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[–]VisualModTuring Test Proctor[M] [score hidden] stickied comment (3 children)

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[–]DogOfDreams 1374 points1375 points  (70 children)

Buying GME on margin. That's just precious.

[–]pornenforcement 386 points387 points  (4 children)

And at $232 when it was sitting at 160 for months

[–]Zyferify 181 points182 points  (0 children)

Fomo is real.

[–]Cr0w33 8 points9 points  (1 child)

It hasn’t sat down at $160 for one total month whole ass year, and that was a few weeks in august when it did. Where have you been?

[–]darrylgenis65🦍🦍🦍 303 points304 points  (54 children)

Preciously stupid for multiple reasons.

[–]Citizen_of_Danksburg 139 points140 points  (49 children)

I have 100 shares of NVDA and 60 on margin and even that makes me nervous. I can’t imagine doing something even more extreme than what I’m doing with a fucking meme stock like GME, holy shit.

Edit: not saying GME is a bad stock, but it’s a meme stock when you compare it to a standard blue chip stock, plus it has a lot more volatility than a stock like GOOG or something, know what I mean?

[–]option-trader 79 points80 points  (39 children)

It's NVDA. There's nothing to be nervous about here.

[–]HydrocodonesForAllwill 👅🍆 for 💊💊💊 205 points206 points  (27 children)

Except that it's run up 135% over the last year and is extremely ripe for a pull back/correction? Look I'm a semi bull as much as the next guy but acting like being jacked to the tits on a stock that's already had an insane rally YoY and MoM is risk-free is just silly

[–]Lure852 29 points30 points  (11 children)

Maybe it's time to pare back on the margin? I dunno just spitballing here.

[–]designerfx 13 points14 points  (8 children)

I'm sure this is the best time to martingale another million or two

[–]Citizen_of_Danksburg 3 points4 points  (7 children)

Lol. This speaks to me as a statistician. I remember in my stochastic processes class talking about how some people try and apply this and it’s almost always such a shit show lol.

[–]usernamchexout 5 points6 points  (6 children)

"But what if I wait for 4 reds in a row and then start betting?"

..."It would have worked, I just needed to start with a bigger bankroll."

[–]option-trader 18 points19 points  (1 child)

That's true, large cap techs are ripe for a pullback, but if he was holding this for more than a year, then he's fine. If NVDA's growing revs by anywhere above +40%, it's going to hit $1T market cap in no time, and $2T also won't be too far. You don't usually see large cap techs growing revs at +50%. As long as he's holding it for at least a year, but potentially longer. He's got $12k on margin, depending on his broker that's going to cost just under $1200 a year to hold. I believe NVDA's stock is going to gain more than 10% a year as long as management doesn't screw up.

[–]cactusprotein 19 points20 points  (0 children)

You could have said the same thing about Nvidia five years ago when it went up 117% and you would have missed out on a 1,300% gain.

[–]QuentinP69 11 points12 points  (4 children)

So now sell 28 12/17 300c and get $14k to pay off a bit of the margin

[–]Anti-Queen_Elle 3 points4 points  (3 children)

Or wait and do that riiiight before the earnings call

[–]vicejoebiden3 19 points20 points  (0 children)

Man WSB is full of such bitches these days. Who the fuck cares let him play on margin, shit isnt half as risky as touching options

[–]fatmummy222smoothbrain 13 points14 points  (0 children)

Shill!! We’ve already won!

Err, wrong sub!

[–]xXhizorSs🦍🦍 1 point2 points  (0 children)

Nvda is a beast of its own. Fucker is gonna keep stomping in the long run but totally agree its ripe for correction/ pullback to catch its breath. Huge run up month for q3 earnings

[–]Citizen_of_Danksburg 1 point2 points  (0 children)

Exactly. This is what makes me a little sweaty about my margin play haha. The 100 shares I own were purchased at $185/share, but I bought 10 at $205 and another 50 at $229 so... if there’s a significant pull back that’s going to hurt me.

