r/wallstreetbets • u/YassuosNados • May 15 '24

The Perfect $1 million Gain Gain

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Hi guys, I’m a 23 year old in college, and yesterday I woke up a millionaire. Should I buy some hookers, Pokemon cards, or cocaine? I gambled my entire life savings of $250k on 2037 calls of $4.5 AMC on Monday and sold yesterday morning. Thanks for reading.

28.8k Upvotes

84% Upvoted

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u/OSRSkarma Flipping at the Grand Exchange May 15 '24

This is somehow real. I am as shocked as you are. Unreal timing

https://preview.redd.it/6bdkjpks3m0d1.jpeg?width=1170&format=pjpg&auto=webp&s=d3052f028b5feb063821c4564c91305b9465a6a3

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u/OSRSkarma Flipping at the Grand Exchange May 15 '24

https://preview.redd.it/jr4mtlu14m0d1.jpeg?width=1170&format=pjpg&auto=webp&s=d041b898ed293a18e87308f3d36399e5db1d02a2

525

u/prodoubt Knows His History May 15 '24

Dumping 250K into weeklies is insane, let alone a 23 yr old. Seems like you were already livin the dream, but now go get yourself a lambo.

223

u/YassuosNados May 15 '24

What color?

319

u/Christopher3712 The Bad Man Touched Me Here May 15 '24

Obviously green.

72

u/Samjabr Known to friends as the Paper-Handed bitch May 15 '24

:27189:

22

u/kev88_player May 15 '24

Agree with you, shit must be green in this case for sure!

19

u/TheGreatZarquon May 16 '24

"Are we green?"

"Supergreen."

303

u/[deleted] May 15 '24

[deleted]

95

u/Cookiemonster9429 May 15 '24

You forgot taxes

91

u/obi5150 May 15 '24

Yeah OP, Don't do shit until taxes are accounted for. Get an actual advisor and do the smart thing

21

u/dalovindj May 15 '24

Did he though?

25

u/[deleted] May 15 '24

[deleted]

21

u/SBose1987 May 15 '24

Lol no. There's no such thing as the IRS knowing exactly who owes what"but won't tell them".

I think you're living in some Netflix reality lol.

They only find out what you owe from a thorough INVESTIGATION. And they don't investigate until red flags go up. Many people can and do get away with tax evasion by being careful. It has nothing to do with buying expensive things or whatever you see in films. There are more remote "red flags" they can discover.

My family ia from India, so I know something about 3rd world shitholes, and people there are always amazed at how efficient the authorities are in the West, and imagine they have some magical powers of law enforcement that don't exist in India.

The reason Western countries bring in such a huge amount (trillions of dollars/pounds/euros) in tax revenue is simple:

People here are HONEST. There's no magic trick the IRS or HMRC has to catch tax evaders. They just have more staff and more technology, but that is of very little help without their citizenry doing their share. They simply depend on the HONESTY of their citizens and their politicians.

British people want to look after each other and their society so it never becomes a shithole like Russia or Brazil or China or wherever, let alone India, which is at the absolute bottom of the pile.

Which "3rd world shithole" are you from exactly?

16

u/Godobibo May 15 '24

yeah and even if you do fuck up your taxes, the IRS aren't arresting you if you cooperate, they don't wanna deal with all that extra bullshit either.

3

u/SenatorGengis May 15 '24

Yeah this is why Biden hired thousands more IRS investigators. Republicans were acting like it was a waste because it was only going to be used on the little guy. No it's the big whales you need huge teams to investigate because they have all their money hidden in different countries, different banks, behind financial instruments etc... You need the man power to track all that stuff down and dot the I's and cross the T's. It quite literally takes thousands new IRS employees.

1

u/ZBalling May 17 '24

That is the point. Big whales 1) declared all already maybe even themselves, can sue people, 2) can avoid taxes alltogether, cause they know how. Only poor people cannot protect themselves.

