ive seen this a couple of times, how the fuck did that happen? can someone give me rundown?
Ryan Sullivan
Guys, I'm thinking of getting the motley fool subscription, should I go for it or is it just a scam?
William Martinez
it appears markets don't care about poo vs pooh ww3 poohgaloo
Josiah Sullivan
The note found on his computer by his parents on June 12th asked a simple question. “How was a 20 year old with no income able to get assigned almost a million dollars worth of leverage?” The tragic message was written by Alexander E. Kearns, a 20-year-old student at University of Nebraska, home from college and living with his parents in Naperville, Illinois. Earlier that day, Kearns was struck by an oncoming train.
Like so many others, Kearns took up stock investing during the pandemic, signing up with Millennial-focused brokerage firm Robinhood.
As the Covid-19 stock market swung wildly, Kearns had begun experimenting trading options. His final note, filled with anger toward Robinhood, says that he had “no clue” what he was doing.
In fact a screenshot from Kearn’s mobile phone reveals that while his account had a negative $730,165 cash balance displayed in red, it may not have represented uncollateralized indebtedness at all, but rather his temporary balance until the stocks underlying his assigned options actually settled to his account.
To all the guys replying: apparently it is some sort of bug in RH, which could display weird negative numbers when you had options during the weekends. Some article explained it but I can't remember the details.
The guy wasn't even 700k in debt holy shit.
Ethan Reyes
Alright guys I have $1500 to spend, what’s an overvalued meme stock I should buy a put on?
Absolutely nothing at all. If you don't have any assets like a house or a car they can't do shit about it friend
Michael Collins
>Kearns apparently fell into despair late Thursday night after looking at his Robinhood account, which appeared to have $16,000 in it but also showed a cash balance of negative $730,165.
>In his final note, Kearns insisted that he never authorized margin trading and was shocked to find his small account could rack up such an apparent loss.
>“When he saw that $730,000 number as a negative, he thought that he had blown up his entire future,” says Brewster. “I mean this is a kid that when he was younger was so conscious about savings.”
years of misery as all your finances are fucked, enjoy not having a bank account in the 21st century
John Sullivan
THIS IS WHY YOU DON'T WRITE PUTS
Hunter Walker
ZM is the king of over valued meme stocks
Colton Diaz
gnus?
Adrian White
wendies options
Christopher Russell
i got a small size of 40 shares not willing to pick up any more today incase tomorrow looks shitty
Michael Parker
What do I throw $300 into right now
Samuel Brown
I figured it was something like this. Robinhood doesn't allow the sort of options in which you can lose more than your initial premium, like naked puts and such things. Kid just needed to relax
Daniel Powell
Right now the only things the market cares about is if the printer is on and is it printing. There could be nuclear war and as long as there is still residual energy in the grid to keep the printers running the market can moon.
TA beyond 2 EMA windows of various periods is absolute trash
Eli Miller
i was joking, i know we don't have "markets" anymore.
Logan Phillips
Just another covid death Also, with that face he probably posted here
Adam Murphy
XOM
Liam Roberts
If you honestly thought you fucked up your future because of this, why would you kill yourself? I would flee to some tropical island and open a dive shop or go be a bartender.
OTM January puts, top one was up 236% on Friday. Down 10% YTD if you count current unrealized losses.
Isaiah Rogers
why are most University students like this? i spoken to so many before and they cant fucking take 1 hour of their day to learn how the fuck anything works? like they cant fix the simplest shit in a car yet they have the web to search the answer but refuse to do it.
Jonathan Davis
>no MO Not going to make it, retard.
Easton Robinson
>r*binhood claims another life they need to be stopped
Gabriel Howard
CNBC says we are all going to die for the 15th time this month.
That sounds like he was trading low liquidity options. He probably wrote them rather than buying to. At the end of the day the balance shows the last price rather than the value with implied volatility
who TSM here? how confident you guys in getting more gains after it's almost back at its ATH again?
