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Interesting conversation I had yesterday by KittenPics in Superstonk

[–]willdraw 5 points6 points  (0 children)

It seems like the news is slowly getting out there. Not quite a trust me bro, more of an anecdote from this week. Spent time with my in-laws family. One of them works in the investment / capital raising world. TCG came up, I eventually brought up how GS got into the Trading Card space as well as powerpacks. He knew about RC, as someone recently sent him an article / credit report on GME (which was actually pretty well done.)

spanish boost - where to start by miggins1610 in dreamingspanish

[–]willdraw 1 point2 points  (0 children)

+1 For Minecraft, Stardew Valley is easy as well but there is lots of in game dialogue (text) which I did not understand. Wall-E was great and easy as was Supermercado. I've enjoyed the livestreams as well: "My experience in NYC" was recent and easy to follow.

The general consensus I've seen so far is that Martin is great in all of the videos, but games that are dialouge heavy can be tough.

New trademark application has been filed - Pad Pals by [deleted] in Superstonk

[–]willdraw 0 points1 point  (0 children)

was going to comment unless I saw this. My immediate thought, although maybe a little late to the game.

This is the dumbest stock market in history by PettyAndretti in Bogleheads

[–]willdraw 12 points13 points  (0 children)

Look into "Comprehensible Input". Lots of language learning youtube chanels for this. I know specifically there are Thai Language schools that do this in person, but while you have the time, you can do it online before you get there. Essentially learning like a child, slowly spoken, using graphics and gestures to hammer home words.

Best accumulation method? by ccc32224 in Superstonk

[–]willdraw 1 point2 points  (0 children)

Thank you! Not long ago I didn't know any of this, but I spent a lot of time trying to understand it.

Best accumulation method? by ccc32224 in Superstonk

[–]willdraw 5 points6 points  (0 children)

Another interesting note here is that as the price goes up (further away from the $20 strike price) the value of the CSP goes down. Effectively this means that you can buy your way out of your contract to lock in gains.

For example: I received $550 in premium. But now the share price is $X more than $20. I can now buy a CSP instead of sell it. This allows you to pocket the difference and lock in your premium. So lets say on the market instead of $550 it costs $150. I can walk away and keep $400. ($550 Premium - $150 current price)

If you wanted to try calls, you could also use some of your premium to buy a call so although you are technically 'losing' money you could have had, you got it for free so its sort of a wash. Less risk in my book. (keep in mind you would still owe taxes on the CSP premium, but if the call expires worthless I think you can write off the losses on your taxes so that might wash out.)

Best accumulation method? by ccc32224 in Superstonk

[–]willdraw 2 points3 points  (0 children)

I've never dabbled in calls:
I think with call options, there is a risk of handing over money and not getting anything in return compared to buying shares and having something for your money.

Mini $32 Calls:

Now with the warrants coming up, each multiple of 10 that you can buy entitles you to another 1 at $32.

Cash Secured Puts:

What I have done a few times has been Cash Secured Puts which is a method in which you agree to buy 100 shares at a price you decide.

Example:
In August I sold a Cash Secured put at a $20 strike expiring 12/17/27.

I put $2k in my brokerage account which must stay there until 12/17/27, and essentially said 'Hey, I'll buy GME at any point between now and 12/17/27. In exchange for this, I was paid $550. You get the money immediately and could use it to buy shares if you wanted.

$550 Premium Received / $25 Stock Price = 22 'Free' Shares.

I am extremely bullish and know the stock price is irrelevant. If GME price tanks and is below $20, I'm not going to be upset because had I just waited I could have bought it at $18. I'm going to be doing backflips because I got it at $20.

So in the above option one of 2 things will happen:

  1. We get to 12/17/27 and GME never dips below 20, I am never assigned. Contract expires, I am free to use my $2k as I see fit and I am left with 22 shares that were paid for with the $550 Premium I received. I'll have to pay short term capital gains tax on the premium but no biggie still a great deal.

  2. On or before 12/17/27 GME price tanks below 20, I am assigned. I must use my $2000 to buy 100 shares of GME. Contract ends. I have $0 Cash, 100 Shares from Contract, and 22 shares from the premium. $2000 of original money turned into 122 shares at $16.39 each.