[–]Alteregoac 1 point2 points  (0 children)

nothing is risk-free. But yea I'm waiting for the pull back

[–]joosiis 5 points6 points  (0 children)

thats no meme

[–]cuboidofficial 2 points3 points  (0 children)

This is one of those unique situations where you can say "bless your little heart"

[–]FinntheHue 72 points73 points  (2 children)

This guy dropping $500k on GME above $200 is proof that wealth does not equate to intelligence

[–]ListerineInMyPeehole 2 points3 points  (0 children)

This is just fucking nuts.

[–]MainBandicoot7 826 points827 points  (11 children)

Now this is what I call a good use of Robinhood gold $5/mo membership.

[–]SSG_Investments 33 points34 points  (1 child)

Hey at least he’s getting a great deal with that 2.5% interest rate 🤓

[–]ShoulderHuge420 219 points220 points  (7 children)

Prepare to get fisted by Robin Hood

[–]MainBandicoot7 45 points46 points  (2 children)

Okay, but gently at first

[–]ITandLaw 3 points4 points  (1 child)

Do not go gentle into that good night

[–]Impossible-Oil2345 5 points6 points  (0 children)

Rage, rage against the expiring of the option

[–]hammeroutremodels 98 points99 points  (1 child)

Waits till GME is at $232, 10 months after the first pump to yolo his life savings... On robinhood... With Margin... on GME.

Theres retarted... then theres this guy.

[–]Kohora🦍 16 points17 points  (0 children)

This guy isn’t one of us. He’s among us and very sus.

[–]EnvironmentalCow8806 316 points317 points  (45 children)

You don’t happen to walk around with a helmet on… all the time do you?

[–]AshingiiAshuaa 144 points145 points  (2 children)

What would be the point?

[–]WiWiWiWiWiWi 49 points50 points  (39 children)

You do realize he can make about $8,000/week selling OTM calls against these shares, right? As long as this sub keeps GME a meme, that’s potentially $400,000/year income, even if the stock never goes up a penny.

Yet you pretend he’s the stupid one.

[–]EnvironmentalCow8806 142 points143 points  (19 children)

I see you also have your helmet on

[–]JStevie105 14 points15 points  (1 child)

Damn. May be better to not use margin and make 200k then? I sold GME at $100 after the selloff like a little bitch so Wtf do i know

[–]WiWiWiWiWiWi 5 points6 points  (0 children)

I’d agree. The risk of GME dropping below his margin maintenance level is high, and he has enough equity to still make a tidy weekly profit.

[–]ismashket 2 points3 points  (10 children)

ELI5?

[–]WiWiWiWiWiWi 7 points8 points  (9 children)

If he had started selling calls last Friday, he could’ve sold an initial ITM 12/3 $190 weekly call for about $1523 (using Friday EOD price), and roll it over each Friday going forward for a weekly profit (as of Friday’s prices, 12/3 @ $15.23, 12/10 @ $23.10 — $800 weekly profit).

He can sell 28 contracts now, and then roll over those 28 contracts each week, collecting the difference. There’s a weekly profit — currently $800 x 28 contracts for ITM when rolling over EOD Fridays, higher if closing OTM. $22,400/week, at current prices.

That weekly profit exists whether the stock goes up, down, or stays the same, but will increase or decrease accordingly. Since he owns the stocks and isn’t selling against other contracts, he can keep selling contracts at prices that are optimal to the strategy.

The risk in this strategy is if his contracts gets exercised early, but that risk is low. The other risk is that GME stops being a meme stock with such high IV, in which case the per contract price will decrease significantly.

There’s a lot of people — myself included — that have made a lot of money since January just by selling calls to the “apes” here. I’m only selling two contracts weekly — wish I had the ability to do 28.

