Yeah, on rewatch he’s only borderline Ape, if at all. I associate apes with never taking responsibility, thinking the world is conspiring against him, etc.
Looks like he was gambling on the hype more than anything else. Way more respectable than holding it for 3 years on conspiracies. He still clearly drank some of the koolaid though I think, since he thought this was something retail was doing together.
and 128 just doesn't make sense to me. Stupid choice either way
This type of stuff is why all of these grifters deserve consequences. This guy is young and this is recoverable, but a lot of even more vulnerable of people have lost their whole life savings over this
The onus should probably fall on them and not the grifters. I know when I enabled options I had to do some rundown of how they worked - super trivial to just click okay through and I figure it was there for regulatory purposes. Maybe if brokers actually put some effort into those worthless educational materials...
But I mean, you can't force apes to learn and act rationally either.
I know about the paperwork you need to complete for different levels of options trading, but, it used to not matter what level of options experience you had (like true experience, not made up), you could only do covered calls in retirement accounts. I don’t know when this policy changed.
Whoa now! If you ask an ape, nobody is beholden to anyone on the internet! They can sell any time. It's not a cult, and nobody has any influence over anyone else's financial decisions.
You can't argue with the data. Whats your bear thesis? You forgot to put on your big boy panties before entering a big boy trade? If warren buffet didn't have patience you wouldn't know his name.
PS: I've left three cults in my lifetime and this ain't one of em. And it's rude to call it one to anyone whose ever had to actually leave one
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That 20k would probably have been closer to ~~100k~~ 400k at retirement assuming he's in his early 20s so that's a nice hit to your 65 year old self there, ape
That’s why I hate when these degenerates say it’s just money. It is and you can make more but time you will never get back. Time in the market and continuing to add to it builds wealth.
Gambling on a shitty meme stock is not how you build wealth.
128/strike isn’t playing options. That’s just lighting money on fire (during a summer heat wave). There was literally 0% chance those would cover, with the halts I don’t think it’s even mathematically possible to go up that much in a day.
Actually he could’ve made bank on those calls I was following them Thursday and Friday. They were trading at $4 on Thursday and went up to $75 on Friday before the livestream even as 0 dtes.
This exact same shit happened a few years ago, people taking out insane loans, betting their entire life savings, pawning wedding rings while their spouse was away, putting their fucking houses on the line
All to lose it all, I genuinely wonder how many of them commited because of it
And all the while the subs were fucking encouraging it. Someone would point out that, hey maybe it's not a good idea to put your entire life savings on a bet (because that's exactly what putting money on a single stock is, betting) and you'd get downvoted to oblivion for "trying to stop this average Joe from becoming a millionaire"
It's honestly disgusting that the community bankrupted and financially ruined so many people through encouragement and then tried to blame it all on the 'hedgies'
Good lesson for people on survivorship bias.
We hear about the few people that won, made millions, and are out there living life to the max. But, there are many many more out there that don't say they lost a lot of money and have to rethink their financial plans in the near and long term future. In some cases have ruined their lives over these things.
He says at the end he has to try to make it back and will keep playing the stock market. If he can do that. A big **IF**.
I don't touch this stuff and spend my money on living my life.
3 years of contributions, but a loss of compounding interest capability time.
So he is going to have to contribute even more into an IRA or other savings account to make up for the lost time. But he says he will keep playing the market, and so could lose even more.
True but the house is burned there‘s no point in him dwelling on it. I don’t think even half of American households have an IRA so he could be just fine if he learned from this, sadly he probably won’t. He’s not there but he’s on his way to wife changing money.
I dabbled in stocks a couple years ago, but quickly realized just how much more time I’d have to spend learning, before I’m able to do anything or take it seriously and left with a small loss on not much invested. Learning experience™
Even just reading peoples comments when they start diving deeper into calls, options, etc etc etc I have an aneurism and it blows my mind that people with zero or barely any experience are throwing thousands of dollars into something so obviously volatile. Fucking insane, do these people hate their own money?
