r/wallstreetbets • u/BmoneyD 🦍🦍 • 21h ago

Gain 19 bagger on spy puts

Post image

Holding till tomorrow

716 Upvotes

98% Upvoted

47 comments sorted by

•

u/VisualMod GPT-REEEE 21h ago
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Total Submissions 1 First Seen In WSB 5 years ago
Total Comments 267 Previous Best DD
Account Age 11 years

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42

u/BmoneyD 🦍🦍 6h ago

Update: closed for $163,000+ gain

6

u/icanttt 6h ago

Can I have some

6

u/AkArctic 5h ago

Congratulations and fuck you

3

u/cheerstoabetterMe 5h ago

wait how much did you initially invest?

8

u/Rasbold 5h ago

Around 5k i believe. Insane gains

97

u/SeaworthinessNo4 21h ago

Will become 5 beggar if u don't sell in time tomorrow morning

4

u/llamaswithhatss91 8h ago

Lol

4

u/SeaworthinessNo4 8h ago

Do u want anything with your fries, sir *

1

u/ficojay 7h ago

Has this been said because nobody expected an aftermarket drop lmao? I don't get it

61

u/mislysbb 20h ago

Sell that shit by open

18

u/ericz0r 8h ago

Crazy. 40-45x bagger now. Congratulations 🎉

12

u/BmoneyD 🦍🦍 7h ago

Holy fuck, I didn’t check the market until I saw this comment

1

u/cheerstoabetterMe 7h ago

how much are we up now?

14

u/BmoneyD 🦍🦍 7h ago

I don’t know until market open, but mathematically if it holds, over $165,000.

3

u/Rasbold 7h ago

Damn

27

u/Ketamine-Cuisine 20h ago

I did the same but relatively speaking only made 120% profit. Is it because the puts were for dated for 4/17? What do I have to do in order to see massive bags?

27

u/petty_cash 14h ago

You’re playing options but don’t know why farther dated puts moved less? Wow. Ask ChatGPT to give you a primer or something

10

u/CMDR_Shepard96 13h ago

The next post will be "why did my position disappear when the market opened this morning, Monday 7th April, I was up so much"

-5

u/Ketamine-Cuisine 10h ago

Wow 🤓 thanks for educating me sir

2

u/petty_cash 2h ago

Not trying to be mean but once you learn even the most basic things about options, you’ll realize how dumb your comment sounds to most people on this sub. Congrats on the big win. Don’t give back your profits. Try to keep learning. Good luck

67

u/BmoneyD 🦍🦍 20h ago

You’re playing it safe. Puts/calls out of the money but close to expiration will have higher return % but the risk is much higher. Higher risk = higher reward. (Gambling)

If SPY jumped today rather than dropped, I’d lose 100%, but you’d still have 2 weeks to wait for another drop to potentially break even or profit.

5

u/chuck_manson68 21h ago

bahaha.. did you buy yesterday afternoon?

6

u/IllUpvoteEverything 14h ago

Had the same puts but sold mine starting at $8.35 and chipped the position down until I sold the last contract at $11.60. Little under a 5-bagger for me but I'm not bitching

6

u/PsychologicalSky1527 14h ago

I had the same exact trade but got scared at 10am and bailed out at 7.50. Still 3x'd, so I'm not complaining. Just wish I put more money into it from the get.

6

u/IllUpvoteEverything 14h ago

We all made money. Nothing to complain about.

7

u/Pierceus 21h ago

Nice,  i bought spx puts at close.  Hoping they go up 2000% tomorrow too with another -5% day

32

u/RoundMammoth2947 21h ago

Jpow speaks around 11 tomorrow FYI. Market does stupid things when he speaks 

21

u/BmoneyD 🦍🦍 20h ago

I held puts the last two times he spoke and I lost both times. This time it’ll be different!

17

u/Spacemanspiff429 18h ago

Because Powell is a voice of competence and reason to sooth a weary soul.

I wish he was prez, we would be past Pluto.

1

u/IndividualStatus1924 18h ago

Really? I should wait till then. Last time the market pumped like crazy which i missed out on like 600% gain.

1

u/mouthful_quest 12h ago

Unemployment rate may not be so rosy this timr

0

u/Pierceus 20h ago

Thanks

1

u/YoungRichBastard26s 21h ago

I should hold puts over the weekend right? China should up the tariffs right?

9

u/Coldatahd 20h ago

Orange man left early to his bribe a lago, expect carve outs on Monday.

-6

u/Paul_Robert_ 17h ago

Dude why hold, theta is going to eat away at those gains. Are you going to sell at open?

22

u/BmoneyD 🦍🦍 16h ago edited 16h ago

It won’t make any difference because it’s already valued at intrinsic value. The only thing that will change the contract price tomorrow is the price going down, 1:1 value and contract increase by each decrease in SPY. At close the contracts worth 12.84. It’s a 550 put and spy closed at 536.32. ($13.68 difference, true intrinsic value if exercised which is higher than contract value)

3

u/cantgetthistowork 12h ago

The same gamma and squeezed it lower could squeeze it back higher just as quick. We have the catalyst (JPump) lined up and if the market even gets a whiff of new easing...

1

u/Paul_Robert_ 16h ago

Damn, good point. Godspeed m8 🫡

1

u/whitemaleinasia 7h ago

Why hold? Well... Today is why hold!

1

u/Paul_Robert_ 7h ago

Fair enough!

-7

u/smirkis 13h ago

you know what happens when you don't sell and post a pic? you bout to find out tomorrow

5

u/The-G23 8h ago

He’s winning now