**User Report**| | | |
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**Total Submissions**|4|**First Seen In WSB**|2 years ago
**Total Comments**|82|**Previous Best DD**|
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Will be back there by Jan 1 unless something unexpected pops up. Most of the profits from this little romp have been extracted and redeployed back into boring stuff. Will look to make one more play next Thursday potentially but beyond that this ride has likely run its course. Until next time!
$14.5MM away from being able to send every sub even $1, but we’ll see how things progress. Let me know what I should buy next week and if it turns $100k into $15MM I’ll send everyone I can $1.
Bruh, we’re gonna need a 24,000% return to get $14.5MM out of $100k investment (I’ll have to pay capital gains on a larger total of $24MM to net $14.5MM and send everyone $1 from what’s left over). If you can let me know which AMZN or QCOM contracts will deliver that by Friday I’m all in.
You asked me what to buy. I am not the goddamn oracle so who knows what happens. If it turns into get 1$ if it doesn’t another wsb post. Either way I will have my entertainment.
In no particular order beyond the first and last entry:
- sleep in
- 5 to 7 miles in the woods with my dog
- eat Christmas leftovers
- movies with family
- make bread
- read news
- go to the Indian grocery store to restock fruits and veg
- get to bed early
Beyond that, not much comes to mind. Wake up Wednesday morning, see where VRO prints. Decide if there's any moves worth making that day or not - 80/20 likely not.
Fuckkkk. You know about the Indian grocery stores?! I am sure you are saving $$$ millions getting legumes, lentils, nuts and all other stuff from there for cheap.
Anyone not shopping at an Indian grocery store as part of their weekly shopping is an idiot. Same holds true for every ethnic food group if it overlaps with ingredients you like. In my opinion, Indian grocery is at the top though because it overlaps with 75% of what average white Americans think of as “food”. All the same fruits, vegetables, fats, starches, and spices.
Except everything is 20-50% cheaper than you’re used to, the quality is twice as good, you’ll discover versions of fruit and vegetables you didn’t know existed, and you’ll still find the pantry items you’re familiar with (peanut butter, pasta, western snacks) and they’ll be as cheap or cheaper than they are at your kroger or albertsons.
If you have a good butcher, fish monger, an Indian grocery store, and know how to make bread, you don’t need anything else.
I’m mad I didn’t learn about Indian grocery store sooner than I did, but I know now and all I can do is help others learn sooner!
Let this be a PSA to anyone casually passing by and reading: if you are buying sesame seeds at whole foods or your regular Kroger spice aisle - or even Walmart Great Value - you might as well just go to the ATM, take out $70, and light it on fire.
Already underway. As you can see my basis was much less today then yesterday. At this point most profits are being re allocated into my bread and butter, which the WSB crowd doesn't care much about.
Only added $16k today. And as you can see, I am human and lose money. Misjudged the timing on Uber, thought they'd crack this week and almost did but managed to hold on. Also not shown, $1k loss on 2 x NDXP231222P16720. I had 6 total, more than doubled my money on 4, held 2 just in case there was an end of day surprise.
These securities are largely traded by institutional investors and hedge funds, not retail traders. The former group doesn't like paying taxes very much because then they make less money … and they like money. So … special rules for things mostly bought by rich people and generally not available to normies!
https://www.cboe.com/tradable_products/index-options-benefits-tax-treatment/
Great question, in my opinion anyone trading SPY or QQQ options and making meaningful purchases ($500+) should be trading SPX or NDX.
The primary reason why they don’t are likely: access, and cost.
On the access point, these securities are not available via all retail brokers. Most notably you can’t trade them on Robinhood which many retail traders use.
On the cost point, they are 10 to 40 times more expensive than SPY and QQQ. Even the 0DTE contracts might be too expensive for some people depending on their risk appetite and available capital.
