Not familiar with the broker so not 100% but looks like he bought 315 $10 calls on Nokia that expire tomorrow (2/5/21), and it looks like he bought them at the height of the Nokia pump last week since ~$76000/315 = ~$241 per contact, which makes his breakeven ~$12.41. So, he paid a very heavy premium, and probably bought the calls when NOK was trading at $6+.
So he basically bet that Nokia will be $12.5+ by tomorrow
Its at $4.35
It was only once I got to 5 that I was I confident that this was parody
LOOOOOOL
the wsb losses are as fun as the trump bet losses
The similarities are really wild. Like, people buying at $300-400+ because “the squeeze hasn’t even happened yet!!!” when the stock had literally just squeezed from $10 to $400 in a week and a half. Basically betting on an event happening that already happened. Plus, the entire creepy cult-like behavior with any doubters being told to ignore all obvious evidence, and anyone trying to tell them maybe they were wrong being mass-downvoted and shamed.
jesus christ this is depressing
So looking at it from GameStop’s perspective. They should put DeepFuckingValue on the board, right? Keeps you in the news, reminds everyone this is a real company. The more this story keeps going, the more people are going to actually go into GameStops and buy whatever the fuck GameStop sells, right?
The people who rode the wave of stupidity to riches but weren’t true believers are the Mitch McConnell of this story.
You won’t be taking questions because this is The Champagne Room and we know the rules.
But,
He made that in 2015, like at least four CUHRASHES ago.
The “30 (20/40/x/etc) cents?” reply is gonna have a lot of legs if it doesn’t already.
Been scalping DOGE volatility for pennies on the dollar today. I’ve got that same feeling you had in 2004 when you ran $200 to $500 at 25 NL in your first 1500 hands at PartyPoker. I clearly have it figured out.
Pretty fun tho.
Amazon actually lived up to it’s wildest hype and then some. But still you could have gotten it for 1/6th it’s dotcom peak a few years later.
Pretty much every other high-flier from the dotcom bubble did much worse.
In grad school I had a conservative professor who was pretty much of an asshole but literally every class he would say “we hear a lot about rights, but that about the right to be an idiot?” These WSB morons absolutely deserve to lose all their money and I have no sympathy whatsoever.
There are a few good stories to come out of all this, probably like 1 out of every 1000 stories. But i did see a few people who donated some of earnings to charities, and one with a guy who donated a bunch of consoles and games (purchased at Gamestop) to a local childrens hospital.
Call me an asshole but you should never donate shit to a children’s hospital. Do you realize how much money these places pull in? They can buy their own consoles. Donate it to other charitable organizations instead.
This country needs a crash social science research program dedicated to studying how social media and internet forums destroy our minds. It’s the most dangerous thing in our society right now. Our ape minds just were not made to handle self-reinforcing echo chambers with likes and downvotes and dank memes and whatnot.
In thirty years, people will look at social media the way we look at smoking cigarettes today. It’s like when you see old-timey TV from the 1950’s and they had ads for smokes during children’s cartoons. People will look back at 2021 say “damn, I can’t believe they let people use Reddit without therapist supervision.”