Gambling Thread

hes not shorting though hes trading 0DTE puts like a complete re tard

you need a margin account to short stocks i doubt this guy could keep more than 25k readily available in his brokerage account without blowing it up on calls/puts

you know ironstove you could just trade contracts that expire in like a week and the intraday action on the options contracts will be probably way closer to what you are looking for (amplified gains/losses compared to the underlying asset) then fucking 0dte contracts

Heres the attention you ordered

Memories over money

Cope as well as rationalize

I was losing money on options with less than 25k in a robinhood account 4 years ago

yeah but does robinhood let you short stocks with less than 25k? I know you can just buy puts but those are different than shorting a stock

hurt yourself please

Yeah if you buy robinhood gold and pass an "investor quiz"

ah yeah, i know you need 25k to avoid pdt violations but yeah i guess you can get approved for margin and short shit with less

Do you guys think iaafr just has this site open in one tab that he never closes or what

1 Like

There are pros and cons.

Pro is you have more time to ride it out incase trades go the wrong way but this is a double edged sword.

Same strike price right now for CL at the money is 500 for a 0 daily and 1.25k for a 7 DTE so you can buy 2.5 contracts per weekly.

I my experience having previously traded weekly and monthly, you get much less leverage or you pay way more to get the same and end up risking a lot more. The losses can become catastrophic. I prefer calling a trend for the day and trying to jump in and out quickly. There's less liquidity for weekly and monthly too so the spread eats into you more too.

I wouldn't say trading weekly VS daily is better or worse they're just different animals and have their time and place but my observation is that whenever I wanna buy a weekly, I could/should have gotten 0 DTE but was too pussy because the price action happened in the same time period but I ended up with less profit and put more at risk.

Riding out weekly when it goes against you is just a slow painful death versus getting crushed fast by a 0 DTE.

I used to buy long term options with the same fallacy / bias believing they're 'safer' from eating losses but like I said the loss is the same because you're either making less or risking more using weekly it's a trade off. There isn't one better than the other.

Of course I'm not a person who does this for a job so I'm just speaking from my experience more than anything.

All I'm saying is if you buy 10 weekly options instead of 10 daily, you will spend at least 2.5x the amount and end up losing exactly the same if not more for the same leverage.

Also when the trade goes with you, you might feel inclined to break your own rules and let it ride out instead of selling. You don't do that with daily because you can see the edge of the cliff approaching fast.

Let's say you have 5 days left on the contract and you're up a lot, are you gonna sell or try to let it ride? If you choose the latter, yes you can make more money but you are open to a reversal too.

Well, anyway the main problem I have with this statement is I don't agree that weekly are better but there is a time and place and depending on the strategy... But if all I'm doing is trading the trend for the day then a weekly or more than 3 DTE provides no real advantage. The only time I buy multi DTE is Friday to ride to the next week...

Also if I want to ride it to a storage report or something but I think rather than buying longer options and wasting the money, just get better at observing the market and recognizing when to time trades better.. Easier said than done but if you watch one market like crude and gas for 10 years you start to get a feel for what moves the price and what does not and what is within the range of feasibility

The best thing about 0 DTE is you get a ton of leverage for practically nothing in comparison with longer priced options. Due to that, you will never get opportunities to 10x on weekly barring some insane moves while doing so on daily does on a regular basis.

A lot of those extra days you buy are nothing burgers. The price action usually happens on specific days, while the rest just seesaw back n forth so you are paying extra for useless filler when all you wanna do is hold for the window you start seeing big volume moves and price rips pre market so you know something spicy might be happening that day.

Oh yes and I often trade OTM dailies so currently 1 dollar below the spot is $120 for a daily and $750 for a weekly so I actually buy 15 contracts for the price of 3 weekly OTM contracts at the same dollar strike. If the price moves against you on weekly, you might be inclined to hold to hope it reverses and this opens the door to get fucked and lose even more which doesn't happen with daily. I know the way I trade is very risky so I trade daily as a way to limit my loss by keeping cost as low as possible to get the maximum leverage.

if you guys with enough money to invest in shit didnt short anything and everything like a month ago, idk what to tell you

freest money to ever free, wish i had enough to invest damn

You can be right and still lose money :joy: I can attest to that.

Also I did sell a lot of my stocks into cash a month ago in early Feb when the tarrifs first got announced... I think I do enough regarded shit to justify not taking the risk to short the market.

If you got 5k to throw around I can teach you how to be a degen gambler for future options. We can start a spin off site nagambling.com

I updated my ibkr account with my income to 0 because I don't have a job then they removed my permissions to trade futures so I'm locked out of my account.

Thankfully I don't have any dailies. My orders all got cancelled but I can still close positions so I'm not selling my NG puts until I'm hard in the money unless I get my permissions restored.

I think this is it. This is going to be the redemption arc where I make back all of my money and quiet down all of the haters. Drive into my high school reunion in a sick ride like a Mazda 3 grand tour and have people groveling at my feet to give them a ride.

You type like a drug addict justifying his addiction or a LLM falsely asserting a confident claim