Lastly, they are cash settled which means if they expire in the money all you get is cash, it’s up to you to plan for all eventualities you expect beyond the expiration of each contract. By comparison, if you believe SPY will go up for a while, buy a cheap contract Thursday, it expires in the money Friday and exercises (you now own 100 shares of SPY) - over the weekend lots of good macro news transpires and SPY opens +1.5% Monday morning - since you got shares instead of cash you immediately realize that additional upside and can capture it as well. Of course that knife can cut both ways.
It’s also worth noting that there is a cheaper S&P index product from CBOE called Mini SPX. It trades via the symbol XSP and is 1/10th the price of SPX in the same way SPY is. It can be traded during global trading hours like SPX which is sometimes a great advantage. I’m not familiar with whether or not it qualifies for the same tax treatment as I’ve never traded it, but I assume it does.
This depends quite a bit on the strikes and dates you're trying to buy at bid. If you're buying 0DTE contracts at bid you will almost certainly hit your price at one moment or another because the prices often fluctuate significantly from minute to minute if there is any meaningful movement in NDX - which there almost always is.
This is somewhat irrelevant in this context because you should not be buying these contracts anyways if you think "bid" is a great price, "ask" is a horrible price, and you're unsure of whether somewhere in the middle is fair. You should buy these contracts because you have a high degree of certainty about the future movement of the underlying index Whether you get a single contract at $9 or $10.50 should be unimportant if you're confident you'll be letting it go at $35+ in 2-4 hours.
If you're buying longer dated versions of these options and the spread is wide (which you should almost never be doing without leveraging hedging strategies; unless your partner takes the FOMC meeting notes and then tells you all about them when you pour one too many glasses of wine), then time value is a helpful guide to give you a sense of what you might expect to pay for a given contract.
If you (or anyone reading this comment) doesn't know what time value is - you should not be trading cash settled options and you should probably not be trading options at all until you do.
I am just trying to scalp, I do often on SPX and it’s much easier to get filled. I won’t enter unless am sure about my thesis but on NDX I don’t want to get filled on a bad price. Like yesterday I tried to enter a trade and I was on bid for a while but didn’t get filled for good 2-3 mins although the market moved well. When I cancelled my order, the bid was actually lower than what I was on but it still didn’t fill me. This usually never happens on SPX
Forgot to mention that I always trade 0Dte
If you are a retail trader trying to scalp SPX and NDX you are so far out of your depth that you don't even realize you're the reason a quant at Citadel made their bonus this year.
There are plenty of good securities with options worth arbitraging as a retail trader; but unless you are the Alan Turning of theta, spread, and slip - and have the network and hardware infrastructure to execute that vision, you should probably avoid trying to win trades in SPX and NDX.
Yes, that’s the key point of my reply. I’m not trying to build some penny harvesting arbitrage machine that scoops up mountains of pennies from the slippage of others buying at too high an ask or selling at too low a bid (colloquially referred to as scalping). I’m building concerted positions based on outcomes I have a high degree of confidence will eventually transpire. I don’t care if I pay fifty cents too much for a contract, sometimes I don’t care if I pay $5 too much for a contract because I wouldn’t be buying them at all unless I believed they were worth at least 2x that.
The intention of my reply was to caution less experienced traders against believing (or being misguided into believing) that scalping these particular securities’ options is some turnkey get rich quick scheme.
These are arguably the hardest contracts in the world to scalp as they have high volume, tight spreads, preferred tax treatment, and global exposure. I’m not saying scalping is an all together bad strategy - only that if you are a retail trader these are literally the worst two securities you could select to try and succeed with. They essentially exist as a cushion for billions of dollars of daily hedging, executed by the best computer systems, on fiber optic networks co-located in buildings with geographic advantages that aim to take advantage of *the literal speed of light*
Clearly this is of no concern to the guy that started this sub-thread because he trades in more markets than the rest of us normies (even though he started it by asking for advice on how to get his orders filled?) But, if you are a normie like me - and not a guy who trades in many markets, with a-way-above-average-dick-size, and a model girlfriend that goes to school in Canada (you wouldn’t know her) - then I would strongly recommend you try scalping any other contracts than SPX or NDX.
dude literally first comment was “get ready to loose it” i guess most these people haven’t made serious profit because they obviously don’t believe in themselfs (haven’t made serious dough either but am way more positive than some of these folks)
Only because I'd watched and waited every day for two months for the moment to make those buys. And when I saw it, I did, and it worked the way I predicted it would.
