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Buying 20k of options when there's a 99.99% chance of them being worth $0 is pretty unusual, unless you're actively regularly trading in the millions.
by vkou 3y ago
Buying 20k of options when there's a 99.99% chance of them being worth $0 is pretty unusual, unless you're actively regularly trading in the millions.
- synaesthesisx 3y agoOr you're a subscriber to /r/wallstreetbets
- xyzelement 3y ago// unless you're actively regularly trading in the millions. A lot of people/organizations bet in the millions.
- vkou 3y agoSure, and the SEC investigation will probably figure out if this is one of a thousand daily trades that got placed by the beneficiary, or if he opened a trading account last week, and this is the first time he's buying options.
- WJW 3y agoEven worse than opening a trading account last week: they've got a looooong history of doing nothing but the most boring buy-and-hold-index-funds investing you can imagine, until they suddenly bought 20k in lottery tickets that just happened to hit their one-in-a-billion chance to pay out.
- xyzelement 3y agoThat was the point of the post you originally replied to...
- drexlspivey 3y agoIt’s a pretty common occurrence in r/wallstreetbets