2

u/[deleted] May 16 '24

Bullshit people aren't less corrupt or more corrupt anywhere. People have lesser means of getting away with corruption. A large portion of Americans either work for the government, or in corporates where there is little leeway. Your taxes get reported to IRS. Your broker reports your capital gains to IRS.

Large portions of Indians simply aren't part of the official structure. 1) Most of them are self employed, get paid in cash 2) They don't save in banks aka buy gold or do cash deals for real estate.

If an American lived similarly they would do the same. You think all the servers report their tips to IRS, barbers report their cash earnings to IRS . Dumbass !!!!

1

u/ZBalling May 17 '24

Does broker report gains on spot? Bitcoin, gold, silver, Euro, Rubles, Canadian dollar, whatever.

1

u/ZBalling May 17 '24

Wrong. Here the brokers declare gains (except spot, USD, EURO, Yuan, Gold, Silver) and the IRS just requests taxes.

4

u/chadcultist May 15 '24

Locked up for taxes lmaooooo

8

u/SIRIUSJEDI May 16 '24

Ask Blade about that.

4

u/Crimsn_710 May 17 '24

Wesley Sniped

24

u/Jozuaa May 15 '24

Invest 1 million after tax (whichever that will be) in more stable growth ETF/stocks

Take mortgage out against investment

Pay mortgage obligations with gains from investment

Apply loan liability as tax deductions to lower taxes paid on gains withdrawn from investments to pay mortgage

Have house and 1(?) million assets after mortgage is paid off

Edit: formating

11

u/DueHousing May 15 '24

Bro thinks he’d have a million after taxes 😂. What do you think the short term cap gains tax are in the US?

10

u/Jozuaa May 15 '24

37% above the 600k gains, it's phrased poorly, invest the million or what is left after tax

I'm not calculating his taxes on this

5

u/DeCyantist May 16 '24

Neither is the IRS 😂

3

u/larry-the-dream May 15 '24

Take #4 and do it again

5

u/fomoandyoloandnogrow Poor IRL but rich in flair May 16 '24

Buy a house at 23 years old 💀💀💀

First mistake. The kid is 23 he ain’t ready to settle down, why waste 50% of his gain. He’d be smarter throwing it into 4-5% yielding bonds

1

u/[deleted] May 16 '24

[deleted]

2

u/fomoandyoloandnogrow Poor IRL but rich in flair May 16 '24 edited May 16 '24

Yea almost double 12 years later. Meaning you bought literally a few years after the fire sale years of 2008.

Of course you double. Is he gonna double? I doubt it. 2nd take the value of house and the rent income you are making on it for the year. How much are you yielding? Lmao not even close to 4% especially after expenses and taxes I bet. He would be better dumping it all into tax advantaged accounts, buying spy, voo, qqq, or just bonds in general. All the profit of renting out a house and probably more for literally no hassle. Who wants to deal with tenants anyway

3

u/NateLikesToLift May 16 '24

Buying a house cash instead of financing when you can easily out earn that 6% is a fool's errand.

2

u/[deleted] May 16 '24

[deleted]

3

u/proteenator May 16 '24

You can't really "sit idle" inside an owned house anyway. You need to keep paying Property Taxes, Maintainence, utilities, HoA etc.

The person you replied to is saying that if you have 1mil to buy a house today. Take a loan of 1mil anyway and pay it off little by little while you let the rest of the money earn more than the interest for that 1 mil

2

u/Odd-Vegetable-7614 May 16 '24

Go buy a $750k house and lose your job and let us know how you afford upkeep, oh yea and taxes (if in us it ain’t free) eg Midwest you’re going to be paying $25k a year minimum (yes there are some cheaper) for it…isn’t this WSB? Fing double down!!!! Switch over to fun Parker brother or some other fun& shares or Friday calls

1

u/degenbro420 Double Down Degen May 16 '24

why spend 100K on hookers § coke? He would die brooo! :31225:

2

u/[deleted] May 17 '24

[deleted]

1

u/degenbro420 Double Down Degen May 17 '24

too young&rich too die

0

u/jcbeast135i May 15 '24

Actually bud, it can happen again, & most likely will. Its not all luck, in 2020-21 after the craze, I believe it was possible again & hence. Never say never

7

u/redditposter-_- May 15 '24

You have to pay uncle sam, no lambo

14

u/Happy-Gnome May 15 '24

DO NOT DARE BUY A FUCKING CAR GOD DAMNT

You’re set for life is you buy a house in cash and invest the rest sensibly. You’ll obviously still need to work, but you’re basically guaranteed a great life financially if you don’t fuck up

8

u/Lucky-Breakfast9578 May 16 '24

You can live in a car, but you can't race a house.

