Here is yet Another Degenerate Tale. I’ll just let you read this:
So, basically, the poor sumbitch loaded up on short-dated META calls about where I’ve circled in green, dumped them for an almost total loss the next day (red circle) only to see it blast higher the next day into a huge profit. I would add to this that on Friday it blasted even higher still (he wrote the missive above on Thursday, which doesn’t take into account the even more-awful-profits-forsaken).
It’s nice that he isn’t jumping off a bridge, but good heavens, this is the kind of bonkers stuff these young “traders” are doing. The horrid irony, of course, is that the crazy gains are EXACTLY what an insane market like this produces, is EXACTLY what he was aiming for………..but he managed to pull defeat from the jaws of victory.