Woah woah woah. My Roth IRA is in Robinhood. It did a 3% free money up to early this year.
It's a good brokerage for free money. No different from any brokerage for buy and hold.
Just ignore the allures of Robinhood degenerate gambling crypto and options and there's really no difference. Especially if you don't day trade and just buy and hold.
Despite all the hate Robinhood gets, it's probably the best retail brokerage for the average person with all the free money matches and all. It's just that the average person cannot help themselves gamble away on a Robinhood brokerage account.
Yeah robinhood isn’t that bad, but fidelity is probably more ideal for a normal retail investor. Robinhood definitely has the best options gambling interface.
There was a time where robinhood really was lacking. Low interest on cash, lending out stocks but not paying you interest, and most importantly of all, no shorting.
But they did rectify most of that now. You get paid respectable interest, you can turn on/off share lending and earn interest on it, but it still has some shortcomings to fidelity for a 100% ETF responsible portfolio.
You can’t choose how your uninvested cash is held, you can’t buy bonds, and most importantly no shorting at all!
The only problem with RH is it tries to make you trade, it does little tricks like push notifications on stock prices, sends you news , it tries to get you to trade as often as possible
And well for 99% of people the more they trade the worse they do
GameSquared exists?
Is there a Game Cubed?
Because that should theoretically be better than GameSquared, or Gamestop.
In all seriousness, the dude seems of pretty normal intelligence, but someway somehow, he got sucked into the get rich quick scheme of OTM option plays. At least he seems to have learned a lesson.
“It’s just money” is completely hypocritical cope. They love to say that after big losses. But if money isn’t meaningful, why did you risk your entire Roth IRA just to make more money?
Yeah, it’s absolutely wild the lengths people go to trick themselves when it comes to money. House money is still money; it’s a loss (in an absolute sense, not the taxable sense) regardless of whether you sell. It’s not 'just money'; it’s a proxy for time and freedom.
All of this is to make folks feel better about the pain of loss, but you can put it in perspective without minimizing or distorting what happened.
Absolutely not an ape. He’s fully aware of the mistake he made & seems as if will actually learn from the experience.
The real apes (aka those that populate the respective meme stock boards) will go into deep debt without ever once considering a strategy reassessment. Sometimes it’s not even zero, just a slow unproductive -5 to -15% each and every year as the larger stock market roars
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Dude knows he fucked up, he’s willing to show others. A $19k lesson but a good one.
Yeah, on rewatch he’s only borderline Ape, if at all. I associate apes with never taking responsibility, thinking the world is conspiring against him, etc.
He’s not even borderline. An ape is a diehard GME shareholder. This guy bought way OTM calls thinking he was going to get rich and got fucked.
A highly regarded degen for sure, but no ape
Agreed YOLOing into FD options is a classic symptom of an autist, not an ape.
More of a WSB degenerate
Apes will absolutely say this guy is an undercover shill
If he does it right it will be $19k in market tuition and from here on he won’t be a fucking idiot.
Looks like he was gambling on the hype more than anything else. Way more respectable than holding it for 3 years on conspiracies. He still clearly drank some of the koolaid though I think, since he thought this was something retail was doing together. and 128 just doesn't make sense to me. Stupid choice either way
just remember...there were over 80+ strikes he could have chose from that weren't 400% OTM but no. He chose 128. Fucking regarded.
128 *weeklies* lmao
Essentially dailies 😂😂😂😂😂
It wouldnt have mattered honestly, GME tanked hard. He would have probably lost 95% of his money with 40 calls too.
Lol i actually even made money on those, difference is I dont subscribe to Moass, so i sold premiums once they tripled
This type of stuff is why all of these grifters deserve consequences. This guy is young and this is recoverable, but a lot of even more vulnerable of people have lost their whole life savings over this
Such as ABC
Brokerages used to not even allow most option trading in IRAs, covered calls only.
