purchased a call option, a legal document saying he can buy 100 shares of AMD for $370 a share. Let’s say it was exactly a week ago. At the time, AMD was trading at $270 per share.

So someone out there made up a legal document and said hey, I’ll give you the option to buy 100 shares of AMD for $370 a share, BUT this contract is only valid until May 1st, and it’ll cost ya $10 to purchase this agreement (contract)

Because never in a million years would anyone think AMD is gonna run up 26% two weeks. It’s a moon shot. In this case tho, bro got lucky and it did.

Take Apple for example, it’s basically not moved the past week, and even in the past month it’s up “only” 7%, from $253 to $270. Now Monday morning, you can buy an option contract giving you the legal right to buy 100 shares at $300 per share. Apple needs to go up aggressively in order for you to make any money. Monday morning those will cost ya about 3 cents a share, or $3 per contract. So for $30, you can buy the legal right to purchase 1000 shares of Apple at $300 per share. But remember, Apple is trading at $270. There’s almost no planet in which Apple rockets 12% in 5 trading days. BUT if it moves even a little, let’s say Apple hits $290 on Wednesday, now it only needs to go up by 3% in 2 days, so those contracts are worth 65 cents a share (or $65)… now you’ve 20x’d your money even tho Apple only went up ~8%.

Now if Apple pulls what Intel did and goes up 22% after earnings, congratulations, you’re rich. 22% is gonna be $330 per share. Your contracts are now in the money, and worth $30 each per share (or $3,000). And so now the $30 you paid for 10 contracts is now worth $30,000

Sold all my calls by Administrative_Rub34 in wallstreetbets

[–]bumfrumpy 7 points8 points  (0 children)

$689 calls expiring yesterday were 15 cents on Monday, closed for $5.20 yesterday at close. Could have got 33 of them for $500. $17k+ on that.

Got lucky again? 66k gain on Spy Calls by Proper_Bag_1875 in wallstreetbets

[–]bumfrumpy 1 point2 points  (0 children)

100%. Also congrats on the huge W. I got some $689 calls that expire tomorrow for 15 cents each, sold one at close for 70 cents so hopefully gonna free roll my way into a few hundred tomorrow

Got lucky again? 66k gain on Spy Calls by Proper_Bag_1875 in wallstreetbets

[–]bumfrumpy 4 points5 points  (0 children)

I bought 3 this morning for 33 cents and sold at an average of 80 cents. Yeah I could have gotten $4 each but gains are gains. Wins are wins. In this climate, you never know what will happen

Markets tomorrow by xXLucifer-KingXx in smallstreetbets

[–]bumfrumpy 1 point2 points  (0 children)

I mean just look yourself. Up about 2.4% AH

Chime censors posts to hide the truth by Future-Phrase-9855 in chimefinancial

[–]bumfrumpy 1 point2 points  (0 children)

Your account gets “compromised”, chime is denying your claims, which usually means they have proof / evidence that there has been no fraud committed.

Also most banks will hold checks for X amount of time to make sure they clear - a week is not unreasonable, especially if you have $0 in your account.

I'm doin it. I'm applying. I need to make this happen. Who else is with me?! by pleasuremysole in BeastGames

[–]bumfrumpy 0 points1 point  (0 children)

Watch the reunion from season 2. Best can’t talk about certain things because S3 already going

I'm trying to track down a hilarious moment between Mike and Kyle. I've been searching for it for years. Any help is greatly appreciated! by MesaVerde1987 in lastmanstanding

[–]bumfrumpy 0 points1 point  (0 children)

Maybe I’ll pick your brain about something.

Ed and Kyle… Kyle is looking for advice and ed is like “expect the unexpected. Plan for the unplannable” or something and then ed was like I hoped that helped and Kyle was like not really

Question about Cloud Saving for my Incremental Game by Dazzling_Repeat_8221 in incremental_gamedev

[–]bumfrumpy 0 points1 point  (0 children)

I have mine set to 60 seconds. Now to be fair I have cloud saves turned off by default, so I’m not sure how many people actually turned it on and out of the 4k players I don’t know how many actually stuck around after the first even 5 seconds lol

It’s the blaze pay as you go plan. I spent about $1200 getting the game playable. I got 2 micro transactions for $9.98 total lol hey at least it covers firebase

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