ContextLogic Inc., doing business as Wish.com, provides e-commerce services. The Company helps merchants to reach customers, as well as enable users to personalize shopping and find the products. Wish serves customers worldwide.
Yeah yeah... it gives options to be as conservative as you wish and at the same time as degenerate as you wish. Its a good thing. Accelerate the wealth transfer, which is what stock market is about.
Ouch. I just sold MSTR today. I’m planning to buy back in when it inevitably drops. Wish I sold more around 400 but oh well.
Playing options on this one is pretty risky, you can try to predict it based on btc, but from what we’ve seen, it doesn’t always move with btc
Yeah, there is a great video someone made about this that I wish I could find. Options are, as you know, gambling. If they were sure thing, or an easy thing, there would be tons of options billionaires out there. There aren't.
And there is a very distinct pattern that you can see on this sub all the time. Someone makes a good gamble and they make a good chunk of change and they start to think "EASY MONEY, I AM SO GOOD AT THIS."
So they turn around and gamble that big chunk of money they just won again, because they think... "do this a few more times I'm rich!" They may win again, BUT usually pretty quickly they've suddenly made a bad bet and lose almost everything, then they--like gamblers do--think, "I can make it all back!" So they take the money they have left and make an even riskier bet trying to recover it all in one go--only to lose that riskier bet. They rinse and repeat the process until they have fucking nothing left.
SO... I am not saying don't trade options. Options are fine if you have a covered strategy to limit losses, or you're not making risky plays with significant amounts of your portfolio.
What I am saying is gambling your whole $20k portfolio on Nvidia plays right now was not smart, but worked out for the guy. If it ended there and he went back to rational educated investing--great for him. The problem is when people hit that "big win" tripling their total investments and get that sweet dopamine rush, what tends to happen is they try to let it all ride again on stupid shit and keep doing it until they're stealing shit from their parents house to pawn for more money to feed the slots.
It pisses me off so much that they act like they work so hard and everyone else is faking it. Yet the man sits on Twitter and social media all fucking day and apparently spends the rest of the day gaming. I wish he really would go to fucking mars and stay there.