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.... and did any of you cash in? I only had $120 free in my account this morning so couldn't do any damage. Tossed that in NOK and made about a 70% profit in an hour or so. Meaningless with $100 bucks, but stupidly easy money had anyone had free cash ready to dump into it.
It's easy money until it's not. I manage investments for a living and have tried to figure out a way to profit on this craziness without it being a complete gamble. Haven't come up with anything yet. The implied volatility on some of these options is so high right now that the stock has to move by 50% or more for you to break even. And that's with a less than one week time frame. There are people that have made a lot of money in the last few days, but someone is/will be on the other side of all of those trades eventually.
I think as it catches on it will solve itself due to tons of folks trying to pump their own favorites, thus spreading the attention out too thin among many pics. In the short run its pretty amazing how that many people came together to say "lets pump these 3 or 4". NAKD may be the big one tomorrow.
Robinhood has essentially blocked everything being suggested by Reddit/Twitter guys from being bought. That’s kinda shady.
I can see why they would/should block any of these from being traded on margin but to restrict cash trades is a slippery slope. It's not the job of the broker to protect the investor from themselves.Robinhood has essentially blocked everything being suggested by Reddit/Twitter guys from being bought. That’s kinda shady.
Oh ya. That’s the pretty much impossible task. Have waited too late and lost money. And have sold too early to watch it tripleI'm following the WallStreetBets thing and, just for the fun, invested some money in AMC and Nokia the past three days. So far, so good. It's fun to watch it all play out, but you gotta know when get out before greed bites you in ass.