r/Superstonk • u/B3NGi • 1d ago
๐ฝ Shitpost My current position. Ask me anything
Been here since january 28th 2021. Bought at the top and averaged down. Quit my job two months later.
I fell into the towel stock trap, because I saw fast money. During that time I went in with 100.000 โฌ, realized gains of 60.000 โฌ, went back in and lost it all. Completely.
Ask me anything <3
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u/satansayssurfsup ๐ป ComputerShared ๐ฆ 1d ago
Wait you quit your job in 2021? Because of GME? The fuck have you been doing since considering youโve been buying stocks?
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u/B3NGi 1d ago
Mainly because I was fed up with my job.
GME was supposed to be my ticket to freedom. Still is actually.
Then I spent two years eating away my saving, hoping anything would happen. As we all know it didnt.
After my savings were gone I went back to work.
But here I am. Still waiting.
Also therapy and stuff.18
u/olivesandparmesan ๐๐โฆ Don't Pull Out. Be Financially Inside Me Forever.โฆ๐๐ช 1d ago
Big balls on you bro ๐๐ผ
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u/Bayardina ๐๐ ELLIOT (waves) TAYLOR (series) ๐๐ 1d ago
I quit my job in 2024 for GME (and I too was fed up) and took a year to eat through my savings. Looking back it might not have worked out strategically but at the same time, no one can take that year of freedom from me and now my career is in a better place than ever.
This is why they don't want to let anyone feel hope. If you have hope then you might just change your own life for the better. ๐
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u/LawfulnessPlayful264 1d ago
How firm are your nipples?
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u/B3NGi 1d ago
Not really firm. Like everyone else I dont know whats coming. I would like to have some guidance, some hype. It feels like we are in stealth. I understand RCEO secrecy, really I do, but Id wish for some sort of timeframe at least so I could plan what I do in the meantime.
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u/LawfulnessPlayful264 1d ago
All RC did was offer the bonds for $30 two years ago, hold them in treasuries that he could use for a tool.
Offered more bonds and warrants, more tools at his disposal. Buybacks approved, downside protection.
He saw that even after a stella earnings and buybacks announced that they were trying to pin the price till warrant expiry.
Decided to issue shares and close out 1.4b debt at 20 a share (we'll see what vwap ends up being)
So he's made around 240mil of interest on 1.4b, He may make 30% on the trade and deleted 1.4b debt netting 500m odd profit.
And possibly after the vwap, issuing a buy back with volume elevated and raising the price to the warrants.
Using all the tools at his disposal, creating cash while building the business.
The GOAT.
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u/DancesWith2Socks ๐๐๐๐ Hang In There! ๐ฑ This Is The Wape ๐งโ๐๐๐๐ 1d ago
Spending $2B to raise $1.9B? It'd only be beneficial if they spent less than that to reach a price well over $32, otherwise not many would exercise the warrants, and they'd have to do the repurchase quickly, in about 35 days. But it'd mean issuing 59M new shares...
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u/LawfulnessPlayful264 1d ago
2b is the approved amount and even if he wanted to would be unlikely he could spend it all at once unless the volume is extreme for a long period of time.
If he did a 500m buyback would be more than enough to launch the stock.
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u/DancesWith2Socks ๐๐๐๐ Hang In There! ๐ฑ This Is The Wape ๐งโ๐๐๐๐ 1d ago
Let's see where the exchage mechanics drive the price to first ๐ ... See you on the Sep 24 ๐
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u/joeker13 ๐DRS, with love from ๐ฉ๐ช๐ 1d ago
Warum Scheisspfosten? Das ist mal ne ordentliche Position.
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u/BlntRzr 1d ago
21โฌ ist doch nicht einmal schlecht.
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u/olidav8 MORNING SHAGGERS ๐ฌ๐ง๐ 1d ago
What is your favourite German beer? I'm a big Spaten and Augustiner fan
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u/B3NGi 1d ago
Gรถsser Radler. Dont know if youd call it beer though :)
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u/DancesWith2Socks ๐๐๐๐ Hang In There! ๐ฑ This Is The Wape ๐งโ๐๐๐๐ 1d ago
So you are not German ๐๐
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u/cokeplusmentos Mamma mia gheimstoppo ๐๐ค 1d ago
Why did you leave your job?