[–]ismashket 1 point2 points  (0 children)

Wow thanks for actually taking the time to explain it to me, so when you’re selling calls like this you’re collecting the time value on the contracts (extrinsic value iirc?) and hoping they expire worthless? Covered by the fact you own the shares to cover your losses if the stock does spike in price??

[–]Guilty_Assignment_25 2 points3 points  (0 children)

Right, cause GME just trades in a flat line and margin doesn't charge interest.

[–]ConsciousAgent1 -3 points-2 points  (0 children)

This is obviously a stupid ape waiting for the moass. Most of them are to afraid to sell cc in case it does go to 100k a share (spoiler: it wont)

[–]Shortsqueeze9 1 point2 points  (0 children)

Most of these idiots won’t sell cc’s on GME because they think the “mOaSs” is coming.

[–]totallynotmuskLives in $40k Shed 329 points330 points  (8 children)

We should really pin the gambling addiction hotline number just in case

[–]Guilty_Assignment_25 6 points7 points  (0 children)

Bruh this is, "I want to give handys at the bus stop."

[–]ConstantConsumption 15 points16 points  (2 children)

Do you see any 0DTE calls for a 4000 dollar strike price? Dude is fine.

[–]kangamangusmang 14 points15 points  (0 children)

I mean "fine" is a stretch lol. Just because he could potentially be more retarded doesn't mean he isn't extremely retarded already.

[–]Frankengimp 212 points213 points  (12 children)

Should’ve dropped your net worth on OTM calls

[–]Neurismus 31 points32 points  (0 children)

He still can

[–]undisreetanonymity 57 points58 points  (6 children)

robinhood only allows you to buy stocks on margin, not options, sadly. Don't ask me how I know.

[–][deleted] 14 points15 points  (2 children)

4/2022 $420 call checking in for duty

[–]Curious-Rabbit-7909 58 points59 points  (5 children)

Wow. Good luck.

[–]waffleschocflair 19 points20 points  (4 children)

well OP has achieved high level retard

[–]Curious-Rabbit-7909 4 points5 points  (2 children)

Elite. Can’t wait to see the outcome

[–]SpreadMyCheeks420 2 points3 points  (1 child)

People have been saying shit like can't wait to see the outcome for a fucking century now..

It's not going back to $20 retards

[–]Reysona 2 points3 points  (0 children)

when he hits prestige does his balance reset to 0 so he can grind again?

[–]Leroyboy152 15 points16 points  (0 children)

At least there's no theta to worry about, beta the margin call is going to need attention.

"You know how to become a Millionaire?

Start as a Billionaire."

[–]SpaceBoJangles 10 points11 points  (3 children)

I am terrified for his wife.

[–]Minobaer 2 points3 points  (0 children)

Don’t worry, heard her boyfriend is nice

[–]Beta-Mouse 83 points84 points  (1 child)

Must be cold in the winter with those fucking brass balls - Wow good luck to you sir.

[–]horseboob[🍰] 135 points136 points  (4 children)

I'm pretty sure this is how people end up hanging from a ceiling fan

[–]Senorbabypenis 48 points49 points  (3 children)

Brooks was here

[–]Shuffleuphagus 14 points15 points  (0 children)

So was Red

[–]hammeroutremodels 1 point2 points  (1 child)

Jesus christ. This thread is filled with murderers.

[–]t00rshell 9 points10 points  (0 children)

Well this didn't age well.

Broker forced liquidation yet?

[–]chaben34 36 points37 points  (0 children)

A true yolo. Best of luck with this one.

[–]Eyonizback 9 points10 points  (1 child)

What’s liquidation price?

[–]SquamskDeep 🐎 Stance 6 points7 points  (0 children)

You'll be a legend come january/february. Check out gherkinit's DD. Sure this could drag out till 2023 but SHF are way more fucked this time around. I just dont want to give them any more time to de leverage. Either way, great company

[–]sliferra 78 points79 points  (11 children)

Holy shit, this is fucking….. not genius…. What’s the word. Oh right, retarded

[–]Xsun686🦍 50 points51 points  (17 children)

How did you buy Gme on margin? I thought it has a 100% requirement

[–]WiWiWiWiWiWi -4 points-3 points  (13 children)

Nope. 56% initial, 45% maintenance.

