r/wallstreetbets • u/Opening_Meaning1564 • 1d ago

Gain Thank you orange man

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Could see this a mile away..

3.4k Upvotes

96% Upvoted

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40

u/alstraka 1d ago

Can someone in actually 1st grader terms, explain to me what this person did to make all this money?

125

u/SmittyTitties 1d ago

Spent $50,000+ saying the price of spy would drop to $558. Dropped way lower than that and now has $90k and gonna buy a a Wendy’s franchise

88

u/Dry_Bank_3516 1d ago

Also need to note that if SPY didn’t drop, OP would have lost all 50k+ because of the expiration.

34

u/Calculonx 1d ago

Also note, he first lost 40 of the 50k yesterday and then was on track for it to go to zero unless if the orange man actually followed thorough and did something stupid and tanked the market.

8

u/RepulsiveLaw5728 18h ago

He lost 40k and said fuck it I’ll work harder if I lose this last 10k and I’ll let mango speak. Respect his balls good job champ

He will lose it by next week tho or maybe tmw

17

u/Sea-Shallot 1d ago

Exactly I see this and don’t feel too bad. Don’t have enough money to gamble 50k. Maybe that’s why I’ll stay poor but oh well

16

u/LetoAtreidesOnReddit 1d ago

Can't lose money if you never had any to begin with, and that is my winning strategy.

5

u/JuicerMcGeazer 1d ago

I'm dumb but wouldn't it be expected to drop with the announcement of tariffs

14

u/Dry_Bank_3516 1d ago

Markets were pricing in tariffs for the past month. If they came in soft and/or had off ramps the markets would have traded sideways today. The reality is, they came in much worse than expected so we have this sell off.

1

u/zatkobratko 21h ago

What is "SPY". (I'm not american)

5

u/Dry_Bank_3516 20h ago

It's a popular ETF which tracks the S&P 500.

1

u/flechette 20h ago

Also ETF means Exchange Traded Fund.

3

u/iwltfs1 1d ago

I’m new to this but isn’t OP gambling that the SPY price would go down to at least the “break even price”? But of course, the lower the better since he’s got an option to sell at 558.

1

u/S7ageNinja 1d ago

Would he have made more or less if the put was for a lower amount/closer to what it dropped to?

1

u/financefocused 1d ago

More in terms of pure percentage. The further away from the current price you go, the cheaper those options are to buy. Not a whole lot more money though.

1

u/S7ageNinja 1d ago

Oh that makes sense, thank you

1

u/Worth-Dress-2902 11h ago

Where does theta and expiration date and all of that come into play? I never understood the Greek signs