this post was submitted on 18 Jan 2024
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[–] milkjug@lemmy.wildfyre.dev 39 points 11 months ago (7 children)

I've never bought options before, but I'm in for 10grand and shorting the shit out of this.

[–] GreatAlbatross@feddit.uk 26 points 11 months ago (1 children)

If you're serious, just remember the old saying "Markets can remain irrational a lot longer than you or I can remain solvent"

[–] monkeyslikebananas2@lemmy.world 2 points 11 months ago

Oh I learned this the hard way

[–] nutsack@lemmy.world 19 points 11 months ago* (last edited 11 months ago)

I don't really care about Reddit but this is probably a bad idea

[–] Jeremyward@lemmy.world 15 points 11 months ago (1 children)

Usually they don't allow options on new stocks until after the cutoff period. Unless your broker allows naked shorting.

[–] viking@infosec.pub 0 points 11 months ago (1 children)

Probably not through some online broker, but OTC with an actual trading desk you can short just about anything. In the end it's just a contract.

[–] mcmoor@bookwormstory.social 4 points 11 months ago

Well then you need someone on the other side of the deal.

[–] cooopsspace@infosec.pub 12 points 11 months ago* (last edited 11 months ago) (1 children)

Proof or ban

Oh wait, I forgot we aren't on wallstreet

[–] Jeremyward@lemmy.world 6 points 11 months ago (2 children)

We need a Lemmy version of WSB

[–] Ashelyn@lemmy.blahaj.zone 10 points 11 months ago (1 children)

Do we really though? Don't get me wrong it's some of the most entertaining content I've seen on the Internet but I think it brings more harm than good on the whole, especially with the fervor around GME that spun off into being downright delusional. I'd prefer if we don't end up bringing that over here tbh.

I think the 'old' wsb even would be sort of borderline with the egging on and memefication of gambling one's life savings on weeklies

[–] Jeremyward@lemmy.world 3 points 11 months ago

I guess I mean the old version prior to the GME and AMC fiasco.

[–] Sabata11792@kbin.social 6 points 11 months ago

A summoning circle for corpo bots?

[–] themaninblack@lemmy.world 5 points 11 months ago

I think what may buoy them is the fact that you must append “Reddit” to searches, however, ChatGPT, DuckDuckGo, and Kagi are giving them a run for their money

[–] assassin_aragorn@lemmy.world 3 points 11 months ago (2 children)
[–] Aabbcc@lemm.ee 11 points 11 months ago (1 children)

Short version: don't

Long version: doooooooooont fuck with options. Knowing that reddit is going to tank is not enough of an edge for you to be able to make winning trades

[–] assassin_aragorn@lemmy.world 2 points 11 months ago

You know. Fair enough!

[–] NotMyOldRedditName@lemmy.world 2 points 11 months ago* (last edited 11 months ago)

Not financial advice, but there's been a few times I wanted to short something (I didn't in the end) but one thing to watch out for after an IPO is the date insiders are allowed to start selling stock. It's often 6 months or so after the IPO and can cause share price to drop.

So if a company jumps in value post IPO, there might be an opportunity to short it at some point, with the options expiring a period of time after the insider sell off date.

I imagine I'm going to do some paper trades on reddit on this and see what happens. I'm rooting for them to do poorly. Fuck u/Spez

Edit: And to clarify, I mean buy puts on something. I'd never short something directly.