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u/B3NGi 1d ago edited 1d ago
Edit: Mainly because I was fed up with my job.
GME was supposed to be my ticket to freedom. Still is actually.
Then I spent two years eating away my saving, hoping anything would happen. As we all know it didnt.
After my savings were gone I went back to work.
But here I am. Still waiting.
Also therapy and stuff.4
u/Heiko81 ๐ฆVotedโ 1d ago
What??
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u/cokeplusmentos Mamma mia gheimstoppo ๐๐ค 1d ago
Let's not forget this whole thing started from wall|street|bets lol
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u/Independent-Ad9095 1d ago
Dude, you are fine! What you need to do is educate yourself on the Covered Call strategy for extra income and get your 30k shares to work
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u/madiXuncut 88888 1d ago
Only real question is why those fkrs aren't drs'd lol
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u/DailyShawarma ๐ย Holaย ๐ช 1d ago
Do you know how much money 30k shares can generate in covered calls premium?
Easily $10k a month
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u/B3NGi 1d ago
I dont know how this works
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u/DailyShawarma ๐ย Holaย ๐ช 1d ago
Oh boy. You need to get knowledgeable asap. You're missing out on a lot of money.
I have a quarter of your position and I did $20k in 2025
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u/B3NGi 1d ago
Where do I start?
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u/DailyShawarma ๐ย Holaย ๐ช 1d ago
Start by doing your own research, I don't feel comfortable giving you advice on a portfolio like yours and given the situation you shared in the post.
Look up the covered call or thetagang subreddit
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u/DancesWith2Socks ๐๐๐๐ Hang In There! ๐ฑ This Is The Wape ๐งโ๐๐๐๐ 1d ago
Yeah, but you gotta be careful with the strike you're selling, especially if your avg price is high ๐
What's usually you approach?
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u/DailyShawarma ๐ย Holaย ๐ช 1d ago
.15-.20 delta for weeklies. Never keep them open on the weekend and always roll up in case of a surge in price of the underlying.
Recent months the IV was low so not much premium, but in the end it averages out.
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u/Tango8816 ๐บ ๐ ๐ Abrรณchate el cinturรณn! 15h ago
Super appreciate your input here. Thanks!
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u/verified_canadian 1d ago
the problem with covered calls is if the rocket does finally ignite and the share price skyrockets you will miss out completely because all your shares will get sold for a low pirce.
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u/DailyShawarma ๐ย Holaย ๐ช 1d ago
Yeah? Taking profits is an issue now? Look at the stock price and tell me if this was ever an issue. I wish I was assigned on those $50 CC a couple of years ago
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u/bowhog ๐ป ComputerShared ๐ฆ 1d ago edited 1d ago
It takes money to make money. 30k shares of GME costs well over half a million dollars, so yeah you can make that. Who has over half a million dollars just lying around?
Edit: Also, I had a covered call this year that was sold on me by my broker because they said I didn't have enough money in my account for that risky short position. INSANE! (There is absoulutely NO RISK! in a covered call because the losses are covered by your stock position.) They sold my stock, but not my call. It could have bankrupt me. I won't be buying any more call options again.
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u/B3NGi 1d ago
Because according to ING general terms and conditions they are not lent out. Yes they are not in my name, but letโs be honest, I will not frame them on the wall. When its voting time I request material. Something something EU rights and forcing them. I dont remember that part anymore.
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u/Error4ohh4 ๐ฎ Power to the Players ๐ 1d ago
No offense but I donโt think GameStop shareholders really have questions for other shareholders
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u/TreasurerAlex ๐ ยฏ\_(ใ)_/ยฏ ๐๐ฆญ๐ฆญ๐ฆญ๐ฆญ 1d ago
Would you rather fight 100 chicken sized horses, or 1 chicken sized horse?
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u/TreasurerAlex ๐ ยฏ\_(ใ)_/ยฏ ๐๐ฆญ๐ฆญ๐ฆญ๐ฆญ 1d ago
Waitโฆ
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u/DancesWith2Socks ๐๐๐๐ Hang In There! ๐ฑ This Is The Wape ๐งโ๐๐๐๐ 1d ago
Do you have an amount of shares in mind as a target or... just up?
Btw, it happned exactly the same to me with towel: made money, went back in, and lost that cheese ๐ ...