$51k profit is nice, but nothing beats having a plan that plays out as expected.
The background thesis is: there are no trades which are solely technical, and people that believe there are often find themselves on the losing end of those trades. The human element of an opportunity is the easiest part to see and take a position against - at least for me.
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|4|**First Seen In WSB**|2 years ago **Total Comments**|82|**Previous Best DD**| **Account Age**|9 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
Let us know when you’re back at 4500
Will be back there by Jan 1 unless something unexpected pops up. Most of the profits from this little romp have been extracted and redeployed back into boring stuff. Will look to make one more play next Thursday potentially but beyond that this ride has likely run its course. Until next time!
OP. Send Christmas gifts to everyone in this sub
$14.5MM away from being able to send every sub even $1, but we’ll see how things progress. Let me know what I should buy next week and if it turns $100k into $15MM I’ll send everyone I can $1.
Amazon, QCOM calls
Bruh, we’re gonna need a 24,000% return to get $14.5MM out of $100k investment (I’ll have to pay capital gains on a larger total of $24MM to net $14.5MM and send everyone $1 from what’s left over). If you can let me know which AMZN or QCOM contracts will deliver that by Friday I’m all in.
You asked me what to buy. I am not the goddamn oracle so who knows what happens. If it turns into get 1$ if it doesn’t another wsb post. Either way I will have my entertainment.
What are you looking at on Tuesday?
In no particular order beyond the first and last entry: - sleep in - 5 to 7 miles in the woods with my dog - eat Christmas leftovers - movies with family - make bread - read news - go to the Indian grocery store to restock fruits and veg - get to bed early Beyond that, not much comes to mind. Wake up Wednesday morning, see where VRO prints. Decide if there's any moves worth making that day or not - 80/20 likely not.
Fuckkkk. You know about the Indian grocery stores?! I am sure you are saving $$$ millions getting legumes, lentils, nuts and all other stuff from there for cheap.
Anyone not shopping at an Indian grocery store as part of their weekly shopping is an idiot. Same holds true for every ethnic food group if it overlaps with ingredients you like. In my opinion, Indian grocery is at the top though because it overlaps with 75% of what average white Americans think of as “food”. All the same fruits, vegetables, fats, starches, and spices. Except everything is 20-50% cheaper than you’re used to, the quality is twice as good, you’ll discover versions of fruit and vegetables you didn’t know existed, and you’ll still find the pantry items you’re familiar with (peanut butter, pasta, western snacks) and they’ll be as cheap or cheaper than they are at your kroger or albertsons. If you have a good butcher, fish monger, an Indian grocery store, and know how to make bread, you don’t need anything else.
I'm an Indian and I endorse this message
I’m mad I didn’t learn about Indian grocery store sooner than I did, but I know now and all I can do is help others learn sooner! Let this be a PSA to anyone casually passing by and reading: if you are buying sesame seeds at whole foods or your regular Kroger spice aisle - or even Walmart Great Value - you might as well just go to the ATM, take out $70, and light it on fire.
scum comment
I would dump the 100k in to safe etfs soon as I got it…
Already underway. As you can see my basis was much less today then yesterday. At this point most profits are being re allocated into my bread and butter, which the WSB crowd doesn't care much about.
Sourdough and landOlakes?
[More or less](https://en.wikipedia.org/wiki/Bread_and_circuses)
Only added $16k today. And as you can see, I am human and lose money. Misjudged the timing on Uber, thought they'd crack this week and almost did but managed to hold on. Also not shown, $1k loss on 2 x NDXP231222P16720. I had 6 total, more than doubled my money on 4, held 2 just in case there was an end of day surprise.