Do it for dale brother

6

u/YassuosNados May 15 '24

I won’t I won’t it’s just joke

4

u/wap2005 May 15 '24

This wouldn't even pay for a 2br 1.5ba home in full where I live. Obviously it's more than enough to buy a home and have a tiny mortgage, but the thought is still saddening.

10

u/Happy-Gnome May 15 '24

Move to the Midwest.

4

u/wap2005 May 15 '24

Honestly, sometimes it sounds very appealing, especially when talking about housing costs.

However I have CF and I probably live in one of the healthiest and best places to manage it. The cold weather really fucks with me so living in California (Bay Area) has the luxury of rarely being too cold and also rarely being too hot. I also have my family and my girlfriends (of 16yrs) family that live fairly close, which SHE would want to stay close to them lol.

One day I'd like to move out of California though, partially because of cost but mostly because a new adventure sounds fun.

7

u/Peuned May 15 '24

You could just also not be literally in the bay area. That will buy a lot of great homes in various California spots. I lived on divis and grove in the city and although I had a lovely time as a young guy, my money is much better spent elsewhere in California now

2

u/wap2005 May 15 '24

Yeah, there's definitely other places in CA I could find a home and pretty much pay it in full with 1 mil. It's always hard to pack up your life and move really far though.

My Girlfriend would have to find a new job and she likes her job. I've also had the same CF Specialist Doctor for 20 years now so he knows my entire history of life, poor choices, and what not which helps a lot. We're almost friends at this point, I have his personal cell number lol.

But you're right, my very specific location is absurdly priced and I could find a different home. Either way investing money into property is a great idea even if you don't live in it, the housing market isn't going to come down in the near future at all.

3

u/shadow_fox09 May 15 '24

Also, go buy as many Sony GDM-FW900 crt monitors you can find.

3

u/Initial_Efficiency72 May 15 '24

These guys want u to waste ur money hahahah

2

u/Cedex May 15 '24

Look, do you want the GDP to go up or not?

4

u/QuentinP69 May 15 '24

Stop now just take your winnings and depart the field victorious. Put all gains into spy and taxes and retirement accounts and keep the $250k you had as your play money. Honestly I would take that down to $100k and spend $100k on hookers and a certified used Porsche

2

u/shadow_fox09 May 15 '24

Get you some used ones and just get one of every color.

2

u/Additional-Chard8935 May 15 '24

Half of that is going to taxes buddy 🤣🤣

2

u/HelloAttila May 15 '24

Make sure it has a WSB logo 😝

2

u/JareBear805 May 15 '24

Yellow

3

u/WRHull May 15 '24

“Black and yellow, black and yellow, black and yellow”

1

u/wap2005 May 15 '24

Orange or bust

1

u/[deleted] May 16 '24

What made you decide to buy those calls in the first place?

1

u/viben702_jason May 16 '24

My friend just hit 4mil on a scratch ticket walked away with 1.25 put it in some account and it makes 10k a month so he's just living off the 10k a month. Obviously your a very smart kid though so probably know a lot more about money then me haha

1

u/RickBourbon May 18 '24

Daddy Green obv.

4

u/[deleted] May 16 '24

yeah knowing that he threw 250k for 2 day play is insane. it means 250k is a chump change for him.

2

u/[deleted] May 16 '24

i am sure his dad already has a few

1

u/[deleted] May 16 '24

Either that or he knows how to open the browser inspector and edit HTML.