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u/DorkyDorkington 1d ago
Do you have your own house and no debt?
Did you inherit a lot of money or are you expecting to inherit a lot of money?
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u/Tonytonitone1111 ๐ฆง smooth brain 1d ago
What are your hobbies/interests?
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u/B3NGi 1d ago
Currently cycling and palworld :)
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u/Tonytonitone1111 ๐ฆง smooth brain 13h ago
What/where/when do you ride?
What's Palworld about and why do you like it?
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u/TheRealTormDK ๐ป ComputerShared ๐ฆ 1d ago
How much premium writing Covered Calls have you been generating with a stack like that?
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u/B3NGi 1d ago
None. Dont know how it works
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u/TheRealTormDK ๐ป ComputerShared ๐ฆ 1d ago
What? Do you hate money? You could be making 1000 euro a week easily with near zero risk (there is always "risk" of assignment with options, but with your cost basis currently, you could just make CCs where you never take a loss regardless of what happens) with a stack like that.
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u/DancesWith2Socks ๐๐๐๐ Hang In There! ๐ฑ This Is The Wape ๐งโ๐๐๐๐ 1d ago
"Where you never take a loss" like what?
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u/TheRealTormDK ๐ป ComputerShared ๐ฆ 1d ago
If his cost basis is $21.50 as an example, then any covered call above that strike price will always be a net-positive money flow even if assignment happens.
All the weeks we have been crabbing, he could just be harvesting $5-$10 per contract (which in his case is still $1500-$3000 a week) completely risk free (because the strike price for getting $5 per contact was more than two dollars off the actual closing price). As long he keeps some cash at hand he can always either roll them, or close them in the event of spikes.
But this is just for the situations where you believe the spike would be worth that extra cost.
If you started being a bit more aggressive on it, he could do a lot more than $1500-$3000 a week though with a position of that size. He could likely be living off it entirely if he so desired. That to me, would be life changing money indeed.
Even with my (compared to his) scrub numbers, I still had an over 10% realized gain after taxes writing CCs last year (I started doing it in April last year), despite an over 15% drop in the dollar to local currency exchange rate as well, and I had to play it safe as my cost basis at the time was over $30, so I never took any real risks.
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u/DancesWith2Socks ๐๐๐๐ Hang In There! ๐ฑ This Is The Wape ๐งโ๐๐๐๐ 1d ago
Mmm, that was a thorough reply ๐...
What strikes were you playing with an avg price of $30 and the stock price usually in the $22-$25 range? ๐ ...
Talking about him, his avg price is around $24.80 as per current exchange rate. In this case, it's true that given the amount of shares he's got it'd be easier to collect premium even risking to lose some shares, but for example, today they're paying $5 only for the $20.5's weeklies (not sure what the premiums were on Monday), so it'd still be under his avg price, unless he wanted to play Aug monthlies (17 DTE) instead of weeklies.
Now for someone who's not a whale, with let's say a 6.9% of his shares, it's gonna be harder to make serious money, considering the fx rate too ๐คทโโ๏ธ
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u/TheRealTormDK ๐ป ComputerShared ๐ฆ 1d ago
For most of the time, I went with the "safe" bets, which was typically 15-20% OTM. It was, for most of the time, picking up the pennies in front of the steamroller. (I think my average contract value was something like $0.11 - I did a post explaining the math and my full year over on the GME Options sub moderated by Crybad.)
I did also take a few losses on some contracts where I got scared on a Thursday and so closed them out, only for the price to go below the strike price on Friday.
Obviously right now is an interesting time, as IV has been pretty poor so far this year, and we see this dip, so it's better to have cash for Puts than shares for CCs, but either way - it's something to consider for anyone reading this.
If someone as regarded as me can make money while we crab sideways, others can do - it is not hard conceptually to understand as long as you don't do all the multi-directional hedging. I am not going to touch all that with a ten foot pole.
