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GME is still up 20x isn't it? Someone who invested in that meme stock won't have lost anything. I wouldn't mind those returns.

unholiness 4y ago
I'm subscribed to /r/wallstreetbets for the comedy, and the peak activity was definitely when people were throwing in money at the $250-$300 level trying to will it to $420.
- Handytinge 4y ago
  I bought at $390 I'm fairly sure. I don't regret a thing.
  - JumpCrisscross 4y ago
    > bought at $390 I'm fairly sure. I don't regret a thing. Which is the point. Gambling isn’t bad per se. People enjoy it. But the system should reallocate from those buying AMC at 390 to those who aren’t.(Full disclosure: I got talked into buying some Wish. So you’re in company, albeit a regrettable one.
zmgsabst 4y ago
AMC is up 3x if you bought it before the meme frenzy (Dec 20) — and 20% from where I bought it during the meme frenzy (Apr 21). S&P500 is up 25% if you bought it before the meme frenzy and 33% if you bought in April, like I did. People who spotted it early are still well ahead of S&P500 — and honestly, I wouldn’t be mad at 20% vs 33% returns… because that meme frenzy saved AMC. Of course, I sold when it was 5-6x what I paid… so that’s far and away my best performing stock of 2021.
tomatowurst 4y ago
I find not only losses emotionally hard but missed opportunities seem to invoke just as more distress. for instance, on thursday I bought a put for a stock that I didn't think was going to make earnings on Friday open. Before the day closed the put options were at 55%. The next day, they made earning and my same put options were trading -30% (IV crush). So in panic and afraid of theta decay, I sell to close on Friday. On Monday, today, I see the stock has hit my OTM strike price and had I held on to those put options I would be looking at 720% ROI, or a 7-bagger. It really hurts when this happens. I really do not recommend trading options.
- robmsmt 4y ago
  the problem with options is that you need to guess the right direction as well as the timing. With stocks you just need the former
  - stocknoob 4y ago
    If you sell spreads you have time on your side. Still need direction generally correct.
TheHypnotist 4y ago
I guess that depends on where you got in. It's like 80% off it's high.

unholiness 4y ago

I'm subscribed to /r/wallstreetbets for the comedy, and the peak activity was definitely when people were throwing in money at the $250-$300 level trying to will it to $420.

Handytinge 4y ago
I bought at $390 I'm fairly sure. I don't regret a thing.
- JumpCrisscross 4y ago
  > bought at $390 I'm fairly sure. I don't regret a thing. Which is the point. Gambling isn’t bad per se. People enjoy it. But the system should reallocate from those buying AMC at 390 to those who aren’t.(Full disclosure: I got talked into buying some Wish. So you’re in company, albeit a regrettable one.

zmgsabst 4y ago

AMC is up 3x if you bought it before the meme frenzy (Dec 20) — and 20% from where I bought it during the meme frenzy (Apr 21). S&P500 is up 25% if you bought it before the meme frenzy and 33% if you bought in April, like I did. People who spotted it early are still well ahead of S&P500 — and honestly, I wouldn’t be mad at 20% vs 33% returns… because that meme frenzy saved AMC. Of course, I sold when it was 5-6x what I paid… so that’s far and away my best performing stock of 2021.

tomatowurst 4y ago

I find not only losses emotionally hard but missed opportunities seem to invoke just as more distress. for instance, on thursday I bought a put for a stock that I didn't think was going to make earnings on Friday open. Before the day closed the put options were at 55%. The next day, they made earning and my same put options were trading -30% (IV crush). So in panic and afraid of theta decay, I sell to close on Friday. On Monday, today, I see the stock has hit my OTM strike price and had I held on to those put options I would be looking at 720% ROI, or a 7-bagger. It really hurts when this happens. I really do not recommend trading options.

robmsmt 4y ago
the problem with options is that you need to guess the right direction as well as the timing. With stocks you just need the former
- stocknoob 4y ago
  If you sell spreads you have time on your side. Still need direction generally correct.

TheHypnotist 4y ago

I guess that depends on where you got in. It's like 80% off it's high.