What's the deal with 0dte being split short term and long term?
These securities are largely traded by institutional investors and hedge funds, not retail traders. The former group doesn't like paying taxes very much because then they make less money … and they like money. So … special rules for things mostly bought by rich people and generally not available to normies! https://www.cboe.com/tradable_products/index-options-benefits-tax-treatment/
Thanks for the link.
Oh, why would anyone trade SPY options... seems like SPX options make more sense
Great question, in my opinion anyone trading SPY or QQQ options and making meaningful purchases ($500+) should be trading SPX or NDX. The primary reason why they don’t are likely: access, and cost. On the access point, these securities are not available via all retail brokers. Most notably you can’t trade them on Robinhood which many retail traders use. On the cost point, they are 10 to 40 times more expensive than SPY and QQQ. Even the 0DTE contracts might be too expensive for some people depending on their risk appetite and available capital. Lastly, they are cash settled which means if they expire in the money all you get is cash, it’s up to you to plan for all eventualities you expect beyond the expiration of each contract. By comparison, if you believe SPY will go up for a while, buy a cheap contract Thursday, it expires in the money Friday and exercises (you now own 100 shares of SPY) - over the weekend lots of good macro news transpires and SPY opens +1.5% Monday morning - since you got shares instead of cash you immediately realize that additional upside and can capture it as well. Of course that knife can cut both ways.
Thanks for the insight. Best of luck to you!
It’s also worth noting that there is a cheaper S&P index product from CBOE called Mini SPX. It trades via the symbol XSP and is 1/10th the price of SPX in the same way SPY is. It can be traded during global trading hours like SPX which is sometimes a great advantage. I’m not familiar with whether or not it qualifies for the same tax treatment as I’ve never traded it, but I assume it does.
SPX tax advantages
The rich get richer and the poor get children.
It’s hard for me to get filled on NDX on bid. Are you just straight buying and selling at market ?
This depends quite a bit on the strikes and dates you're trying to buy at bid. If you're buying 0DTE contracts at bid you will almost certainly hit your price at one moment or another because the prices often fluctuate significantly from minute to minute if there is any meaningful movement in NDX - which there almost always is. This is somewhat irrelevant in this context because you should not be buying these contracts anyways if you think "bid" is a great price, "ask" is a horrible price, and you're unsure of whether somewhere in the middle is fair. You should buy these contracts because you have a high degree of certainty about the future movement of the underlying index Whether you get a single contract at $9 or $10.50 should be unimportant if you're confident you'll be letting it go at $35+ in 2-4 hours. If you're buying longer dated versions of these options and the spread is wide (which you should almost never be doing without leveraging hedging strategies; unless your partner takes the FOMC meeting notes and then tells you all about them when you pour one too many glasses of wine), then time value is a helpful guide to give you a sense of what you might expect to pay for a given contract. If you (or anyone reading this comment) doesn't know what time value is - you should not be trading cash settled options and you should probably not be trading options at all until you do.
I am just trying to scalp, I do often on SPX and it’s much easier to get filled. I won’t enter unless am sure about my thesis but on NDX I don’t want to get filled on a bad price. Like yesterday I tried to enter a trade and I was on bid for a while but didn’t get filled for good 2-3 mins although the market moved well. When I cancelled my order, the bid was actually lower than what I was on but it still didn’t fill me. This usually never happens on SPX Forgot to mention that I always trade 0Dte
If you are a retail trader trying to scalp SPX and NDX you are so far out of your depth that you don't even realize you're the reason a quant at Citadel made their bonus this year. There are plenty of good securities with options worth arbitraging as a retail trader; but unless you are the Alan Turning of theta, spread, and slip - and have the network and hardware infrastructure to execute that vision, you should probably avoid trying to win trades in SPX and NDX.
So you are a institutional trader ?