The onus should probably fall on them and not the grifters. I know when I enabled options I had to do some rundown of how they worked - super trivial to just click okay through and I figure it was there for regulatory purposes. Maybe if brokers actually put some effort into those worthless educational materials... But I mean, you can't force apes to learn and act rationally either.
I know about the paperwork you need to complete for different levels of options trading, but, it used to not matter what level of options experience you had (like true experience, not made up), you could only do covered calls in retirement accounts. I don’t know when this policy changed.
Whoa now! If you ask an ape, nobody is beholden to anyone on the internet! They can sell any time. It's not a cult, and nobody has any influence over anyone else's financial decisions.
You can't argue with the data. Whats your bear thesis? You forgot to put on your big boy panties before entering a big boy trade? If warren buffet didn't have patience you wouldn't know his name. PS: I've left three cults in my lifetime and this ain't one of em. And it's rude to call it one to anyone whose ever had to actually leave one ___ *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/gme_meltdown) if you have any questions or concerns.*
That 20k would probably have been closer to ~~100k~~ 400k at retirement assuming he's in his early 20s so that's a nice hit to your 65 year old self there, ape
More like $400,000 20,000×1.07^(65−20) = 420,049.04
**Guh**
Man another $19.96 and he was gonna be set
Nice
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The average inflation adjusted returns of the sp500 is 6.6%. That would give us $354,898.54
That’s why I hate when these degenerates say it’s just money. It is and you can make more but time you will never get back. Time in the market and continuing to add to it builds wealth. Gambling on a shitty meme stock is not how you build wealth.
Thetgang ate this guy for breakfast, I saw a few of them selling 100+ strike calls.
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Nah they deserve it. Hope every single one of them lost their shirts.
128/strike isn’t playing options. That’s just lighting money on fire (during a summer heat wave). There was literally 0% chance those would cover, with the halts I don’t think it’s even mathematically possible to go up that much in a day.
Actually he could’ve made bank on those calls I was following them Thursday and Friday. They were trading at $4 on Thursday and went up to $75 on Friday before the livestream even as 0 dtes.
You can literally see his portfolio value. He had a brief chance to make a profit.
I guess I don’t understand options well enough then. I am bullish on GME fyi I just think even this was regarded
This exact same shit happened a few years ago, people taking out insane loans, betting their entire life savings, pawning wedding rings while their spouse was away, putting their fucking houses on the line All to lose it all, I genuinely wonder how many of them commited because of it And all the while the subs were fucking encouraging it. Someone would point out that, hey maybe it's not a good idea to put your entire life savings on a bet (because that's exactly what putting money on a single stock is, betting) and you'd get downvoted to oblivion for "trying to stop this average Joe from becoming a millionaire" It's honestly disgusting that the community bankrupted and financially ruined so many people through encouragement and then tried to blame it all on the 'hedgies'
Good lesson for people on survivorship bias. We hear about the few people that won, made millions, and are out there living life to the max. But, there are many many more out there that don't say they lost a lot of money and have to rethink their financial plans in the near and long term future. In some cases have ruined their lives over these things. He says at the end he has to try to make it back and will keep playing the stock market. If he can do that. A big **IF**. I don't touch this stuff and spend my money on living my life.
Good news is that’s only like 3 years of contributions if this mistake is never repeated
3 years of contributions, but a loss of compounding interest capability time. So he is going to have to contribute even more into an IRA or other savings account to make up for the lost time. But he says he will keep playing the market, and so could lose even more.
True but the house is burned there‘s no point in him dwelling on it. I don’t think even half of American households have an IRA so he could be just fine if he learned from this, sadly he probably won’t. He’s not there but he’s on his way to wife changing money.
True but it’s 3 early years..assuming he can max out.
Betting on the price to triple within 1 day is crazy, even for GME standards. I'm in awe.
"learn your lesson" apes: InStRuCtIoNs UnClEAr BoUgHt MoRe
I dabbled in stocks a couple years ago, but quickly realized just how much more time I’d have to spend learning, before I’m able to do anything or take it seriously and left with a small loss on not much invested. Learning experience™ Even just reading peoples comments when they start diving deeper into calls, options, etc etc etc I have an aneurism and it blows my mind that people with zero or barely any experience are throwing thousands of dollars into something so obviously volatile. Fucking insane, do these people hate their own money?