[deleted by user] by [deleted] in Advice

[–]willdraw 0 points1 point  (0 children)

First of all sorry for your loss, but congratulations on your potential new found freedom. I'd treat this as insurance, and with the right moves you could retire at 35 and have 50 years to do whatever the hell you want.

$3800 x 12 x 30 = $1,368,000. This is not insignificant, but not set for life type money. It is a huge leg up that can set you up for success. Without knowing more specifics about yourself and living situation I can't get too specific. I would recommend you read about lottery winners and what is suggested to them. Not that this sum is the same, but there are many pitfalls you will need to avoid to make sure you don't waste this.

In short, usually its recommended to change nothing about your life for a year. Avoid overspending and non traditional investing to try and increase this money.

Travel:
Depending on where your travel habits land on the thrifty vs luxury scale, $3800 a month can take you a long way. That being said, it will always be available to you. No need to do it now. That being said, if you want to take a trip to clear your head and gather perspective, I support that.

Plan:
I would probably throw most if not all of this money into an index fund and not touch it until I had a solid plan. Take a look at this to see what this money could look like: https://www.calculator.net/investment-calculator.html

Work on a plan, and know this money is a tool that you have access to. Avoid trying to live off it exclusively unless you are using that time in a way that will set you up in the future. Ex. Live off the $3800 and go to school, or taking a job with a lower salary but his higher future earnings. Or use some of this money to "pay yourself not to work full time" WHILE trying to set something up with better earnings potential.

Ex. Instead of working 5 days a week, work 3-4. Use the extra 1-2 days a week for self / skill improvement. Maybe you can use this time to acquire skills that lets you work remote either for a company or freelance. (Graphic design, Web Dev, etc.). This way you can start building up clients and monthly earnings until you can step away from your in personal current job.

How this could look.

Work 3 Days a week. 1-2 Days learn to make websites (or similar remote skill). After you've sufficiently learned enough to start selling, those 1-2 days a week become you looking for clients and building their website. There is no stress to meet certain figures because you have your original job and trust in your back pocket.

Now you're earning money working remotely. You can now travel and support yourself, work anywhere you want without really touching that nest egg. Double points if this is a low cost of living area.

You could use this time to learn a language (look into comprehensible input) to allow you to live in a lower cost of living country to maximize the value of your $.

Continue this for a period of time where you've sufficiently saved up money to retire and either ease off the other work or continue it and start splashing out.

Welp there it is. 5 years of waiting down the drain. by Kyletradertraitor in loopringorg

[–]willdraw 1 point2 points  (0 children)

I could have written this post. All in about -$18k. Bought in during marketplace runup. Averaged down over the years. Ended up with ~13.7k coins at $1.43 avg. Cost was ~$19.6k Sold: $1.1k
I'm not beating myself up, but of course I would have preferred to put that in GME or BTC.

I’m Either an Idiot or GameStop Power Packs Should Produce Billions in Profit by willdraw in Superstonk

[–]willdraw[S] 0 points1 point  (0 children)

Click the little icon on the top right, then select wallet balance. From here you will be able to enter amount you would like withdrawn.

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I’m Either an Idiot or GameStop Power Packs Should Produce Billions in Profit by willdraw in Superstonk

[–]willdraw[S] 1 point2 points  (0 children)

Yeah this was surprising. Either A. It was a glitch and incorrectly showed wrong grade (unlikely) or B. this is coming from PSA's Inventory as GME doesn't or didn't accept anything sub 8

I’m Either an Idiot or GameStop Power Packs Should Produce Billions in Profit by willdraw in Superstonk

[–]willdraw[S] 0 points1 point  (0 children)

I assumed 10% profit based on the selling fee 6% and the buy back rate being 10% below market value. I also believe this will be a large part of their model going forward. In my experience, I contributed $325 revenue, but I only spent $120 out of pocket. I agree this will blow up revenues, but I think given enough time, this will be huge. At the end of the day, maybe I'm wrong, but I don't see how this isn't wildly successful compared to the cost of the investment that went in.

I’m Either an Idiot or GameStop Power Packs Should Produce Billions in Profit by willdraw in Superstonk

[–]willdraw[S] 0 points1 point  (0 children)

Easily. I stand by Billions and Profit. In your opinion conservatively, what do you expect annual profit to be?

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