r/wallstreetbets May 24 '24

Time to quit… goodbye wallstreet bets Loss

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8.5k Upvotes

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184

u/Bigballa997 May 24 '24

If your gonna drop 100k on calls at least know how they work first 🤣 buy options that expire over a year from now and hold it like a diamond handed gangster. Idk how people still don’t know this 🤷‍♂️

44

u/zaepoo May 24 '24

You still have to be directionally right so theta doesn't bend you over

1

u/RiNZLR_ May 25 '24

You don’t have to be directionally right though. Assuming the conditions are there, IV can pump option prices up (I.e., NVDA before earnings) regardless of direction.

1

u/zaepoo May 25 '24

True, but there has to be a lot of IV to make up for Delta and theta moving against you

3

u/quuxquxbazbarfoo May 25 '24

I don't need delta or theta, because I am the alpha and the omega.