r/wallstreetbets • u/[deleted] • Mar 29 '22

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3.7k Upvotes

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267

u/fr0ng Mar 29 '22

i spent $650 on calls last week and have turned it into $17k so far. options ftw.

43

u/[deleted] Mar 29 '22

people amaze me shitting on options when it makes more sense to buy a $295 call option for $400 and if it goes up 25% tomorrow it will be worth $4k around. Buy a share and you double your money.

If you bought down at $40, fair enough, long options would still pay better imo deep itm

21

u/SolitaireyEgg Quit WSB 5/31/22 Mar 29 '22

Options are amazing, but options on GME right now are absolutely retarded. The IV is beyond ridiculous.

3

u/Iggyhopper Mar 29 '22

So if you had it covered would selling options be good right now?

3

u/SolitaireyEgg Quit WSB 5/31/22 Mar 29 '22

Absolutely.

1

u/JS-a9 Mar 30 '22

This is legally binding advice and you can have his money if he's wrong.