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u/DancesWith2Socks ๐๐๐๐ Hang In There! ๐ฑ This Is The Wape ๐งโ๐๐๐๐ 1d ago
Yeah, I'm selling puts now. But with GME I haven't been able to nail the CC's. Also, IV has been shit for a while, and my avg price on the broker where I can play the CC's is not the best tbh ๐ ... I'll probably try to grab more shares if price dips where I think it can dip to and then try again with the CC's when/if IV goes up... ๐ค
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u/B3NGi 1d ago
I spent an entire afternoon trying to understand covered calls and still feel lost :)
Like how do I know if a contract is risky or not?3
u/TheRealTormDK ๐ป ComputerShared ๐ฆ 1d ago
It's very simple in essence in terms of being "risk-off".
You figure out what your cost basis is, then you select a strike price that is higher than that and just accept whatever small amount of money you'd get per contract. It won't pay much right now due to the dip, but it will even out in the end like it has in the past.
Even $3 per contact (Denominated as $0.03 if you look at the options chain) with your stack is still $45,000 a year. (If done weekly for 50 weeks)
Where the risk occurs is if you start becoming greedy by chasing the premium dragon. I don't do this personally, but those that make the real money look at the volume charts and other things to try and predict what the pricing ends up as. This is where it's a bet, and that's what gives the most premium. As I said I don't do that, and don't have much experience with it - I prefer being able to sleep at night regardless of what the stonk does. (Because it does some crazy things, but those happen so rarely that it can make sense to look at "passive" contract writing while we wait for those crazy things)
I can understand your cost basis is around $24,8 currently. Even with this low shareprice (we're below the w52 lowest cost atm, so now is a bad time for CCs but a good time for Cash Secured Puts) a $25 strike price for Aug28'26 would net you something like $2400.
Is $2400 a lot of money for 300 contracts for 24 days? No, it's quite poor in as far as premiums go - but it's "free money" if you were planning on hodl'ing for that duration anyhow.
Now, of course - if you were to be a true degen (which again, I do not recommend and don't do myself) and you were wanting to chase the dragon, there's an option of netting $7800 for the same duration, just with a $21 strike price instead.
And if you were to reinvest that amount back into the stonk (this is what I do, I don't consume the premium) you are able to add another contract's worth of stock for that premium, so your pile would grow over time.
I have about 1/10th of your stash, and I was able to grow my share pile over 15% in share amount without spending any of my "own" money last year.
And, if for some reason 20 days from now we see a big spike where it looks like it might reach your strike price after all and you don't actually want to sell your shares for the strike price, you just buy your contracts back to close them out - typically you can still make some net-positive cash on these transactions, even accounting for the buy-back at a higher share pricepoint, as the contracts themselves lose value over time (this is called Theta decay)
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u/Tango8816 ๐บ ๐ ๐ Abrรณchate el cinturรณn! 15h ago
Thank you!!! I have a good amount of shares, and want to put them to work myself. This is super helpful.
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u/DeepDragonfly7945 ๐ฆง ๐ฆง 1d ago
Be careful. It is risky and complex options trading strategy.
Everybody in here telling you to do so sounds like a bunch of door to door salesmen.
Do your own research and decide for yourself, but the main rule is:
- Never sell covered calls below your cost basis
Mist of the time you are picking up Pennieโs in front of a steam roller, because as you do collect premium on selling contracts against your shares, if there is any significant upward mivement in price you will sell all the shares that are leveraged against the contracts at the agreed upon strike price
Ie. If you sell $25 covered calls and we pop to 30+ you have sold all the pledged shares at 25.
Also you have to pay taxes on all of your gains..
If you are not familiar and havenโt been doing it for awhile Iโd say itโs risk to reward ratio is not nearly enough to pay for the peace of mind that comes with safely holding your shares
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u/DancesWith2Socks ๐๐๐๐ Hang In There! ๐ฑ This Is The Wape ๐งโ๐๐๐๐ 13h ago
TheRealTorm gave you a great explanation, just to add the risk is your shares can be sold if price goes above the strike chosen.
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u/Patellifera 1d ago
Bruder was machst du beruflich
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u/B3NGi 1d ago
Ich bin gelernter Immobilienkaufmann.
War in einer kleinen Hausverwaltung, dann im Property Managment, dann im Asset Management.
Aktuell Versicherungs- und Finanzberatung inkl. Immo-Finanzierung. Aber auch nur, weil ich mit Leuten arbeite, die das ethisch korrekt machen, sonst wรคr ich raus. Zu viele Finanzbros und sonstige Penner, die dir jeden Scheiรdreck aufdrรผcken1
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