I bought in with a 3 year outlook since it is still growing rapidly, but I'm worried in the case that I might have to liquidate the stock after just 1 year.
Justin Hill
>he chases yield instead of dividend growth
sorry m8, my dividend will outlast and outgrow yours
Brody Bell
Because all their authoritative figures are doormats nowadays. Parents are either absent or pushovers and teachers are afraid to fail students even when they're retards.
These people grow up coasting on life getting coddled by everyone around them. This breeds lazy, weak, and easily manipulated sheep.
Bentley Moore
lmfao ahahahahaha
Jack Edwards
Bonds would outperform all of your dividend stocks anyway.
Charles Price
>tfw tried to buy KOS >shitty broker auto filled to KOSS and I didn’t notice >now stuck with 500 shares of a literal who company
What do I do
Cameron Perez
being bread isn't that bad.
>apparently it is some sort of bug oof. imagine you left your parents grieving because of a computer bug that you couldn't wait through the weekend for it to fix itself...
Well, he was unfortunate looking, the world wasn't kind to him, I'm sure.
Jonathan Rivera
sell MGM and invest it a better company if you're looking for dividends. JNJ hiked their dividend 6% in the middle of the pandemic
Nathan Williams
My mother lived like this for 50 years after my father fucked up our finances for good. It wasn't a fun life I'll tell you that.
The government made her do payments on it every month for those 50 years.
Blake Lewis
I saw someone in the last thread bashing the so called “wells Fargo call user”
THREE quick points 1. I recommended taking a position in Wells Fargo when it was at 23 dollars a share, about a month ago, and it has gone up CONSIDERABLY since then. 2. I never said calls, I literally just said buy wells. I explicitly said it was a long term bet. 3. Eat shit for lying faggot or being retarded
hold. koss is actually a good cheap audio company. For more information look at /g/ and Zig Forums.
Eli Garcia
I didn't even know they paid one desu - they're part of my corona meme collection.... and like everything else in it are doing terribly the last week
Ian White
Wells Fargo is both mismanaged and behind the rest of the sector in terms of forward direction and revenue streams. Why would you long hold the retard of the group?
Oliver Wood
Takagi?
Brayden Green
The best thing about leveraged ETFs right now is the pump/dump schedules are more pronounced.
Jace Anderson
hey Guys I just wanna remind everyone that ANDYS WIFE KILLED HERSELF TO GET AWAY FROM HIM
He was trading put credit spreads. From the article:
>Here’s an example of how a bull put spread could produce an unexpectedly large stock position in your portfolio. On June 16, Amazon (AMZN) trades at $2,615 per share. If you’re neutral to bullish on Amazon, you could sell put options that expire on July 17 with a $2,615 strike price for $28 per option. To limit your risk, the other leg of the trade is to purchase puts at a lower strike price, $2,610, for a cost of $26. That two-dollar differential (multiplied by 100) generates $200 for every contract you sell. Do three contracts and you generate $600. If Amazon closes on July 17 above $2615, you’re in the clear and keep all of the proceeds, as both puts expire worthless. If the stock closes below $2610, you will encounter your maximum loss of $900: $5.00 (difference between strike prices) minus $2.00 (proceeds earned up front) times three contracts.
>When the stock closes between the two strike prices, the put you bought at the lower strike price expires worthless, but the one you sold is in the money and legally binds you to buy the stock at the strike price. In the case of three contracts of $2,615 Amazon puts, that would be $784,500 to purchase 300 shares. Over a weekend say, you may see a -$784,500 debit to buy the stock, but you would not see the stock among your holdings until Monday.
>Kearns may not have realized that his negative cash balance displaying on his Robinhood homescreen was only temporary and would be corrected once the underlying stock was credited to his account.
Levi Young
Because their assets under management is absolutely massive compared to their market cap. And for a bank assets under management is basically the only thing that matters.
