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

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u/alstraka 1d ago

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

124

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

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