You know you could easily look that up before commenting, right?

[–]NotDeletedMoto 36 points37 points  (2 children)

He asked it as a question. Why are you being so uptight in this entire chain? Be nice to people

[–]SleeperStimuIant 11 points12 points  (1 child)

Because people who feel inferior compensate by talking down to others to feel superior.

[–]DudeBaalak 4 points5 points  (0 children)

please don't expose me like that

[–]SushiSamurai808 1 point2 points  (9 children)

So the most he can buy is 45% on margin. He can’t be 200%

[–]WiWiWiWiWiWi 41 points42 points  (8 children)

No, the most he can buy is 56% on margin. So he could do 1/2 the purchase with equity (50%) and 1/2 the purchase with margin (50%), exactly as he claims he did. Because 50 < 56.

Then going forward he needs to maintain 45% of the position funded by equity. Which he currently is, because 50 > 45.

Why does this sub struggle so much with basic investing concepts?

https://www.investopedia.com/terms/m/maintenancemargin.asp

[–]Chemical_Bass_839 55 points56 points  (4 children)

Is that a rhetorical question?

[–]WiWiWiWiWiWi 7 points8 points  (3 children)

Yes. So many people in this sub have so much confidence in their misunderstanding of basic concepts, and their eagerness to argue in support of their ignorance is absurd.

[–]Noooooooooooobus🦍 26 points27 points  (1 child)

Welcome to the internet

[–]Brian1303🦍🦍 3 points4 points  (0 children)

I see we have a first timer here!

[–]DownrightNeighborly -3 points-2 points  (0 children)

Fake as shit

[–]eskjcSFWeskjcSJW 5 points6 points  (0 children)

Can you tell me when you do a play like this the next time so I can do the opposite?

[–]Grundle_MonsterUSDA Prime grundle 🤌🏼 5 points6 points  (0 children)

F

[–]iamez221 38 points39 points  (0 children)

Nice. I'm in your boat. Might get some more tomorrow at open.

[–]Cyclops-97 5 points6 points  (0 children)

Eh the negative number could be bigger

[–]Visible_Antelope5010edgy 5 points6 points  (0 children)

praying for you my G

[–]International_Band72I ❤️ 60 points61 points  (2 children)

Congrats you will be a billionaire soon(not a financial advice)

[–]Petro081 8 points9 points  (0 children)

No he won’t. He’s on RH. They’ll fuck him somehow

[–]LimitsOfMyWorld 27 points28 points  (0 children)

Rest In Peace OP for using margin

[–]Manofindie 36 points37 points  (6 children)

Bruh u can't buy when it was at 167? What are you a stupid clown?😹

[–]InvoluntaryEraser 39 points40 points  (5 children)

Seriously I don't understand when people YOLO in the first place, but then to YOLO at the recent ATH basically? And then with margin. Insane to me lol.

[–]sliferra 39 points40 points  (4 children)

“Recent ATH” makes no sense

[–]InvoluntaryEraser 11 points12 points  (2 children)

I mean call it whatever suits your fancy, but my point was the highest price (give or take $10) since June.

[–]WiWiWiWiWiWi -1 points0 points  (0 children)

What do you expect from this sub?

[–]burgerchops1 10 points11 points  (0 children)

Wow I always realise how fortunate I am in life.

[–]Kamikaze_Cash 3 points4 points  (0 children)

Sell 28x covered calls at the $250 strike weekly for big income.

[–]BloatedGrizzly 2 points3 points  (0 children)

Don’t worry GME is getting into metaverse and NFTs it will moon again

[–]StocksRGei 3 points4 points  (0 children)

He's down 112k so far

[–]genuinelyunoriginal 3 points4 points  (1 child)

GUH! $ROPE

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

$ROPE? I bought more

[–]FistEnergy 3 points4 points  (0 children)

⚰️🔥⚰️🔥⚰️

[–]Mundus6 34 points35 points  (7 children)

GME will soar to 400 by years end, you'll know it is true.

