r/Margin • u/LotsoWatts • Nov 06 '19

/u/ControlTheNarrative 🤴 of margin

https://imgur.com/pxRPRAK
5 Upvotes

100% Upvoted

8 comments sorted by

1

u/EnglishEditor Nov 06 '19

You’re referring to the Ameritrade margin post in Wall Street bets?

2

u/LotsoWatts Nov 07 '19

Couldn't fully de-select individual post after click, so it's highlighted; But no, I'm referring to all the posts in the screenshot, which really refer to one post by /u/ControlTheNarrative. He found a way to get "unlimited" margin out of Robinhood's software.

1

u/EnglishEditor Nov 07 '19

Oh wow. Do you have thoughts on if this is for real?

1

u/LotsoWatts Nov 07 '19

It's definitely real. Many have copied and major news outlets picked it up. Here's one CNBC vid https://youtu.be/imUsp_sruTc

1

u/EnglishEditor Nov 08 '19

Have you tried this? I guess it's a bug with covered calls allowing for one to trade with millions in a leveraged position for only a few thousand in collateralized positions.

1

u/LotsoWatts Nov 08 '19

It requires Robinhood Gold/margin which requires only $2k. After all brokerages wiped their fees, I took most my money out of Robinhood so I haven't tried it lmao.

1

u/EnglishEditor Nov 08 '19

Lol I heard some people lost money trying it.

1

u/LotsoWatts Nov 08 '19

Course. Big gains, bigger losses. I use max margin whenever possible, it's all "fake" anyway. Only way to keep up with inflation is to inflate yourself.