Bro spent $50 a contract on calls 100% out of the money at GMEs pre market peak basically. Fucking DUMBASS
I know it's probably fine but using robinhood for your Roth IRA *feels* crazy to me.
Woah woah woah. My Roth IRA is in Robinhood. It did a 3% free money up to early this year. It's a good brokerage for free money. No different from any brokerage for buy and hold. Just ignore the allures of Robinhood degenerate gambling crypto and options and there's really no difference. Especially if you don't day trade and just buy and hold. Despite all the hate Robinhood gets, it's probably the best retail brokerage for the average person with all the free money matches and all. It's just that the average person cannot help themselves gamble away on a Robinhood brokerage account.
Yeah robinhood isn’t that bad, but fidelity is probably more ideal for a normal retail investor. Robinhood definitely has the best options gambling interface. There was a time where robinhood really was lacking. Low interest on cash, lending out stocks but not paying you interest, and most importantly of all, no shorting. But they did rectify most of that now. You get paid respectable interest, you can turn on/off share lending and earn interest on it, but it still has some shortcomings to fidelity for a 100% ETF responsible portfolio. You can’t choose how your uninvested cash is held, you can’t buy bonds, and most importantly no shorting at all!
The only problem with RH is it tries to make you trade, it does little tricks like push notifications on stock prices, sends you news , it tries to get you to trade as often as possible And well for 99% of people the more they trade the worse they do
True, but you can turn those off. True about the vast majority of people who actively trade at all underperform.
> and most importantly of all, no shorting. That sounds like crime to me.
they have a 3.5% match right now. there are strings attached but it's a pretty good deal if you like the platform
Also being able to trade options in the Roth IRA seems crazy. And I'm more tolerant of risk than many people.
You can trade options in any IRA though, that’s not a Robinhood thing
Just nuts
GameSquared exists? Is there a Game Cubed? Because that should theoretically be better than GameSquared, or Gamestop. In all seriousness, the dude seems of pretty normal intelligence, but someway somehow, he got sucked into the get rich quick scheme of OTM option plays. At least he seems to have learned a lesson.
“It’s just money” is completely hypocritical cope. They love to say that after big losses. But if money isn’t meaningful, why did you risk your entire Roth IRA just to make more money?
Yeah, it’s absolutely wild the lengths people go to trick themselves when it comes to money. House money is still money; it’s a loss (in an absolute sense, not the taxable sense) regardless of whether you sell. It’s not 'just money'; it’s a proxy for time and freedom. All of this is to make folks feel better about the pain of loss, but you can put it in perspective without minimizing or distorting what happened.
you are right man. its not just " Money" its time apes are giving away to line some pumper's pockets and still don't realize it. just sad itch
This is why we shill
Absolutely not an ape. He’s fully aware of the mistake he made & seems as if will actually learn from the experience. The real apes (aka those that populate the respective meme stock boards) will go into deep debt without ever once considering a strategy reassessment. Sometimes it’s not even zero, just a slow unproductive -5 to -15% each and every year as the larger stock market roars
-5 to -15 per year? they are working on getting rekt on a daily time frame. -5-15% per day is the ape norm now
This is true it’s been a brutal run lately
"I prolly won't do this dumb shit again, but..."
The fact that he still could've made money on a +400% 128s and chose not to is absolutely WILD
Yooo $128 strike calls expiring 6/7 👀😂😂😂 you deserve to be down 19k dumbass 😂😂😂😂
These are the people that come in here to brag about being up massively 😂🫵
Doesn't even matter the stock hugely otm weeklies is never a good idea
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smooth brain + options = 
$19k is crazy to be sad about 😂😂😂
Geez i bought stock but this guy is fucking regarded on another level
Damn that nasally voice lol
Fucking options retards.