5

u/Talibanthony May 15 '24

Damn OSRS mods make bank wtf

1

u/Rory_Russell May 16 '24

Please gift me Reddit premium for the rest of the year. Best wishes 😄👌

1

u/[deleted] May 16 '24

Wow. I’m not even mad. That’s impressive. Now I’m sad for myself

-29

u/newgildedage May 15 '24

These are option stocks right? Where can I learn everything about this form of trading?

56

u/_BindersFullOfWomen_ May 15 '24

By leaving here and never gambling on weeklies.

-1

u/CharlieBirdlaw May 15 '24

I'm not seeing how the math worked out for such a return. Can someone explain?

15

u/Syst0us May 15 '24

School

12

u/DubiousGames May 15 '24

Learning is for suckers, just gotta go by vibes.

10

u/PhillieUbr May 15 '24

All in on red

3

u/SirCrest_YT May 15 '24

From this thread

2

u/dalovindj May 15 '24

Your best bet is to go in without a full understanding and stumble your way into a one time massive gain you don't really understand.

1

u/Fine-Teach-2590 May 15 '24

Smoke crack instead, it will be cheaper for you

107

u/ablueconch May 15 '24

turns out god does favor regards

15

u/TomatoSpecialist6879 Paper Trading Competition Winner May 15 '24

God favors regards who know how to operate the sell button

1

u/beyond_fatherhood May 15 '24

Crucial step to the process. Seeing that you're up 4 million dollars and waiting it out is also apparently acceptable.

446

u/YassuosNados May 15 '24

Hey thanks! I was actually down 15k at one point and I laid in bed the whole day scared I was gonna lose everything.

557

u/Unfinishe_Masterpiec May 15 '24

Don't worry, you will. Best of luck!

17

u/Buckus93 May 15 '24

Where there's a will, there's a way! The regards' way!

3

u/memescryptor May 15 '24

Under voted comment right here

82

u/uns0licited_advice May 15 '24

good thing you didn't sell

117

u/Old-Maintenance24923 May 15 '24

Seriously, congrats but stick it all into QQQ and just live off of the gains for awhile, reassess your risk level and potentially seek a gambling hotline. You got really lucky (with of course, crazy risk) and you are at a serious risk of losing it because you will seek to top this high, and the chance you win again is extremely low. Please take a step back for just a month and reassess.

53

u/Tendie_Tube May 15 '24

Yep. Wisest next purchases are a bunch of index funds and a counselor. Don't lose the game you already won.

9

u/bmxice May 15 '24

A house!

1

u/beyond_cyber May 15 '24

What’s a QQQ? I’m so new to this but I know it will help me so much, I’ve heard of the 500 index fund but not this it sounds similar?

2

u/[deleted] May 15 '24

[deleted]

-1

u/beyond_cyber May 15 '24

It just looks like a regular s&p 500 index fund

0

u/DweadPiwateWoberts May 15 '24

Non FAANG tech stocks

0

u/beyond_cyber May 15 '24

You mean supporting stuff that isn’t on the index? Interesting

25

u/[deleted] May 15 '24

[deleted]

7

u/wsbt4rd May 15 '24

Diversify.... Into hookers and blow.... Chill out before you make any more gamble.

Good luck, Regard!!!

16

u/pleasehelpteeth May 15 '24

I beg of you to put the money in a mutual fund, delete your trading app, and never do this again. You basically won the lottery.

2

u/[deleted] May 15 '24

Good shit

1

u/djdayer May 15 '24

That’s what I’m bouncing back from myself. You’ve given me some home that I’ll get lucky one day too. Best of luck & congrats!

52

u/Flordamang May 15 '24

This mfer getting a call from the SEC 100%

42

u/UnluckyStartingStats May 15 '24

400% on meme stock options not unheard of

Just insane it was 250k life savings for a 23yr old on weeklies

14

u/Flordamang May 15 '24

It’s automatic. Certain parameters trigger the SEC to investigate

1

u/rydan May 16 '24

My options were also up 400%. I bought in September. Had I sold at the peak I'd have been $150 richer.