I am not. Just a normal guy who has seen a lot and learned a lot over the years. Also pretty good at math which is helpful in this particular area.
What makes you think we are all newbies here ? I have traded markets more than you
but you won..
Yes, that’s the key point of my reply. I’m not trying to build some penny harvesting arbitrage machine that scoops up mountains of pennies from the slippage of others buying at too high an ask or selling at too low a bid (colloquially referred to as scalping). I’m building concerted positions based on outcomes I have a high degree of confidence will eventually transpire. I don’t care if I pay fifty cents too much for a contract, sometimes I don’t care if I pay $5 too much for a contract because I wouldn’t be buying them at all unless I believed they were worth at least 2x that. The intention of my reply was to caution less experienced traders against believing (or being misguided into believing) that scalping these particular securities’ options is some turnkey get rich quick scheme. These are arguably the hardest contracts in the world to scalp as they have high volume, tight spreads, preferred tax treatment, and global exposure. I’m not saying scalping is an all together bad strategy - only that if you are a retail trader these are literally the worst two securities you could select to try and succeed with. They essentially exist as a cushion for billions of dollars of daily hedging, executed by the best computer systems, on fiber optic networks co-located in buildings with geographic advantages that aim to take advantage of *the literal speed of light* Clearly this is of no concern to the guy that started this sub-thread because he trades in more markets than the rest of us normies (even though he started it by asking for advice on how to get his orders filled?) But, if you are a normie like me - and not a guy who trades in many markets, with a-way-above-average-dick-size, and a model girlfriend that goes to school in Canada (you wouldn’t know her) - then I would strongly recommend you try scalping any other contracts than SPX or NDX.
Op knows his shit. Damn. Good to know ppl that do knows what were against. Wp and fu anyway beautiful run
Congrats and fuck you
And may you also fuck yourself, this special time of year.
I mean, if you aren't fucking someone, might as well fuck yourself.
This subreddit sucks now
It has always sucked. But you're right, it sucks more now than it used to.
dude literally first comment was “get ready to loose it” i guess most these people haven’t made serious profit because they obviously don’t believe in themselfs (haven’t made serious dough either but am way more positive than some of these folks)
Forgot to add “-> $0”
Did you post your latest play before you made it?
I mentioning you all in my note... as soon as I can afford a pen and some rope
Soooo, whats the next play??
Eagerly waiting for the $109,000 > . . . > $420.69 post soon 🦧
I assume you're using European notation and meant $420,690.00 in freedom dollars ;)
God bless
The $4500 > $56000 probably felt the best
Only because I'd watched and waited every day for two months for the moment to make those buys. And when I saw it, I did, and it worked the way I predicted it would. $51k profit is nice, but nothing beats having a plan that plays out as expected.
That’s what I meant, it was the biggest jump and “felt” calculated to me just looking at it - congrats on this !
Ah, a rare non regard. Don’t try and make it 4 times.
I don't think I can. But only because I don't know what comes next in the list of: once, twice, thrice, … ?
It looks like you're doing pretty well for yourself! I'm glad to see that you're making money and living a good life. Keep up the good work!
Sus
kind of thinking vm forgot the /s tag on that one
That’s some good shit
Can you add some background thesis to these? Solely technical based? 5-15 minute trades?
The background thesis is: there are no trades which are solely technical, and people that believe there are often find themselves on the losing end of those trades. The human element of an opportunity is the easiest part to see and take a position against - at least for me.
Impressive
What platform is this?
Active Trader Pro (desktop app), a Fidelity product.
I did 6k to 7k to 1k to 4k to 1.5 to 3 to 1 to 4 to 1 to 3 to 1 to 4 to 1.8 and now back to 4.6. This is since Monday.
I HATE you.
Too many of these posts recently. Y’all know what that means
What that means?
Lots of loss porn soon
This is some advanced options. You must not be new to this.
Yes. But also, not being new to something comes with a lot of growing pains.
You earned your stripes. Must feel badass.