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I absolutely love that Wall Street Bets has graduated from penny stocks to options bets. It was so frustrating in the earlier days of WSB to want to talk about
by rolltiide 7y ago
I absolutely love that Wall Street Bets has graduated from penny stocks to options bets.
It was so frustrating in the earlier days of WSB to want to talk about options. The rules were that "it was the place to talk about VIX and speculative options trades" but it was just full of trash about biomed penny stocks and FDA approval gambles.
It was what set it apart from other "finance" communities online and especially reddit: not being risk adverse.
But then it became similar to other finance communities by having an absolute anathema to anything bitcoin or crypto. The mods there didn't seem willing to see them as options trades that never expire. Crypto has similar returns to options contracts, without the time limitation or theta decay or an actual option. If you are an options trader, crypto is not risky. This still seems to be the case there, so thats been making it less interesting to me.
If I do fund an equities options account and want to trade earnings or some follow on swings for the rest of the quarter, I still like to enjoy the memes and laughs with the WSB crowd.
They really fall short on commodities trading, credit trading, crypto trading, amongst other markets.
- WA 7y ago> But then it became similar to other finance communities by having an absolute anathema to anything bitcoin or crypto. Thank god. I just recently joined WSB and would immediately quit if this was about shitcoin gambling. Options at least are based on stocks and they have real value. Way different than the inherent value of 0 of crypto BS.
- rolltiide 7y agoI trade them as digital commodities, which obliterates the stock-like value argument. Oil was 23 cents a barrel once and people were worried about it crashing to 10 cents. The utility of oil had not expanded and it was a viscous substance without any intrinsic value, yet. Oil doesn’t need to be physical to retain that reality. Most commodities, including the largest cryptos, have options on them. > really fall short on commodities trading, credit trading, crypto trading, amongst other markets. Exhibit A