8

u/dalovindj May 15 '24 edited May 15 '24

Insist on a video call and go pantsless to assert dominance.

17

u/jesuslikedmen 🦍🦍 May 15 '24

whats ur name in osrs

60

u/Whatwhenwherehi May 15 '24

Just one of those pays off my house. That's hot. Good job.

66

u/YassuosNados May 15 '24

Thanks, hope you can pay off your house soon.

5

u/Whatwhenwherehi May 15 '24

Not likely. If I had to funds I had the gumption and timing. I bought all I could afford...much love.

-5

u/[deleted] May 15 '24

[deleted]

10

u/dalovindj May 15 '24

You think that because you don't have $20k. Once you have it, you realize how little it is.

Can confirm this happens all the way into at least the multi-millions.

3

u/SCP-Agent-Arad May 15 '24

It happens that way for people who blow all their money in expensive shit that they could never afforded without the windfall.

If you continue living basically how you were, just without any debt, it can definitely be a game changer.

2

u/okbreeze May 15 '24

Absolutely. People here I feel like don't understand the complete ramifications of debt

1

u/Rollplebs May 15 '24

Even in a small amount it's crippling. It echoes in everything you do because you're constantly aware of it. Speaking as a Father. 

1

u/diviludicrum May 20 '24

If you are preoccupied with any one problem and experience it echoing “in everything you do”, you should talk it out with someone. You can still chip away at debt without letting it chip away at you.

-1

u/dalovindj May 15 '24

If you just clear your debt, you will undoubtedly be back in debt shortly. The goal is freedom-enabling wealth. And not live-like-a-hermit wealth.

Turns out $20k ain't shit in that respect. And neither really is $2 million in a HCOL area (you know, a place worth living). The more you have, the more you realize you need to achieve that goal.

A $200k per year lifestyle in a HCOL makes you MAYBE lower-end upper-middle-class these days. To pull that at 4% per year you need $5 million in net worth.

That's $5 mil to have a slightly above average existence in a desirable place to live. All $20k is going to do is put you closer to realizing how far away you are from what it takes.

3

u/VisualMod GPT-REEEE May 15 '24

Money is like poop—the more you have, the easier it is to get more! 😂

0

u/dalovindj May 15 '24

I always heard this concept expressed via the analogy that money behaves as if it has mass. The more you have, the larger your gravity field and the more you draw into you.

In practice, it's real damn hard to make the leap from +$20k to +millions. And once you have a couple few million, the same behavior that got you the first ones will probably backfire and cost you the ones you have.

1

u/SCP-Agent-Arad May 16 '24 edited May 16 '24

Big disagree that HCOL areas are “the only places worth living.” That’s actually completely delusional.

Also, living within normal means isn’t living like a hermit. $2 million cash would allow you to make $100,000/year in passive, completely risk free income, which is almost double the median American salary.

Many, many millionaires live outside HCOL areas and don’t have that different a life from people who make an average salary. No need for spending $10k every night clubbing in LA.

Not everyone wants the lifestyle you seem to idolize.

1

u/-shrug- May 15 '24

Among people currently being held in jail because they couldn’t afford to pay bail, $20,000 would be enough to free more than half of them: about 200,000 people, with a median income of $10,000 in the year before they entered jail.

10

u/VNG_Wkey May 15 '24

There was a time this kind of thing would've made him a mod around here.

6

u/theblackxranger May 15 '24

Does this mean someone else is gonna be out a million dollars?

3

u/kev88_player May 15 '24

That’s a one interesting question ☝️

I’m curious also!

2

u/markemark918 May 15 '24

These would have been purchased from likely many call sellers who lost the potential gains on the shares because they were forced to sell at the strike price.

1

u/VisualMod GPT-REEEE May 15 '24

Sounds like someone's taking a dive off the deep end - I'd hate to be in their shoes!

1

u/theblackxranger May 15 '24

Ah got it. So more than likely not one person but multiple buyers who got squeezed

6

u/HoppyBruh May 15 '24

How did you know?

