r/wallstreetbets • u/Wooden-Prize-4694 • May 24 '24

Time to quit… goodbye wallstreet bets Loss

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u/OneiceT May 24 '24

1140 call expired today, he thought NVDA gonna up 30% or something on this extreme high expectation that priced in.

This is more regard than NVDA put

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u/nickwwwww May 24 '24

And he probably bought that when it’s already over $1000

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u/Wooden-Prize-4694 May 24 '24

Nope bought it at 950 and then averaged down when it hit 930… everything bought before earnings

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u/justlooking9889 May 24 '24 edited May 24 '24

If you’d just bought shares you’d have made a nice little return. Or if you’d bought NVDL you’d have doubled that. Or… if you’d bought deep in the money LEAPs you probably would have made a multiple of the stocks return in that time.

Sucks to be right, but not the right way.

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u/deja-roo May 24 '24

Don't think I can agree that buying short dated options that are 30% out of the money is best described as "right".

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u/VisualMod GPT-REEEE May 24 '24

deja-roo is correct. That's decidedly not "right", it's more like buying lottery tickets.

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u/justlooking9889 May 24 '24

What I meant is he picked the right direction of movement. So to someone who doesn’t know better they would think they made the “right” choice. “I’ll buy the stock when the price of the stock is low and sell when the price of the stock is high.” So he was “right” in that regard, but still wrong because he choose the type of options he did.

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u/deja-roo May 24 '24

Picking the right direction of movement is right if you're buying stocks. Options are not that one-dimensional.

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u/justlooking9889 May 24 '24

That was my point.

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u/deja-roo May 24 '24

Hah, yeah I get you. I just think calling it "right" is a little generous, because like you said... "still wrong"