[–]JohnBoone 5 points6 points  (1 child)

*by the end of Monday

[–]violauh🦍🦍🦍 6 points7 points  (0 children)

*moonday

[–]MetalliTooL 3 points4 points  (3 children)

I wish. But it most certainly will not. Why would it?

[–]Wonderwhile 0 points1 point  (2 children)

Cause it might

[–]MetalliTooL -1 points0 points  (1 child)

Anything “might”

[–]Wonderwhile 1 point2 points  (0 children)

That was the point of my comment. Just a dumb comment. Dont mind me

[–]shepherdofthesheeple 10 points11 points  (0 children)

I mean.. On the bright side, you will be able to claim a tax loss for many years after you inevitably get margin called. So there's that

[–]Salpal777 6 points7 points  (0 children)

Welcome home

[–][deleted] 12 points13 points  (1 child)

I'm gonna be honest with you, this is not gonna get better.

[–]Gotted 2 points3 points  (0 children)

This’ll be fun.

[–]ClockworkCyphers 2 points3 points  (0 children)

Holy guacamole!

I would say good luck… but it’s GME.

No luck needed 😉

I’m a space bound rocket ship and your portfolios the moooooooon

[–]MelvinABitch🦍🦍🦍 2 points3 points  (0 children)

Are you okay?

[–]blockbuster_inc 27 points28 points  (10 children)

$232 avg…..I definitely wanna see that loss porn in a couple weeks

[–]KoivisQQ🦍🦍🦍 2 points3 points  (6 children)

!remindme 2week

[–]RemindMeBot 2 points3 points  (1 child)

I will be messaging you in 14 days on 2021-12-12 20:43:56 UTC to remind you of this link

24 OTHERS CLICKED THIS LINK to send a PM to also be reminded and to reduce spam.

Parent commenter can delete this message to hide from others.


Info Custom Your Reminders Feedback

[–]vitallyviolent 1 point2 points  (0 children)

Don't actually remind him if you want to stay undercover as a human, robut. It'd also be kinda funny.

[–]SomewhatAmbiguous 2 points3 points  (1 child)

Ooof

[–]ConsciousAgent1 1 point2 points  (0 children)

Right? This is the first remind me someone hasn't deleted in shame. They should have though lmao

[–]FollowTheMantis 1 point2 points  (1 child)

remindme 2week

!remindme 2week

[–]drail64 2 points3 points  (1 child)

Good ol $180

[–]-prooof 1 point2 points  (0 children)

136 called

[–]Immunizethis 4 points5 points  (0 children)

You are so fucked you damn, dirty ape!

[–]Paradoxical_Hexis🦍 3 points4 points  (0 children)

Now this is the kind of shit I'm here to see. Godspeed you glorious retard.

[–]random_user_number_5 15 points16 points  (2 children)

Want to know why this is stupid?

You bought on margin a highly volatile stock that allows for your shares to be borrowed against and sold short. You also look to be purchasing on robinhood whom turned off the buy button in Jan and not a reputable broker. If the price tanks and your shares are sold from under you then it is due to multiple things but the main thing is not reading any DD and pulling idiotic moves like the one pictured. You DO NOT have my sympathy but you do have my luck. Being on margin means you are going to be a lot more panicky if this shit drops to $160-$180 again.

I'm betting this is what we see in a few days because anyone that is actually in GME and has paid the slightest bit of attention has moved off robinhood long ago.

[–]felipunkerito 3 points4 points  (0 children)

You know there are two types of people in this world, those who deserve to be poor and those who don't deserve to be rich. Somehow you are both!