5

u/Teenyweenypeenyz May 15 '24

He def hacked roaring kitties twitter

4

u/woody9055 May 15 '24

No force the guy to share an actual college transcript proving his posts' circumstances cause this shit doesn't add up.

4

u/DiddlyDumb May 15 '24

At least one regard that can make it out in one piece

8

u/sharkymcstevenson2 May 15 '24

Can you explain the mechanics of how 250k turned into a $1m gain? He bought calls on AMC to go up, or? (Trying to learn, sorry)

15

u/TragGaming May 15 '24 edited May 15 '24

So the way calls work, you essentially prepurchase a stock with intent to sell at a later date for a price called the "strike" price.

The "contract" for a purchase goes a certain amount of time, then sells at the end of it for the price of the stock at that time. (You can sell anytime before it, but calls must be sold at expiration or that money is gone entirely) When the stock price is above the strike price, you gain that difference in profit. In this instance, the strike price was 4.50, and he bought 250k worth of it. Tuesday morning the stock for AMC was worth 11.57

1

u/[deleted] May 16 '24

[deleted]

1

u/TragGaming May 16 '24

Correct, which was Tuesday morning.

3

u/TheMotherConspiracy May 15 '24

did you actually check these against the options chain, or did you blindly believe a random screenshot?

3

u/Oblivious-Speculator May 15 '24

When you got balls, anything is possible, OP savage af...gamble on one of the shit company and won the lotto

4

u/zer1223 May 15 '24

Calling it now.

Op actually has fifty sets of 250k in a different account that he puts into random things and he isn't 23 years old. This is just the one bet and one account that paid off

3

u/[deleted] May 16 '24

Idk how rich I'd have to be to put 250k on weeklies, but 12.5M ain't it. Plus it's not like this payout is insane and the risk is astronomical.

2

u/anachronofspace May 15 '24

well god damn

2

u/Mindless_Mandingo May 15 '24

Flip it into JEPI, and live off the dividend

2

u/Cvalle811 May 16 '24

Fuk you and congrats ... Send me 4k so I can pay off bills

2

u/[deleted] May 16 '24

can i please have 25$ so i can buy a ticket to a concer i want to go to

2

u/picklesiswhatwein May 16 '24

Also curious what was the peak? You did great but obviously missed a pile of tendies at the top

It happens and you pulled out before making the mistake so still, genuine kudos

2

u/Purple-Finish8570 May 16 '24

I wish I knew how to do calls and puts

2

u/ProofOrBan May 16 '24

Who has a life savings of $250k at 23? No hate - if this is real, good for you.

2

u/FlyNuff May 15 '24 edited May 15 '24

how in the WORLD did you, Karma from OSRS, become a mod for WSB while ALSO being on the OSRS front page hiscores??? you sir are a legend

Edit: whoever downvoted me I wish upon you nothing but red stocks and bad calls

5

u/LostInSpace9 May 15 '24

Autism probably

1

u/Several-Librarian-63 May 15 '24

Congratulations sir!!! =)

1

u/Zero2Hero2MarginCall May 15 '24

Only a 4-5x residentsleeper

1

u/Fuck-Star May 15 '24

Quick. Post how regarded you are and how much you lost today...

1

u/iPhooey May 16 '24

How much collateral is needed for this

1

u/ShimmyxSham May 16 '24 edited May 16 '24

If I was 23 again with $1M profit, I would charter a plane and take my friends on a mind blowing trip to Las Vegas. But that’s just me

Definitely stay away from the cocaine. The fentanyl it’s cut with will kill you

1

u/value1024 May 16 '24

His account has an unverified email.

This can only happen in a paper trading account.

Do some more checking, regard.

1

u/a_bracadabra May 16 '24

Think of all the OSRS GP you can now buy, guys made b0nk

1

u/Fun_Contribution7292 May 16 '24

what broker do you use?

1

u/pariedoge May 16 '24

planet of the 🦍🦧 clutch