Strap in. This one’s a doozy.
So, here’s a chap who took the entirety of his inheritance and decided it would be a capital ideal to put every penny of it into DJT $40 calls. Yes, 1,654 contracts, a seven-figure position, and all dependent upon the price ascent of a company that has done nothing but lose hundreds of millions of dollars. It began to dawn on him this might have been an error in judgement a few days ago when he made this post.
Naturally, the crowd in /wsb started throwing rotten tomatoes and heads of old cabbage at this fellow for his foolhardy behavior, and after enduring this for a while, he pushed back at the negativity.
Being the weekend, there was no price quote on DJT, but there was, of course, the new $TRUMP coin. This “investor’ became hopeful upon seeing the excitement about the coin, but he became dismayed to see that it began to fall apart just as swiftly.
On Sunday, it began to sink in that he might just be fooling himself. His notes that his grandfather worked hard all his life to amass this cash, and here he was, his own grandson, pissing it away on a hugely speculative gamble.
Oddly, instead of realizing his error and getting out what the still-substantial sum that had survived, he solemnly vowed “I AM HOLDING UNTIL I LOSE EVERYTHING“, which seems like a peculiar pledge. The reason, he claims, is to be “a martyr for Trump’s grift”. M’kay.
Then, at today’s open, comes the money shot………be sure to turn on the volume on this one.
I recorded myself instantly losing $500k of my grandpa’s money
byu/Smartmoney243 inwallstreetbets
Thus, we have some kind of twisted financial porn in which we observe a fellow (wearing a polka-dotted paper bag, just in case it wasn’t surreal enough) witness the opening price of his underwater options push his lose to the half-million-dollar mark.
I just checked the options price quote, and this fellow could still exit the position with $700,000 cash, stick it into the SPY, and be made whole some number of years down the road. Instead, though, he seems to have been poisoned with this generations HODL disposition, and in all likelihood, he will finally cry “Uncle!” a few days before expiration and with up with a 98% loss instead of 50%.
This is a vivid illustration of how this younger generation thinks. Sure, March 21st is a couple of months off, and it isn’t out of the question that DJT will, in that time, push higher and save this guy’s num-chuks. All the same, something compelled him to share this moment of psychological agony with all of us, which I find doubly peculiar.