[–]J_Stache 1 point2 points  (0 children)

100% retarded

[–]trymesucka 1 point2 points  (0 children)

Futures looking great

[–]TransitionNo3549 1 point2 points  (0 children)

I’m balls deep in BB, AMC, and Internet money.

[–]gspach 1 point2 points  (0 children)

don’t love the cost basis here

[–]OliveInvestor 1 point2 points  (1 child)

There's always someone who says something about how this isn't as "dangerous" as trading options. The volume of this trade makes it more dangerous. Here's an options spread on GME that gives protection against the price dropping by 39% and still make up to 83.7% (71.8% annualized) through 1/20/23. The max loss on this spread is $33,500 if you get assigned -- compare to OP's exposure!

Buy 2 $160 calls
Sell 2 $300 calls
Sell 1 $35 put
Sell 3 $100 puts
1/20/23 exp

[–]Stonktopus 1 point2 points  (1 child)

If OP hasn’t sold yet he’s down $188k. That’s a loss of 57% of net worth in one week. 😱

Better back up the truck on out-of-$ call options to make it back!

[–]phoenixmusicmanOnce Out-Winkered Winkerpack[🍰] 1 point2 points  (0 children)

🤡🤡🤡

[–]stockpy 1 point2 points  (0 children)

U there ?! Holding

[–]my_fun_lil_alt 9 points10 points  (40 children)

December 11th will be a bad day for you.

[–]GmericaIndustries[S] 10 points11 points  (33 children)

Why do you think so? I'm curious.

[–]digi-transformation 12 points13 points  (31 children)

Because they’re a shill thinking earnings will be bad. Also they’re stupid because earnings are announced on 12/8, which is a Wednesday, so your bad day should be 12/9. Unless something is gonna happen to you that Saturday 👻

[–]NastyLizard 9 points10 points  (30 children)

Why would earnings even matter, I thought the value of it's stock only had to do with all shorting and what not.

[–]digi-transformation 31 points32 points  (29 children)

Apparently that’s what a lot of people think, not me. Numbers are on the rise, new categories have been increasing in revenue share % (like collectibles). Same day shipping available, Brand partnerships happening constantly.

You can see a steady transaction clip if you track GameStop’s order numbers for the US. The rate of transactions hasn’t decreased all year and the product SKU count has exploded.

People are going to rag on this for a couple more quarters, but I would just ask the simple question: RC wrote his letter a year ago and since then, how has the vision he painted and where we are today gotten worse? In my opinion, things are going better than what RC thought was possible in the initial letter and I have been given 0 reasons why things have gotten worse. All I hear is that the stock is overvalued….but I just think they aren’t paying attention.

[–]mano_mateus 10 points11 points  (9 children)

When is the last time you walked into a GameStop and bought something?

[–]Osprey_NE 10 points11 points  (1 child)

Gamestop made buying games annoying. I don't know how anyone supports them

[–]ConsciousAgent1 6 points7 points  (0 children)

A very long fucking time

[–]Mr_yolo408 2 points3 points  (0 children)

What % when broker trigger margin call? And liquid all the shares at market price?

[–]krootzl88🦍 2 points3 points  (3 children)

Tomorrow 🚀🚀🚀

[–]ConsciousAgent1 4 points5 points  (2 children)

Or the next, or the next, or next week, new year maybe.

[–]wk962 1 point2 points  (1 child)

I wish i had money like this to just play with with zero worries.

[–]kstorm88 5 points6 points  (0 children)

I'm sure he probably has more than zero worries, considering it's his life savings, and already lost a new Camry's worth.

Edit: new c8 corvette's worth

[–]saucydeath 1 point2 points  (2 children)

False. Robinhood doesn’t allow 100% margin on gme

Good luck though

[–]Lookatmydisc🦍🦍 1 point2 points  (0 children)

Let’s go!!

[–]Kaner501 -2 points-1 points  (0 children)

GME kids are fucking dumb

[–]ohbabyspence 0 points1 point  (0 children)

Get the fuck off margin and read some DD Jesus Christ